After a substantial decline in petroleum prices for the current fortnight mainly due to the rupee’s appreciation against the US dollar, business leaders have asked the caretaker government to reduce power tariffs and improve gas supply on a priority basis. Businessmen Group chairman Zubair Motiwala and Karachi Chamber of Commerce Industry (KCCI) President Iftikhar Ahmed Sheikh, in a statement
Large-scale manufacturing (LSM) registered year-on-year growth of 2.52 per cent in August, reversing the trend after 11 consecutive months of contraction, data released by the Pakistan Bureau of Statistics showed on Monday. On month-on-month, it witnessed a growth of 8.44pc. This indicates a resurgence in industrial production, a development that followed the easing of opening letters of credit
Pakistan’s foreign assistance inflows rose by about 58 per cent in the first quarter of the current fiscal year. In its monthly report on Foreign Economic Assistance (FEA), the Economic Affairs Division (EAD) on Monday said against its annual target of $17.6bn, total FEA in the July-September quarter amounted to $3.527bn when compared to just $2.234bn of the same period last year, an increase o
The Federal Board of Revenue (FBR) has ruled out the existence of any proposed amnesty scheme targeting non-customs paid (NCP) vehicles, which comes at a time when dealers have been noticeably hiking prices across various categories over the past few weeks. “There is no such proposal under discussion or consideration in FBR”, the spokesperson Afaq Ahmed Qureshi told Dawn on Monday. The socia
The outgoing week saw the benchmark index crossing 49,000 points, which is the level last seen in June 2017. Arif Habib Ltd said the stock market maintained its bullish trend on the back of robust corporate results that exceeded participants’ expectations. A record-setting 27th consecutive session of the strengthening rupee against the dollar boosted investors’ confidence. Furthermore, Pakis