The Petroleum Division has planned to auction twenty new Exploration & Production blocks during next month. It is aimed at stepping up oil and gas drilling activities in different hydrocarbon potential areas of the country. A senior official privy to petroleum sector developments told APP that almost fourty new blocks have been identified, out of مزید پڑھیں

South Korean tech giant Samsung is looking forward to setting up a smartphone assembly plant in Pakistan, Minister for Industries and Production Hammad Azhar announced on Friday. The federal minister’s remarks came after he met with Samsung Pakistan’s MD and CEO. “Smartphone production in Pakistan is multiplying following Device Identification, Registration and Blocking System (DIRBS) مزید پڑھیں

The Federal Board of Revenue has exempted the import of 300,000 tonnes of sugar from sales and income taxes to bring down the price of sweetener in the country. FBR has issued a notification granting the exemption on the import of sugar by a private firm. The notification came following the Economic Coordination Committee of مزید پڑھیں

Adviser to the Prime Minister on Finance Abdul Hafeez Sheikh has said the economy has started showing signs of recovery in the wake of a weakening coronavirus pandemic in the country. Addressing a webinar organized by Karachi Council on Foreign Relations, he said this is also reflected by various indicators including a robust growth of مزید پڑھیں

Apple has become the first US company to reach a $2 trillion market value, a testament to how tech giants have gained from the upheaval of the coronavirus pandemic. The iPhone maker attained the distinction in mid-morning trading and was up 1.1% at $467.18 near 1545 GMT. The company had previously become the first giant مزید پڑھیں

The State Bank of Pakistan (SBP) on Tuesday increased concessional financing limit for women entrepreneurs from Rs1.5 million to Rs5m in a step towards financial inclusion. “To encourage women participation in the economy, the SBP has enhanced the financing limit under its Refinance and Credit Guarantee Scheme for Women Entrepreneurs from Rs1.5m to Rs5m,” said مزید پڑھیں

The government had taken many initiatives during the past two years to improve tax culture in the country and uplift the tax to GDP ratio. Government for streamlining the tax system, separated the tax policy and tax administration functions of Federal Board of Revenue to remove the apparent conflict of interest in tax collection. According to مزید پڑھیں

Oil prices slipped on Tuesday, though they mostly held onto overnight gains after OPEC. The producer grouping is almost fully complying with output cuts to support prices amid a drop in demand for fuels due to the coronavirus pandemic. Brent crude LCOc1 was down 22 cents, or 0.5%, at $45.15 a barrel by 0322 GMT, مزید پڑھیں

The price of Liquefied Petroleum Gas (LPG) shot up by Rs5/kg in the country, increasing to Rs105/kg on Sunday. According to LPG Industries Association Pakistan, the price of a gas cylinder meant for domestic use has been increased by Rs60 while a commercial cylinder’s price has gone up by Rs230. Officials said the increase in مزید پڑھیں

The United States (US) dollar gained Rs0.22 against the Pakistani rupee in the interbank market on Monday. According to forex dealers, the greenback is currently trading at Rs168.15 against the domestic currency at the interbank foreign exchange market. Meanwhile, the dollar globally edged lower and commodity currencies inched higher on Monday as investors were relieved مزید پڑھیں