06292016Wed
Last update: Wed, 29 Jun 2016 07pm

Business & Economy

Pakistan - Business & Economy

Fertilizer prices set to reduce by Rs390 per bag in Rabi season ISLAMABAD: The government's Rs 36 billion subsidies on urea and massive cut in sales tax will help reduce domestic fertilizer prices by a 20 per cent during the upcoming crop season, analysts said on Tuesday."Fertilizer prices are being reduced by around Rs 390 per bag, which is a 20 percent cut in the prices," said Ruhail Mohammed, Chief Executive Officer of Engro Fertilizers."Of the total price cut, Rs 50 is being borne by manufacturers, whereas the remaining will come from reduction in GST (General Sales Tax) and subsidy from the government," Ruhail said in a statement here.The government has proposed Rs 36 billion subsidies on urea, cut in sales tax to 5 per cent from the current 17 per cent and a cap in gas tariff in the budget for the fiscal year 2016-17.The move is likely to result in fertilizer prices plunging from the current Rs 1,800 per bag ...

Pakistan - Business & Economy

Utility Stores further reduce prices of subsidized items ISLAMABAD: The Utility Stores Corporation (USC) has further reduce prices of the already subsidized items under its Ramazan Package.According to details the price of utility ghee has been reduced by Rs 3 per kg to Rs 112 per kg while utility oil price has also been reduced from Rs 125 to Rs 120 per liter.Whereas prices of soft drinks (1.5 liter) have also been reduced by Rs 2 to Rs 65.Similarly prices of cooking oil ...

Pakistan - Business & Economy

Fruit, vegetable prices remain stable at weekly bazaars ISLAMABAD: Prices of most vegetables and fruits Tuesday remained stable in the in the weekly bazaars of Federal Capital.According to the rate list issued by Capital Development Authority Directorate of Municipal Administration, onions were being sold at Rs 120 per five kilograms, potatoes at Rs 136 per five kg, ladyfinger at Rs 36 per kg, white pumpkin Rs 40 per kg, ridge gourd (tori) at Rs 40 per kg, tomatoes at Rs 34 per kg, ...

Pakistan - Business & Economy

Shipping activity at Port Qasim KARACHI: Two ships C.V AL-Bahia and M.T Sky Ploeg carrying containers and chemicals were allotted berths at Qasim International Container Terminal and Engro Vopak Terminal respectively on Monday.In the meantime two more ships with containers and coal also got anchored at outer anchorage of Port Qasim.Berth occupancy was managed at the port at 53% on Monday where a Bunga Angsana, M.T Al-Dasma, M.T Sky Ploeg, M.T Black Pearl are currently occupying Terminals to load/offload containers, ...

Pakistan - Business & Economy

Bullion Prices on Monday KARACHI: Following were the Bullion Prices in Karachi, Hyderabad, Multan and Lahore on Monday.KARACHI: (per 10 gram) Gold Tezabi 24 CT Rs. 42257.00Silver Tezabi Rs. 548.57 HYDERABAD: (per 10 gram)Gold 24 CT Rs. 41750.00Gold 22 CT Rs. 38270.00Silver Rs. 540.00MULTAN: (per 10 gram)Gold Tezabi 24 CT Rs. 41830.00Gold 22 CT Rs. 38250.00Silver Tezabi Rs. 574.00Silver Thobi Rs. 525.00LAHORE: (per 10 gram)Gold Tezabi 24 CT Rs. 42267.00Gold 22 CT Rs. 38745.00Gold 21 CT Rs. 36983.00Silver Tezabi ...

Pakistan - Business & Economy

Gwadar to serve as gateway for Afghanistan CARs: Yaqoob Nasir QUETTA: Chairman, Senate Standing Committee for Water and Power, Senator Sardar Muhammad Yaqoob Khan Nasir said on Monday that Gwadar, an important component of China Pakistan Economic Corridor (CPEC) would serve as gateway for Afghanistan and Central Asian Republic (CARs) owing to its location and geo-strategic importance.In an exclusive talk with APP, the CPEC framework has enhanced importance of Balochistan province across the globe.With the special focus and attention by the federal government, Gwadar having ...

Pakistan - Business & Economy

Pakistan has largest 'king of fruits' cluster in world MULTAN: Pakistan has the largest Mango cluster in the world sprawling over 370 kilometre which starts from Kabirwala and culminates at Fazilpur, Rahimyar Khan."We export only 6 per cent of our total production and eat lion's share of it ourselves."Talking to APP here on Monday, Director Mango Research Institute, Mushtaq Alvi said that the crop was bumper this year adding that last year no consignment of the country returned due to fruit fly issue.Director mango ...