Business News
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SBP’s forex reserves rise $2.1b to $10.3b | The Express Tribune
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[ad_1] KARACHI: The foreign exchange reserves held by the central bank increased 14.7% on a weekly basis, according to data released by the State Bank of Pakistan (SBP) on Thursday. On June 24, the foreign currency reserves held by the SBP were recorded at $10,309 million, up $2,071 million compared with $8,237.7 on June 17.…
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Exporters demand competitive tariffs | The Express Tribune
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[ad_1] KARACHI: Textile exporters on Thursday called on Prime Minister Shehbaz Sharif to take effective measures for sustainable growth of the industry, continue providing regionally competitive energy tariffs, fix concessionary rates of other utilities and manage exchange rates of the US dollar and euro to bring down the cost of raw material imports. The value-added…
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Karot power project starts commercial operation | The Express Tribune
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[ad_1] ISLAMABAD: Karot Hydropower Project, the first hydel investment project under the ChinaPakistan Economic Corridor (CPEC), which has been developed and provided investment by China Three Gorges Corporation (CTG), was put into full commercial operation on June 29, 2022. The Karot project’s commercial operation ceremony was held at the Power House to officially inaugurate the…
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PM seeks investment in clean energy | The Express Tribune
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[ad_1] ISLAMABAD: Prime Minister Shehbaz Sharif has invited Chinese companies to invest in the huge potential of renewable energy, particularly in solar power, in Pakistan. “Deepening economic cooperation is critical for Pakistan’s socio-economic uplift,” he said and highlighted the significance of China-Pakistan Economic Corridor (CPEC) as a transformational project for the mutual benefit and development…
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FBR crosses Rs6.1tr tax target | The Express Tribune
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[ad_1] ISLAMABAD: The Federal Board of Revenue (FBR) has, for the first time in recent history, surpassed the annual tax collection target of Rs6.1 trillion on the back of higher imports, as Finance Minister Miftah Ismail vowed to reward the taxmen by ending disparity in their salaries. The FBR provisionally collected around Rs6.125 trillion till…
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Govt jacks up petrol price by Rs14.85 per litre | The Express Tribune
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[ad_1] The federal government on Thursday announced another hike in the prices of all petroleum products – especially petrol by Rs14.85 per litre and high-speed diesel (HSD) by Rs13.23 per litre, with the change set to take effect from midnight. With the change, petrol will be available for Rs248.74 while the HSD for Rs276.54. Likewise,…
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Govt drops another oil bomb on people | The Express Tribune
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[ad_1] ISLAMABAD: The coalition government on Thursday dropped another oil bomb as it increased the prices by up to Rs18.83 per litre on account of petroleum levy on these products. The new prices will be effective from Friday (today). Earlier, the government had been charging zero petroleum levy and general sales tax on petroleum products…
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CPEC’s Karot Hydropower Plant put into full commercial operation | The Express Tribune
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[ad_1] ISLAMABAD: Karot Hydropower Plant, the first hydropower investment project under the China-Pakistan Economic Corridor (CPEC), was put into full commercial operations on Wednesday. Speaking at a ceremony held at the plant for announcing the commercial operations of the project, Wu Shengliang, chairman of the China Three Gorges International Corporation, said the project serves as…
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Rupee continues recovery against USD, inter-bank rate at 204.85 | The Express Tribune
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[ad_1] KARACHI: The Pakistani rupee recovered 0.13% (or Rs0.27) on a day-to-day basis to a three-week high of Rs204.85 against the US dollar on the last day of the outgoing fiscal year on Thursday. Cumulatively, in the outgoing fiscal year, the rupee slumped a record 30% to Rs204.85 on Thursday compared to the close of…
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Punjab beats tax collection target | The Express Tribune
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[ad_1] LAHORE: The Punjab Revenue Authority (PRA) has surpassed the revised tax collection target of Rs165.5 billion for financial year 2021-22. According to the provisional figures, the PRA’s collection stood at Rs168 billion until June 28, which was 108% of the original target of Rs155.9 billion and 101.5% of therevised target. According to a PRA…
