ISLAMABAD: The Oil and Gas Regulatory Authority (OGRA) has made a major reduction in prices of Re-gasified Liquefied Natural Gas (RLNG) for the month of June 2020, ARY News reported on Sunday. The price of per MMBtu (Million British Thermal Unit) of imported RLNG has been reduced up to $1.38

Up to 242 million jobs will be lost due to the virus that has battered the world economy, the Asian Development Bank said. ? AFP/Files MANILA: The coronavirus pandemic could cut up to 9.7% off the global economy, the Asian Development Bank said Friday, doubling its previous estimate as the virus stifles trade and leaves millions jobless.

Japan, the world's third-largest economy shrank 0.9% in the January-to-March period compared to the prior quarter. Photo: AFP The Japanese economy slipped into recession for the first time in four and half years, shrinking by 0.9% in the first quarter as it continues to wrestle with the fallout from the coronavirus pandemic.

PESHAWAR: Khyber Pakhtunkhwa (KPK) Adviser for Information and Public Relations Ajmal Wazir on Tuesday said that all retail shops across the province will remain during the Eid days, ARY News reported. Addressing a press conference in Peshawar, Ajmal Wazir said the decision was taken in the light of the Supreme Court of Pakistan orders.

ISLAMABAD: Adviser to Prime Minister on Finance Abdul Hafeez Shaikh on Wednesday chaired a meeting of Economic Coordination Committee (ECC) and approved a Rs 75 billion relief package for labourers, ARY NEWS reported. Around six million low-income labourers will be provided Rs 12,000 under a new category of Ehsaas programme to be named as ‘Mazdoor ka Ehsaas Programme’.

LAHORE: Punjab Chief Minister Punjab Usman Buzdar on Saturday said the provincial government has announced splendid packages for the construction industry in order to increase employment opportunities amid the Covid-19 pandemic. In a statement, CM Buzdar said one-window service system has been introduced for approval of maps and construction of buildings.

All Karachi Tajir Ittehad has categorically refused to abide by standard operating procedures (SOPs) set forth by Sindh Government with regards to online businesses, ARY News reported on Saturday. The traders and businessmen community has claimed that the new orders will only favour 5% of the community and the rest will continue to bear losses.

The International Monetary Fund plans on giving Pakistan $1.4 billion next week "to boost its foreign exchange reserves and get some budgetary support in the wake of the economic slowdown due to the coronavirus pandemic", Arab News reported on Wednesday. According to the publication, the government had last month, requested the international lender to consider giving it "a low-cost, fast-disbursing loan under the fund?s Rapid Financing Instrument (RFI) to deal with the adverse economic impact of COVID-19".

Sources said oil companies may declare higher sales at lower price in back dates in order to avoid or evade sales tax. Photo: File KARACHI: The Federal Board of Revenue (FBR) officials have shared that it has started stocktaking of oil marketing companies in view of the sudden sharp increase in petroleum products' prices.

ISLAMABAD: The meeting of Federal Cabinet’s Economic Coordination Committee (ECC) on Wednesday approved Rs2.5 billion Ramazan Relief Package, ARY News reported. Adviser to the Prime Minister on Finance and Revenue Dr Abdul Hafeez Shaikh presided over the all-important meeting. Read More: OGRA slashes RLNG rates by up to $1.81 The ECC also approved tax-free transactions of government’s flagship welfare project Ehsaas Program till June 30.