Business News
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Petrol price unchanged at Rs149.86 per litre
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[ad_1] — AFP/File ISLAMABAD: The Finance Division said Thursday the price of petroleum products will remain unchanged till April 15. The Finance Division, in the statement, said the decision was taken in line with Prime Minister Imran Khan’s announcement on the in the fortnightly review on February 28. “Subsequently, the government will bear the additional…
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SBP reserves plunge $2.9b on loan repayment | The Express Tribune
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[ad_1] KARACHI: The foreign exchange reserves held by the central bank decreased 19.5% on a weekly basis, according to data released by the State Bank of Pakistan (SBP) on Thursday. On March 25, the foreign currency reserves held by the SBP were recorded at $12,047.3 million, down $2,915 million compared with $14,962.4 million on March…
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Country fails to meet wheat target | The Express Tribune
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[ad_1] ISLAMABAD: Pakistan has missed the wheat production target as the government projected 26.8 million tons of output for 2021-22 from an area of 8.99 million hectares, which is 2.5% lower than the previous year’s production. In a meeting on Thursday, the Federal Committee on Agriculture (FCA), which met under the chairmanship of Minister for…
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Moody’s terms no-confidence motion credit negative | The Express Tribune
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[ad_1] KARACHI: Moody’s Investor Service has termed the no-confidence motion against Prime Minister Imran Khan credit negative and expressed concern that it could act as a hurdle in the way of a smooth reform process in Pakistan. “We view the no-confidence motion as credit negative because it raises significant uncertainty over policy continuity, as well…
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Rupee at new low as it crosses 183 | The Express Tribune
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[ad_1] KARACHI: The rupee felt the heat of prevailing political uncertainty in the country and slipped below 183 to close at 183.48 against the US dollar in the inter-bank market on Thursday. According to the State Bank of Pakistan (SBP), the rupee had closed at Rs182.64 on Wednesday. “Rupee crosses Rs183 level, records new low…
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FBR misses March tax target | The Express Tribune
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[ad_1] ISLAMABAD: The Federal Board of Revenue (FBR) claimed on Thursday that it collected Rs4.382 trillion in taxes during the first nine months of current fiscal year but again missed the monthly target by a wide margin due to its failure to increase reliance on direct taxes. According to the provisional information, the FBR received…
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Oil prices dive as US moves to release reserves | The Express Tribune
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[ad_1] HOUSTON: Oil prices tumbled on Thursday with the United States set to announce the largest ever release from its Strategic Petroleum Reserve, while OPEC+ stuck to its existing deal for May output. Brent crude futures for May, which expire on Thursday, were down $5.28, or 4.65%, at $108.17 a barrel by 12:31 AM ET.…
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Dawood for consumer protection in e-commerce | The Express Tribune
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[ad_1] ISLAMABAD: The provincial e-commerce councils should establish an effective coordination mechanism to improve the consumer protection regime in a bid to lift consumer confidence in online shopping, said Adviser to Prime Minister on Commerce Abdul Razak Dawood. He made the remarks while speaking at the eighth meeting of the National e-Commerce Council (NeCC) on…
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Tajik envoy emphasises trade promotion | The Express Tribune
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[ad_1] KARACHI: Pakistan and Tajikistan should enhance the level of trade and deepen economic ties to explore the avenues for bilateral cooperation, said Ambassador of Tajikistan in Pakistan Ismatullo Nasredin. Speaking to the business community at the Federation of Pakistan Chambers of Commerce and Industry, he added that urged the business community of Pakistan to…
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Govt to probe local carmakers | The Express Tribune
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[ad_1] ISLAMABAD: Amid talk of malpractices behind the massive jump in car prices, the government has decided to probe carmakers for their alleged intention to plunder the consumers. In a meeting of the monitoring committee for the automobile industry on Thursday, the Pakistan Association of Automotive Parts and Accessories Manufacturers (Paapam) alleged that the local…
