Pakistan Today

LONDON: Stocks rallied and the British pound gained on Thursday as Britain and the European Union closed in on a free-trade deal and investors wagered on a global economic recovery. Britain and the European Union were hammering out the final details of a narrow trade deal on Thursday with an announcement expected imminently, adding to an optimistic mood in the...

ISLAMABAD: The Economic Coordination Committee (ECC) of the Cabinet is expected to decide on Thursday (tomorrow) the shelving of Liquefied Petroleum Gas (LPG) air mix projects by the Sui Northern Gas Pipeline Limited (SNGPL) and Sui Southern Gas Company Limited (SSGC). Following to ECC's decision on 26th March 2020 to shelve the installation of all LPG air mix plants on...

BAT clarifies that Pakistan setup is being established 'in parallel to the company's business in Malaysia', and will serve Asia Pacific and Middle East region

ISLAMABAD: The Pakistan International Airlines (PIA) has reduced its fares on the Gilgit/Skardu-Islamabad route for both sides, a report submitted to the Gilgit-Baltistan Supreme Appellate Court (SAC) read. According to a statement issued by the SAC, the PIA general manager informed the court on Wednesday that the national airline has lowered its fares to and from Gilgit/Skardu-Islamabad, as opposed to...

ISLAMABAD: In compliance with the government’s decision, the Federal Board of Revenue (FBR) has withdrawn five per cent regulatory duty on the import of cotton yarn. The FBR issued SRO 1352(I)/2020 on Wednesday to amend SRO 680(I)/2019 dated June 28, 2019, to withdraw the regulatory duty on import of cotton yarn till June 30, 2021. The Economic Coordination Committee (ECC) of...

ISLAMABAD:In order to promote the use of electric vehicles in the country, the government has decided to offer massive tax exemptions. As per the Ministry of Industries' summary related to Electric Vehicles (EV) Policy for four-wheelers, which was approved by the cabinet, only 1pc sales tax would be imposed for locally made EVs up to 50kwh, as well as light...

ISLAMABAD: The Central Power Purchasing Agency (CPPA) has recommended the National Electric Power Regulatory Authority (NEPRA) to approve a Rs1.52 per unit hike in power tariff under fuel cost adjustment (FCA) for the months of October and November 2020. According to NEPRA, the Central Power Purchasing Agency, on behalf of power distributing companies (DISCOs), has sought an increase in power...

ISLAMABAD: Ambassador of the Kingdom of Norway to Pakistan Kjell Gunnar Eriksen on Wednesday appreciated the newly promulgated Renewable Energy Policy of Pakistan, expressing hope that his country would soon forge cooperation with Pakistan in the field of renewable energy. In a meeting with the Federal Energy Minister Omar Ayub Khan at his office in Islamabad, the ambassador apprised the...

KARACHI: Pakistan has signed an agreement with a Chinese company for procurement of buses for Karachi’s Bus Rapid Transport (BRT) Green Line project. According to sources, an agreement has been signed with a Chinese company, which will provide 80 buses for the Green Line BRT and 20 buses for the Orange Line project. The buses are expected to reach Pakistan in...

LONDON: Oil steadied on Wednesday after earlier losses sparked by an unexpected rise in US crude oil inventories, and as President Donald Trump rattled markets by threatening not to sign a long-awaited US Covid-19 relief bill. Brent crude futures were up 12 cents, or 0.2pc, to $50.20 a barrel at 1046 GMT, while US West Texas Intermediate (WTI) crude futures...

PESHAWAR: The governments of Khyber Pakhtunkhwa, Sindh and Balochistan have termed the annual report of National Electric Power Regulatory Authority (NEPRA) "contradictory to ground realities", it was learnt on Wednesday. The provinces argued that the authority's figures regarding supply and demand of electricity are "not based on facts", and that the duration of load shedding in Sindh and Balochistan is...

LAHORE: PepsiCo Pakistan on Wednesday hosted a virtual graduation ceremony for 1,600 fellows of the PepsiCo-Amal youth programme. The speakers at the ceremony included Furqan Ahmed Syed, CEO PepsiCo Pakistan and Afghanistan, Benje Williams, Co-Founder Amal Academy, Ali Siddiq, CEO of Amal Academy and Fawad Chaudhry, Federal Minister of Science and Technology. The PepsiCo Amal Youth program was launched in 2018...

KARACHI: The Pakistan Stock Exchange (PSX) endured a volatile session on Wednesday, with the indices swinging both ways in search of a clear direction before landing in the green. Equity markets around the world also turned their losses into gains, whereas crude oil prices inched up from the previous close; WTI crude price appreciating 0.17pc to $47.10 while Brent crude...

NEW DELHI: Honda Motor Co has halted production at one of its two car manufacturing plants in India, the carmaker said on Wednesday, a country where sales of its vehicles have been under pressure from competitors. The Japanese automaker has stopped producing cars at its plant in Greater Noida close to the capital of New Delhi and will move all...

The joint venture, tentatively called LG Magna e-Powertrain and valued at $1 billion, will manufacture e-motors, inverters and onboard chargers, according to LG Electronics. The deal expands a wave of consolidation among suppliers aiming to capture a growing market for electric vehicle, e-axle systems, which combine electric motors, power controls and driving gears in one unit. Earlier this year, gear...