Business

Foreign banks refuse to accept LCs for oil import by Pakistani firms

Faces challenge of collecting Rs750b in June to meet annual target

Dealers seek 50% reduction in poor man’s fuel

PM’s visit to Ankara expected to further cement bilateral ties

Rupee closed at an all-time low at Rs202.01

Benchmark KSE-100 index adds 38 points to settle at 43,078.14

IMF seeks further adjustment to budget gap; discussions will begin this week

Rise said to be in phases from July 1; move in line with IMF demand, power companies’ request

Wall Street provided a strong lead and snapped a series of weekly losses

PM gives directive to save power producers from default, open revolving fund

The SECP chairman also recommended tax incentives for companies

PM Sharif spoke to the engineers and workers at the project site during the visit

Gets support from expected EU deal to ban Russian oil imports

Pakistan needs to look at China to boost production of the fruit

Production target has been fixed at 11m bales for current season

Gives proposal for increase in advance tax in upcoming budget

Four-decade-old firm suspends operations due to increase in RLNG, other costs

Hits new one-week high at Rs199.06 in inter-bank market

Litigation hampers inflow of foreign investment, E&P activities

Benchmark KSE-100 index adds 178.69 points to settle at 43,040.14

Govt needs to deregulate oil market where refiners, OMCs could compete freely

Every govt has struggled to bridge the gaps but has failed miserably

Many properties cannot be leased as they don’t have completion certificate

Ban on ‘luxury’ goods a populist move that will not significantly cut imports

Conservative analysts believe crude oil price can go beyond $150 next year

Finance minister says govt not mulling acquiring debt from global market, banks

Sources say there’s pressure for immediate privatisation of power plants

Rs700b to be reserved for federal uplift schemes, Rs1.58tr for defence

Bourse makes U-shaped recovery, but still closes week with fall of 239 points

Local coal supply expected to fall 42m tonnes short of demand

The market has now discounted a lot of the negative news

Farmers will get 50% subsidy on fertilisers, seeds and agri-equipment

The direction was given during a meeting which was chaired by the Secretary Planning

One window for selling commodities online can break vicious cycle for growers

Health insurance booms due to tech adoption, contributing to overall industry

Port Qasim will receive large cranes in early June

Finance ministry says country in vicious cycle of high inflation, currency depreciation

Business body stresses need for import substitution plan

Oil imports during the first 10 months of the current fiscal year (July-April) stood at around $17 billion

Mustafa Nawaz Khokhar says decision to go to IMF should be taken by a government with fresh mandate

Planning ministry issues budget ceilings to dozens of divisions for FY23

OPEC and its allies, a group known as OPEC+, has so far rebuffed western calls for a faster increase in oil production

Appreciates after increase in petroleum prices

Preliminary predictions for 2023 project investment of 130.6 billion crowns

Crops giving estimated yield of 700 tons of dried chillies

Asks them to cash in on business-friendly opportunities

Traders complain about lack of modernisation despite providing tech financing

Fear decision will unleash new wave of inflation, push up production cost

European Union countries are negotiating a deal on Russian oil sanctions

It comes ahead of treasury bills auction slated for next week