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Monday February 19th 2018

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Constitutional reforms to clip judiciary’

Constitutional reforms to clip judiciary’

BUREWALA – Pakistan Tehrik-e-Insaf Chief Imran Khan has maintained that President Ali Zardari was pursing a persistent course of tussle with superior judiciary and wanted to dislodge the institution through constitutional reforms. Moreover, Nawaz Sharif’s U-turn on constitutional reforms is aimed at strengthening ruling class and his friendly [...]

Customs revises ITP of steel products

Customs revises ITP of steel products

KARACHI: After protracted negotiations with steel importers and traders, customs has finally reset the import trade price (ITP) of various steel products, effective from the previous date March 11, 2010, importers said. They said, now the ITP revised for local importers is said to have a net price impact of Rs 2500-4000. They said that the [...]

SM incurs Rs5.62 bln loss in 2009-10

SM incurs Rs5.62 bln loss in 2009-10

ISLAMABAD: Pakistan Steel Mills (PSM) incurred a colossal loss of over Rs5.62 billion during July 2009 to January 2010, National Assembly was told here on Wednesday. Minister of State for Industry and Production, Ayatullah Durrani told the Parliamentarians during the question hour that the reason for the heavy loss was the increase in the [...]

Steel bar price shoots up

Steel bar price shoots up

Islamabad—Mild steel bar - one of the basic input of construction industry, shot up by Rs4,000 per ton on Monday. The mild steel bar prices have been jacked up to 64,000 from 60,000 per ton after the Pakistan Steel (PS) has raised its billet price by Rs 4,000 per ton, Geo News reported. Steel dealers pointed out that the retail prices of [...]

Pakistan Must Strengthen Relations With Russia

Pakistan Must Strengthen Relations With Russia

Changing geopolitical realities demand that Pakistan should broaden its foreign policy base. March 22, 2010, Axis of Logic - Pakistan and the former Soviet Union have followed a roller coaster model in their relations, oscillating between ‘cordial’ to ‘hostile’, for several decades before the latter collapsed. They both realized the need [...]

Imposition of 15% VATM

Imposition of 15% VATM

ISLAMABAD: Already hit hard by the economic recession, the construction sector of the country is likely to face a huge burden of 15 percent value-added tax (VAT) on development of land for residential and commercial purposes. The sector will also face 15 percent VAT on import and supply of bricks, blocks and construction machinery. The steel [...]

‘It’s the economy, stupid’

‘It’s the economy, stupid’

Finally, Dr Abdul Hafeez Sheikh, a dark horse, has accepted the coveted job of adviser to the prime minister on finance, revenue and economic affairs. Better late than never, Pakistan finally has a finance minister. After the initial flurry to find Mr Shaukat Tarin's successor there seemed little sense of urgency to fill the most important [...]

PSM asks govt to arrange $2.2bn for capacity expansion

PSM asks govt to arrange $2.2bn for capacity expansion

ISLAMABAD: Pakistan Steel Mills (PSM) has sought the government’s help for arranging $2.2 billion fund for its existing plants’ revamping and capacity expansion to five million tons with the techno economic assistance of Russia and China, ‘The News’ has reliably learnt. The PSM, which is Pakistan’s largest industrial entity, currently [...]

Gravely sick Pakistan Steel being set up for a grab

Gravely sick Pakistan Steel being set up for a grab

Tales of corruption, mismanagement, loot and plunder in the Pakistan Steel Mills (PSM) are far more serious than what is believed or has been reported in the media. The gravely sick organisation has shown losses of Rs29 billion in the year July 08 to June 09 and another Rs11 billion during the first eight months of 2009-10 whereas its immediate [...]

Rebar price shoots up in Pakistan

Rebar price shoots up in Pakistan

APP reported that steel bar shot up by PKR 4,000 per tonne on Monday. As per report, the mild steel bar prices have been jacked up to 64,000 per tonne from 60,000 per tonne after the Pakistan Steel has raised its billet price by INR 4,000 per tonne. Steel dealers pointed out that the retail prices of billet made mild steel bars have been [...]

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