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  • Encouraging investment: Competition watchdog issues policy note to OGRA

    January 2, 2014 7:30 PM 15

    Recomm­ends regula­tory body to decide over pendin­g licenc­e applic­ations. The Competition Commission of Pakistan (CCP) has issued a policy note to the Oil and Gas Regulatory Authority, recommending it to exercise its power and encourage investment in the sector. The CCP, through the note, has recommended that the regulatory body should act under the Ogra ordinance

  • Expensive urea: Engro raises fertiliser prices

    January 2, 2014 7:29 PM 19

    Move likely to be follow­ed by other player­s after GIDC revisi­on. Following the government’s move of reviving Gas Infrastructure Development Cess (GIDC), Engro Fertilizer has increased the prices of its urea fertiliser on Thursday – a practice expected to be followed by other players. The GIDC was first introduced by the PPP government in an effort

  • Forex: SBP reserves increase to $3.6b, data reveals

    January 2, 2014 7:25 PM 16

    Inflow­s from multil­ateral and bilate­ral source­s provid­e respit­e . Foreign exchange reserves held by the State Bank of Pakistan (SBP) increased 14.5% during the week ending on December 27, according to data released by the SBP on Thursday. The central bank’s foreign exchange reserves increased by $464 million to $3.6 billion as opposed to $3.1 billion

  • National flag carrier: PIA privatisation ‘hinges on financial adviser’s report’

    January 2, 2014 7:25 PM 24

    Secret­ary says Dec 2014 deadli­ne for sell-off can be extend­ed. Pakistan’s commitment to the International Monetary Fund (IMF) to sell 26% shares of national flag carrier Pakistan International Airlines (PIA) by the end of this year was not sacrosanct and a lot depended on the report of financial adviser, said Privatisation Secretary Amjad Ali Khan. In a briefing

  • China’s top textile conglomerate set to invest $ 100m in Pakistan

    January 2, 2014 4:17 PM 22

    BEIJING: The textile sector of Pakistan is all set to get unprecedented boost in financing, state of the art technology, new marketing technique as well as job opportunities for locals as China's top textile conglomerate - the Shandong Ruyi Group - is ready to take over major share of a Pakistan's textile enterprise next week. Jerry Liu, Vice-Chairman

  • Kamal

    January 2, 2014 2:42 PM 19

    QUETTA: Minister of State for Petroleum, Gas and Natural resources, Jam Kamal has said that drilling companies were working on the project to discover more gas reservoirs here in Balochistan. In line with the 18th constitutional amendment, a committee was being formed to review issues regarding the representation of Balochistan in gas companies and Pakistan

  • Hong Kong stocks end 0.14pc higher

    January 2, 2014 10:02 AM 14

    HONG KONG: Hong Kong stocks closed 0.14 percent higher on Thursday after the Dow and S&P 500 ended 2013 at record highs on Wall Street, although gains were capped by weak Chinese manufacturing data. The benchmark Hang Seng Index rose 33.66 points to 23,340.05 on turnover of HK$48.76 billion ($6.29 billion). Chinese stocks closed down 0.31 percent. The benchmark

  • NEPRA approves hike in power tariff by 27 paisa pre unit | BUSINESS

    January 2, 2014 9:24 AM 13

    ISLAMABAD: The National Electric Power Regulatory Authority (NEPRA) has approved hike in the power tariff by 27 paisa per unit under monthly fuel adjustment plan. He said that the adjustment has been made for the month of November 2013. The consumers of Karachi Electric Supply Company (KESC) would be exempted from the raise.

  • Facilitating mass transit: CDA board gets ball rolling on public transport system

    January 2, 2014 6:03 AM 15

    Qualit­y Bus Servic­e will cover three busy routes, integr­ate into wider BRT projec­t when it starts. Islamabad’s longstanding demand for a decent public transport system may finally have fallen to functioning ears, as the Capital Development Authority (CDA) board on Wednesday approved in principle a new Quality Bus Service (QBS) project. The board

  • small textile units deprived of gas

    January 2, 2014 1:58 AM 46

    LAHORE - With a view to benefit from free market access status to EU countries after GSP Plus status to Pakistan, the SNGPL, on directives of the federal government, is supplying gas only to spinners and large scale gray textile manufacturing units whose contribution to textile export is mere $3-4 billion. On the other hand, the SME units of value-added