Salman Abduhu

  • LAHORE - The Lahore Electric Supply Company (Lesco) has intensified power loadshedding for industrial as well as domestic consumers to more than eight hours as the shortfall has crossed 4,000MW after the newly-built 1180MW Bhikki power plant has stopped power generation. Industry sources rejected ...

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  • LAHORE - In spite of huge stock in the country, the rates of sugar in wholesale market have increased by around Rs500 per 50kg to Rs5,500 during the last one week due to limited sugar supply from the mills. As a result, the prices in retail market have jumped by Rs5 to Rs60 per kg from earlier rate ...

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  • LAHORE - Around 450 Pakistanis, including former Prime Minister Nawaz Sharif and his family members, were named in the Panama Papers leaks as holding and operating offshore companies, allegedly with the money collected through tax evasion, but only Sharif family was picked up for judicial scrutiny, ...

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  • LAHORE - As trade deficit of the country has reached all-time high of $30 billion for the first time in the history of Pakistan in the last fiscal year, the Pakistan Poultry Association has proposed the government to allow at least 50 percent freight subsidy on air as well as sea freight cost ...

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  • LAHORE - Rejecting any apprehension of negative or positive impact on economy, the business community has welcomed the Supreme Court’s final verdict to disqualify the Pakistan elected Prime Minister Nawaz Sharif in Panama case, observing the decision will give political and economic stability ...

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  • LAHORE -  The gross public debt of the country has reached Rs20.9 trillion, with an addition of Rs1.2 trillion in third quarter (July-March) of FY17. More than 90 percent of the rise in public debt came from domestic borrowing, while increase in external debt remained moderate on account of ...

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  • LAHORE -  The world’s satellite industry revenues have posted average annual growth of 9 percent while total industry revenues have reached $177.3 billion. This was stated by the speakers during a technical lecture organised by the Pakistan Engineering Congress on ‘Satellite ...

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  • LAHORE -  The Joint Investigation Team, in its final report submitted to the Supreme Court, has observed that limited tax record of Finance Minister lshaq Dar is available with FBR, as his Income Tax returns are missing from 1981/82 till 1985/86, not filing tax returns for a period of almost ...

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  • LAHORE - The wealth of Mian Sharif multiplied by more than 4 times during 1992/93 from Rs 7.53 million to Rs 32.15 million when his son Nawaz Sharif was ruling the country, but sources were not available to determine the inflow of this income whereas there was no drastic decline in his assets ...

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  • LAHORE -  The federal government has removed National Transmission and Dispatch Company (NTDC) Managing Director Dr Fiaz Ahmad Chaudhry for failing to complete projects related to CPEC on time. The NTDC Board of Directors, while adopting procedure under Companies Act 2017 under sections 190(1) ...

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  • LAHORE - The National Tariff Commission (NTC) in Pakistan has decided to impose a definitive anti-dumping duty of 24.04 percent on steel products imported from China for a period of five years effective from Thursday (June 22) to protect local industry from products’ overcapacity. This ...

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  • LAHORE -  The business associations, chambers, industrial bodies and experts have unanimously opposed the government plan of disbanding the Engineering Development Board (EDB) and termed it an unjustified decision, as the development and growth of whole auto parts vending industry’s ...

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  • LAHORE - Around two weeks after the announcement of enhanced Federal Excise Duty (FED) by 25 percent in the budget for next fiscal year, the cement prices have been increased by Rs10-20 to Rs540-550 per 50kg bag though the official implementation of duty will start from July 01. The prices of ...

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  • LAHORE - With the mercury touching almost 45 degrees Celsius, the ghost of unscheduled power outages, tripping and low voltage continued to haunt the consumers in the holy month despite achieving record electricity generation of around 19,000MW for the first time in the history. Though announced ...

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  • LAHORE -  Uptake of cement in domestic market accelerated to 10.90 percent in May 2017 while exports continue to mar the performance of the cement sector registering a decline of 44.58 percent in May 2017, the fourth massive decline in exports which declined by 45.69 percent in February, 60.39 ...

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  • LAHORE -  The Punjab government has presented its fifth budget with major focus on infrastructure development, education, health and social sector. The Rs1.97 trillion total outlay of Budget 2017-18 is 17 percent larger than last year’s total outlay of Rs1.68 trillion. Presenting the ...

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  • LAHORE -  The Punjab government has reduced rate of General Sales Tax (GST) on construction services to 5 percent from 16 percent fixed in 2016-17, also removing registration fee for new firms in the provincial finance bill 2017-18. The government, in the new finance bill, has announced ...

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  • LAHORE - The PML-N government in Punjab is presenting its last budget for the fiscal year 2017-18 today (Friday) with expected total outlay of Rs2.13 trillion against the last year’s outlay of Rs1.68 trillion. Punjab Finance Minister Dr Ayesha Ghous Pasha will present the budget. The next ...

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  • LAHORE - Residents of a part of provincial metropolis are living without electricity for the last three days due to fault in transformer of their area. The residents of Lesco sub division Nawankot, Gulshan-e-Ravi, Nonarian, Toba Masjid, street no 5 and 6 and New Shalimar Colony have been suffering ...

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  • LAHORE - The prolonged scheduled as well as unscheduled power outages have been hitting most parts of Punjab where up to 12 hours loadshedding continued in urban areas of big cities with no electricity in small cities, especially in rural areas. The residents of small cities particularly of ...

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  • LAHORE - The business community on Friday came up with mixed response to the federal budget for 2017-18, some saying the budget will promote unemployment, as no incentive has been announced for industry while some of the view is that the budget is an agenda for economic revival, resolving energy ...

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  • Lahore - The Pakistan Tanners’ Association (PTA) has urged the government to abolish customs duty on the import of basic raw materials in the upcoming federal budget 2017-18. In its budget proposals, PTA Regional Chairman Azam Malik demanded that the government should allow duty-free import ...

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  • LAHORE - More than 450 delegates from 26 countries participated in a business moot in Punjab on Monday. This is the second such a seminar organized by the Punjab Investment Board since 2015. Six hundred foreign investors, manufacturers, entrepreneurs and CEOs from different countries including ...

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  • LAHORE - The experts on Monday stressed the need to establish a “Dispute Resolution Commission”, consisting of reputed politicians, engineers, public figures and some foreign experts, for developing consensus on construction of Kalabagh Dam. “With a view to reduce dependence on ...

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  • LAHORE -  The industrial units, which are presently exempted from scheduled electricity loadshedding, might suffer power supply suspension of at least 8 hours in upcoming holy month of Ramazan, as the Lahore Electric Supply Company is considering to divert supply to domestic consumers who ...

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  • LAHORE -  The Overseas Investors Chamber of Commerce and Industry (OICCI) shared the results of its Business Confidence Index (BCI) Survey - Wave 14 - on May 10, 2017. The survey showed an overall positive Business Confidence Score (BCS) of 13 percent, a 4 percent decline over the previous BCS ...

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  • LAHORE - Exports are proving to be Achilles heel for the cement sector that has seen its growth inhibited by regular decline in exports despite very healthy growth in domestic cement consumption. Exports need the government support to realise actual potential of cement sector. Data released by ...

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  • LAHORE - Independent Power Producers (IPPs) after getting assurance from the government have withdrawn the sovereign guarantee encashment demand. According to sources at Ministry of Water and Power, the Ministry of Water and Power secretary and representatives of IPPs met last week to settle the ...

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  • LAHORE -  The decision of the Supreme Court in Panama case will give political and economic stability to the country at least in short term, ending the atmosphere of uncertainty and promoting business and industrial activities in the country. Former finance minister Dr Salman Shah appreciated ...

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  • LAHORE - The business community has said that high trade deficit, surging by almost 39 percent to high of $23.39 billion in nine months of this fiscal year along with the massive debt burden, is the toughest challenge for the country, requiring extra efforts and prudent policies to boost exports, ...

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