Business

Overcharging pug in bills, Citizen takes SSGC to consumer court

A citizen in Karachi on Friday moved consumer court against the Sui Southern Gas Company (SSGC) overcharging Passing Un-registered Gas (PUG) in the bills,  reported. Applicant filed the plea in the consumer projection court east, which was accepted by Judge Javed Ali Korejo. The citizen in his plea stated that the SSGC is overcharging under …

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SECP Disqualifies B4U Group Sponsors For 5 Years, Rs 04 billion Fine Imposed

The Securities and Exchange Commission of Pakistan (SECP) has disqualified the sponsors of the B4U Group from becoming a director of any company for a period of five years and has also imposed a penalty of Rs100 million on each of its sponsors, a statement said on Saturday. Further, the sponsors would not be allowed …

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Pakistan gets $4.5bn facility for oil, LNG imports

Pakistan has secured a $4.5 billion worth of three-year trade financing facility from Jeddah-based Islamic Trade Finance Corporation (ITFC) to cover import cost of crude, petroleum products and liquefied natural gas (LNG). A formal financing framework agreement on the arrangement would be signed early next week here, informed sources told Dawn. The funds would be …

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Pakistan-IMF talks over sixth economic review remain inconclusive

Pakistan and the International Monetary Fund (IMF) held inconclusive talks over a sixth review of the $6 billion loan programme. Finance Minister Shaukat Tarin confirmed that the talks with the Fund over the sixth economic review remained inconclusive. He said the government cannot put burden on the poor, adding talks with the International Monetary Fund …

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Sindh cabinet okays 20% raise in salaries, Rs25,000 minimum wage

The Sindh cabinet on Tuesday approved the provincial budget for the fiscal year 2021-22 with an overall outlay of Rs1.47 trillion. Chief Minister Syed Murad Ali Shah presided over a special meeting of the provincial cabinet to discuss and approve the budget 2021-22, which he will unveil in the Sindh Assembly session later today.  The …

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Over Rs4 per litre hike proposed in fuel prices by Ogra from June16

Oil and Gas Regulatory Authority (Ogra) on Monday proposed a hike in fuel prices by over Rs4 per litre for the next 15 days starting from June 16. According to details, a summary has been moved from the Oil and Gas Regulatory Authority (Ogra) to the petroleum division for approval, seeking an increase in petrol …

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Government introduces ‘Meri Gari Scheme’

In a bid to facilitate the masses, the government on Friday introduced ‘Meri Gari Scheme’. Addressing the National Assembly budget session, Minister for Finance Shaukat Tarin said that the government has abolished customs and regulatory duties on vehicles up to 850cc under the scheme. Brand new vehicles up to 800cc have also been exempted from …

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Federal cabinet approves Budget 2021-22

The federal cabinet meeting headed by Prime Minister Imran Khan on Friday approved the Budget for 2021-22, giving a nod to a 10 percent increase in salaries and pensions of the government employees,  reported. According to details, the special cabinet meeting headed by Imran Khan and attended by federal ministers, advisers, special assistants, and others …

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Incentives for manufacturing, construction, other sectors led to economic recovery in FY21: Tarin

Federal Finance Minister Shaukat Tarin unveiled on Thursday the Pakistan Economic Survey 2020-21. Speaking at his pre-budget 2021-22 press conference, he said the Covid-19 pandemic once again reared its ugly head in Feb and March 2021 and it was apprehended that it could be more dangerous than the previous two waves of the virus. Finance …

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