Business News
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Petrol price to remain unchanged till December 15
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[ad_1] — AFP/File ISLAMABAD: The government on Tuesday decided to leave the prices of petrol, kerosene, and light diesel unchanged till December 15, a notification from the Finance Division read. According to the notification, the new prices will be effective from December 1. The petrol price will remain unchanged at Rs145.82 per litre, and the…
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Benefits from reduction in oil prices will be transferred to people: Tarin
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[ad_1] In this handout picture released by National Assembly on June 11, 2021, Finance Minister Shaukat Tareen presents the annual fiscal budget at the National Assembly in Islamabad. Photo: AFP Advisor to the Prime Minister on Finance Shaukat Tarin Friday said the government has abolished all taxes on petrol and that the benefits derived from…
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Petroleum dealers call off nationwide strike
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[ad_1] — AFP/File Petroleum dealers on Thursday decided to call off their countrywide strike after talks between the Petroleum Division and Pakistan Petroleum Dealers Association (PPDA) were successful. According to a notification issued by the Petroleum Division, the parties appreciated the proposal of an increase of Rs0.99 per liter increase in petrol dealer profit. Dealer…
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IEA chief urges OPEC nations for measures to push oil prices down
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[ad_1] PARIS: The head of the International Energy Agency on Wednesday called on OPEC and its allies to take measures to help bring oil prices down to “reasonable levels”. “I very much hope to see in the next meeting or meetings they… make the necessary steps in order to comfort the global oil markets and…
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Petroleum levy will be increased by Rs4 per litre each month: Tarin
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[ad_1] ISLAMABAD: Adviser to Prime Minister on Finance and Revenue Shaukat Tarin on Monday said petroleum development levy should be increased by Rs4 per litre every month as the government aims to take the petroleum development levy up to Rs30. Speaking at a press conference after receiving a confirmation from the IMF regarding the staff-level…
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SBP governor stresses need for expeditious investigation of white-collar crimes
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[ad_1] State Bank of Pakistan (SBP) Governor Dr Reza Baqir. — Twitter/File KARACHI: There is a need for closer cooperation amongst banks, the central bank and the Federal Investigation Agency (FIA) so that “white-collar crimes are expeditiously investigated and fraudsters are apprehended and prosecuted”, State Bank of Pakistan (SBP) Governor Dr Reza Baqir stressed on…
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SBP hikes interest rate by 150 bps to 8.75%
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[ad_1] — AFP/File KARACHI: The State Bank of Pakistan (SBP) on Friday increased its benchmark policy rate by 150 basis points due to risks related to inflation. According to a statement issued by the central bank, it has decided to increase the interest rate to 8.75%. Earlier, the central bank had brought forward its monetary…
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Turkish lira hits record low as central bank cuts interest rate
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[ad_1] — AFP/File ISTANBUL: The Turkish lira sank to a record low against the dollar on Thursday after the central bank slashed interest rates for the third consecutive month following pressure to do so from President Recep Tayyip Erdogan. The bank cut its policy rate from 16% to 15% despite rising inflation and a fast-depreciating…
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PM Imran Khan rejects proposal to increase petrol price
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[ad_1] ISLAMABAD: The Oil and Gas Regulatory Authority’s (OGRA) recommendation to hike the price of petroleum products has been rejected by Prime Minister Imran Khan Monday. In its recommendation to the prime minister, OGRA had recommended jacking up the price of diesel and petrol by Rs5 per litre. Therefore, following the prime minister’s decision, the…
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Pak rupee slumps to an all-time low of 175.73 against US dollar
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[ad_1] — AFP/File KARACHI: A Rs1.81 decline in the inter-bank market during intra-day trading due to current account deficit pressure dragged the Pakistani rupee to a record low on Friday against the US dollar, with the exchange rate sliding to Rs175.73. The steep fall was attributed to the panic accumulation of dollars over concerns regarding…
