Rising with each passing day, the receivables of Pakistan State Oil — the country’s largest firm by revenue — have crossed a record Rs755 billion by Monday or about 21pc of its annual revenue, virtually halting its strategic business expansion. In its latest report of its financials submitted to the federal government, the country’s largest fuel supplier reported that almost 90pc of its funds h
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