Industrialists demand forensic audit of IPPs | The Express Tribune

KARACHI: Local traders and industrialists have lodged a strong protest against the supply of expensive electricity and demanded a forensic audit of independent power producers (IPPs) as well as revision of their contracts. At a press conference at the Federation House on Monday, representatives of trade and industry regretted that energy costs had become the […]

IEA sees slow growth in oil demand | The Express Tribune

LONDON: Global oil demand growth will slow to just under a million barrels per day (bpd) this year and next, the International Energy Agency (IEA) said, as Chinese consumption contracted in the second quarter due to economic problems. Global demand in the second quarter rose by 710,000 bpd year on year in its lowest quarterly […]

Provinces ‘accede’ to IMF’s demand for tax on agri income

Agriculture Department officials on a tractor spray pesticides to kill locusts as a farmer works in a field in Pipli Pahar village in Punjab in this picture taken on February 23, 2020. — AFP ISLAMABAD: As Pakistan looks to secure another International Monetary Fund (IMF) programme, provincial governments have accepted the lender’s demand seeking imposition of […]

Petroleum demand hits 18-year low | The Express Tribune

KARACHI: Despite the demand for petroleum oil products hitting an 18-year low at 15.3 million tonnes in the fiscal year 2023-24, which ended on June 30, the government is estimated to have collected an outstanding Rs1 trillion in petroleum development levy (PDL) from the sale of oil products over the year. The collection of PDL […]

Exporters demand restoration of fixed tax regime to remain competitive

This picture shows a general view of the seaport in Karachi. — AFP/File To stay competitive in world markets, exporters have strongly opposed the shift of taxation on turnover from a fixed to a normal regime as the government presses ahead with its efforts to increase revenue through various taxes introduced in the upcoming fiscal […]

Industries demand full restoration of power supply | The Express Tribune

KARACHI: Karachi Chamber of Commerce and Industry (KCCI) President Iftikhar Ahmed Sheikh and SITE Association of Industry (SAI) President Mohammad Kamran Arbi have urged K-Electric (KE) to immediately ensure proper and full restoration of electricity supply to the biggest industrial zone in Karachi. Expressing concern over delay in resuming power supply to SITE industries, they […]

MPs demand end to fertiliser subsidy | The Express Tribune

ISLAMABAD: While proposing a massive crackdown on the fertiliser mafia, members of parliament have proposed an end to the subsidy for urea manufacturers through setting uniform gas supply prices. A high-level committee, constituted by Prime Minister Shehbaz Sharif, met at the Ministry of National Food Security and Research on Friday to discuss the price and […]

Traders demand new horticulture varieties | The Express Tribune

KARACHI: The All Pakistan Fruit and Vegetable Exporters and Importers Association (APFVEA), while presenting budget proposals for fiscal year 2024-25, has stressed the need for introducing new varieties of horticulture through extensive research and development (R&D) work. Sharing details with The Express Tribune, APFVEA Patron-in-Chief Waheed Ahmed said new varieties should be developed for fresh […]

Oil gains 1% on hopes of firmer demand | The Express Tribune

NEW YORK: Oil prices settled about 1% higher on Friday, with global benchmark Brent crude recording its first weekly gain in three weeks, after economic indicators from the world’s top two oil consumers – China and the US – bolstered hopes for higher demand. Brent settled 71 cents, or 0.9%, higher at $83.98 a barrel. […]

Samsung expects strong AI demand to boost tech sales in coming year

The image shows a display centre of Samsung in South Korea. — AFP File Samsung Electronics, the South Korean tech giant, anticipates robust demand for artificial intelligence (AI) in the latter half of 2024. The surge in demand is expected to drive sales of memory chips and other tech devices. The company reported a tenfold […]

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