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Bahria Town, Hyatt Hotels sign deal for building Hyatt hotels in Pakistan

Bahria Town, Pakistan’s largest real estate developer has signed in deal with  Hyatt Hotels for building four Hayatt branded hotels in Pakistan. The step by Bahria Town is yet another initiative to promote tourism and hospitality sector in Pakistan. With an investment of over $600 million,  four Hayatt branded hotels will …

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Alto to replace Mehran in Pakistan by 2018, announces Pak Suzuki

Pak Suzuki has announced it plans for paying bid adieu to iconic 800cc Mehran. The local production of Suzuki Alto 660cc will be replacing by 2018. Pak Suzuki shared the information with the Senate Standing Committee on Industries and Production upon their visit to the production area of Pak Suzuki …

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Q Connect, Pakistan’s first 5-star bus service starts journey

As the current government is quite focused about the infrastructure, here is another good news for the travelers, Pakistan’s first 5-star bus services has commenced its operations, and initially they are on Lahore-Islamabad route, and with a promising start they are also eying to kick off their services for Karachi …

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Fuel prices may hike up to Rs5.6 per liter in April

ISLAMABAD:Fuel prices are may be hike up to Rs5.64 per liter due to increase in international market of crude oil prices, private media reported.  

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Dutch company to buy Engro Foods Ltd for around $460 million

ISLAMABAD: A Dutch dairy cooperative is set to buy out a Pakistani food company with an investment of around $460 million, if it happens, it will be largest private sector takeover by a foreign firm in the Pakistan’s history. FrieslandCampina International Holding BV intends to acquire a 51 per cent …

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Pakistan leading South Asia in ‘Mobile Money’: World Bank Report

Pakistan is leading in ‘Mobile Money’ as the people using mobile phone to transfer money more than any country of South Asia, World Bank report revealed. World Bank’s Global Finder Database initiated the study, which gives insight about how people borrow, save, manage risks and make payment, told that an …

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Tax collection increased by 18.2 percent in last six months, says Ishaq Dar

ISLAMABAD: Finance Minister Ishaq Dar on Saturday said that Tax collection increased by 18.2 percent during six months, Radio Pakistan reported. Addressing at news conference, Finance Minster Ishaq Dar said Federal Board of Revenue (FBR) collected 785 billion rupees during the period as against the set target of 70 billion …

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$497 tranche for Pakistan approved by IMF

ISLAMABAD: The International Monetary Fund (IMF) on Thursday approved $497 million tranche for Pakistan after the review of a bailout package started in 2013. “After constructive discussions, the mission and the Pakistani authorities have reached stafflevel agreement on the completion of the tenth review under the EFF (Extended Fund Facility) …

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Orga suggests Rs7.56 cut in petrol prices for February

ISLAMABAD: As prices of Crude oil goes down in the international market, Oil & Gas Regulatory Authority (Ogra) on Thursday suggested cut in oil prices, including Rs7.56 per liter reduction in petrol prices. Recommendations sent to the Petroleum Ministry, Ogra advised cuts in the diesel, high-octane , kerosene and petrol …

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Inauguration of Bahira Town Icon Karachi postponed till coming Monday

KARACHI: The inauguration of Bahira Town icon Karachi postponed till coming Monday, official FB page stated. According to the news, 90 percent on 62- stoery ‘Icon Tower’ has been completed. Chairman Bahira Town, Malik Riaz also said that 90 percent work of the ‘Icon Tower’ has been completed. After that …

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Government borrowed $1.42b during last three months: DAR told Senate

ISLAMABAD: Ishaq Dar on Wednesday said that government has received loan of US$ 1,420.38 million during the last three months. Dar revealed the facts on the question of MQM’s Senator Syed Tahir Hussain Mashhadi, who asked,” Will the Minister of Finance, Revenue, Economic Affairs, Statistics and Privatization be pleased to …

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National Savings to launch ‘Registered Prize Bonds’ in Pakistan

ISLAMABAD: The National Savings has officially announced to launch Registered Prize Bonds in Pakistan on the decree of the Ministry of Finance. The registered bonds are being launched to generate more funds for the federal government. The Ministry of Finance has approved launching of Registered Prize  Bonds by the National …

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FBR surpasses target of 2nd quarter for year 2015, collected 785bn

ISLAMABAD: Federal Board of  Revenue (FBR) has collected around 758 billion rupees against the target of 750 billion rupees which was set for the second quarter of the current fiscal year, Radio Pakistan reported on Monday. “Target for the second quarter from October to December of current financial year has …

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2nd Quarter of FY 2015-16: Pakistan’s revenue collection target surpassed

The set target of revenue collection for the second quarter of 2015 fiscal year has been surpassed as the Tax authorities confirmed. The Federal Board of Revenue (FBR) has provisionally bagged Rs770 billion, surpassing the set target for October-December of Rs750 billion. As said spokesperson Dr Mohammad Iqbal, FBR has …

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