Category: Business

Business news from Pakistan

Finance Minister commends WB’s blueprint to propel Pakistan to High Middle-Income status

  WASHINGTON, Apr 19 (APP):Federal Minister for Finance and Revenue on Friday appreciated the World Bank’s Thought Leadership and its insightful report titled “From Swimming in the Sand to High and Sustainable Growth,” giving a clear roadmap for propelling Pakistan to a High Middle-Income country. He expressed these views while attending the “Roundtable on Implementing… Continue reading Finance Minister commends WB’s blueprint to propel Pakistan to High Middle-Income status

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Pakistan’s total liquid foreign reserves reach $ 13.37 billion

KARACHI, Apr 18 (APP):The total liquid foreign reserves of Pakistan reached US$ 13,373.7 million while foreign reserves held by State Bank stood at $ 8,054.7 million in the week ended on April 12, 2024. State Bank of Pakistan, in a statement issued here on Thursday, informed that foreign exchange reserves held by the central bank… Continue reading Pakistan’s total liquid foreign reserves reach $ 13.37 billion

Prudent policies, reforms poised to result in sustainable economic growth: Governor SBP

KARACHI, Apr 18 (APP):Governor State Bank of Pakistan (SBP) Jameel Ahmed highlighting country’s substantial improvements in macroeconomic outlook hoped that time bound reforms will put the economy on the path of sustainable economic growth. Governor SBP expressed the views during his meetings with key international investors during multiple events organized by leading global banks and… Continue reading Prudent policies, reforms poised to result in sustainable economic growth: Governor SBP

Mobilink Bank registers solid start to year by doubling its revenue in Q1 2024

ISLAMABAD, Apr 18 (APP):Pakistan’s leading digital microfinance institution, Mobilink Bank, has reported a staggering 97% increase in revenue during Q1 2024 compared to the same period last year, marking a powerful start to the year.  The Bank’s Profit before Tax (PBT) also witnessed 110% growth, said a news release. The substantial increase in the revenue… Continue reading Mobilink Bank registers solid start to year by doubling its revenue in Q1 2024

PSX loses 43 points

ISLAMABAD, Apr 18 (APP):The 100-Index of the Pakistan Stock Exchange (PSX) on Thursday lost 43.20 points, a slight negative change of 0.06 percent, closing at 70,290.12 points against 70,333.32 points the previous trading day. A total of 440,314,409 shares valuing Rs.24.362 billion were traded during the day as compared to 442,096,653 shares valuing Rs.16.034 billion… Continue reading PSX loses 43 points

Rupee sheds 04 paisa against dollar

ISLAMABAD, Apr 18 (APP):Pakistani Rupee on Thursday depreciated by 04 paisa against the US dollar in the interbank trading and closed at Rs278.43 against the previous day’s closing of Rs278.39. However, according to the Forex Association of Pakistan (FAP), the buying and selling rates of the dollar in the open market stood at Rs277.5 and… Continue reading Rupee sheds 04 paisa against dollar

FPCCI waives off 50% membership fee of women chambers

ISLAMABAD, Apr 18 (APP):The Federation of Pakistan Chamber of Commerce and Industry (FPCCI) on Thursday announced waiver off 50% membership fee for women chambers. President FPCCI Atif Ikram Sheikh in a statement issued here said that the country and society cannot progress without the full role of women, adding the initiative of reducing membership fee… Continue reading FPCCI waives off 50% membership fee of women chambers

Washington Talks: Finance Minister eyes crucial new IMF deal in June

WASHINGTON, Apr 18 (APP): As an International Monetary Fund’s (IMF) nine-month Standby Arrangement (SBA) edges towards completion, Pakistan has commenced discussions with the financial institution to secure a new deal, aimed at stabilizing the national economy. “Pakistan expects an IMF mission to visit in May and would like to reach a staff-level agreement on its… Continue reading Washington Talks: Finance Minister eyes crucial new IMF deal in June

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Aurangzeb calls for robust financial safeguards against climate vulnerabilities

  ISLAMABAD, Apr 18 (APP):In a high-profile meeting held at the sidelines of the IMF/World Bank 2024 Spring Meetings in Washington DC, Federal Minister for Finance and Revenue, Muhammad Aurangzeb emphasized the need for a robust financial safety net and capacity building to address geo-economic impacts and climate vulnerabilities. Speaking at the Middle East, North… Continue reading Aurangzeb calls for robust financial safeguards against climate vulnerabilities

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KP Govt decides to establish Gem Processing & Export Centre

PESHAWAR, Apr 18 (APP):The government of Khyber Pakhtunkhwa has decided to develop gemstone sector as formal export sector and for this purpose the gemstone cluster at Namak Mandi would be develop in the shape of Gems Processing & Export Centre. The Gem Export Center will be redesigned and shifted to a spacious and suitable building… Continue reading KP Govt decides to establish Gem Processing & Export Centre

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