Friday , 18 August 2017

IP pipeline: Ministry seeks to hold fresh price talks with Iran

ISLAMABAD: The Ministry of Petroleum and Natural Resources is seeking the green light from the Economic Coordination Committee (ECC) for resuming stalled negotiations with Iran on laying a gas pipeline between the two countries. The ministry will look for a further reduction in the gas import price and extension in …

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Tax revenue: ABAD members pay fixed tax amounting to Rs7m

KARACHI: Inland Revenue Chief Commissioner Dr Tariq Masood, while praising the voluntary tax payment by members of the Association of Builders and Developers of Pakistan (ABAD), said that he will recommend an up to 20% discount for these taxpaying developers to the Federal Board of Revenue (FBR). He was talking …

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Cabinet declines to take tourism from provinces

ISLAMABAD: The Cabinet Committee on Restructuring (CCOR) on Friday decided against taking back the tourism department from provinces while also turning down a request of the Ministry of Food to hand over the Pakistan Central Cotton Committee to it. The decisions again reinforce the 18th Amendment in the Constitution, which …

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Remittances may fall further after change in US

ISLAMABAD: A lobbying group of small traders has voiced concerns over slowdown in the flow of remittances, terming it damaging for the national economy. “The government should find new markets for labour and take necessary steps to boost remittances, which are necessary to offset the impact of import bill,” said …

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Market watch: Index ends higher yet again as bullish run remains

KARACHI: Pakistan equities maintained their northbound ride, adding another 0.34% to the benchmark-100 index that shied away from the 43,000-point level. After a rather slow start, institutional names grabbed attention as the KSE-100 Index settled at a fresh record high. At close on Friday, the Pakistan Stock Exchange’s benchmark KSE …

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Car sales dip 15%, stand at 63,633 units for July-October

KARACHI: Local automobile sales (passenger cars and light commercial vehicles) for the month of October 2016 stood at 15,988 units, down 19% compared to 19,729 units in October 2015, according to the latest data release by the Pakistan Automotive Manufacturers Association (PAMA). Similarly, combined figures for the first four months …

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Power outages expected to persist: NEPRA report

KARACHI: Pakistanis and the country’s economy will continue to suffer from longer power outages, as it has failed to connect most of the new power generation houses with end-users. Meanwhile, further delays in completion of transmission lining projects have not been ruled out either. The National Electric Power Regulatory Authority …

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Man arrested for creating fake Facebook account

ISLAMABAD: The Federal Investigation Agency (FIA) has arrested a man who allegedly posted revealing pictures of a woman on Facebook and tried to blackmail her. FIA officials said Sheikh Tauqeer Ahmed had allegedly created a fake Facebook account of a woman* and uploaded her compromising pictures. The suspect then blackmailed …

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Residents flock to try out capital’s latest attraction

ISLAMABAD: The first-ever cycling lanes in the capital were formally inaugurated on Saturday morning. The move was met with glee by dozens of cyclists young and old, men and women who showed up at Foreign Office roundabout on Saturday morning mounted on their cycles and wearing safety gear. Some even …

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From the Vatican: Bishop Arshad new apostolic admin for twin cities

RAWALPINDI: The Vatican Saturday named Bishop Joseph Arshad as the new Apostolic Administrator for the Diocese of Islamabad and Rawalpindi. Bishop Arshad will be replacing Bishop Rufin Anthony who passed away last month. “Pope Francis appointed Bishop Joseph Arshad, the present Bishop of Faisalabad, as also the Apostolic Administrator of …

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