The Federal Board of Revenue (FBR) on Thursday unblocked the bank accounts of Pakistan International Airlines after the issue of non-payment of outstanding dues was settled. The FBR had blocked PIA’s bank accounts over non-payment at a time when the European Union Aviation Safety Agency (EASA) team was visiting Pakistan for a safety audit, raising hopes that a ban imposed on PIA flights to Eu
The auto industry is facing a severe setback as the investments made are taking a hit due to supply chain disruptions and weak demand. Despite significant investments in the latest machinery and infrastructure, the underutilisation of resources is becoming a growing concern for the industry. “Our efficiency got affected due to current economic conditions as vendors’ current capacity utilisat
The Senate Standing Committee on National Food Security and Research asked the Ministry of National Food Security to urgently address complaints of farmers regarding non-availability of urea fertiliser for the wheat crop in the country. Despite a reported surplus, the fertiliser was found to be scarce in the market with black market prices soaring to Rs5,600 per bag, well above the government-c
Industrialists in the economic nerve centre of Pakistan have announced a complete production shutdown on Monday (Dec 4) to force the caretaker government to reverse the unprecedented hikes in the gas tariffs. They estimate a per day export loss of $47 million from the port city. Businessmen have already displayed protest banners at the offices of all trade associations, demanding the governm
Mainly because of lower prices in the international market, the caretaker government on Thursday reduced the prices of petroleum products by about Rs4 to Rs7 per litre, except that of petrol, for the next fortnight starting Dec 1. However, it increased the price of liquefied petroleum gas for the month. In a late-night announcement, the ministry of finance said the government had decided to rev