Business

Delay in release of tax refunds sparks challenges for manufacturers

Suspects two major companies were involved in price collusion

Finance ministry says depreciation, not borrowing, added 20% to public debt

Financing risk of banks will be secured through mortgage of project land based on specific arrangements with builders

President Alvi urges businessmen to prepare to capitalise on emerging opportunities

Petroleum Division says refineries invested Rs200b in projects

Benchmark index sheds 510.40 points to settle at 46,903.06

SDR allocation from IMF lifts reserves to historic level

PM aide presses exporters to step up efforts to achieve target

New passenger car fleet to be carbon dioxide-neutral

Many market players remained cautiously positive

Demand for foreign currency remains high in country

Stresses cooperation between federal, provincial governments

Requests assistance of attorney general office to vacate multiple intra-court appeals of oil firms

Group will release 400,000 bpd to market in Oct after doing so in Sept

Pace of increase in prices of non-food items slows but food inflation remains high

May allow increase of Rs1.37 per unit on account of fuel cost adjustment

President says steps being taken to improve business environment

Ministries complain firm not using national entities for transport of POL products

Benchmark index edges down 6.28 points to settle at 47,413.46

Relies heavily on foreign inflows to build foreign exchange reserves, pay debt

Collection at import stage contributes 55% of total revenues

China’s largest e-commerce platforms include Alibaba’s Taobao and Tmall marketplaces, JD.com and Pinduoduo

It has depreciated 9.2% since hitting recent high of 152.28 on May 14, 2021

Zoom will need to find new avenues for growth

Both benchmarks were on track for their first monthly loss

OGDC, Mari, PPL, GHPL awarded offshore E&P block

Book building oversubscribed by 1.64 times

Allows utilisation of $10m of hotel pensioners to clear liabilities

Turnaround came due to cut in interest rate, economic recovery

Asian markets reversed losses as hopes for more China stimulus grew

Builders demand strict govt action to control rising prices

Benchmark index crawls up 54.04 points to settle at 47,419.74

Prices remained under pressure from concerns over power outages and flooding in US state

Government adds Rs15tr to debt in three years, according to central bank data

Also decide to search for new avenues of trade

Forms committee to look into non-procurement of sugar, scrapping of tenders

Proposes the monitoring of production units of cigarette firms with track and trace system

Both sides have longstanding disagreement on grain import quotas

Employers’ body says govt officials overlooked continuous violation of labour laws

Minister says it will improve energy mix by enhancing share of clean energy

Ratings agency sees country’s economy progressing, implementation of economic reforms

OIC has collective population of over 1.5 billion people and a GDP of over $4.5 trillion

Closes at Rs165.96 in the inter-bank market

Summary for reduction in petroleum products’ prices sent to energy ministry, say sources

Benchmark KSE-100 index climbs 0.49% to settle at 47,365.70

Brent has rallied 40% this year, supported by OPEC+ supply cuts, partial demand recovery

Technology adoption will help country to innovate, improve export capacity

Pakistan needs $4-6b in FDI per year to see miraculous impact on growth

ECC’s role in granting permissions for import, export of sugar should be discontinued