Saturday , 29 April 2017

Home / Business News (page 30)

Business News

Read Latest breaking Business News & updates about latest Business events & issues. Watch Business Videos News Headlines, Special Reports & Packages. Business News

Pakistan Steel Mills financial woes continue

KARACHI: As the financial health of Pakistan Steel Mills (PSM) continues to deteriorate, the grievances of its serving and retired employees have increased manifold — with no respite in sight any time soon. Talking to Dawn a PSM official said the accumulated losses of the mill swelled to Rs166 billion …

Read More »

KP gas projects to be financed through Rs5.5bn surcharge

LAHORE: The federal government has decided to generate incremental gas development surcharge (GDS) for the government of Khyber Pakhtunkhwa to finance Karak, Kohat and Hangu gas infrastructure development projects worth more than Rs7.5 billion in aggregate. For the time being, the KP government will arrange the money from its own …

Read More »

Higher deficit, low revenue challenge economic growth: SBP

KARACHI: Higher fiscal deficit, sharp decline in non-tax revenue and tax revenue much below expectations are serious challenges for the government willing to spur economic growth, the State Bank of Pakistan (SBP) said in its first-quarterly report for 2016-17 issued on Friday. In terms of gross domestic product (GDP), the …

Read More »

Gwadar’s quake island disappears

GWADAR: A small island said to have been created in the Arabian Sea by a huge earthquake that hit parts of Balochistan in 2013 has disappeared after remaining visible for three years. Off the coastline near the port of Gwadar, locals were astonished to see a new piece of land …

Read More »

Central bank sees stable growth during FY17

KARACHI: The State Bank of Pakistan (SBP) has said that preliminary macroeconomic data for the first quarter of 2016-17 signals a stable growth momentum during the year. According to the first quarterly report on the state of Pakistan’s economy released by the SBP on Friday, a strong growth in sugarcane …

Read More »

Managing money: Senate panel to probe high spending on power plants

ISLAMABAD: Expressing concern over high spending on setting up three power plants Nandipur power project, Neelum Jhelum hydroelectric power project and Sahiwal power plant, a parliamentary panel has decided to investigate the extra expenditures. The Senate Standing Committee on Water and Power, chaired by Senator Taj Haider, formed a three …

Read More »

Market watch: Bourse ends year at fresh record high

KARACHI: It was the last trading session of the year and the index closed with a bang, reaching a fresh all-time high and securing a comfortable spot above 47,500 points. Led mainly by index-heavy stocks, the bourse settled with an increase of 140.31 points. At close on Friday, the Pakistan …

Read More »

Suggestion: Accountancy firm proposes up to 20% tax on offshore assets

ISLAMABAD: A chartered accountancy firm has proposed that the government should charge up to 20% tax rate to whiten offshore assets that may be declared under an upcoming tax amnesty scheme but are not repatriated to Pakistan. The proposed rates for whitening offshore assets are significantly higher than the under …

Read More »

CNG prices go up to Rs70-71 per kg after deregulation

KARACHI: The deregulation of compressed natural gas (CNG) price proved highly shocking for vehicle owners ahead of the New Year as station owners in Sindh have increased the gas price to Rs70-71 per kg from Rs67.50. All Pakistan CNG Association Sindh chairman Shabbir Sulemanji said: “We have not notified the …

Read More »

Pakistan’s water security made part of CPEC framework

ISLAMABAD: Pakistan and China on Thursday decided to make water security a part of the China-Pakistan Economic Corridor (CPEC) framework amid threats by India to review its position on the 1960 Indus Waters Treaty. The decision to exploit full hydel potential of Pakistan was taken during the sixth meeting of …

Read More »
Show Buttons
Hide Buttons