The government on Thursday raised CNG price by Rs 1.73 per kg (province-wise) in line with increase in electricity, gas tariff and GST effective July 30, 2010. The price of CNG in Khyber Pakhtunkhuwa and Balochistan has been increased from Rs 55.30 per kg to Rs 57.03 per kg
Oil and Gas Regulatory Authority (Ogra) has unearthed an irregularity amounting to millions of rupees in Mari Gas Company Limited (MGCL) on account of purchase of land in Rawalpindi without prior approval of Ministry of Petroleum and has directed that the plot be sold and its proceeds added to
The Economic Co-ordination Committee (ECC) of the Cabinet meeting with Minister for Finance Dr Abdul Hafeez Sheikh in the chair on Thursday approved import of 375,000 tons sugar. The commodity would be sold at USC outlets during Ramazan at Rs 55 per kg.
The State Bank of Pakistan (SBP) on Wednesday granted No Objection Certificate (NOC) to Faysal Bank Limited for the purchase of Royal Bank of Scotland Pakistan operation. Faysal Bank Limited (FABL) has already entered into an agreement to acquire 99.37 percent interest in the Pakistan franchise of Royal Bank
The government on Wednesday granted an exploration licence to Oil and Gas Investments Limited (OGIL) for Block No 2667-12 (Baran) located in Sindh. The latter will make an initial investment of $5.2 million at the exploration stage.
Prime Minister Syed Yousuf Raza Gilani on Wednesday constituted a Special Committee headed by Finance Minister Dr Abdul Hafeez Shaikh to finalise collection of Reformed GST within two weeks. Gilani was chairing meeting of the Special Economic Co-ordination Committee and announced its constitution comprising the finance secretaries and experts
The International Monetary Fund (IMF) has asked the government to curtail its expenditure and increase revenue for repayment of its loan given to Pakistan under Stand-by-arrangement (SBA), officials of Finance Ministry said on Monday. They said that the IMF like any bank wanted guarantee that its money would be
The Cabinet Committee on Textile which met with Finance Minister Dr Abdul Hafiz Sheikh in the chair on Monday abolished 15 percent regulatory duty on export of yarn and decided to carefully monitor domestic availability of the commodity.
The National Electric Power Regulatory Authority (Nepra) has once again increased power tariff by 64 paisa per unit. According to sources in Nepra, the tariff was raised under the monthly fuel adjustment formula, and will be implemented from July 1. The consumers will have to pay this additional fuel
The Prime Minister Inspection Commission (PMIC) has unearthed massive financial and management irregularities in top ten mega projects included in Public Sector Development Programme (PSDP) and suggested remedies to bring positive change in these projects.
The Economic Co-ordination Committee (ECC) of the cabinet has reportedly rejected a proposal regarding fresh tendering of controversial Pakistan Mashal LNG Project (PMLP) but instructed the Petroleum Ministry to check the financial health of 4 Gas, official sources told.
Ministry of Finance has not revised the ambitious revenue collection target of Rs 1,667 billion for the Federal Board of Revenue (FBR), as the tax authorities have dispatched an annual collection plan (2010-2011) to the concerned FBR members for meeting the monthly and quarterly targets set for current fiscal
President Asif Ali Zardari on Wednesday constituted the 8th National Finance Commission with Federal Minister for Finance as its Chairman. A statement issued by the Ministry of Finance here on Wednesday said that in pursuance of Article 160 (1) of the Constitution of the Islamic Republic of Pakistan.
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