The country’s overall oil sales recorded a month-on-month increase of 5 per cent and 20pc year-on-year to 1.27 million tonnes in September. According to Arif Habib Ltd (AHL), petrol sales rose 2pc to 0.63m tonnes in September from 0.62m tonnes in August while sales jumped 22pc year-on-year. An 8pc rise was recorded in high-speed diesel (HSD) to 0.49m tonnes from 0.46m tonnes in August. Howev
Two agriculture companies from Russia and Pakistan have signed barter deals to trade chickpeas and lentils from Russia in exchange for rice, mandarins and potatoes, Russia’s TASS news agency reported on Tuesday. Grappling with payment issues due to Western sanctions over Russia’s invasion of Ukraine in February 2022, Moscow is pursuing barter deals that strip away the need for payment exchange,
Shares at Pakistan Stock Exchange (PSX) traded in the red on Monday, shedding nearly 200 points. The benchmark KSE-100 index plunged 730.69 points, or 0.9 per cent, to stand at 80,561.44 points from the previous close of 81,292.13 points at 1:23pm. The index closed at 81,114.20, down by 177.93 points, from the previous close. Awais Ashraf, director research at AKD Securities, noted that the
THE government is desperate to increase its abysmally low tax collection to meet the stringent revenue conditions of the new $7bn funding programme approved by the IMF recently. In order to meet the tax target, the FBR has worked out a new compliance and enforcement plan, which primarily relies on punitive actions against tax evaders and cheaters. The authorities hope that it will compel existi
Over the last few weeks, local and international media have reported a “massive” oil and gas find in the offshore territory of Pakistan. According to some estimates, the find could be the “fourth largest” oil and gas reserve in the world. That would be a game-changer in more than one way. Today, Venezuela has the largest amount of oil reserves, with over 300 billion barrels of crude oil, follow