Business News
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‘PM’s relief package for households earning below Rs40,000’ | The Express Tribune
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[ad_1] ISLAMABAD: Finance Minister Miftah Ismail said on Saturday that the incumbent government’s relief package ‘Sasta Petrol Sasta Diesel’, as announced by Prime Minister Shehbaz Sharif, would protect poor families from the “storm of inflation” left by the previous government and the recent hike in fuel prices. During a press conference, the finance minister outlined…
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Urea prices fixed at Rs1,768 per bag | The Express Tribune
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[ad_1] ISLAMABAD: The Ministry of Industries and Production has fixed the maximum retail price of urea at Rs1,768 per 50kg bag, aimed at providing relief to the farmers across the country. According to a notification issued by the ministry, the provinces and federal agencies have been allowed to add an allowance to be notified later…
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SBP injects Rs1.8tr to rationalise bond yields | The Express Tribune
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[ad_1] KARACHI: The central bank has provided Rs1.82 trillion to commercial banks for an unusual longer period of 63 days in an apparent bid to rationalise the higher yields on sovereign bonds ahead of the treasury bills auction next week. Earlier, the government raised less-than-targeted funds because of the higher yields on T-bills and Pakistan…
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Rupee recovers to one-week high | The Express Tribune
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[ad_1] ISLAMABAD: Pakistani currency partially recovered 1.13% (or Rs2.25) to a one-week high at Rs199.76 against the US dollar in the inter-bank market, ending the previous 15 working days’ long free-fall on Friday. The currency regained after the PML-N coalition government took the much-awaited tough decision of increasing petroleum product prices with effect from May…
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K-Electric’s tariff rises Rs4.8 per unit | The Express Tribune
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[ad_1] ISLAMABAD: The National Electric Power Regulatory Authority (Nepra) has allowed K-Electric an increase of Rs4.8269 per unit in power tariff for March 2022 on account of fuel cost adjustment. The increase in tariff will put a burden of Rs7.86 billion on the power consumers in Karachi. The company will recover the tariff adjustment in…
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Ministries face steep budget cut | The Express Tribune
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[ad_1] ISLAMABAD: The cash-starved government has proposed a steep reduction in the development budget allocation for the ministries in the next fiscal year against the original spending plans for the outgoing year but has kept Rs40 billion for the parliamentarians’ schemes despite fiscal constraints. The Ministry of Planning and Development has issued indicative budget ceilings…
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PM woos Japanese investors | The Express Tribune
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[ad_1] ISLAMABAD: Prime Minister Shehbaz Sharif, while underscoring the government’s efforts to create business-friendly opportunities, has invited new Japanese companies to capitalise on such opportunities and make investment in Pakistan. The prime minister, in a meeting with Japan Ambassador Mitsuhiro Wada on Friday, assured him that Pakistan government would extend all possible facilitation to the…
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Businessmen denounce fuel price hike | The Express Tribune
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[ad_1] ISLAMABAD: Businessmen have slammed the government’s decision to make a massive hike of Rs30 per litre in prices of petroleum products, which is the highest-ever increase in one go. They termed it a very harsh decision that would unleash a new wave of inflation in the country and cause a hefty increase in the…
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Pak-China red chilli farms achieving bumper harvest | The Express Tribune
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[ad_1] MULTAN: Six model farms under Pakistan-China Red Chilli Contract Farming Project are achieving a bumper harvest in southern Punjab and northern Sindh, with an estimated yield of 700 tons of dried chillies. According to China Machinery Engineering Corporation’s (CMEC) agricultural project leader in Pakistan Dai Bao, crops in the six model farms with a…
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Customs process needs upgrade | The Express Tribune
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[ad_1] KARACHI: Despite paying technology upgrade and container scanner charges for around 18 years, no wide-scale upgrading has taken place in customs’ processes, say traders. Federation of Pakistan Chambers of Commerce and Industry (FPCCI) President Irfan Iqbal Sheikh expressed his dismay over paying the technology upgrade and container scanner charges since 2005 but no significant…
