PSX initial public offering extended to achieve selling of 120m shares

KARACHI To complete the on-going divestment of Pakistan Stock Exchange PSX, a total of 160,295,320 ordinary shares – 20 percent of the total paid-up capital...

Europe’s leading HTV manufacturer SCANIA enters Pakistan

KARACHI Renowned Swedish heavy commercial vehicle manufacturer SCANIA has awarded exclusive distribution rights to Yousuf Dewan Companies to introduce its comprehensive range of premium trucks,...

PSX fails to impress amid cautious investors

KARACHI Within scale trading was seen as the day progressed, hinting at caution from the investing community. A lack of eye-openers remained true on Tuesday and Wednesday following...

Kohat cement to establish grey cement production line

Karachi In a notification sent to the Pakistan Stock Exchange (PSX) on Tuesday, Kohat Cement has decided to establish a grey production cement line at...

China lauds Pakistan’s efforts for smooth implementation of CPEC projects

Beijing While appreciating Pakistan government’s efforts in building China Pakistan Economic Corridor (CPEC) projects, China Tuesday reiterated it would work with Pakistan to push forward smooth...

Continuation of super tax to discourage investors: FPCCI

Karachi The Federation of Pakistan Chambers of Commerce and Industry (FPCCI) on Tuesday said super tax was imposed for one year but it has been...

Five Chinese companies to open automobile plants in Lahore and Karachi

Karachi Under the Automobile Development Policy 2016-2021, five Chinese companies in partnership with local companies will be building plants in Pakistan, two in Karachi and...

Punjab government to raise Rs25b through government securities

Lahore Throughout the Financial Year 2017-18, the Punjab government is expected to raise Rs25b through government securities with the aid of the State Bank of...

FBR to jack up property valuation rates for real estate sector by up to 30pc

Islamabad The FBR is planning to bring cities like Okara, Khairpur, Larkana and a few others under the jurisdiction of the new property valuation measures....

OCCI sends letter to Finance Minister Ishaq Dar, opposing tax measures in budget FY 2017-18

Lahore Overseas Investors Chamber of Commerce and Industry (OCCI) has sent a letter to the Finance Minister Ishaq Dar informing him that the taxation measures...

IPPs payables reach Rs191b, may shut down their power plants

Islamabad The IPPs Advisory Council (IPPAC) has claimed that till May 15th the figure of payables has reached Rs191b and if the payment isn't made...

Crude oil production stands at 24.2 mbl in nine months

Pakistan’s domestic crude oil production stood at 24.2 million barrels (mbl) in first three quarters of the current fiscal year as compared to 24...

KP Govt to unveil Rs606b tax free budget 2017-18 with Rs47b hike in ADP today

Peshawar The PTI led coalition government is all set to present its fifth annual tax free budget carrying about Rs 606 billion outlay with Rs...

ADP 2016-21 decisive for growth in automobile sector: MoIP

Islamabad Ministry of Industries and Production Tuesday informed that investment under the Automotive Development Policy 2016-21 is very crucial for growth in this sector and...

Russia-Pakistan gas pipeline in doldrums over tariff issue

ISLAMABAD Under the intergovernmental agreement which was signed by the two countries in 2015, implemented by RT-Global Resources-part of Rostec corporation- is in the doldrums...

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Lahore-based amusement company invests over Rs1bn in Rawalpindi

ISLAMABAD: At a time when the country is in desperate need of local and foreign investments, a Lahore-based amusement company, Joyland, under its expansion plan,...

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FBR extends deadline to file tax returns

The Federal Board of Revenue (FBR) on Friday extended the last date for submission of sales tax and federal excise duty for the tax...