Sugar mills make billions by selling sugar to USC at higher prices

Sugar mills have pocketed billions of rupees by selling sugar to the Utility Stores Corporation (USC)at higher-than-prevailing market prices, causing heavy losses to the...

Hascol to invest $20m in its lubricant subsidiary

Hascol Petroleum Limited has announced that it will soon commence work on its wholly-owned subsidiary Hascol Lubricant Limited at the cost of $ US...

Motorola all set to make a comeback in the local mobile industry

Motorola is making a comeback in the local mobile industry through the launch of its new trademark “Lenovo Moto”, reported a national daily.It is...

Pakistan soon to export seafood to Xinjiang

Pakistan will soon be exporting seafood to the Xinjiang Uygur, an autonomous region in the north-west of China. The transport will use the land route...

IHC suspends PM’s orders on OGRA member’s appointment

Islamabad High Court (IHC) has suspended the orders of Prime Minister Nawaz Sharif regarding the appointment of member oil OGRA. A single member bench comprising of...

OGDCL’s profit, EPS decline

Oil and Gas Development Company Limited (OGDCL) announced a profit of Rs 30 billion for the half year ended December 31, 2016, down by...

Country’s current account deficit grows to 90.23%

Owing to the sliding exports and lower inflows of direct investment and remittances, Pakistan’s current account deficit further widened to a (negative) $4.716 billion...

SBP advises banks to root out terrorist financing

The State Bank of Pakistan (SBP) has directed all Banks, Development Financial Institutions (DFIs) and the Microfinance Banks (MFBs) to align their existing monitoring...

Telecom indicators in the first half of 2017

Cellular subscribers for the first half of fiscal year 2017 clocked in at 136 million, indicating a growth of 2.4% since July 2016, revealed...

Pakistan, Hong Kong sign pact to avoid double taxation

Pakistan and Hong Kong on Friday signed a pact on avoidance of double taxation and prevention of fiscal evasion with respect to taxes on income. Pakistan’s...

Engro Corporation’s profits up by more than 400%

Engro Corporation Limited’s net profit increased by more than 400 percent during the calendar year 2016, according to a notification sent to the Pakistan Stock...

UBL declares profit of over Rs 27m

UBL announced its results for the Financial Year ended December 31, 2016, at its 207th meeting held on Friday, February 17, 2017. It was...

Samsung Group chief arrested over an alleged case of corruption

Samsung Group chief Jay Y Lee has been arrested over his alleged role in a corruption scandal, reported a national daily. According to reports,...

Rs480b paid to IPPs unjustified, panel recommends recovering Rs 35b from IPPs

As the investigation into the Rs480-billion circular debt payments continues, the special panel backed federal auditors’ recommendations to recover Rs35 billion from Independent Power...

Govt releases second tranche of subsidy on fertilizers

The government has released the second tranche of the long-awaited subsidy amount promised on fertilizers in the National Budget 2016-2017. It has been a generous...

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Cement prices surge to previous levels in Punjab

LAHORE: Cement prices, after witnessing a drop of almost 15pc during the last five months, have started reverting to the previous level in the northern...

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