ISLAMABAD: The federal and provincial governments have agreed on a recommended list for reopening the businesses and trade activities amid coronavirus crisis, ARY News reported on Monday. The participants of the NCC meeting held the chair of Prime Minister Imran Khan took important decisions regarding the ongoing lockdown situation across the country besides holding discussion over the surge of COVID-19 cases.

Oil prices fell nearly 1% on Monday as traders hedged bets with the Organization of the Petroleum Exporting Countries (OPEC) considering meeting as soon as this week to discuss whether to extend record production cuts beyond end-June. Brent crude LCOc1 fell 34 cents to $37.50 a barrel, in the first day of trading in the contract with August as the front month.

DADU: The officials of the Sindh Food department on Monday recovered 2,000 wheat sacks in Dadu, ARY News reported. The bags were concealed in five trucks, which were recovered by the officials during raid. It could not be established that where the wheat bags were being transported. Earlier on May 1, the Sindh government had decided to seal its border with Balochistan, in a bid to stop wheat smuggling from the province.

KARACHI: The United States (US) dollar continued its gains against the Pakistani rupee at the start of week?s trading on Monday, ARY News reported. According to currency exchange dealers, the greenback registered further gains of Rs0.30 to reach Rs163.40 by 11:30 am in the interbank market. Read More: US dollar surges by Rs1.12

ISLAMABAD: Petroleum prices to go through another significant decrease, new prices to come into effect from tomorrow, ARY News reported. Oil & Gas Regulatory Authority (OGRA) had sent a summary to the government suggesting another slash in petroleum prices which was upheld. Read More: PM Imran directs provinces to bring down prices of essential items after petrol price cut Petrol will now be available for Rs74.52

RIYADH: The Saudi Arabian Monetary Authority (SAMA) expects a negative impact from the COVID-19 pandemic and the resulting global recession on the Saudi economy, amid the slump in oil prices and low demand due to suspension of travel and economic activities. A statement of Saudi central bank carried by the state news agency Saudi Gazette, said that however, the negative impact would likely be mitigated by the strong measures taken by various Saudi authorities.

ISLAMABAD: Federal Board of Revenue (FBR) on Sunday issued details of tax collection by the month of May during the ongoing fiscal year 2019-20, ARY NEWS reported. According to details, the FBR collections in terms of taxes and duties witnessed a 7.7 percent increase by the month of May as compared to the same period of the previous fiscal year.

QUETTA: Former senator Javed Jabbar has announced his resignation from the 10th National Finance Commission (NFC), ARY News reported. Balochistan Chief Minister Jam Kamal Alyani had nominated him as non-statutory member from Balochistan to the 10th NFC that President Dr Arif Alvi constituted vide a notification put out on May 12.

KARACHI: Sindh government has finalised strategy and recommendations regarding lockdown restrictions in the province amid the Covid-19 pandemic, ARY News reported on Sunday, citing sources. According to recommendations prepared by the provincial government, Sindh has decided to partially resume inter-city public transport and to increase business hours of markets, shopping malls from 5pm to 8pm.

Photo: File The Asian Development Bank (ADB) on Friday said Pakistan?s growth prospects with ongoing International Monetary Fund (IMF)-backed reforms are aimed at fiscal consolidation and development initiatives to uphold economic stability, reported The News. In its latest country factsheet, ADB said reforms initiated by IMF?s stabilisation program along with projects under the Central Asia Regional Economic Cooperation Program, the China-Pakistan Economic Corridor, and other development initiatives ?will continue to influence Pakistan?s growth prospects?.