Business News
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Pakistan, Uzbekistan to sign PTA | The Express Tribune
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[ad_1] ISLAMABAD: Pakistan and Uzbekistan will sign a preferential trade agreement this week to lower duties on nearly three-dozen products in the range of 20% to 100% aimed at giving a boost to the trade value that remains very thin…
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OGRA hikes gas price by up to 16.37% | The Express Tribune
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[ad_1] ISLAMABAD: The Oil and Gas Regulatory Authority (Ogra) has increased the average prescribed price of gas by up to 16.37% besides curtailing new gas schemes and connections. In two separate decisions on the estimated revenue requirement (ERR) of public…
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Oil, gas demand remains robust | The Express Tribune
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[ad_1] KARACHI: Although the demand for petroleum products and gas remained robust in the domestic economy and households of Pakistan, the output of crude oil and gas from domestic fields has declined, enhancing the nation’s reliance on expensive imported fuels….
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Saudi oil facility to come into effect this month | The Express Tribune
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[ad_1] ISLAMABAD: The energy woes of Pakistan are likely to ease as first oil tanker under the Saudi Arabian oil credit facility is expected to reach Pakistan in the third week of March. In a meeting with a Saudi Arabian…
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Trade deficit stays high at $32b | The Express Tribune
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[ad_1] ISLAMABAD: Pakistan’s trade deficit remained significantly high at $32 billion in the first eight months of current fiscal year as the pace of increase in exports stood at nearly half of the surge in imports, making the government’s external…
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State Bank issues QR code standards | The Express Tribune
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[ad_1] KARACHI: The State Bank of Pakistan (SBP) has issued standards for quick response (QR) code-based payments in Pakistan to accelerate digitisation of retail payments. According to a press release issued on Wednesday, the standards are to be met for…
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Taxes on seeds to disincentivise farmers | The Express Tribune
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[ad_1] LAHORE: The imposition of 17% sales tax on locally produced or imported seed coupled with 3% additional tax on unregistered seed firms will have a cumulative effect of 25% on farmers, said Pakistan Hi-tech Hybrid Seed Association (PHHSA) President…
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World Bank does not verify growth | The Express Tribune
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[ad_1] ISLAMABAD: Contrary to the claims made by Prime Minister Imran Khan and his cabinet ministers, the World Bank has not verified the 5.6% provisional economic growth rate for Pakistan for the previous fiscal year. Pakistani authorities are misstating the…
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Market watch: Soaring energy prices drag stocks down | The Express Tribune
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[ad_1] KARACHI: Bears returned to the Pakistan stock market on Wednesday as the KSE-100 index dipped nearly 300 points, driven down by the spike in global energy prices with no signs of easing of geopolitical tensions. A surge in international…
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Pakistan turns to diesel for power generation | The Express Tribune
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[ad_1] Pakistan and Bangladesh are now opting for the expensive and dirty diesel to generate power as the nations struggle to secure liquefied natural gas (LNG) shipments following a supply crunch due to Russia’s invasion of Ukraine. In January, Pakistan’s…
