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January 15, 2019 12:00 AM GST waiver on tractors urged

LAHORE: Farmer body has asked the government to waive general sales tax (GST) on locally-made tractors and implements, a statement said on Monday. Khalid Mahmood Khokhar, president of the Pakistan Kissan lttehad (PKI) said that agriculture sector, being the backbone of Pakistan's economy, contributes approximately 24 percent to GDP. However, presently

January 15, 2019 12:00 AM Withholding tax collection rises 14 percent to Rs1.128 billion

KARACHI: The withholding tax collection from non-cash banking transactions has posted 14 percent growth; following introduction of an amendment through the Finance Supplementary Act, 2018. The collection of withholding tax from non-cash transactions, which is applicable only on non-filers of income tax returns, increased to Rs1.128 billion in December

January 2, 2019 12:00 AM Murad says those seeking resignation have no wisdom

KARACHI: The Sindh Chief Minister, Syed Murad Ali Shah, has said those seeking his resignation know nothing about the ground realities and have no wisdom. Talking to the media on Tuesday, he said the “PPP has 99 seats out of 168 in the Sindh Assembly and is in a very comfortably majority,” he said. The CM advised the PTI government to first secure its position

December 15, 2018 12:00 AM Ogra cuts RLNG prices

ISLAMABAD: The Oil and Gas Regulatory Authority (Ogra) brought prices of re-gasified liquefied natural gas (RLNG) down by more than three percent for December over the previous month, as oil prices are falling in the international market. Ogra announced the monthly prices of RLNG for consumers of Sui Northern Gas Pipelines Limited (SNGPL) and Sui Southern 13

December 9, 2018 12:00 AM ‘Cotton import of 4.5mln bales needed’

KARACHI: Pakistan needs to import around 4.5 million cotton bales, which would have more pressure on the vulnerable economy, Karachi Cotton Brokers Association official said in a meeting. Naseem Usman, chairman of the association, expressed concern over declining cotton production in the country. At the time of independence of Pakistan, cotton production 11

December 2, 2018 12:00 AM Niger reports sharp drop in new AIDS infections

NIAMEY: The number of new AIDS infections in Niger dropped by more than two thirds between 2012 and 2016, the health ministry said Saturday, in a statement marking World AIDS day. Health Minister Idi Illiassou said new infections in the four-year period under review fell from 6,000 to 1,761, a decline of 70 percent. AIDS-related deaths in the country 6

November 27, 2018 12:00 AM Byco’s profit falls 76pc in Q1

KARACHI: Byco Petroleum (Byco) on Monday reported a 76 percent fall in its profit to Rs240.984 million for the first quarter ended September, translating into earnings per share (EPS) of Re0.05, a bourse filing said on Monday. Byco earned Rs1.018 billion with EPS of Re0.19 in the corresponding period a year earlier. The company didn’t announce any dividend 11

November 8, 2018 12:00 AM Bleak teenage tale wins top book prize

PARIS: Nicolas Mathieu scooped France’s top Goncourt literary prize on Wednesday for his second novel, a coming-of-age tale set against a backdrop of industrial decline and teenage lust. "Leurs enfants apres eux" (Their children after them) follows a group of teenagers growing up in the 1990s in Mathieu’s native eastern France. Mathieu, a 40-year-old 10

November 7, 2018 12:00 AM POL sales decline 32 percent in October

KARACHI: Overall petroleum products sales declined 32 percent to 1.65 million tons in October 2018, primarily because of shifting of power generation from furnace oil (FO) to RLNG and coal-based generation resulting in lower demand of FO, as per latest petroleum sales data issued on Tuesday. Analyst Arslan Hanif at Arif Habib Limited said various factors 8

October 26, 2018 12:00 AM Habib Bank’s nine-month profit surges fivefold

KARACHI: Habib Bank Limited’s (HBL) profit climbed more than fivefold to Rs9.9 billion with earnings per share (EPS) of Rs6.57 for the nine-month period ended on September 30, a bourse filing said on Thursday. HBL earned Rs1.6 billion with EPS of Re0.87 in the corresponding period a year earlier, a statement to the Pakistan Stock Exchange said. The bank announced 9