Power companies’ defaulters: Desperate govt to offer 50% rebate on payment of...
ISLAMABAD: As a last resort, the government has decided to offer a rebate to old defaulters of electricity supplying companies on clearance of previous bills in an effort to ease the strain on finances...
View ArticleBusinessmen take tax holiday incentive with a pinch of salt
KARACHI: When Finance Minister Ishaq Dar came to the fag end of his budget speech, the announcement allowing five-year income tax holiday to businessmen who build new factories in Khyber-Pakhtunkhwa...
View ArticleUSF reviews progress on two rural projects
ISLAMABAD: The Universal Service Fund (USF) on Tuesday held its 39th board of directors’ meeting to review the status of two rural telephone and e-services projects which are expected to benefit 1.226...
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Budget reaction: Minus a few qualms, OICCI largely satisfied
KARACHI: Terming the budget 2015-16 an ambitious plan on paper, the Overseas Investors Chamber of Commerce and Industry (OICCI) stated that the incentives awarded to certain sectors of the economy...
View ArticleLocomotives: Railways spends Rs11b on repair
ISLAMABAD: The Pakistan Railways is managing the rehabilitation and repair of 177 locomotives through the Public Sector Development Programme (PSDP) at a cost of Rs11.289 billion. The repair of...
View ArticleCurrency: Rupee stable against dollar
KARACHI: The rupee remained stable at 101.6/101.8 against the dollar in the inter-bank market on Tuesday compared to Monday’s close of 101.6/101.8. The currency market has remained stable for the past...
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Incoming: Remittances increase 16% over previous year
KARACHI: Overseas Pakistanis sent remittances amounting to $16.6 billion in the first 11 months of 2014-15, which translates into a year-on-year increase of 16%, according to data released by the State...
View ArticlePrecautionary steps: LNG terminal has highest level of safety
ISLAMABAD: Avanceon Limited Chief Executive Officer Bakhtiar H Wain has said that Elengy Terminal Pakistan Limited has maintained the highest level of safety on the terminal set up to handle liquefied...
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Unable to meet targets: Claims remain tall, exports fall short
ISLAMABAD: Contrary to claims and ambitions that the government was looking to increase the country’s exports, the value of Pakistan’s shipments abroad plunged 5%, clocking in at $21.9 billion during...
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Mayday: PIA pilots, management heading for confrontation
KARACHI: Pilots of Pakistan International Airlines (PIA) and the management are heading for another confrontation on issues ranging from a revision in the agreement covering allowances to mandatory...
View ArticleTrain service: Commodities to be exported to Iran
ISLAMABAD: Minister for Railways Khawaja Saad Rafique has said that the launch of the cargo train service between Pakistan and Iran is aimed at promoting trade between the two countries. Pakistan is...
View ArticleEDB: Board looks to promote country’s exports
ISLAMABAD: Amid declining exports, the board of administrators at the Export Development Fund (EDB) on Tuesday unanimously decided to hold sector-specific exhibitions to strategically project...
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Textile: Mills demand gas supply for 7 days a week
KARACHI: Expressing dismay, the All Pakistan Textile Mills Association (Aptma) has opposed Sui Southern Gas Company’s (SSGC) decision to curtail gas supply to the industry for at least two days a week...
View ArticleElectricity supply: Power theft, fair distribution discussed
KARACHI: Minister of State for Water and Power Abid Sher Ali called on Sindh Governor Dr Ishratul Ebad Khan here on Wednesday and briefed him about the efforts being made to overcome the shortage of...
View ArticleIslamic finance: SECP sets up Shariah advisory board
ISLAMABAD: The Securities and Exchange Commission of Pakistan (SECP) has set up the Shariah Advisory Board according to Section 9 of the 1997 Securities and Exchange Commission of Pakistan Act. The...
View ArticleCurrency: Rupee stable against dollar
KARACHI: The rupee remained stable at 101.6/101.8 against the dollar in the inter-bank market on Wednesday compared to Tuesday’s close of 101.6/101.8. The currency market has remained stable for the...
View ArticleRossi, Lorenzo to battle it out in Catalonia
BARCELONA: Valentino Rossi and Jorge Lorenzo aim to hammer home Yamaha’s superiority at the Grand Prix of Catalunya on Sunday with the Italian seeking a seventh top-class win at the circuit. Rossi has...
View ArticleSajjad, Hamza chosen for snooker World Cup
KARACHI: The Pakistan Billiards and Snooker Association (PBSA) has nominated Mohammad Sajjad and Hamza Akbar to participate in the Professional Snooker World Cup to be played from June 15 in Shanghai,...
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Market Watch: Bourse continues its flight in the black
KARACHI: Continuing its positive streak, the stock market sailed smoothly in the black on Thursday with the index closing above 34,500 points after a gap of four months. Spillover effects from the...
View ArticleUnresolved issues: LNG negotiations with Qatar hit a snag
ISLAMABAD: It was almost waiting to happen. Negotiations between Pakistan and Qatar over import of the much-hyped liquefied natural gas (LNG) – that was to be done on a government-to-government basis...
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