Furnace oil shortfall affecting Karachi’s power supply
KARACHI: Rapid rise in temperatures and increased industrial and commercial activities due to the easing lockdown has caused power demand to peak at 3200 MW. While K-Electric is maximizing its…
Agha Shahab rejects more powers for Taxmen in the Budget
KARACHI: President Karachi Chamber of Commerce & Industry (KCCI) Agha Shahab Ahmed Khan has expressed serious concern on reports that the Income Tax officials are seeking more powers to probe…
OGRA serves Show Cause Notice on six OMCs for fuel shortage at retail outlets
KARACHI: Oil and Gas Regulatory Authority (OGRA) has served Show Cause Notices (SCNs) on six oil marketing companies (OMCs) for fuel shortage at their retail outlets. OGRA spokesperson Imran Ghaznavi…
Domestic cement sales decline by 37.63 percent in May 2020
KARACHI: The impact of the construction package announced by the government is yet to be seen as the domestic cement uptake declined by a massive 37.63 percent to 2.27 million…
Oil marketing companies’ sales surge 39 percent in May 2020
KARACHI: Oil Marketing Companies (OMC) sales during the month of May 2020 witnessed an increase of 39 percent with the major contributor being Furnace oil (FO), numbers issued by Oil…
SECP Constitutes Working Group to develop Risk Based Capital Regime for Insurance Sector
ISLAMABAD: The Securities and Exchange Commission of Pakistan (SECP) has constituted a working group of actuaries for the development of Risk Based Capital Regime in Pakistan. The group members possess…
ASO Preventive recovers smuggled blankets worth Rs36 million from Mohib-ur-Rehman’s warehouse
KARACHI: Anti-Smuggling Organization (ASO) of MCC Preventive Karachi raided a warehouse in Shershah area and recovered 8 container loads of smuggled blankets. Information was received through Chief Collector Saifuddin Junejo…
Economies that prioritize payment digitization best placed for GDP growth and citizen well-being, reveals Mastercard report
KARACHI: Countries that prioritize digitized payment economies are better placed to mitigate the associated adverse impact of unemployment, financial exclusion, fraud, theft, cost of cash, and corruption. This was the…
Senate invites legislative proposals to regulate shipping companies
KARACHI: There does not exist a legislation under which the government could compel shipping lines to provide relief to the importers, therefore Deputy Chairman Senate Saleem Mandviwala has invited proposal…
Zong 4G and SIUT join hands to relay authentic healthcare messages to the public
Karachi: To respond and create awareness around COVID-19, Zong 4G, Pakistan’s leading telecommunication network has partnered with Sindh Institute of Urology and Transplantation (SIUT), which is at the forefront in…
Nationwide petroleum crisis, dealers demand transparent inquiry Delayed petro imports shaped crisis, Govt lost billions in revenue Masses deprived of the benefit of reduced petroleum prices New pricing formula needed in the changed scenario: Ghiyas Paracha
The All Pakistan Petroleum Retailers Association has demanded a detailed probe into nationwide fuel shortage and asked the authorities to fix the responsibility. All the oil companies except PSO delayed…
Restoration of zero-rating of Sales tax to exporters demanded by PAKSEA
The value added textile export sector has reached to the verge of disaster due to severest ever liquidity crisis in the history of Pakistan caused due to imposition of 17%…
ICRC provides support to people with disabilities during COVID-19
Islamabad (ICRC): Access to protective gear, hygiene material and authentic information is crucial for everyone during a pandemic, even more so, for people with disabilities (PWDs). International Committee of the…
CCP SEEKS PUBLIC COMMENTS ON DRAFT STUDY ON LPG SECTOR IN PAKISTAN
ISLAMABAD: The Competition Commission of Pakistan (CCP) has prepared a draft competition assessment study of the LPG Sector in Pakistan with solid recommendations for the government to introduce policy reforms,…
PSO has ample fuel reserves to meet nation’s needs
KARACHI: Pakistan State Oil has repudiated the news circulating in some sections of the media fomenting speculations about shortage of fuel in the country. PSO has clarified that there is…
COVID-19 BRINGS A WINDFALL TO SHIPPING LINES/ AGENTS: KCCI
KARACHI: The Karachi Chamber of Commerce & Industry (KCCI) has expressed its dismay and concern at the helplessness of the importers and exporters who are being exploited by shipping lines…
Rate of profit of national saving schemes reduced
KARACHI: Government has cut profit rates on National savings certificates in the range of 48 to 90 basis points. Rate of profit on special savings cut by 90bps to 7.10%.…
Geological survey plans to acquire diamond core drilling rigs
KARACHI: Geological Survey of Pakistan (GSP), an attached department of Petroleum Division, has planned to purchase latest drilling rigs to help increase mineral identification and exploration activities in the potential…
CPI inflation restricted to 8.2 percent in May 2020
KARACHI: National Consumer Price Index (NCPI) for the month of May’20 stood at (8.22%YoY) as compared to (8.5%YoY) in the previous month and (8.33%YoY) in the same period last year.…
Last date for KCCI’s membership renewal extended up to June 15
KARACHI: Referring to a notification issued by Directorate General of Trade Organizations (DGTO), the spokesman of Karachi Chamber of Commerce & Industry (KCCI) has informed that the last date for…