Archive for ‘Business news’

July 1, 2011

Market watch: Bourse gains in late buying

 Benchmark KSE-100 share index rises 72 points.

KARACHI: 

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July 1, 2011

Centre to collect sales tax on seven services

Notification will be issued after meeting with four chief ministers next week. DESIGN: MOHSIN ALAM

ISLAMABAD: 

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July 1, 2011

Consumer giant Nestle Pakistan, contributes 26% to total KSE-100 gain Heavy lifter

 Consumer giant’s stock price jumped 228% in fiscal 2011.

KARACHI: 

Consumer giant Nestle Pakistan, which is owned by a select group of investors, contributed 26 per cent to the total gain of the benchmark KSE-100 share index in the outgoing fiscal year.

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July 1, 2011

Devolution In Process: Sindh Revenue Board starts work today

KARACHI: 

Sindh Revenue Board, setup to collect General Sales Tax (GST) on services, will start functioning from today (Friday) and it will be given the status of a separate department soon.

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July 1, 2011

CNG stations in the Faisalabad Gas cut to create panic amongst commuters

Load management schedule to halt gas supply in the region thrice a week.

FAISALABAD: 

The suspension of gas supply to more than 350 CNG stations in the Faisalabad region on Thursday has led to a number of public transporters unable to run vehicles on roads, creating panic amongst commuters.

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July 1, 2011

Pak-India working committee Petroleum committee fails to make progress

Indian companies keen to export oil to Pakistan.

KARACHI: 

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July 1, 2011

Pakistan loses fresh food items Fresh food items worth Rs50b wasted every year

Pakistan loses fresh food items worth Rs50 billion every year because of lack of preservation.

FAISALABAD: 

Pakistan loses fresh food items worth Rs50 billion every year because of lack of preservation and value-addition technology, says an agricultural expert.

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July 1, 2011

Forex reserves ease to $17.47 billion

Bank reserves rise to $3.45 billion.

KARACHI: 

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July 1, 2011

Govt approves reduction in petroleum prices

The government has approved a reduction in the prices of petroleum products, Express 24/7 reported on Thursday.

ISLAMABAD: The government has approved a reduction in the prices of petroleum products, Express 24/7 reported on Thursday.

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June 30, 2011

PM calls for strategy to meet energy needs

PM Gilani instructs ministry to immediately prepare gas load management plan. PHOTO: FILE

ISLAMABAD: 

Prime Minister Yousaf Raza Gilani has directed the Ministry of Petroleum and Natural Resources to prepare a comprehensive strategy to meet energy needs, particularly the demand for gas and oil, for the next two years.


He also stressed that a gas load management plan should be prepared and announced immediately.


He was talking to Minister for Petroleum and Natural Resources Dr Asim Hussain, who called on him at the Prime Minister’s House on Wednesday.


The prime minister reiterated the government’s commitment to explore all possible options to ensure supply of electricity and gas in the country. He expressed confidence that besides tapping domestic sources, agreements with regional countries to meet energy needs would bring positive results.


Earlier, the petroleum minister briefed the prime minister on his recent visit to Iran and a meeting with the Iranian energy minister. He said a gas pipeline stretched over 1,100 km had been completed on the Iranian side while progress on the pipeline project on the Pakistani side was quite satisfactory.


Discussing import of electricity from Iran, he pointed out that an Iranian team of experts would arrive in Pakistan soon to assess feasibility of the project, particularly establishing connection with the national grid.


Hussain said work on Kunner-Pasakhi Deep oil and gas exploration project had started and 100 million cubic feet of gas would be available from October this year.


Discussing progress on the liquefied natural gas (LNG) project, he said 17 businesses had shown interest in supply of gas to Pakistan, of which prominent bidders were Shell, Vitol, GDF, Norwegian Fund and Daewoo Group. They also talked about the prospects of gas price rationalisation.