Month: July 2022

Every sector is under the Radar and it is leading to complete disaster, due to an economic crisis the telecom industry would go from a net profit of $188 million in 2021 to a loss of $287 million by the end of the calendar year 2022 and 2023. Telecom companies declare ‘Digital Emergency’. There was a sense that the telecom business was profitable, but the sector has been on a decreasing trend since 2016. The 74 percent cost to revenue statistic is an estimate of above EBITDA cost for 2025, which…

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Govt set to reduce the rate of petrol by Rs 3 per litre, Rs 10 per litre increase in diesel price from August 1 Oil refineries have warned the government to go on strike due to capping dollar prices at Rs 225 in the revision of oil prices for the next fortnight effective from August 1, 2022. Sources said that oil refineries held a meeting with officials of the petroleum division on Sunday to discuss issues relating to margins in the oil and refining sector. During the meeting, petroleum division…

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Chairman National Electric Power Regulatory Authority (Nepra) Tauseef H Farooqi has assured the All Pakistan Textile Industry (APTMA) of reviewing wheeling charges against cheaper power generation facilities to be set up by the industry under Competitive Trading Bilateral Contract Market (CTBCM) scheme. “Both the industry and Nepra representatives should sit together and calculate judicious wheeling charges to make them acceptable for both sides,” he proposed. He was holding an interactive session with APTMA members, including Patron-in-Chief Gohar Ejaz, Chairman Abdul Rahim Nasir, Chairman North Zone Hamid Zaman, Secretary General Raza…

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Retailers riled up over fixed sales tax Simultaneously, all Pakistan Anjuman Tajran and Traders Action Committee took to the streets in Islamabad demanding removal of Federal Finance Minister Miftah Ismail for implementing the sales tax in bills, dubbing it “cruel.” Protests by small traders have erupted in AJK, Peshawar, Lahore and many parts of country. Hasnain Khurshid, Sarhad Chamber of Commerce and Industries chief stated that with high inflation, traders were poor and could not afford this new tax burden. According to Finance Minister Miftah Ismail, there are approximately 8…

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