Category: Business

Business news from Pakistan

Karandaaz, MOPASS join hands to advance financial inclusion

ISLAMABAD, Oct 19 (APP):Karandaaz Wednesday signed a Memorandum of Understanding (MoU) with Ministry of Poverty Alleviation and Social Safety (MOPASS) to advance financial inclusion in Pakistan. The MOU signing ceremony took place at MOPASS here and was chaired by Secretary MOPASS, Dr. Muhammad Fakhre Alam Irfan, CEO Karandaaz, Waqas ul Hasan, and Senior Program Officer… Continue reading Karandaaz, MOPASS join hands to advance financial inclusion

Food exports surge by 5.70% in Q1 FY23

The exports of various food commodities were recorded at $1,077.834 million during July-September (2022-23) as compared to the exports of $1,019.676 million in July-September (2021-22), according to PBS data. The food commodities that contribute in positive growth in trade included vegetables, the exports of which grew by 44.34 percent, from $50.082 million to $72.289 million.… Continue reading Food exports surge by 5.70% in Q1 FY23

Big industry grows by 0.6 percent in August

The production of Large-Scale Manufacturing Industries (LSMI) witnessed a growth of 0.6 percent on year-on-year (YoY) basis during the month of August 2022 compared to the same month of last year. According to latest data released by Pakistan Bureau of Statistics (PBS) here Wednesday, the LSMI index went up from 114.1 points in August 2021… Continue reading Big industry grows by 0.6 percent in August

Meeting reviews preparations for 11th CPEC JCC

ISLAMABAD, Oct 18 (APP): Minister for Planning Development and Special Initiatives Professor Ahsan Iqbal on Tuesday reviewed progress over the upcoming 11th meeting of Joint Cooperation Committee (JCC) on China Pakistan Economic Corridor (CPEC) to be held by the end of this month. The meeting was attended by Secretary Planning Commission, Secretary Communication, Executive Director… Continue reading Meeting reviews preparations for 11th CPEC JCC

PSX turns around to bullish trend, gains 83 points

ISLAMABAD, Oct 18 (APP):The 100-index of the Pakistan Stock Exchange (PSX) turn around to bullish trend on Tuesday, gaining 83.82 points, a positive change of 0.20 percent, closing at 41,839.27 against 41,755.45 points on the last working day. A total of 190,311,688 shares were traded during the day compared to 144,312,641 shares the previous day,… Continue reading PSX turns around to bullish trend, gains 83 points

Textile exports increase by 3.68% to $4.58 billion in Q1

ISLAMABAD, Oct 18 (APP):The exports of textile goods increased by 3.68 percent during the first Quarter (Q1) of the current fiscal year as compared to the corresponding period of last year. The textile goods’ exports were recorded at $4,583.610 million in July-September (FY2022-23) against the exports of $4,420.883 million in July-September (FY2021-22), showing growth of… Continue reading Textile exports increase by 3.68% to $4.58 billion in Q1

Housing Ministry demands Rs 9,179 million for year 2022-23

ISLAMABAD, Oct 18 (APP):Ministry of Housing and Works has demanded the grant of a sum of Rs 9,179 million to meet the requirements of the ministry and attached departments for the current fiscal year 2022-23. However, Finance Division has allocated a sum of Rs5,915 million as per the austerity measures for the current financial which… Continue reading Housing Ministry demands Rs 9,179 million for year 2022-23

OICCI for heavy penalties on IPR breach

KARACHI, Oct 17 (APP): Overseas Investors Chamber of Commerce and Industry (OICCI) – the collective body of over 200 top foreign investors, has recommended a substantial increase in penalties to ensure Intellectual Property Rights (IPR) protection which is imperative to attract foreign direct investment in high-value research-based products and services in Pakistan. Sharing the results… Continue reading OICCI for heavy penalties on IPR breach

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ECC approves Rs20.2 bln for SAP, flood-hit farmers

ISLAMABAD, Oct 17 (APP):The Economic Coordination Committee (ECC) of the cabinet here on Monday approved technical supplementary grants (TSGs) of Rs20.2 billion for Sustainable Development Goals Achievement Program (SAP) and flood-effected farmers. The meeting of the cabinet committee was presided virtually over by Federal Minister for Finance and Revenue, Senator Mohammad Ishaq Dar, according to… Continue reading ECC approves Rs20.2 bln for SAP, flood-hit farmers

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Govt to complete all CPEC projects without delay: Ahsan Iqbal

ISLAMABAD, Oct 17 (APP):Minister for Planning Development and Special Initiatives Ahsan Iqbal Monday said that the incumbent government was committed to complete all the projects being executed under China Pakistan Economic Corridor (CPEC) without any delay. The minister gave the assurance to the Chinese Ambassador to Pakistan Nong Rong who called on him here today.… Continue reading Govt to complete all CPEC projects without delay: Ahsan Iqbal

Currency rates of NBP

KARACHI, Oct 17 (APP):Following are the selling/buying rates Of major currencies issued by the National Bank of Pakistan (NBP), here on Monday. CURRENCY SELLING BUYINGUSD 221.14 216.27GBP 248.20 242.71 EUR 215.28 210.96JPY 1.4866 1.4538 SAR 58.89 57.52AED 60.22 59.27

Public debt to GDP ratio to fall to 71.7% in FY23: WB

ISLAMABAD, Oct 17 (APP):Pakistan’s public and publicly guaranteed debt to GDP ratio is expected to fall gradually in the upcoming years from 78% recorded at the end of Fiscal Year 2021-22 (FY22) to 71.7% in FY23 and 71.9% in FY24, said a report recently published by the World Bank. “At the end of FY22, public… Continue reading Public debt to GDP ratio to fall to 71.7% in FY23: WB

Dar urges diaspora to take advantage of IT sector’s investment potential

ISLAMABAD, OCTOBER 17 (APP): Federal Minister for Finance and Revenue, Senator Mohammad Ishaq Dar apprised the Pakistani-American IT/Tech entrepreneurs that government was according priority attention to IT/ Tech sector to tap its true potential. In a virtual meeting the entrepreneurs along with Minister for Economic Affairs, Ayaz Sadiq, the finance minister said that the country’s… Continue reading Dar urges diaspora to take advantage of IT sector’s investment potential

Dar calls for greater policy support from IMF, donors

ISLAMABAD, Oct 16 (APP): Federal Minister for Finance and Revenue, Senator Mohammad Ishaq Dar has called for greater policy support from the International Monetary Fund (IMF) and multilateral donors in the backdrop of the climate-induced catastrophe and losses suffered by the country. The minister was addressing a meeting of MENAP (Middle East, North Africa, Afghanistan,… Continue reading Dar calls for greater policy support from IMF, donors

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Govt keeps POL prices unchanged

ISLAMABAD, Oct 15 (APP): The government has kept prices of various petroleum products unchanged for next fortnight, till October31st, Federal Minister for Finance and Revenue, Mohammad Ishaq Dar announced Saturday. In his video message from Washington, the minister said the finance ministry had received a summary from Oil and Gas Regulatory Authority (OGRA), proposing a… Continue reading Govt keeps POL prices unchanged

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