Express
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Rupee gains against USD in interbank market | The Express Tribune
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[ad_1] KARACHI: The Pakistani rupee gained Rs2.23 against the US dollar on Wednesday in the interbank market after days of depreciation by the local currency. The rupee touched Rs200.59 against the US dollar. The currency had dropped to a record low of Rs202.83 on Tuesday. The value of the dollar had risen sharply by a…
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K-Electric seeks Rs4.86 tariff increase | The Express Tribune
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[ad_1] ISLAMABAD: K-Electric has requested the National Electric Power Regulatory Authority (Nepra) to increase power tariff by Rs4.86 per unit on account of fuel cost adjustment (FCA) for April 2022. In its petition, the private power utility pointed out that the major impact on the monthly FCA came from the increase in prices of furnace…
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Use of plastic money may become expensive | The Express Tribune
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[ad_1] ISLAMABAD: The government may impose 1% tax on all credit and debit card transactions conducted in Pakistan to buy goods abroad or during international travel, aimed at saving the fast depleting foreign exchange reserves. It is also planning to increase the tax on international air travel by four times to Rs50,000 per Business Class…
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NEPRA moves to break monopoly | The Express Tribune
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[ad_1] ISLAMABAD: The National Electric Power Regulatory Authority (Nepra) has taken a landmark decision by granting the market operator licence to the Central Power Purchasing Agency (Guarantee) Limited (CPPA-G) in order to break the monopoly of power distribution companies. The idea of Competitive Trading Bilateral Contract Market (CTBCM) was floated around 30 years ago in…
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Women’s participation in financial sector vital | The Express Tribune
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[ad_1] KARACHI: Pakistan may increase economic activities significantly by supporting women to play their due role in different stages of management and labour in businesses, as gender diversity has worked well in developing and developed economies around the world. Women’s participation in Pakistan’s economy stands at 21% compared to 79% for men at present. However,…
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Rupee dips to new record low | The Express Tribune
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[ad_1] KARACHI: Pakistan’s currency became highly volatile on Tuesday, as it dropped 1.37% (or Rs2.77) to close at an all-time low at Rs202.83 against the US dollar in the inter-bank market in the wake of mounted pressure of import payments and foreign debt repayments. The market opened in the morning at Rs200.06 and saw the…
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Expressway to link Gwadar with highways | The Express Tribune
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[ad_1] BEIJING: The Eastbay Expressway, when it is opened for traffic, will connect Gwadar Port with Pakistan’s national highways and expand transportation between Gwadar and other places in the country and even other regional states, said Chinese Foreign Ministry spokesperson Zhao Lijian at a regular press conference on Monday. “The artery will further harness Gwadar…
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Lack of RLNG threatens $20b export target | The Express Tribune
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[ad_1] LAHORE: Textile exporters have urged the government to immediately restore re-gasified liquefied natural gas (RLNG) supply to the captive power plants (CPPs) of industrial units in a bid to avert any delay in meeting the $20 billion textile export target for the current fiscal year. Further delay may hit industrial production hard and eventually…
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CNG sector floats $2.1 billion import bill saving plan | The Express Tribune
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[ad_1] ISLAMABAD: The compressed natural gas (CNG) industry on Tuesday unveiled a plan that could save $2.1 billion in import bill by providing significantly cheaper gas for vehicles provided the government facilitated the private sector in liquefied natural gas (LNG) import. At present, government companies have monopoly over LNG import and distribution, though all necessary…
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Cement sales decrease 16% | The Express Tribune
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[ad_1] LAHORE: Cement sales contracted 15.85% to 3.32 million tons in May 2022 compared to sales of 3.94 million tons in the same month of previous year. According to data released by the All Pakistan Cement Manufacturers Association, domestic cement sales of the industry stood at 3.15 million tons during May compared to 3.2 million…
