Exports increased by 26 percent in last 8 months: Razak Dawood

ISLAMABAD, Mar 2 (APP): Adviser to Prime Minister on Commerce and Investment, Abdul Razak Dawood on Wednesday said that country’s exports have been increased by 26 percent to USD 20.552 billion from July to February FY 2021-22. For July -February 2022, “Our exports increased by 26 percent to USD 20.552 billion as compared to USD… Continue reading Exports increased by 26 percent in last 8 months: Razak Dawood

PKIC, RJ Fleming Co. join hands to launch Pakistan focused private equity fund

ISLAMABAD, Mar 2 (APP): The Kuwait Investment Authority’s joint venture with the Pakistan government, Pakistan Kuwait Investment Company (Private) Limited (PKIC) and R.J. Fleming and Co. Ltd have entered into a Memorandum of Understanding (MoU) to jointly set up and manage under the requisite and appropriate licenses a Private Equity Fund. With PKIC’s strong local… Continue reading PKIC, RJ Fleming Co. join hands to launch Pakistan focused private equity fund

Tarin congratulates FBR for surpassing revenue collection target

ISLAMABAD, Mar 2 (APP): Federal Minister for Finance and Revenue, Shaukat Tarin here on Wednesday congratuled the Federal Board of Revenue (FBR) for surpassing the revenue collection target of Rs441 billion set for the month of February 2022. In a tweet, the federal minister said this showed the robust growth of 28.5 percent, and up… Continue reading Tarin congratulates FBR for surpassing revenue collection target

February CPI lowers at 12.2 pc: Muzammil

ISLAMABAD, Mar 1 (APP): Spokesperson to the Finance Minister, Muzzammil Aslam on Tuesday said that Consumer Price Index (CPI) inflation lowered by 12.2 percent in February as compared to 13 percent in January. In a Tweet, he said that “Despite the lower inflation in February, the inflation surprise on upside due to unusual high movement… Continue reading February CPI lowers at 12.2 pc: Muzammil

PSX stays bullish, gains 342 points to close at 44,803 points

Islamabad, Mar 1 (APP): The KSE 100-index of the Pakistan Stock Exchange (PSX) continued with bullish trend on Tuesday, gaining 342.57 points, with a positive change of 0.77 percent, closing at 44,803.58 points against 44,461.01 points on the last working day.  A total of 309,346,610 shares were traded during the day compared to the trade… Continue reading PSX stays bullish, gains 342 points to close at 44,803 points

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Pakistan, UAE to strengthen cooperation in trade, religious tourism

ISLAMABAD, MAR 1ST (APP): Pakistan and United Arab Emirates on Tuesday expressed the will to strengthen bilateral cooperation in various fields including trade, investment and religious tourism between the two countries. According to press statement issued by the finance ministry, Ambassador of United Arab Emirates to Pakistan, Hamad Obaid Ibrahim Salem Al-Zaabi had a call… Continue reading Pakistan, UAE to strengthen cooperation in trade, religious tourism

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CDNS collect Rs720 billion fresh deposits by February 28

ISLAMABAD, Mar 1 (APP):The Central Directorate of National Savings (CDNS) on Tuesday obtained Rs720 billion fresh deposits in the last seven months of current fiscal year 2021-22 from July1st to February 28th. The CDNS has set an annual gross receipt target of Rs 980 billion from July 1 to June 30 of the previous fiscal… Continue reading CDNS collect Rs720 billion fresh deposits by February 28

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CPI inflation up by 12.24% in February

ISLAMABAD, Mar 1 (APP): The Consumer Price Index (CPI) based monthly inflation increased by 12.24% on year-on-year (YoY) basis during the month of February 2022 against the corresponding month of last year, Pakistan Bureau of Statistics (PBS) reported Saturday. According to PBS data, the average inflation rate during the period from July to February (2021-22)… Continue reading CPI inflation up by 12.24% in February

Fiscal deficit contained at 2.1pc, primary balance remains in surplus

“Fiscal deficit is contained at 2.1 percent of GDP during the H1 of current fiscal year. The primary balance, on the other hand, remained in surplus of Rs 81.1 billion during July-December FY2022, compared to Rs 337.2 billion in the previous year,” says monthly Economic Update and Outlook for February 2022. It says, despite significant… Continue reading Fiscal deficit contained at 2.1pc, primary balance remains in surplus

Finance Ministry announces Rs10/ltr reduction in petrol prices

ISLAMABAD, FEB 28 (APP): Despite a considerable price hike in international petroleum products, the government on Monday announced reduction of Rs10 in per liter petrol, effective from March 1st, Finance Ministry said in a statement issued here. According to the statement, petrol would be sold at Rs149.86 per liter as compared to Rs159.86. Likewise, the… Continue reading Finance Ministry announces Rs10/ltr reduction in petrol prices

Finance Ministry announces Rs10/ltr reduction in petrol prices

ISLAMABAD, FEB 28 (APP): Despite a considerable price hike in international petroleum products, the government on Monday announced reduction of Rs10 in per liter petrol, effective from March 1st, Finance Ministry said in a statement issued here. According to the statement, petrol would be sold at Rs149.86 per liter as compared to Rs159.86. Likewise, the… Continue reading Finance Ministry announces Rs10/ltr reduction in petrol prices

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FBR collects Rs 3,799 bln revenues in 8 months, exceeds target by Rs268bln

ISLAMABAD, FEB 28 (APP): The Federal Board of Revenue (FBR) collected net revenues of Rs 3,799 billion during the first eight months of the current fiscal year (2021-22), exceeding the target set for the period by Rs 268 billion. This represents a growth of about 30.3% over the collection of Rs. 2,916 billion during July-February… Continue reading FBR collects Rs 3,799 bln revenues in 8 months, exceeds target by Rs268bln

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Digital payments continue brisk growth in Q1 of FY 2022

KARACHI, Feb 28 (APP):State Bank of Pakistan on Monday released its first quarterly report of payment systems for current fiscal year; covering the period July – Sept. 2021, which shows that Pakistan’s payment ecosystem, especially though digital platforms, continued its brisk pace of growth. E-banking—defined as transactions conducted via electronic channels including Real-time Online Branches,… Continue reading Digital payments continue brisk growth in Q1 of FY 2022

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Economy continues to be strong, says monthly economic outlook

ISLAMABAD, Feb 28 (APP): Pakistan’s economic performance continues to be strong as cyclical position was witnessed slightly above neutral and the trend growth rate of potential output remained strong, according to monthly Economic Update and Outlook for February 2022. According to the document released by the Finance Ministry here Monday, the rebased Large Scale Manufacturing… Continue reading Economy continues to be strong, says monthly economic outlook

PSX gains 476 points to close at 444,61 points

ISLAMABAD, Feb 28 (APP): The KSE 100-index of the Pakistan Stock Exchange (PSX) witnessed bullish trend on Monday, gaining 476.77 points, with a positive change of 1.08 percent, closing at 444,61.01 points against 43,984.24 points on the last working day. A total of 208,122,492 shares were traded during the day compared to the trade of… Continue reading PSX gains 476 points to close at 444,61 points

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Pak-Afghan transit trade, pedestrian traffic increase: M.Sadiq

ISLAMABAD, Feb 28 (APP): The transit trade and pedestrian traffic across Pakistan- Afghanistan at Turkham border has witnessed an increase the previous day, Special Representative of Pakistan to Afghanistan, Muhammad Sadiq Khan said Monday. Khan tweeted that more than 22,665 citizens and 1,585 trucks crossed the border from different points including Torkham, Kharlachi, Gulam Khan,… Continue reading Pak-Afghan transit trade, pedestrian traffic increase: M.Sadiq

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UNDP extends support for Ehsas, KPP for sustainable development

During a meeting with Federal Minister for Finance and Revenue, Shaukat Tarin Knut Ostby appreciated and supported the efforts of the government for bringing improvement in social and economic sectors. Assistant Resident Representative UNDP, Ms. Ammara Durrani; Technical Advisor UNDP on Financing for Development, Haroon Sharif, Senior; Policy Analyst UNDP, Umer Akhlaq Malik and other… Continue reading UNDP extends support for Ehsas, KPP for sustainable development

Razak to lead high powered delegation in Torkham border visit

ISLAMABAD, Feb 27 (APP):The Adviser to the Prime Minister on Commerce and Investment, Abdul Razak Dawood would lead high powered delegation to visit Torkham border on February 28. A high powered delegation led by Adviser to the Prime Minister on Commerce and Investment, Abdul Razak Dawood, accompanied by Pakistan’s Special Representative for Afghanistan Mohammad Sadiq… Continue reading Razak to lead high powered delegation in Torkham border visit

BOI organize meet up for CARs, African Countries

ISLAMABAD, Feb 27 (APP): The Federal Board of Investment (BOI) on Sunday organized a Pakistan-Investors Meet-up 2022 for the Central Asian Republics (CARs) and African Countries in Expo Centre Lahore. More than 100 foreign delegates from CARs and Africa participate in BOI’s Pakistan Investors Meet up 2022 in Lahore Right time for the Central Asia… Continue reading BOI organize meet up for CARs, African Countries

IT exports increase by 32.65pc in seven months of current FY

ISLAMABAD, Feb 27 (APP): The Information Technology (IT) exports have surged at the growth rate of 32.65 percent in the first seven months of the current financial year. “ICT export remittances, including telecommunication, computer, and information services for the period July 2021 to January 2022 during Financial Year (FY) 2021-22 have surged to the US… Continue reading IT exports increase by 32.65pc in seven months of current FY

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