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Regulator to fine Discos for denying tariff relief

ISLAMABAD: The National Electric Power Regulatory Authority (Nepra) is expected to impose a penalty on distribution companies of ex-Wapda for delaying relief in fuel-based tariff to consumers for two months when it takes up the case of Rs2.40 and Rs2.20 per unit cut in tariff next week. A Nepra official …

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KSE index surges by 1,140 points on SC ruling

KARACHI: The Supreme Court’s verdict in the Panama Papers case breathed new life into the stock market on Thursday as investors’ worst fears — prime minister’s disqualification — didn’t come true. After slight hesitation, Pakistan Stock Exchange’s benchmark 100-share index got off to a storming start on Thursday, extending the …

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Full-day report: Panama Case verdict boosts KSE-100 by 1,140 points

The Pakistan Stock Exchange has ended Thursday’s trading session on a positive note, with the benchmark KSE-100 index gaining 1,140 points, or 2.39 per cent, by the close of the trading session to reach 48,743.56. Following the Panama case verdict, the benchmark KSE-100 index reacted positively by momentarily surging more …

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KSE-100 surges 1,800 points after Panamagate case verdict

The benchmark KSE-100 index has reacted positively to the Panama case verdict, with the index surging more than 1,869 points in the moments following the verdict. Volumes surged as 126 million shares worth Rs12.46 billion were traded. However, the benchmark index could not maintain the full momentum and adjusted to …

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Current account deficit widened 2.6 times in July-March

KARACHI: The current account deficit for the first nine months of 2016-17 rose to $6.13 billion, which is 2.6 times higher than the deficit recorded a year ago. The deficit in July-March is double the negative current account balance recorded in 2015-16, the State Bank of Pakistan (SBP) reported on …

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Stocks notch biggest-ever intraday swing on eve of Panamagate verdict

KARACHI: The mood swings of investors at the Pakistan Stock Exchange (PSX) on Wednesday triggered what turned out to be the highest-ever intraday volatility since the inception of the benchmark KSE 100-share index back in the early nineties. With the announcement of the Panamagate case verdict due today, nervous investors …

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NHA awards Rs9bn contract under CPEC

ISLAMABAD: The National Highway Authority (NHA) on Wednesday awarded a contract of over Rs9 billion for the fifth and last section of the China-Pakistan Economic Corridor’s (CPEC) western route. Under the contract, a road from Rehmani Khel to Kot Belian (package 2A of section five) will be constructed. The approved …

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Index dips as investors await Panamagate verdict

KARACHI: Stocks continued to bleed on Tuesday with the KSE-100 index sinking deeper by 251 points (0.53 per cent) to close at 46,874. Faisal Shaji, Chief Strategy Officer at Standard Capital, admitted that the delay in the announcement of the Panamagate case verdict was taking its toll on the market. …

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Housing finance regulations amended

KARACHI: The State Bank of Pakistan (SBP) amended prudential regulations for housing finance on Tuesday. Housing finance surpassed Rs10 billion in the first half of the current fiscal year, which is indicative of significant growth. The SBP encouraged banks and development finance institutions (DFIs) to provide customers with terms and …

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WHT rates to go further up for non-filers

ISLAMABAD: The government is set to increase the rates of 56 withholding taxes (WHTs) for non-filers of income tax returns in the next fiscal year. An official source privy to the budget-making process told Dawn on Tuesday that the existing WHT rates will be further increased while the scope of …

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