Business

Is the govt going to lift ban on mobile phone imports?

Published

2 years ago

Farwa

ISLAMABAD: The federal government has reportedly decided to lift the ban on mobile phone imports, the orders of which are expected to be issued this week, reported Jang.

To manage its foreign exchange reserves, the federal government had imposed a ban on the import of a number of goods on May 19. However, the Ministry of Industry and Production, Cabinet Secretariat, and Customs advised and requested to revoke the ban as millions of rupees are generated from the import of mobile phones.

Pakistan imported 940,000 mobile phones in the first five months of the current year and 10.2 million phones in 2021, according to the statistics quoted by the publication.

Business

PIA privatisation: The restructuring plan is approved by SECP

Published

5 mins ago

Farwa

The legal segregation of PIACL, one of the most complex restructuring exercises ever carried out, has reached finality, according to a press release released by the Privatisation Commission on Sunday. This is because the SECP approved the Scheme of Arrangement on May 3 for the transfer of PIACL’s non-core assets and liabilities to Pica Holding Company Limited.

The Privatisation Commission, Finance Division, Aviation Ministry, and PIA have been working together to reform the airline, and this order represents a major turning point in that work.

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Additionally, the press release said that the plan went into effect on April 30, 2024.

The PSX, Central Depository Company, and National Clearing Company of Pakistan have been instructed by the SECP to enable the seamless listing of PIA Holding Company Limited in accordance with the relevant laws and guidelines.

Business

Pakistan’s gold prices continue to decline.

Published

3 days ago

Farwa

The price of ten grams of 24 carat gold dropped by Rs 1,201 to Rs 205,418 from Rs 206,619, while the price of ten grams of 22 carat gold dropped to Rs 188,300 from Rs 189,400, according to the All Sindh Sarafa Jewellers Association.

Silver, priced at Rs. 2,620 per tola and Rs. 2,254.80 per ten grams, stayed at that level. As reported by the organization, the price of gold dropped by $11 on the global market, to $2,297 from $2,308.

Business

Price of LPG “slashed” by Rs. 20 per kilogram

Published

3 days ago

Farwa

Sources claim that LPG rates have been lowered by Rs 20, making the cost per kilogram drop from Rs 280 to Rs 260.

It is noteworthy to remark that the costs of LPG were reduced by Rs 20 per kilogram earlier, resulting in a total reduction of Rs 40 per kilogram within a few weeks.

The price of liquefied petroleum gas for the month of May 2024 was lowered by the Oil and Gas Regulatory Authority (OGRA) on April 30.

The LPG tariffs were lowered by Rs 11.88 to Rs 238.46 per kilogram in accordance with the OGRA’s notice. On Wednesday, May 1, 2024, the new rates will go into effect.

In April of last year, the price per kilogram of LPG was Rs 250.34. pricing reduction of Rs 140.18 has resulted in a new pricing for home LPG cylinders set for May 2024 of Rs 2813.85.

The OGRA reported a drop in liquefied petroleum gas pricing in April. The price of LPG is now Rs 250.34 per kg instead of Rs 256.78 due to a reduction of Rs 6.44 per kg.

The price of the household cylinder was fixed at Rs 2954.03 for the month of April, down from Rs 3030.12, a decrease of Rs 76.9.