KARACHI, Jun 27 (ABC): Decline in tea import reflects that Pakistanis have trimmed down tea consumption in July-May 2021-22, showing 2 percent decrease in import of the commodity in the country. During 11 months of the Fiscal Year 2021-2022, in terms of quantity, 234,062 metric ton tea was imported that is slightly less then 238,941 M.T import of July-May 2020-21, …

KARACHI, June 27 (ABC): Gold recovered its shine once again in Pakistan after it gained Rs850 per tola on Monday in line with the international market prices as the US currency strengthened further against the rupee. The price per tola gold settled at Rs141,850, while with an increase of Rs729 per 10 grams, the price settled at Rs121,614. Meanwhile, in …

ISLAMABAD, Jun. 27 (ABC): Chinese firms HanGeng Agricultural Group and China Machinery Engineering Corp(CMEC) are exploring the agriculture and livestock sectors of Khyber-Pakhtunkhwa (KP) province for possible investment, according to report. This was stated by KP Board of Investment and Trade (KP-BOIT) CEO Hassan Daud while talking. HanGeng Group is developing an agricultural industrial park in Gwadar Free Trade Zone …

ISLAMABAD, Jun. 27 (ABC):  The introduction of a wholesale electricity market in Pakistan will attract more Chinese investment in the renewable energy sector of the country, an investment expert told. National Electric Power Regulatory Authority (NEPRA) on June 6 awarded market operator license to Central Power Purchasing Authority-Guarantee (CPPA-G) under the Competitive Trading Bilateral Contract Market (CTBCM) initiative. The new …

ISLAMABAD, Jun 27 (ABC): As the Government strives to make transformational changes in the power system by exploring affordable alternative energy sources, Chinese companies are playing a leading role as installers and service providers for on-grid, off-grid, and hybrid energy in the country. According to report, alternative Energy Development Board (AEDB), Ministry of Energy ─besides its main objective to facilitate, …

ISLAMABAD, June 27(ABC): Already overburdened by inflation, increased oil prices, food items, Pakistanis were in for a shock as prices of LPG has been hiked by Rs10 per kg. After the increase price of LPG has reached Rs210 per kg across the country. The price of LPG commercial cylinder has increased by Rs455 and reached Rs9,532, while the domestic cylinder …

HONG KONG, June 27(ABC): Asian markets rallied again Monday, building on last week’s advances and following a strong performance on Wall Street as speculation that inflation may have peaked tempered expectations about central bank interest rate hikes. With prices surging at a pace not seen in a generation, finance chiefs have been forced to lift borrowing costs and wind back …

HONG KONG, June 27(ABC): Asian markets rallied again Monday, building on last week’s advances and following a strong performance on Wall Street as speculation that inflation may have peaked tempered expectations about central bank interest rate hikes. With prices surging at a pace not seen in a generation, finance chiefs have been forced to lift borrowing costs and wind back …

MUZAFFARABAD, June 25(ABC): The 2022-23 budget for Azad and Jammu Kashmir (AJK) with a total outlay of over Rs163 billion was tabled in the legislative assembly. Finance Minister AJK Abdul Majid Khan presented the first budget of the Pakistan Tehreek-e-Insaf (PTI) led government in AJK. The government has allocated a total development budget of Rs28.50 billion, an increase of over …

KARACHI, June 25(ABC): The Pakistan Stock Exchange (PSX) endured a tumultuous trading week as a combination of encouraging and discouraging news led to market fluctuation between red and green zones. Consequently, the market closed at 41,052 points, down by 1,089 points (or 2.58%) during the week ended June 24. The market commenced the rollover on a negative note due to …