Briefs

SMEs disappointed with budget

News Desk

KARACHI: Union of Small and Medium Enterprises (Unisame) president Zulfikar Thaver has termed the budget mediocre and said that it is high time that the government should start consulting experts, a statement said on Saturday.  “I am not surprised, as the budget comes from an accountant and not an economist. Can anyone pinpoint the relief for the common man," he added.  Thaver lamented no support for the SME sector. Some relief has been given to the farm sector, but basically the expectations were for reduction in duties on raw materials and subsidy for renewable energy.

Haleeb cuts milk prices in Ramazan

News Desk

KARACHI: Haleeb Foods has announced reduction in the price of its one litre and 250ml packaged milk to facilitate the people during the holy month of Ramazan, a statement said on Saturday.  Haleeb believes that it is the consumers’ basic right to get quality product at an affordable price and this need intensifies in Ramazan when people fast all day, it added.  The consumption of milk increases considerably in this holy month, as people need to give themselves sufficient energy for the whole day’s fasting, the statement said.  Announcing the Ramazan relief package, Haleeb Foods marketing director Mansoor Nawaz said, “We want to make our fellow countrymen believe that we just don’t want to make profits, but we care about them and want to facilitate them for having healthy diet in the month of Ramazan.”

UK, US reaffirm trade commitment

LONDON: British Prime Minister Theresa May and U.S. President Donald Trump renewed their commitment to increase trade between the two countries during a meeting at the G7 summit in Italy, May's spokesman said.  "The president and the prime minister reaffirmed their commitment to increasing trade between the UK and the U.S., including a post-Brexit trade deal," the spokesman said.

Point of View

Sireen Harajli

The (US) GDP figure was a pleasant surprise. I don’t think markets were looking for a revision this big

—FX strategist at Mizuho in New York

Rupee may remain flat

By our correspondent

The rupee is likely to maintain the current levels against the dollar next week, analysts said on Saturday.“A persistent slowdown in the dollar demand from importers and companies may help the rupee trade in between 104.84 and 104.88 in the interbank dealings,” an analyst said.  The rupee didn’t show any change in its value over the previous week. It was traded at 104.86/88 during the outgoing week.