Policy rates remain at 7 percent: State Bank

Karachi: Monetary Policy Statement issued by State bank of Pakistan. 1. At its meeting on 22nd January 2021, the Monetary Policy Committee (MPC) decided to maintain the policy rate at 7 percent. The MPC noted that since the last meeting in November, the domestic recovery has gained some further traction. Most economic activity data and …

K-Electric to meet the growing demand for electricity

Karachi: Chief Executive Officer – K-Electric Mr Moonis Alvi, informed that K-Electric’s BQPS-III, 900 MW power plant is under rapid development work. BQPS-III, Gas Turbine and Steam Generator for First Unit of 900 MW Power Plant Arrive at Bin Qasim Power Complex. The Oil & Gas Regulatory Authority (OGRA) has already given approval to Electric to lay …

Haleeb joins hands with with Careem

Karachi: Haleeb Foods (HFL) the pioneer dairy and beverage company of Pakistan has joined hands with Careem, the Super traveling App in Pakistan. Through this partnership, HFL employees will be facilitated with safe and convenient day to day traveling. A signing ceremony was held to mark the occasion at HFL, Head Office in Lahore. Faisal …

Gold prices continue to decline

Karachi: Today, the price of 24 karat gold has been further reduced by Rs. 500, bringing the price of gold per tola to Rs. 112,400. The price of gold per tola has declined by Rs. 500 while 10 grams of gold has decreased by Rs. 429. Consequently, one tola of gold is worth Rs. 112,400 …

FBR’s priority is to cut costs for businesses in the next budget, says Dr. Ashfaq

KARACHI: Member Inland Revenue – Operations, Federal Board of Revenue (FBR) Dr. Muhammad Ashfaq Ahmad has said that for the next budget, FBR’s priority is to cut the cost of doing business, get rid of excessive taxation, reduce compliance cost and set businesses free so that they could have minimum interaction with tax authorities and …

Petroleum products likely to rise by Rs 5 to 7 per liter

Karachi: The Khan-led government, today, is likely to increase the rate of petroleum commodities by Rs 5 to 7 per liter. A report of The Oil & Gas Regulatory Authority (OGRA) has been sent to Prime Minister Imran Khan as he is the ultimate authority to make the decision. Prices of petroleum products are likely …

Gong Ceremony on Listing of Preference Shares of Engro Polymer & Chemicals Limited

Karachi: In an exciting development at Pakistan Stock Exchange, a Gong Ceremony was held to mark the listing of preference shares of Engro Polymer & Chemicals Limited (EPCL). The said listing which brings forth a new investment opportunity from EPCL, took place on 31st December, 2020. To open the trading day, the gong was struck …

Ogra denies rumors about rise in petrol prices

The Oil and Gas Regulatory Authority (Ogra) denied news making rounds on media on Thursday about recommending the government to increase in petrol prices. “Reports that are spreading on media relating to the rise in prices of petroleum products are uncorroborated,” clarified a spokesperson. The sources in the petroleum division informed that Ogra has proposed …

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