Weekly inflation eases by 0.26 percent By: APP on May 27, 2022ISLAMABAD: The Sensitive Price Indicator (SPI) based weekly inflation for the week ended on May 26 for the combined consumption group, witnessed a decrease of 0.26 percent as compared to the previous week. The SPI for the week under review in the above-mentioned group was recorded at 174.62 points against 175.08 points registered in the […]
Rupee gains Rs2.50 in interbank trade after govt’s decision to remove petroleum subsidies By: Web Desk on May 27, 2022On Friday, the US dollar dropped down by Rs3 against the Pakistani currency, sliding down to Rs199 in the interbank market. The drop off in the dollar’s value occurred after the government decided to remove petroleum subsidies in line with the conditions of the International Monetary Fund (IMF). According to the forex dealers, the greenback […]
$4.18b Pak-Africa trade termed ‘below potential’ By: APP on May 27, 2022Former President Islamabad Chamber of Commerce (ICCI) and senior leader of United Business Group (UBG) of FPCCI Zafar Bakhtawri said the current $4.18b annual trade volume between Pakistan and Africa was far below then its potential in the Africa region, which could be doubled in the next three years. Exploring new markets and trade diversification […]
PSX hails long march deferral with 529-point rally By: TLTP on May 27, 2022Pakistan Stock Exchange (PSX) extended gains for the second straight day on Thursday, with the benchmark KSE-100 Index gaining 529.05 points (+1.26 percent) to close at 42,541.71 points. The market opened on a slight positive note but indices switched between the red and green territories for the first hour trading. The investors remained on the […]
Cotton yarn worth $1.006b exported in 10 months By: APP on May 27, 2022Exports of cotton yarn from the country during 10 months of current financial year grew by 22.11pc as compared the exports of the corresponding period of last year. During the period from July-April, 2021-22, about 284,670 metric tons of cotton yarn valuing $1.006b exported as against the exports of 327,519 metric tons worth $832.952m of […]
FBR returns Rs1.9b of Naulong Dam to Wapda By: TLTP on May 27, 2022Federal Board of Revenue (FBR) has released Rs1.916 billion of Naulong Dam to Water and Power Development Authority (Wapda) on the direction of the National Assembly’s Standing Committee on Water Resources. The National Assembly Standing Committee on Water Resources some 11 months ago asked the Federal Board of Revenue (FBR) to pay Rs1,916 million deducted […]
Rupee breaches 202 a dollar barrier in interbank By: Agencies on May 27, 2022The Pakistani rupee continued its losing spree and fell to new all-time low of 202.01 against the US dollar on Thursday amid failure of talks between the government and the International Monetary Fund (IMF) for revival of loan programme. The local currency has been setting all-time new lows for the last 13 sessions. The State […]
Tax info can be obtained from excise dept website By: APP on May 27, 2022A total of 27915 vehicles were checked across the province by the end of the tenth day during the road checking campaign by Sindh Excise, Taxation and Narcotics Department of Sindh to collect taxes from the owners of the tax defaulting vehicles. According to the statement released here on Thursday, as many as 8053 vehicles […]
MEPCO saves over Rs1.34b in line with T&D line losses By: Agencies on May 27, 2022Multan Electric Power Company (MEPCO) have saved over Rs1.34b by 0.4pc reduction in connection with transmission and distribution (T&D) line losses during current fiscal year 2021-22. Director Commercial Asad Hammad said that T&D line losses were 13.6pc in first ten months of fiscal year 2019-20 while it come below to 13.2pc in first ten months […]
Brent nears $115 amid looming Russian oil embargo By: TLTP on May 27, 2022Crude oil prices remained on the front foot on Thursday amid consistent supply concerns amid looming European ban on Russian oil, the world’s second-largest oil exporter. As of 1210 hours GMT, Brent, the international benchmark for two-thirds of the world’s oil, gained $0.69 (+0.61 percent) to reach $114.72 a barrel. The West Texas Intermediate (WTI), […]