Business

Persistent delay in resumption of IMF programme takes toll on local currency

OPEC said it expects oil demand to average 99.49 million barrels per day

Govt announced to curb custom duty to 9% in budget 2021-22 but rate stagnant at 11%

Calls for enhancing bilateral relations with Russia

Companies attribute price hike to increasing input costs, rupee depreciation

Says penalty on major violations ranges from Rs10m to Rs500m

SBP governor says it can make financial sector productive, efficient

Say central bank did not use all tools while framing monetary policy

Net reserves held by banks amounted to $6,699.5 million

Laments that existing level of cooperation is below its actual potential

Asks government to add impact of rupee depreciation to cost of fuel

Benchmark index drops 281.7 points to settle at 46,348.18

Central bank says increase came on back of official inflows

Law minister, IMF mission chief hold second round of talks for $6b EFF revival

Local currency drops to two-week low at Rs172.93 against US dollar

President says IT sector of country needs a paradigm shift

SBP governor stresses that segment needs to focus on innovative service delivery

ITFC facility will be used for import of oil and gas

Expert says Himalayan salt lamp is a sought-after product in Beijing

PLL books cargoes at average of $24 per unit on a spot basis

Minister says projects will transfer cash from urban to rural areas, create jobs

Has adopted innovative financing strategy for megaprojects

Food minister insists fertiliser price increase due to hike in global market

Bakhtiar says govt making all-out efforts for growth, development of small businesses

Vitol CEO says oil demand had returned to pre-pandemic levels

SAPM seeks Beijing’s support for completing energy, infrastructure schemes

Budget reduction of Rs200b likely if deal is struck with IMF

minister acknowledged that the terminal was contributing productively to the national growth

Traders also seek power tariff rationalisation

Both have more than doubled since June and added nearly 70% against the dollar since the start of October.

Brent and WTI on track for their highest closes

Says $700m facility is available to Pakistan for Covid-19 vaccines

Owing to effective measures taken by the government, the growth in circular debt had been curtailed to a large extent

Say export of commodity facing difficulties despite surplus production

Loses 1.12 against dollar in inter-bank market

The commerce ministry said that positions of CEOs/MDs were vacant under different divisions

Official says industry providing urea at 83% lower price compared to global market

Benchmark KSE-100 index plunges 715.13 points to settle at 46,399.91

Brent has risen over 60% this year and hit $86.70, a three-year high, on October 25

Envoy laments lack of progress on joint chamber of commerce

Delay in approval of IMF tranche fuels fall in inter-bank market

Underlines need to look for alternative options in case IMF terminates $6b programme

Recommendation for Muhammad Ashraf will land in federal cabinet for nod

He added that upon completion, the system would be inaugurated by Prime Minister Imran Khan

Pakistani currency closed at an all-time low of Rs175.27

Gives concept clearance to $627m social protection project

Steel mill board recommended extension in CEO’s contract by one year

Experts believe Islamabad can learn from Jakarta for producing unicorn startups

Tarin says only two taxes will exist in future, other levies will be abolished

Tobacco industry official says effective enforcement of system needed to bring results