Ahead of a substantial price hike, the Pakistan Petroleum Dealers Association (PPDA) on Thursday accused major oil marketing companies (OMCs) of creating an artificial shortage of petroleum products to earn windfall inventory gains and appealed to the government and the Oil and Gas Regulatory Authority (Ogra) for urgent intervention in the situation. Oil industry officials said the price hike i
The Central Development Working Party (CDWP) on Thursday cleared a total of 26 development projects worth Rs900 billion, most of them in the transport and communication sector. Presided over by Deputy Chairman Planning Commission Mohammad Jehanzeb Khan, the CDWP itself approved 17 projects worth Rs33bn and recommended nine others worth Rs867bn to the Executive Committee of the National Economic
The profits and dividends on foreign investment have increased by almost six times during the first 11 months of the current fiscal year over the same period of the last fiscal. The profits and dividends were deliberately restricted by the State Bank (SBP) in FY23 to save its reserves at a time when the country had reached close to sovereign default at the end of June last year. Data issued
The budget proposals for FY25 will stifle growth and innovation in the informal technology sector and exacerbate brain drain through high taxation, the chief of the Federation of Pakistan Chambers of Commerce and Industry (FPCCI) said on Thursday. Atif Ikram Sheikh, the FPCCI chief, said at a press conference that despite repeated assurances from the incumbent government, budgetary proposals su
The Ministry of Maritime Affairs has turned down a suggestion put forward by members of the Senate Standing Committee on Maritime Affairs for administrative merger of two key ports to reduce unnecessary administrative expenses and streamline their affairs. The committee meeting, held here on Thursday under the chairmanship of Senator Faisal Vawda, discussed development and expansion of the mari