The Cabinet Committee on Energy (CCoE) led by Planning Minister Asad Umar had earlier approved an incentives package for modern refineries that also included 20-year tax holiday but had refused to allow such protections to existing refineries for refurbishment. Sources said the petroleum division has now removed both objections raised by the CCoE regarding incentives […]
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ISLAMABAD: The two state-owned companies, Sui Northern Gas Pipelines Limited (SNGPL) and Sui Southern Gas Company (SSGC) would lay around 18,731km of pipelines in their respective areas to strengthen their network transmission and distribution networks during the current fiscal year.Last year, the companies laid around 3,540km pipelines against the target of 7,497km, according to an […]
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Trading in embattled property giant China Evergrande was suspended Monday on the Hong Kong stock exchange, as concerns about the debt-laden firm’s future growth.No reason was given for the suspension of the shares, which have plunged around 80 percent since the start of the year. Trading in its property management arm was also halted.However, a […]
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The National Electric Power Regulatory Authority (Nepra) is likely to allow distribution companies an increase of up to Rs2 per unit in power tariff under the monthly fuel cost adjustment (FCA) for August 2021.At a public hearing on Central Power Purchasing Agency-Guarantee’s (CPPA) petition for tariff increase under the monthly FCA, Nepra questioned as to […]
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OPPO Pakistan has planned to export 5 million mobile phones per annum, says CEO George Long. OPPO wants to establish a research and development centre for transfer of technology and skill development of IT professionals in Pakistan. OPPO is optimistic about exporting locally manufactured sets from the country, the CEO adds.ISLAMABAD: OPPO Pakistan has planned […]
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KARACHI: As the deadline to file income tax returns nears, businessmen have urged the Federal Board of Revenue to extend the date to file by two months to facilitate the business community, according to report in The News published Wednesday.Federation of Pakistan Chambers of Commerce and Industry (FPCCI) President Mian Nasser Hyatt Maggo demanded FBR […]
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The price of Brent crude oil jumped Tuesday above $80 for the first time in almost three years on expectations for surging demand and concerns about supplies as the world slowly emerges from the pandemic crisis. With the rollout of vaccines and easing of lockdowns this year, bets on demand for the black gold have […]
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Equity Asian markets rose Monday following a broadly positive lead from Wall Street, while investors kept a nervous eye on developments in the crisis at troubled Chinese property giant Evergrande as it teeters on the brink. Hong Kong was among the best performers on bargain-buying after suffering a blow-out last week, though traders were still […]
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Asian markets fell Monday in holiday-thinned trade, dragged by a range of issues including the Federal Reserve’s plans to taper monetary policy, surging Delta infections, China’s regulatory crackdown and signs of a slowdown in the global recovery. Hong Kong again led the losses on growing fears about the possible collapse of troubled property giant China […]
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The Ministry of Plannning, Development and Special Initiatives mulled over a plan to build a large-scale LNG terminal with a network of pipelines at the Gwadar port along with a truckload facility. The meeting of the Pak-China Relations Steering Committee, chaired by federal minister Asad Umar, also discussed the possibility of investment by the private […]
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