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business and stock

CNG stations reopen across Sindh after six-days

KARACHI: The Compressed Natural Gas (CNG) stations reopened on Sunday after being closed for  six-days in Sindh province. The Sui Southern Gas Company (SSGC) had suspended gas supply to all CNG stations due to a shortage of million square feet

Karachi administration fails to control rising prices of edibles

KARACHI: Most essential edible items, including flour, are being sold at prices way higher than those on the official price list in the metropolis, M.M News learnt on Saturday. Citizens have accused relevant authorities, including the Sindh government and Karachi

 Industrial zones are being established in KP for creating employment: Asad Qaisar

SWABI: National Assembly Speaker Asad Qaisar has said that industrial zones are being established in various areas of Khyber Pakhtunkhwa for creating employment opportunities while efforts are being made to increase trade with Afghanistan and Central Asian State. While addressing

Textile exports increased 7.79% to $7.44bn in first half of fiscal year

ISLAMABAD: The exports of textile commodities witnessed an increase of 7.79 percent during the first half (H1) of the current fiscal year as compared to the corresponding period of last year. According to the latest data by Pakistan Bureau of

FBR seeks budget proposals for next fiscal year

ISLAMABAD: The Federal Board of Revenue (FBR) has invited proposals from various stakeholders on Income Tax and Customs for consideration in the upcoming budget for the fiscal year 2021-22. “The Federal Board of Revenue is currently engaged in formulation of

Prices of petroleum products hiked again

ISLAMABAD: The PTI-led federal government on Friday increased the prices of all petroleum products by three to five percent, according to a notification. According to an announcement by the Ministry of Finance, the ex-depot prices of high-speed diesel (HSD) and

Petroleum prices likely to hike in near future: Sources

ISLAMABAD: The federal government has decided to hike the prices of petroleum products. According to sources, a summary of increase in prices of petroleum products has been submitted to the Prime Minister of Pakistan Imran Khan, under which a major

Sindh govt seeks ban on tomato imports, steps for onion exports

KARACHI: The Sindh government has written a letter to the federal government seeking a ban on import of tomatoes and taking steps for the export of onion crop. Sindh’s Agriculture Department has written a letter to Federal Minister for National

OGRA recommends increasing petrol prices by Rs11.95 per litre

ISLAMABAD: The government is expected to approve a hefty increase in the prices of petroleum products. Sources informed that the Oil and Gas Regulatory Authority (OGRA) has sent a new summary to the Petroleum Division recommending to increase the price

Moody’s forecast 1.5% GDP growth, 4.4% in next fiscal year

ISLAMABAD: Moody’s Investor Service has forecast that Pakistan’s economy will grow at a modest rate of 1.5 percent during the current fiscal year which will accelerate to 4.4% in the next fiscal year. “Economic activity will remain below pre-outbreak levels,

Govt releases over Rs319bn for various development projects

KARACHI: The federal government has released Rs. 319.56 billion for various ongoing and new social sector uplift projects till date under its Public Sector Development Programme (PSDP) 2020-21. According to the latest data released by the Ministry of Planning, Development

Textile sector showed huge export growth in July to Dec 2020: Razak Dawood

ISLAMABAD: Advisor to Prime Minister for Commerce and Investment Abdul Razak Dawood has said that the textiles sector is maintaining its export growth, which shows the exports of home textiles increased by 16 percent to $ 2,017 million for July-December

Pakistan issues LNG import licenses to two private companies

ISLAMABAD: For the first time in the country’s history, Pakistan has permitted the private sector to import Liquefied Natural Gas (LNG) by issuing import licenses to at least two companies. The Oil and Gas Regulatory Authority (OGRA) issued 10-year term

KP govt to establish cryptocurrency mining plant

PESHAWAR: The Khyber Pakhtunkhwa (KP) government has approved funds for establishing a cryptocurrency mining plant after the authorities decided to give permission to interested businesses party. While talking to media KP Advisor on Information Technology, Ziaullah Bangash said that the

CNG stations to remain closed till Thursday in Sindh: SSGC

KARACHI: The Sui Southern Gas Company (SSGC) has announced to keep compressed natural gas (CNG) stations in Sindh closed for three days from Monday to Wednesday. According to an official notification issued on Monday, CNG in the province will now

Power tariff increased under fuel adjustment charges

ISLAMABAD: The National Electric Power Regulatory Authority (NEPRA) has notified Rs 1.6 per unit increase for October and November 2020 under the monthly fuel adjustment mechanism. NEPRA had conducted a public hearing on December 30, on the petition filed by

‘Good News’: Pakistan in talks with IMF to restart fiscal programme

(REUTERS): Governor State Bank of Pakistan (SBP) Dr Reza Baqir has announced that the country was in talks with the International Monetary Fund (IMF) to put the fiscal support programme back on track. “We hope to have good news for

Seven suspended as committee formed to probe power breakdown

ISLAMABAD: The Central Power Generation Company (CPGC) has suspended seven officials of Guddu Thermal Power Station on account of the negligence of duty which caused power failure across the country. According to a notification, the PTI-led federal government has formed

A gift from PM Imran for Karachi, Governor Sindh on 52 fire tenders

KARACHI: Sindh Governor Imran Ismail today (Sunday) announced the arrival of 52 modern fire tenders in Karachi, terming it ‘a great gift’ for the metropolis by Prime Minister Imran Khan. He was addressing a press conference at the Karachi Port,

Pakistan, Azerbaijan need to enhance trade cooperation: Envoy Ali Alizada

ISLAMABAD: Azerbaijan Ambassador, Ali Alizada has urged the Pakistani business community to focus on promoting trade relations that would yield highly beneficial results for the economies of both countries.  During a meeting with the business community at the Islamabad Chamber

Efforts underway to restore power supply in affected areas: Omar Ayub

ISLAMABAD: Federal Minister for Power, Petroleum and Natural Resources Omar Ayub Khan has said that gradual restoration of the power supply is underway after a massive power breakdown plunged the entire country into darkness minutes before midnight on Saturday. While

KCCI urges PM to take notice of occupying Gul Ahmed’s yard by Pak Railways

KARACHI: The Karachi Chamber of Commerce & Industry (KCCI) has condemned the action taken against Gul Ahmed Textile Mills Limited, saying that the mills’ legally acquired yard was sealed by Pakistan Railways without any court order or legal justification. KCCI

Pakistan’s exports to UK crosses $ 1 billion: Razak Dawood

ISLAMABAD: Advisor to Prime Minister for Commerce and Investment Abdul Razak Dawood has claimed Pakistan’s exports to the United Kingdom (UK) have crossed the US dollars one billion in the first six months of fiscal year 202-121. On a social

Pakistan’s exports to US increased by 10.9%: Report

ISLAMABAD: In a report recently released showed that the US exports to Pakistan have been increased by 10.9 percent during July-November 2020. According to the report data released by the US Department of Commerce also shows that Pakistan’s exports to

Exports increased 5% in first half of fiscal year, 18.31% in Dec

ISLAMABAD: The exports from the country increased by 4.98 percent during the first half (H1) of the current fiscal year (2020-21) as compared to the corresponding period of last year, Pakistan Bureau of Statistics (PBS) reported. The exports from the

World food price index rises for seventh month in Dec: FAO

NEW YORK: World food prices rose for the seventh consecutive month in December, led by dairy products and vegetable oils, according to the Food and Agriculture Organization of the United Nations. The FAO Food Price Index averaged 107.5 points in

FBR constitutes committee to simplify tax return form

ISLAMABAD: The Federal Board of Revenue (FBR) on Friday formed a body for simplification of income tax return form for Tax Year 2021. According to a statement, as part of various reform initiatives and in pursuance of the special instructions of

Renowned businessman Seth Abid passes away

LAHORE: Renowned Pakistani businessman Seth Abid passed away in Karachi on Friday. He was 85. Family sources say Seth Abid was in Karachi when he passed away. His funeral prayers will be offered tomorrow after Asar prayers in the city.

Three Pakistani entrepreneurs named among top 10 global startups

KARACHI: A ceremony to commemorate and motivate the students whose startups have been named in the top 10 companies of Pakistan by the Japan International Cooperation Agency was organized under the auspices of the Office of the Students’ Advisor, the

NKATI appeals PM to ban cotton yarn export

KARACHI: Faisal Moiz Khan, President North Karachi Association of Trade & Industry (NKATI), Sadiq Mohammad, Chairman UFG, have appealed to Prime Minister Imran Khan to an immediate ban on the export of cotton yarn for continuing industrial production and save