Category: Affairs

The burden of payments to Independent Power Producers (IPPs) has spiked to Rs. 1,800 billion, Finance Ministry sources told ProPakistani. Sources said IPPs are exerting considerable pressure on both the Ministry of Energy and the Ministry of Finance to pay them upfront. Sources reveal that funds are being released for

Foreign Minister of Uzbekistan Bakhtiyor Saidov, currently on a two-day visit to Pakistan, called on Prime Minister Shehbaz Sharif today. The two sides discussed enhanced cooperation between Pakistan and Uzbekistan in the fields of trade and economy, security and defense, connectivity and people-to-people contacts. The importance of peace and development

The Board of Directors of Shell Pakistan Limited (SPL) announced the first quarter results for the company. The company posted a profit after tax of Rs. 314 million compared to the loss after tax of Rs. 4,762 million made in the same period last year. The Mobility business grew its

The price of gold in Pakistan fell for the second consecutive day on Wednesday to settle at Rs. 239,200 per tola. According to data issued by the Karachi Sarafa Association, the price of gold (24 carats) fell by Rs. 800 per tola to Rs. 239,200, while the price of 10

The International Monetary Fund (IMF) wants Pakistan to rationalize tax rates for individuals by removing the salaried/non-salaried distinction and reducing the number of rate slabs to no more than four. The IMF has urged Pakistan to unify taxation by reducing the highest taxable income limit for salaried workers, setting a

Attock Refinery Limited (PSX: ATRL) has resumed production at its main crude distillation unit with immediate effect, the company informed the main bourse on Wednesday. Recently some improvement has been observed in the uplifting of High Speed Diesel (HSD). Accordingly, ARL has restarted its main unit, however, the situation is

Prime Minister Shehbaz Sharif has sought a report regarding electricity issues with Azad Jammu and Kashmir (AJK) government. According to sources, talks with the AJK government over future tariff determination of Neelum-Jhelum Hydropower Plant. The talks are being held to finalize the new tariff after which an agreement would be

The Pakistani rupee gained slightly against the US Dollar today after opening trade at 278 in the interbank market. It was largely stable before closing in green against the greenback and other major currencies today. The interbank rate stayed at 278 most of the day before closing at the same