Category: Shortcode

KCCI appreciates Govt for giving ‘industry status’ to warehouses & logistics

Admin
KCCI-Import

KARACHI: President Karachi Chamber of Commerce and Industry Iftikhar Ahmed Sheikh has appreciated the government for announcing the much-awaited status of Industry to warehouses and logistics which was widely being demanded by the business and industrial community.In a statement issued, President KCCI said that the status of industry for warehouses and logistics was an outcome of a series of meetings from time to time particularly the recent meeting held in Islamabad between Prime Minister Shehbaz Sharif and Founder Chairman Warehousing & Logistics Association Haroon Farooki who struggled really hard and…

Read More

Financial facilitation will augment Pak China business activities, NBP President Hasnie

Admin
National-Bank

National Bank of Pakistan (NBP) President, Mr. Rehmat Ali Hasnie, participated in the Pakistan China Business Conference held in Shenzhen, China. Mr. Hasnie was among the delegation accompanying Prime Minister Shehbaz Sharif who on Tuesday landed in China’s Shenzhen on his official visit to the country, as Islamabad aims to advance bilateral trade and economic ties with Beijing and attract Chinese investors via business-to-business (B2B) projects. The conference provided a platform for fostering economic ties between Pakistan and China. Mr. Hasnie met with key officials, including Mr. SHI Weigan, Director-General…

Read More

Fuel Prices Likely to Drop by Rs12 Amid Declining Global Oil Rates

Admin
oil and gas

ISLAMABAD: The government is expected to announce a further reduction in the prices of petroleum products by Rs12 per litre from June 15, following a declining trend in global oil rates. At the beginning of this month, the government already reduced the prices of petrol and high-speed diesel (HSD) by Rs4.74 and Rs3.84 per litre, respectively. Consequently, the price of petrol is now Rs268.36 per litre, down from its previous rate of Rs273.10. Similarly, HSD is available at Rs270.22 per litre, reduced from Rs274.08. In addition, the prices of kerosene…

Read More

Govt Faces PPP Backlash Over Karachi Blackouts Lawmakers Accuse Government of Downplaying Power Crisis Severity

Admin
circular-debt-K-electric-ceo

ISLAMABAD: Tempers flared in the National Assembly on Friday as PPP lawmakers fiercely criticized K-Electric and the federal government over the ongoing power crisis in Karachi. PPP members challenged the government, asserting they would resign if they failed to prove claims of 16 to 20 hours of daily power outages in the city. They accused the government of downplaying the crisis’s severity. The heated debate emerged amid reports of extensive power outages in several Karachi neighborhoods, including Korangi, Lyari, North Karachi, and Surjani, experiencing over 12 hours of load-shedding daily…

Read More

PM Office Intervenes on Oil Marketing Companies’ Plea for Rs26 Billion Exchange Rate Loss Recovery

Admin

ISLAMABAD: The Prime Minister’s Office has called the attention of the Petroleum Division to the mounting exchange rate loss of Rs26 billion faced by the oil industry, along with Rs65 billion in unrecovered sales tax, which is severely impacting cash flows. In a memorandum, the Prime Minister’s Office highlighted concerns raised by the Oil Marketing Association of Pakistan’s chairman regarding fund management issues plaguing emerging oil marketing companies (OMCs). These challenges include significant unrecovered exchange losses, resulting from flaws in the foreign exchange gain/loss recovery mechanism, and the inability to…

Read More