PM Shehbaz directs FBR to clear pending tax refund cases. Govt plans new measures to boost industrial production growth. Premier orders relocation of PRAL office to Karachi. Prime Minister Shehbaz Sharif said on Monday that the country’s economy has stabilised through continuous and strenuous hard work, while further efforts were afoot for accelerated economic growth. […]
Crude oil barrels ahead as Tehran’s counteroffer signals tough path to ending tensions
Iran demands end to blockade, compensation, sovereignty over Hormuz. OPEC oil output hits lowest in two decades in April, survey shows. US to loan 53.3m barrels of oil from Strategic Petroleum Reserve.Oil prices rose in early Asian trade on Tuesday as negotiations to end the war between the United States and Iran appeared fragile, with […]
Crude oil jumps 6% as Iran strikes ships, ignites Emirati port, squeezes Hormuz flows
Escalation follows US pledge to force the shipping route open. Central banks turn more hawkish as energy fogs rate-cut outlook. Sustained oil over $100 spurs fresh inflation fears across economies. Oil prices jumped 6% on Monday while global stocks declined after Iran escalated its military campaign, striking several ships in the Strait of Hormuz and […]
Govt announces closure of Utility Stores Corporation
Minister says consensus reached to provide Rs28bn package. Lauds USC role in providing commodities at subsidised rates. “Pakistan’s economy showing signs of improvement.” ISLAMABAD: Federal Minister for Parliamentary Affairs Dr Tariq Fazal Chaudhary on Sunday announced the closure of the Utility Stores Corporation (USC) across the country. Addressing a press conference alongside USC Managing Director […]
Govt keeps petrol price unchanged, slashes diesel by Rs3 per litre
Finance ministry notifies modified fuel rates. Kerosene reduced by Rs1.46, light diesel by Rs2.4. New fuel prices will be effective from September 1. The federal government has decided to keep the petrol price unchanged, while slashing high-speed diesel by Rs3 per litre for the next fortnight The new fuel prices will be effective from September […]