Pakistan bourse remains bearish, as KSE-100 Index losses 257.67 points amid profit-taking

KARACHI: The Pakistan equity market witnessed profit-taking in the overbought market, as the investors remained concerned over surge in the Pakistan Investment Bond (PIB) yields by up to 246bps, weak global equities and slump in the global crude oil prices, dealers said. –JAVED MIRZA

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Current pay and pension model unsustainable: Tarin

ISLAMABAD: The current model for pay and pension in the government departments is unsustainable and there is a need to rationalise the salaries, allowances, perks, etc, on the basis of performance and quality work, a senior official said on Tuesday. –HAMZA HABIB

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FBR registers impressive revenue growth of 36.5% in five months

ISLAMABAD: The Federal Board of Revenue (FBR) witnessed another period of robust growth, as the apex tax body collected net revenue of Rs2.314 trillion during the first five months (July-November) of the current financial year 2021/22, exceeding the target of Rs2.016 trillion by Rs298 billion. –HAMZA HABIB

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LPG prices reduced Rs14.3/kg to Rs202.5/kg

KARACHI: The Oil and Gas Regulatory Authority (Ogra) has notified Rs14.3/kg reduction in the prices of indigenous liquid petroleum gas (LPG) to Rs202.5/kg for December 2021. –JAVED MIRZA

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EFP endorses IMF’s narrative on govt borrowing

KARACHI: The Employers’ Federation of Pakistan (EFP) endorses the International Monetary Fund’s (IMF) narrative that the government should not borrow from the central bank, a statement said on Tuesday. –SHAHNAWAZ AKHTER

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Senior IR official dismissed on corruption charges

KARACHI: The Federal Board of Revenue (FBR) has dismissed a senior officer of Inland Revenue on the charges of corruption and misconduct. –SHAHNAWAZ AKHTER

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Gas crisis, huge taxes termed a threat to exports

KARACHI: The Federation of Pakistan Chambers of Commerce and Industry (FPCCI) has urged the government to take effective measures to overcome the gas crisis and ensure uninterrupted supply to industries, as well as reduce electricity tariffs, a statement said. –LATIFUR REHMAN

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Double taxation, high cost of doing business big challenges: LCCI

LAHORE: Double taxation, high cost of doing business and the lack of infrastructure in the market were big challenges, an official said. –IQTIDAR GILANI

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LCCI, MCCI to jointly promote trade

LAHORE: The Lahore Chamber of Commerce and Industry (LCCI) and the Multan Chamber of Commerce and Industry (MCCI) have agreed to make joint efforts for the promotion of trade and industry, a statement said. –IQTIDAR GILANI

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Supernet and Paksat sign strategic partnership

KARACHI: Supernet signed a strategic partnership with Paksat international to expand existing relationships, a statement said on Monday. –LATIFUR REHMAN

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FPCCI concerned over ECO’s minimal intraregional trade share

KARACHI: The Federation of Pakistan Chambers of Commerce and Industry (FPCCI) has expressed his dissatisfaction over the fact that the 10-country alliance of the Economic Cooperation Organization (ECO) has an intraregional trade share of only 8 per cent, whereas, the border and land-based trade accounts for more than 70 per cent among the geographically contiguous countries and regional alliances. –SHAHNAWAZ AKHTER

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Businessmen urge govt to curb inflation

KARACHI: The Union of Small and Medium Enterprises (Unisame) has urged the government to control inflation by keeping a check on profiteering and hoarding by the big investors, a statement said on Tuesday. –LATIFUR REHMAN

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Rupee gains 48 paisas against dollar

KARACHI: The rupee rebounded on Tuesday and gained 48 paisas against the dollar in the interbank foreign exchange market, dealers said. LATIFUR REHMAN

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Auto parts importers demand tax rationalisation

KARACHI: An automobile association has urged the Karachi Chamber of Commerce and Industry (KCCI) to support their demand of rationalising the duty structure on auto parts, a statement said on Tuesday. –LATIFUR REHMAN

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Double taxation, high cost of doing business big challenges: LCCI

LAHORE: Double taxation, high cost of doing business and the lack of infrastructure in the market were big challenges, an official said. –IQTIDAR GILANI

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APCNGA rejects closure of CNG filling stations in Sindh

KARACHI: The All Pakistan CNG Association (APCNGA) has rejected the decision of the Sui Southern Gas Company (SSGC) to close compressed natural gas (CNG) filling stations for two-and-a-half months from December 1 to February 15, a statement said.

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