Category: Business
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Chinese ship sets off for Europe through Arctic, halving travel time
BEIJING: A Chinese container vessel has set sail for Europe through the Arctic, part of new weekly service on a route that cuts shipment times in half but which environmental groups warn could speed up the melting of polar ice. The “Dubai Tower” left the eastern port city of Ningbo on Saturday evening heading north,…
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Govt mulls comprehensive construction sector package, including CIDB
ISLAMABAD: The federal government is considering a comprehensive package of reforms for the construction sector, including the establishment of a Construction Industry Development Board (CIDB), a dedicated Construction Development Bank (CDB), changes to import and export policies, and targeted tax reforms. Federal Minister for Economic Affairs and Establishment Division Senator Ahad Cheema chaired a high-level…
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Pakistan, Hong Kong sign arrangement on customs cooperation
A virtual Signing Ceremony was held at the Federal Board of Revenue (HQ), Islamabad, for signing the “Co-operative Arrangement regarding Co-operation and Mutual Administrative Assistance in Customs Matters between Pakistan Customs and Hong Kong Customs.” The ceremony was chaired by Syed Shakeel Shah, Member Customs (Operations), Federal Board of Revenue. The Cooperative Arrangement provides the…
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Thar Desert Train Safari to depart today from Karachi
KARACHI: The Sindh government will launch a special Thar Desert Train Safari today (Thursday) as part of celebrations marking Pakistan’s 79th Independence Day. The special train will depart from Karachi and travel through Hyderabad, Mirpurkhas and Umerkot before reaching Khokhrapar, offering passengers an opportunity to explore the region’s historical and cultural heritage. The safari will…
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Government Announces New Prices of Petroleum Products
ISLAMABAD: The government has announced new prices for petroleum products, with the price of petrol reduced while diesel has become more expensive. The Petroleum Division issued a notification on August 12 regarding the revised prices of petroleum products. According to the notification, the price of petrol has been reduced by Rs1.70 per litre, bringing its…
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Global Oil Prices Continue to Rise, Brent Crude Reaches $89.63 per Barrel
LONDON: Oil prices in the international market continued their upward trend, with Brent crude approaching the $90-per-barrel mark amid growing uncertainty surrounding global energy markets. According to media reports, the price of Brent crude oil increased by 72 cents, reaching $89.63 per barrel. Similarly, the price of US benchmark West Texas Intermediate (WTI) crude rose…
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Electricity Tariff May Increase by Rs1 per Unit Under New Quarterly Adjustment
ISLAMABAD: Electricity prices across Pakistan may increase by approximately Rs1 per unit under the new quarterly adjustment mechanism, as power distribution companies have submitted a request to the National Electric Power Regulatory Authority (NEPRA). According to sources, the proposed increase is linked to the upcoming quarterly tariff adjustment, with the existing relief period set to…
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Petroleum Dealers Give Government 72-Hour Ultimatum After Talks Fail
ISLAMABAD: The Petroleum Dealers Association has given the government a 72-hour ultimatum to accept its demands, warning that petrol stations across the country could be shut down if the issues are not resolved. The development came after negotiations between representatives of petroleum dealers and the government failed to produce a breakthrough. The association’s chairman said…
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Government Keeps Petrol and Diesel Prices Unchanged on August 11
ISLAMABAD: The government has decided to maintain the existing prices of petroleum products for August 11, according to a notification issued by the Petroleum Division. Under the notification, there will be no change in the prices of petrol and high-speed diesel, and the existing rates will remain applicable. The price of high-speed diesel has been…
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Gold Prices Rise Further Across Pakistan
KARACHI: Gold prices increased further across Pakistan on Tuesday, with the price of one tola of gold rising by Rs2,400, according to the All-Pakistan Sarafa Gems and Jewellers Association. Following the latest increase, the price of 24-karat gold rose to Rs459,736 per tola. The association said that the price of 10 grams of gold increased…
