BIGtheme.net http://bigtheme.net/ecommerce/opencart OpenCart Templates

Business News

Sell-off: Privatisation Commission approves sale of remaining 41.5% shares in HBL

ISLAMABAD: The Privatisation Commission (PC) board has approved a transaction structure under which it will sell 609.3 million shares of Habib Bank Limited (HBL) in return for Rs129 billion. The government is also considering selling more than 5% shares of the paid-up capital in the largest bank to a single buyer. The board on Wednesday decided to sell the remaining 41.5% ...

Read More »

Electricity fuel: Govt opts to replace coal-run power plants with LNG

ISLAMABAD:  Addressing the acute energy crisis, the federal government has suggested abandoning the plan of developing two coal-based power plants in exchange for liquefied natural gas (LNG) power plants, which will be established in Punjab. The proposal recommends fixing the upfront tariff for 3,600-megawatt LNG-based plants at Rs8.85 per kilowatt hour (kWh). Giving a detailed briefing, a senior official of ...

Read More »

Tax evaders: Information must be shared with all chambers, says KCCI

KARACHI: Karachi Chamber of Commerce and Industry (KCCI) President Iftikhar Ahmed Vohra, while commenting on the notices issued by the Federal Board of Revenue (FBR) to 240,000 tax evaders, has urged the FBR to ensure strict follow-up of these notices as the tax dodgers are responsible for causing severe losses to the national exchequer. He demanded that the information about the ...

Read More »

Removing misconceptions: Emissions from mobile towers not harmful, says PTA

KARACHI: The emission level of radio waves from mobile towers is well below danger limits and does not have any harmful effects on human health, according to a joint survey conducted by the Pakistan Telecommunication Authority (PTA) and Frequency Allocation Board (FAB), a statement released by the PTA said on Tuesday. The telecom regulator and FAB recently undertook an extensive survey ...

Read More »

Pakistan Steel Mills requests for additional Rs13 billion

KARACHI: The nationwide blackout about a week ago that plunged most of the country into darkness had also badly affected the production levels of Pakistan Steel Mills (PSM). However, one of the two blast furnaces of the PSM resumed production three days ago while the other will start working in the next few days, said PSM officials. This has happened at ...

Read More »

Market watch: Interest in oil shares takes bourse to another high

KARACHI: The trading in equities opened positive on Tuesday and continued to push the market to fresh highs with the benchmark index closing above 34,800 points. The Karachi Stock Exchange’s (KSE) benchmark 100-share index closed the day’s trading with an increase of 0.43% or 150.20 points at 34,826.51. Elixir Securities analyst Haris Ahmad Batla said that the recovery in international crude ...

Read More »

Pakistan to send draft trade accord to Turkmenistan soon

ISLAMABAD: Pakistan has proposed to Turkmenistan to sign a transit trade agreement in a bid to establish strong trade linkages with Central Asian countries, which may be extended further to Russia. The Ministry of Commerce will forward the draft of the proposed transit trade agreement to Turkmenistan officials in the next few days for further deliberations. This was discussed in a ...

Read More »

Counterfeit notes: SBP to bring new security features in currency notes

LAHORE:  State Bank of Pakistan (SBP) Acting Governor Saeed Ahmad has said that anti-state elements are involved in spreading counterfeit currency in the country to undermine the national economy. Speaking at a conference on “Currency management: strategies for the future” organised by the SBP here on Tuesday, Ahmad said the central bank is very vigilant on the matter and the ...

Read More »

Engro’s chemical subsidiary announces loss of Rs1.1b

KARACHI:  Engro Polymer and Chemicals – the only producer of Poly-Vinyl-Chloride (PVC) in the country – on Tuesday announced a loss of Rs1.1 billion for the year ended December 2014 compared to a profit of Rs707 million in calendar year 2013. Loss per share (LPS) was Rs1.67 compared to earnings per share (EPS) of Rs1.07 in the previous year. The ...

Read More »

NBP operations in Bangladesh: NA panel invites NAB to probe Rs18.5 billion loss

ISLAMABAD:  As a forensic audit report holds 61 officials responsible for the loss of Rs18.5 billion in Bangladesh operations of National Bank of Pakistan, a parliamentary panel has referred the scam to the National Accountability Bureau to catch the culprits and recover the money. The decision to involve the country’s top-most accountability body was taken by the National Assembly Standing ...

Read More »