Traders’ bodies on Monday announced to observe a complete shutter down strike and take to the streets on Wednesday (Aug 28) to protest against the imposition of various taxes by the government. “The country is already witnessing historic inflation, and the government has further vitiated the fragile socioeconomic conditions by imposing more taxes,” Haroonur Rasheed, central president of one of
Shell Pakistan Ltd (SPL) on Monday reported a 62.85 per cent decline in its profit-after-tax (PAT) to Rs1.3 billion for the half year ended on June 30 compared to Rs 3.5bn in the same period of 2023. The board of directors announced that the company’s sales rose slightly to Rs223bn in January-June compared to Rs215bn in the corresponding period last year.SPL maintained its market share through
The National Assembly’s Standing Committee on Privatisation was informed on Monday that Pakistan International Airlines Company Ltd (PIACL) incurred a loss of Rs75 billion in 2023, with overall liabilities of Rs825bn and total assets of Rs161bn. A meeting of the committee, chaired by MNA Dr Muhammad Farooq Sattar, recommended that employees’ rights be protected during the privatisation process
Federation of Pakistan Chambers of Commerce and Industry (FPCCI) President Atif Ikram Sheikh has urged the State Bank of Pakistan (SBP) to immediately bring down its policy rate to 15 per cent to enable local exporters to compete on the regional and international markets with reduced cost of capital. He added that this step should be accompanied by fulfilling the government’s promise to rationa
While completing the process for Rs1.90 per unit additional quarterly tariff adjustment in electricity rates across the country, the National Electric Power Regulatory Authority (Nepra) censured all the power companies on Monday for discouraging solar net metering to consumers. At a public hearing presided over by Nepra Chairman Waseem Mukhtar, the Central Power Purchasing Agency (CPPA) — the c