West Texas Intermediate crude futures rose $1, or 1.48%, to $68.67 a barrel by 0146 GMT. Brent crude futures were up 99 cents, or 1.39%, at $72.05 a barrel. Analysts said the bounce was partly a reaction to a potential hurricane in the U.S. Gulf Coast. A weather system in the southwestern Gulf of Mexico […]
As per details, the decision was taken by the federal cabinet in a meeting held here in Islamabad, the sources said and added that the five-year privatization program will be completed in three phases. In the first phase, privatization of Pakistan International Airlines (PIA), House Building Finance Corporation (HBFC), Faisalabad Electric Supply Company, Islamabad Electric […]
FBR spox said the telecom companies had blocked 230,000 Subscriber Identity Modules (SIMs) of non-filers on the body’s recommendation. He said 76,636 SIMs out of 230,000 were unblocked after submission of tax returns. He said the FBR provides data of 5,000 individuals daily to the Pakistan Telecommunication Authority (PTA) for SIM blockage. Replying to a […]
“These two steps would stimulate the industry with positive vibes,” he said. He was talking to the minister during his visit to the regional office of the Federation of Pakistan Chambers and Commerce and Industry (FPCCI). Saquib Fayyaz Magoon, Acting President of FPCCI, Dr Gohar Ejaz, former Caretaker Federal Minister for Commerce, Industries, Investment & […]
The Technology Park in Islamabad is expected to serve as a state-of-the-art facility that fosters collaboration, innovation, and product development. It will act as an interface to bring cohesion among academia, research, industry, and planners within Pakistan and abroad. The park will play a significant role in knowledge and resource management, focusing mainly on commercializing […]
According to the SSGC spokesperson, the PSM in a letter to them informed about the decision of ECC regarding the suspension of gas bill payment The spokesperson further said the SSGC also sought details about the PSM’s capacity to pay the bills in a letter but got no reply. A letter was also penned to […]
The National Assembly (NA) yesterday approved the Federal Budget for the fiscal year 2024-25 with a total outlay of Rs18,870 billion. According to sources, the IMF wants Pakistan to hike the electricity and gas rates from July 1 and immediately implement the NEPRA decision regarding the increase in gas and power tariffs. IMF also demanded […]
Chairing a meeting on ease of business, the prime minister directed the relevant authorities to establish a one-window operation to simplify documentary procedures for companies and traders. He also directed to seek assistance from Chinese experts to establish an experimental facility service center modeled after the Shenzhen One-Stop Shop. Regarding ease of doing business and […]
According to sources, the Ministry of IT has been allocated Rs 27.43 billion in the development budget, with Rs 6.28 billion for 15 new projects. The government has also proposed allocating Rs 21.15 billion for ongoing projects and Rs 3.5 billion for the Digital Economy initiative. Other notable allocations include Rs 1 billion for innovation […]
The committee approved the summary presented by the Ministry of Aviation to allow the utilization of eight million dollars available with the National Bank of Pakistan to pay severance and other operational expenses of the Roosevelt Hotel. Federal Minister for Finance and Revenue Senator Muhammad Aurangzeb presided over a meeting of the Economic Coordination Committee […]
