ISLAMABAD: In an unending tariff increase streak, the ex-Wapda distribution companies (Discos) and K-Electric have demanded permission to charge about Rs8.5bn additional fuel cost to their consumers at the rate of about 86 paisa and Rs1.66 per unit, respectively, in April. The National Electric Power Regulatory Authority (Nepra) has accepted the respective tariff petitions and...
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US investment coming to Pakistan more and more every year, says Blome
Listen to article Donald Blome ISLAMABAD: US Ambassador Donald Blome has said that the US is Pakistan’s largest export market, and the US investment is seen coming to Pakistan more and more every year. He was speaking at the US-Pakistan Innovation Expo in Islamabad that showcased the success stories of US government-sponsored Pakistani startups. Ambassador Blome said...
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Tyre maker suspends production in Pakistan
Listen to article KARACHI: The crisis in the automobile sector continues to metastasise, with local tyre manufacturing Ghandhara Tyre and Rubber Company Limited (GTR) announcing its second plant shutdown for 2023 and Pak Suzuki Motor Company Limited (PSMCL) stating it has been hit adversely due to its inability to settle foreign currency liabilities. In a stock filing...
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Index loses 412 points amid political uncertainty
Listen to article KARACHI: Stock prices slightly went up as trading began on Monday before bears took over the exchange on the negative news flow. Arif Habib Ltd said the benchmark of representative shares of the Pakistan Stock Exchange lost steam because of continuous economic and political uncertainties. Negative triggers plunged the index to an intra-day low...
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FBR amends refund process to facilitate exporters
Listen to article ISLAMABAD: The Federal Board of Revenue (FBR) has made changes in the procedure for automatically processing refunds for five sectors in what it says is a step taken to facilitate exporters. The FBR’s Sales Tax General Order No. 09 states that the changes will be applicable from of March 2023 and will facilitate the...
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Emaar to invest $60m in held Kashmir
Listen to article SRINAGAR: Dubai’s Emaar Group is going to build a $60million shopping and office complex in India-held Kashmir, a region claimed by both Pakistan and India. As per an announcement made by Emaar, the development programme will include a shopping mall and multi-purpose commercial tower in Srinagar. The announcement of what the region’s government said...
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Much more is needed
AVERTING sovereign default is important, so let’s assume we manage to do it. A more relevant question is why is Pakistan facing default? Looking at the seven years from FY16 to FY22, Pakistan’s cumulative current account deficit was $74.5 billion, while the State Bank’s forex reserves fell by $3.6bn during this period. This means Pakistan...
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Irate Imran threatens legal action against police officers involved in ‘attack’ on his Zaman Park residence
PTI Chairman Imran Khan on Sunday said he would take legal action against Punjab police, including “every single officer” who participated in the “attack” on his Zaman Park residence in Lahore a day earlier. A visibly irate Imran made the remarks while addressing the nation a day after hours-long clashes were reported between PTI workers...
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Sindh changes school, college timings for Ramadan 2023, Here’s all you need to know about Nisab of Zakat for Ramadan 2023
KARACHI – The provincial administration of Sindh has reduced school timings by two hours during the holy month of Ramadan. Sindh School Education and Literacy Department announced the updated timings for all state-owned and private educational institutions in the regions for Ramadan 2023. With new timings in place, the classes will now start at 7:30...
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“Not captaincy material” Sikander Bakht aims another dig at Babar Azam
Former Pakistan international Sikander Bakht has unleashed a fresh diatribe aimed at Babar Azam for his “lack of leadership” skills. The former fast bowler made his intentions known during a YouTube interview and did not waste the opportunity to criticise the captain of Pakistan’s national cricket team. “Honestly speaking, Babar has to learn a lot as...