PTI govt ignored CPEC project: Ahsan Iqbal

APP71-29 ISLAMABAD: November 29 Interior Minister Ahsan Iqbal addressing a press conference at PID Media Centre. APP photo by Irshad Sheikh

ISLAMABAD, Apr 22 (APP):Minister for Planning, Development and Special Initiatives Ahsan Iqbal Friday said that the previous government of Pakistan Tehreek-i-Insaaf (PTI) failed to complete the projects under China Pakistan Economic Corridor (CPEC) by the dates agreed between the Chinese side and PMLN government. Addressing media here the minister said that the PMLN government had… Continue reading PTI govt ignored CPEC project: Ahsan Iqbal

Weekly inflation goes down by 1.28 pc

ISLAMABAD, Apr 22(APP): The Sensitive Price Indicator (SPI) based weekly inflation for the week ended on April 21 for the combined consumption group, witnessed a decrease of 1.28 percent as compared to the previous week. The SPI for the week under review in the above mentioned group was recorded at 171.05 points against 173.27 points… Continue reading Weekly inflation goes down by 1.28 pc

Petroleum sector gets Rs1,949.72 mln funds for 13 projects in nine months

ISLAMABAD, Apr 22 (APP):The government has released funds amounting to Rs1,949.72 million to execute seven ongoing and six new petroleum-related projects during first nine months of the current fiscal year under the Public Sector Development Programme (PSDP 2021-22) against a total allocation of Rs3,249.54 million. Out of the total disbursement of Rs1,949.72 million, around Rs355.39… Continue reading Petroleum sector gets Rs1,949.72 mln funds for 13 projects in nine months

Ahsan Iqbal seeks report over dysfunctional ‘CPEC Center of Excellence’

ISLAMABAD, Apr 21 (APP): Federal Minister for Planning Development and Special Initiatives Professor Ahsan Iqbal on Thursday expressed displeasure over dysfunctionality of the Center of Excellence for China-Pakistan Economic Corridor (CPEC), which was supposed to provide support for CPEC. The minister expressed concerns while chairing a meeting to review a progress on projects initiated under… Continue reading Ahsan Iqbal seeks report over dysfunctional ‘CPEC Center of Excellence’

Gold imports surge by 160% in 3 quarters

ISLAMABAD, Apr 21 (APP): The gold imports increased by 160.03 percent during the three quarters of the current fiscal year as compared to the corresponding period of last year, Pakistan Bureau of Statistics (PBS) reported. The gold imports during July-March (2021-22) were recorded at $15.474 million as compared to the imports of $5.951 million during… Continue reading Gold imports surge by 160% in 3 quarters

FBR launches Inland Revenue Strategic Reform Plan (2021-25)

ISLAMABAD, Apr 20 (APP):The Federal Board of Revenue (FBR) on Wednesday launched Inland Revenue Strategic Reform Plan (2021-25) for modernizing the institutions to enhance the efficiency. Achieving yet another important milestone, FBR has launched Inland Revenue Strategic Reform Plan (2021-25) on April 20, 202 in a simple ceremony held at Islamabad, said a press release… Continue reading FBR launches Inland Revenue Strategic Reform Plan (2021-25)

Fertilizer industry to enable over USD 5.3 billion import substitution

ISLAMABAD, Apr 20 (APP):The local fertilizer Industry is providing urea at around 84 percent discount, equivalent to Rs 9,823 per bag and is expected to enable import substitution of USD 5.3 billion in 2022. Discussing the latest business results and future outlook in first quarter analyst briefing, Imran Ahmed – Chief Financial Officer of Engro… Continue reading Fertilizer industry to enable over USD 5.3 billion import substitution

Govt to restore IMF programme; present people-friendly budget: Miftah Ismail

Finance Minister, Miftah Ismail speaking at Meet the Press at NPC

ISLAMABAD, Apr 20 (APP):Federal Minister for Finance and Revenue, Miftah Ismail said here on Wednesday that the government would make all out efforts to restore the Extended Fund Facility (EFF) programme with International Monetary Fund (IMF). Speaking at ‘Meet the Press’ organized by National Press Club, the finance minister, who was accompanied by Federal Minister… Continue reading Govt to restore IMF programme; present people-friendly budget: Miftah Ismail

Seafood exports increase by 2.04% in 3 quarters

APP04-251121 RAWALPINDI: November 25 - A vendor displaying fishes to attract customers at his shop at Bani Chowk. APP photo by Abid Zia

ISLAMABAD, Apr 20 (APP):The exports of fish and fish preparations increased by 2.04 per cent during the first three quarters of the current fiscal year as compared to the corresponding period of last year. The seafood exports during July-March (2021-22) were recorded at $309.979 million against the exports of $303.782 million in July-March (2020-21), showing… Continue reading Seafood exports increase by 2.04% in 3 quarters

Pakistan earns $1688 million from IT services’ export in 8 months

ISLAMABAD, Apr 20 (APP):Pakistan earned US $1,688.862 million by providing different Information Technology (IT) services in various countries during the first eight months of financial year 2021-22. This shows growth of 29.90 percent as compared to US $1,300.100 million earned through provision of services during the corresponding period of fiscal year 2020-21, Pakistan Bureau of… Continue reading Pakistan earns $1688 million from IT services’ export in 8 months

USC reduces sugar, flour prices

ISLAMABAD, Apr 20 (APP):In order to provide maximum relief to the poor masses across the country the Utility Stores Corporation (USC) has reduced the prices of sugar and flour. The reduction in prices has been made on the orders of the Prime Minister, Shehbaz Sharif, said USC Spokesperson in a statement issued here. he said,… Continue reading USC reduces sugar, flour prices

ECC approves Rs. 68.74 bln for OMCs

ISLAMABAD, Apr 19 (APP):The Economic Coordination Committee (ECC) on Tuesday approved supplementary grant of Rs. 68.74 billion for disbursement of Price Differential Claims (PDCs) of Oil Marketing Companies (OMCs) and Refineries. The ECC after discussion approved supplementary grant of Rs. 68.74 billion for disbursement of PDC to OMCs/Refineries for the month of April, 2022 and… Continue reading ECC approves Rs. 68.74 bln for OMCs

China assures full support to Pakistan in developing SEZs

Finance Minister for further enhancing cooperation with China

ISLAMABAD, APR 19 (APP): Federal Minister for Finance and Revenue Miftah Ismail here on Tuesday expressed desire to further enhance bilateral cooperation with China in various fields. The minister was talking to Ms. Pangchunxue, Charge de Affaires of the Embassy of People’s Republic of China who called on him here at the Finance Division. Minister… Continue reading Finance Minister for further enhancing cooperation with China

Long-standing structural challenges pose risks to Pakistan’s sustained growth: WB

ISLAMABAD, Apr 19 (APP): Pakistan’s economy enjoyed a strong recovery and grew 5.6 percent in FY21 following measures taken by the government to mitigate the adverse socio-economic impacts of the COVID-19 pandemic, the World Bank’s Pakistan Development Update said on Tuesday. While economic activity maintained its momentum during July-December 2021, high demand pressures and rising… Continue reading Long-standing structural challenges pose risks to Pakistan’s sustained growth: WB

Exports increase 33% to Rs4.019 trillion in 3 quarters

ISLAMABAD, Apr 19 (APP):The exports of the country in rupee term witnessed an increase of 33.09 per cent during the first three quarters of the current fiscal year as compared to the corresponding period of last year, Pakistan Bureau of Statistics (PBS) reported. According to PBS provisional figures, the exports during July-March (2021-22) were recorded… Continue reading Exports increase 33% to Rs4.019 trillion in 3 quarters

Gold price increases by Rs 800 per tola to Rs 132,400

ISLAMABAD, Apr 18 (APP):The price of 24 karat per tola gold increased by Rs 800 and was sold at Rs132,400 on Monday against its sale at Rs131,600 in the local market the previous day. The price of 10 gram 24 karat gold increased by Rs 686 to Rs 113,513 from Rs 1 12,827 while that… Continue reading Gold price increases by Rs 800 per tola to Rs 132,400

Federal govt disburses development funds of Rs 603 billion in 9 months

ISLAMABAD, Apr 18 (APP):The Federal Government has released Rs603.5 billion out of total allocation of Rs900 billion for various ongoing and new social sector uplift projects of the federal ministries and division in first nine months (July-March) of fiscal year 2021-22 under its Public Sector Development Programme (PSDP). The government also released Rs4.6 billion for… Continue reading Federal govt disburses development funds of Rs 603 billion in 9 months

POL import bill surge 96% to $14.812 billion in 9 months

ISLAMABAD, Apr 18 (APP):The imports of overall petroleum group witnessed an increase of 96.09 percent during the first nine months of the current fiscal year (2021-22) as compared to the corresponding period of the last year. During the period under review, the total imports of the petroleum group stood at $14.812 billion, as against the… Continue reading POL import bill surge 96% to $14.812 billion in 9 months

Food exports up by 18.92% to $3.961 bln in 3 quarters

ISLAMABAD, Apr 18 (APP):Food exports from the country witnessed an increase of 18.92 percent during the first three quarters of the current fiscal year as compared to the corresponding period of last year, Pakistan Bureau of Statistics (PBS) reported. The exports of various food commodities were recorded at $3,961.469 million during July-March (2021-22) as compared… Continue reading Food exports up by 18.92% to $3.961 bln in 3 quarters

Category: Business

Business news from Pakistan