ISLAMABAD, Nov 04 (ABC): The 100-index of the Pakistan Stock Exchange (PSX) witnessed bearish trend on Friday, losing 234.40 points, a negative change of 0.56 percent, closing at 41,856.31 against 42,090.71points on the last working day. A total of 298,094,545 shares were traded during the day as compared to 325,716,698 shares the previous day, whereas the price of shares stood …

Nov 4(ABC): Sindh govt approves Rs46 billion to rebuild roads in flood-hit provinceThe Sindh government on Friday approved a Rs46 billion to rebuild the streets and roads in flood-hit areas of the province. This was decided during a high-level provincial meeting on Friday chaired by Sindh Chief Minister Syed Murad Ali Shah at the Chief Minister House. Under the package, …

ISLAMABAD, Nov 4(ABC): The government has given the approval of imposing the petroleum development levy (PDL) of Rs50 on high-octane petrol on Friday. Sources privy to the matter said that the PDL levy on high-octane was Rs30, but as per the International Monetary Fund’s (IMF) conditions, the approval of increasing the PDL on high-octane petrol has been given. The sources …

ISLAMABAD, Nov 2 (ABC): The 100-index of the Pakistan Stock Exchange (PSX) continued with bullish trend on Wednesday, gaining 135.90 points, a positive change of 0.33 percent, closing at 41,944.59 against 41,808.69 points on the last working day. A total of 230,561,335 shares were traded during the day as compared to 192,142,149 shares the previous day, whereas the price of …

ISLAMABAD, Nov 2 (ABC): The price of 24 karat per tola gold witnessed an increase of Rs 450 on Wednesday and was sold at Rs 151,550 against its sale at Rs 151,100 the previous day. The price of 10 gram 24 karat also increased by Rs 386 and was sold at Rs 129,930 against Rs 129,544; whereas that of 10 …

ISLAMABAD, Nov 2 (ABC): Pakistan earned US $179.940 million by providing different transport services in various countries during the first two months of current fiscal year (2022-23) as compared to the corresponding period of last year. This shows growth of 104.55 percent as compared to $87.970 million earned through provision of services during the corresponding period of fiscal year (2021-22), …

ISLAMABAD, Nov 2 (ABC): Pakistani Rupee on Wednesday depreciated by 79 paisa against the US dollar in the interbank trading to close at Rs 221.43 against the previous day’s closing of Rs 220.64. According to the Forex Association of Pakistan (FAP), the buying and selling rates of US dollar in the open market were recorded at Rs 225 and Rs …

ISLAMABAD, Nov 2 (ABC): President Dr Arif Alvi on Wednesday called upon the oversees Pakistanis to contribute more to the progress and prosperity of the country by sharing their knowledge, experience, intellect and expertise in the relevant fields which was now possible through online platforms without requiring any physically presence. The president, addressing a ceremony held to recognize the invaluable …

ISLAMABAD, Nov 2 (ABC): Pakistan Railways has retrieved as many as 955 acres of its land worth Rs19, 603 million during various anti-encroachment operations across the country in the last five years. “Around 476 acres retrieved in Punjab, 133 acres in Khyber Pakhtunkhwa, 327 acres in Sindh and only 19 acres in Balochistan acres land had been retrieved by the …

KARACHI, Nov 02 (ABC): The Federal Government has given another opportunity to the public to get the withdrawn prize bonds of Rs7500, 15,000, Rs 25,000 and Rs 40,000 encashed by June 30, 2023. Earlier, the government had fixed deadline of June 30, 2022, for redemption/encashment of these prize bonds. However, considering that some of the prize bond holders could not …

KARACHI, Nov 1(ABC): Pakistani currency recorded gains on the second working day of the week, as it made fresh recovery against the US dollar in the inter-bank market on Tuesday. According to details, the local currency appreciated by 24 paisa against the greenback which closed at Rs220.65. The rupee had closed at Rs220.89 on Monday, according to Pakistan’s central bank …

ISLAMABAD, Nov 1(ABC): The price of 24 karat per tola gold witnessed an increase of Rs 1,100 on Tuesday and was sold at Rs 151,100 against its sale at Rs 150,000 the previous day. The price of 10 gram 24 karat also increased by Rs 944 and was sold at Rs 129,544 against Rs 128,600; whereas that of 10 gram …

MUMBAI, Nov 1(ABC): India said it will allow cargoes of white and brown rice backed by letters of credit issued before September 9 to be shipped overseas, a measure that provides some relief to exporters grappling with fresh government curbs. The world’s biggest exporter of rice on September 8 banned exports of broken rice and imposed a 20% duty on …

ISLAMABAD, Nov 1(ABC): Accelerating faster than anticipated, Consumer Price Index (CPI)-based inflation for October 2022 surged to 26.6% year-on-year,  latest data showed, chiefly fueled by high-priced food and a hawkish monetary outlook. According to the Pakistan Bureau of Statistics (PBS), consumer prices rose 4.7% compared to a fall of 1.2% in September 2022 month-on-month. The inflation is not far from a 47-year …

ISLAMABAD, Nov 1(ABC): The Oil & Gas Regulatory Authority (OGRA) has jacked up the prices of liquefied petroleum gas (LPG) for November by Rs2.96/kg to Rs204.16/kg, an official notification showed on Tuesday. This increase has made the domestic LPG cylinder (11.8kg) expensive by Rs34.91, while the commercial one (45.4kg) will see a jump of Rs134 in price. Last month, the …

LAHORE, Nov 1(ABC): The gas shortfall is likely to reach its highest level this year, sources within the Sui Northern Gas Pipelines Limited (SNGPL) revealed Tuesday. Sources privy to the matter said that currently, the gas supply is 17 million cubics while the demand is over 25 million cubics which might increase next month. “The domestic consumers will receive the gas supply …

ISLAMABAD, Nov 1(ABC): The Pakistan government on Monday approved the plan to buy 300,000 tonnes of wheat from Russia at a cost of $372 per tonne, reported. The Economic Coordination Committee, headed by Finance Minister Ishaq Dar, approved the import of wheat on the government-to-government deal. The committee also approved jacking up revised margins of oil marketing companies (OMC) from Rs3.68 on MS petrol …

ISLAMABAD, Oct 31(ABC): Federal Minister for Finance and Revenue Ishaq Dar Monday announced to extend the date of filing tax returns by a month. Citizens can now file their tax returns by November 30. The minister said that the government decided on extending the date following requests received by the business community. This is the second extension issued by the …

ISLAMABAD, Oct 31 (ABC): Pakistani Rupee on Monday appreciated by Rs 1.58 against the US dollar in the interbank trading to close at Rs 220.88 against the previous day’s closing of Rs 222.46. According to the Forex Association of Pakistan (FAP), the buying and selling rates of US dollar in the open market were recorded at Rs 225.5 and Rs …

ISLAMABAD, Oct 31 (ABC): Minister for Planning, Development and Special Initiatives Ahsan Iqbal Monday said Prime Minister Shehbaz Sharif’s visit to China would take the bilateral trade relations to new heights as both the countries would sign multiple projects worth billions of dollars. The PM’s visit to China will help preparing a road map to take the county’s annual exports …

ISLAMABAD, Oct 31 (ABC): The price of 24 karat per tola gold witnessed a decrease of Rs 1,800 on Monday and was sold at Rs 150,000 against its sale at Rs 151,800 the previous day. The price of 10 gram 24 karat also decreased by Rs 1,544 and was sold at Rs 128,600 against Rs 130,144; whereas that of ten …

ISLAMABAD, Oct 31 (ABC): The 100-index of the Pakistan Stock Exchange (PSX) witnessed bullish trend on Monday, gaining 124.32 points, a positive change of 0.30 percent, closing at 41,264.66 against 41,140.34 points on the last working day. A total of 97,476,761 shares were traded during the day as compared to 177,761,063 shares the previous day, whereas the price of shares …

ISLAMABAD, Oct 31 (ABC): President Dr Arif Alvi on Monday underlined the need to bring a substantial increase to the quantum of bilateral trade between Pakistan and Ireland to realize the full potential of bilateral trade. Talking to Pakistan’s Ambassador-designate to Ireland Aisha Farooqui here at the Aiwan-e-Sadr, the president said that there were immense opportunities for the information technology-skilled …

FAISALABAD, Oct 31 (ABC): Federal Minister for Power Engineer Khurram Dastgir Khan has said that all development projects, put in cold store during the last 4 years, are being revived. Addressing the inaugural ceremony of 220-KV Lalian grid station, completed with Rs 4 billion, he said on Monday when Pakistan Muslim League-Nawaz (PML-N) came to power in 2013, the country …

MULTAN, Oct 31(ABC): General Manager Sui Northern Gas Pipelines Limited (SNGPL) Shahzad Iqbal said that the gas connections of commercial consumers were being cancelled and cylinders will be provided to them at their doorsteps to ensure gas supply to domestic customers in the winter season. GM SNGPL expressed these views while addressing the executive body of Multan Chamber of Commerce …

ISLAMABAD, Oct 31(ABC): The four-day SAHA Defence and Aerospace Exhibition 2022 concluded in Turkiye that hosted a plethora of global participants, including Pakistan and extended a wide range of modern defence, aviation, aerospace and cutting edge technology based products. The Global Defense Insight, the official media partner of SAHA Expo from Pakistan and a leading defence news portal on its …

LAHORE, Oct 31(ABC): Punjab Chief Minister Chaudhry Parvez Elahi Sunday laid the foundation stone of the Central Business District (CPD Punjab Boulevard) project for its remodelling from Kalma Chowk to Liberty and completion of the project would provide ease to citizens in transportation and would save time.Addressing the ceremony held in this regard and later talking to the media here, …

ISLAMABAD, Oct 31(ABC): The International Monetary Fund (IMF) while asking Pakistan to raise taxes, electricity tariff, and cut expenditures has also reiterated that Islamabad should set up an anti-corruption task force. The global money lender has handed over a new list of demands and asked Pakistan to impose roughly Rs600 billion in additional taxes. The details emerged during talk show, …

ISLAMABAD, Oct 31(ABC): The trade balance of Pakistan is expected to improve in the coming months on account of import contraction due to a deceleration in domestic economic activities and aggregate demand, the monthly Economic Update and Outlook October 2022 released by the Ministry of Finance said on Sunday. “Overall economic outlook shows an optimistic picture of the economic performance …

ISLAMABAD, Oct 31(ABC): The authorities concerned have collected an amount of Rs 10,533.67 million as toll revenue from the taxes of highways and motorways from April 11 to July 2022, an official has told APP. He said an amount of Rs 1,949.42 million was earned from toll taxes on highways and motorways from April 11 to 30, after the coalition …

ISLAMABAD, Oct 31(ABC): The Ministry of Finance Sunday released its monthly economic report highlighting the need for a strong economy to stabilise the currency. According to the report, climate-induced flooding across Pakistan has destroyed agriculture resulting in a decrease in the production of major crops. Sugarcane production has been reduced by 8%, rice by 40.6%, and cotton by 24.6%, while …

ISLAMABAD, Oct 30 (ABC): The bilateral trade between Italy and Pakistan can swell to €4 billion annually by fully exploiting the existing potential of the private sector to a maximum extent. Talking to the honorary investment consular to Milano, Italy Muhammad Sheheryar Khan, Chief Executive Officer Pakistan Furniture Council Mian Kashif Ashfaq said on Sunday that Ambassador of Italy to …

BEIJING, Oct 28(ABC): Pakistan’s export to China crossed US$2.57 billion in the first nine months of this year, up 2 percent year on year, shows the official data from the General Administration of Customs of the People’s Republic of China (GACC). Ghulam Qadir, Commercial Counsellor at Pakistan Embassy in China, told China Economic Net (CEN) that Pakistan’s exports to China …

ISLAMABAD, Oct 28(ABC): The Ambassador of the People’s Republic of China to Pakistan Nong Rong called on Federal Minister for Finance and Revenue Senator Mohammad Ishaq Dar on Friday. Finance Minister Ishaq Dar welcomed the Chinese ambassador and highlighted about the friendly and multi-dimensional historic bilateral ties between Pakistan and China, said a press release. The finance minister shared huge …

Oct 28(ABC): Pakistan is likely to receive another loan worth $500 million from the Asian Development Bank (ADB) in December as the lender is looking at more climate impact projects, Bloomberg reported. The Manilla-based lender aims to improve a coastal drainage system in Pakistan to help prevent another catastrophic flooding. Nearly 1,700 people have been killed in the floods caused by …

ISLAMABAD, Oct 28 (ABC): The Senate Standing Committee on Climate Change was briefed on Friday that the country witnessed a 300 percent increase in glacial lake outburst flood (GLOF) incidents and rising sea levels threatening the existence of cities such as Thatta, Badin and Karachi in just one year. The meeting of the Senate Standing Committee was held under the …

KARACHI, Oct 28 (ABC): Director General, Pakistan Standards and Quality Control Authority, Zain-ul-Abideen, during his visit to the Federation of Pakistan Chamber of Commerce and Industry (FPCCI) here on Friday, informed the business community of the global obligations of World Trade Organization (WTO) related to technical barriers to trade and agreed that both the bodies needed to develop inter active …

ISLAMABAD, Oct 28 (ABC): The Sensitive Price Indicator (SPI) based weekly inflation for the week ended on October 27 for the combined consumption group witnessed an increase of 4.13 percent as compared to the previous week. The SPI for the week under review in the above-mentioned group was recorded at 213.74 points against 205.27 points registered in the previous week, …

ISLAMABAD, Oct 28 (ABC): The price of 24 karat per tola gold witnessed an increase of Rs1,400 on Friday and was sold at Rs 152,400 against its sale at Rs 151,000 the previous day. The price of 10 gram 24 karat also increased by Rs 1,200 and was sold at Rs 130,658 against Rs 129,458; whereas that of ten gram …

ISLAMABAD, Oct 28 (ABC): The 100-index of the Pakistan Stock Exchange (PSX) witnessed bearish trend on Friday, losing 462.52 points, a negative change of 1.11 percent, closing at 41,140.34 against 41,602.86 points on the last working day. A total of 177,761,063 shares were traded during the day as compared to 203,560,788 shares the previous day, whereas the price of shares …