Commerce

Gwadar port to become profitable entity within two years: Minister

ISLAMABAD (Sarzameen News)- Minister of State for Maritime Affairs Jaffar Iqbal on Wednesday said that Gwadar port is in the development phase and it will become a profitable entity in the next two to three years. Reply to a query during National Assembly session, he said that modern machinery has been placed at the port to load

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OGRA recommends Rs 3.56/litre hike in petrol price

ISLAMABAD (Web Desk) – Oil and Gas Regulatory Authority (OGRA) has forwarded a summary to finance ministry on Tuesday recommending Rs 3.56 per litre hike in petrol price. The regulators have recommended the ministry to hike prices of petroleum products for the month of March with an upward revision of petrol price by Rs 3.56/litre

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Engro Corporation’s PAT from continuing operations grows 26%

ISLAMABAD (Sarzameen News)- Pakistan’s premier conglomerate, Engro Corporation (PSX: ENGRO) announced its financial results yesterday for the year 2017 at a meeting held at its headquarters in Karachi. The company posted a consolidated profit-after-tax of PKR 16,290 million compared to PKR 12,912 million (excluding one-off capital gain on Engro Foods disposal). The underlying businesses performed strongly

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Cellular companies depositing withholding taxes in national exchequer: Finance Minister

ISLAMABAD (Web Desk)- Federal Minister for Finance, Revenue and Economic Affairs Rana Muhammad Afzal Khan on Wednesday said that the cellular/mobile phone companies (Telcos) are collecting withholding taxes from their subscribers, and depositing the same on weekly basis in the National Exchequer. Speaking in the Senate during question hour, the minister said that the government

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Rs. 200 million approved for SCPA

KARACHI (Sarzameen News)- Sindh Child Protection Authority (SCPA) approved Rs. 200 million budget for the year 2017-18 in its 7th meeting held here under its chairperson /Advisor to Chief Minister Sindh for Social welfare Shamim Mumtaz on Tuesday at committee room of Sindh Assembly building. Secretary Social Welfare Alia Shahid, DG SCPA  Hafeezullah Abbasi, Madadgar helpline

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PTCL signs Fiber Leasing Agreement for 3rd consecutive year with Telenor Pakistan

ISLAMABAD (Sarzameen News)- Pakistan Telecommunications Company Limited (PTCL) and Telenor Pakistan (TP), for the third consecutive year have entered into a fiber leasing agreement, under which PTCL will deliver fiber footprint to Telenor Pakistan. Prior to this agreement, PTCL and Telenor have successfully signed and executed two back to back fiber leasing agreement in 2016 and

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Govt aiming for pro-investment, pro-business budget, ADB told

ISLAMABAD (Sarzameen News)- Special Assistant to the Prime Minister on Revenue/Federal Minister Haroon Akhtar Khan has said the government is aiming for a pro-investment and business-friendly federal budget for the coming year to jumpstart growth and boost the economy. We are looking into all possible ways to boost the GDP growth and we are willing to

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PSO receivables soar to all-time high of Rs334bn

ISLAMABAD (Sarzameen News)- Pakistan State Oil’s receivables have augmented to all-time high of Rs334 billion as state-owned company continues to cope with financial difficulties in the wake of non-payments. Insiders of the liquidity front have told our correspondent that only power sector owes a mammoth Rs285 bn whereas debt liabilities of Hub Power Company stands at

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Statistics released by SBP tell that every Pakistani owes Rs 130,000

KARACHI (Sarzameen News)- As per the latest figures released by the State Bank of Pakistan on Friday, every Pakistani is now indebted by Rs 130,000. The debt situation of Pakistan continues to increase at an alarming rate as the latest figures and statistics released by the State Bank of Pakistan indicate. Pakistan’s total debt has increased

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Govt charging Rs 34.24 taxes on petrol, Rs 40.74 on diesel: report

ISLAMABAD (Sarzameen News)- According to ministry of petroleum report submitted in National Assembly, the federal government is charging hefty surcharge on petroleum products. According to the report, the ex-refinery price of petroleum products is Rs 50.27 while the government is charging Rs 84.51 from the customers, thereby taking Rs. 34.24 as surcharge. Similarly, the government is

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