ISLAMABAD, Sep 23 (APP): The Economic Coordination Committee (ECC) of the Cabinet on Thursday approved to import 50,000 MT sugar to maintain sufficient stock in the country. The ECC approved to import sugar in 03 segregated tenders of 50,000 MT each so that there is more participation and increased competition when international prices fall down,… Continue reading ECC approve sugar import tenders of 50,000 MT
Category: Business
Business news from Pakistan
CPEC continues successfully in challenging times, Phase-II projects meeting deadlines; Asad Umar
ISLAMABAD, Sep 23 (APP): Federal Minister for Planning, Development and Special Initiatives said Thursday that despite many challenges, the game-changer China Pakistan Economic Corridor (CPEC) was progressing successfully as many projects under the corridor have been completed in accordance with their set deadlines. The development on CPEC project continued despite Covid-19 pandemic that had hit… Continue reading CPEC continues successfully in challenging times, Phase-II projects meeting deadlines; Asad Umar
Diplomats asked to focus on trade diplomacy for promoting Pakistan’s economic interests
ISLAMABAD, Sep 22 (APP): A 21-member delegation of trainee officers of the Foreign Service of Pakistan led by Muhammad Wasif, Director (Programs), Foreign Service Academy visited the Islamabad Chamber of Commerce and Industry (ICCI) and exchanged views with the business community on challenges and opportunities for the Pakistan’s economy. Addressing the delegation, Sardar Yasir Ilyas… Continue reading Diplomats asked to focus on trade diplomacy for promoting Pakistan’s economic interests
Inflation on decline, govt announces reduction in ghee, sugar, flour prices
Announcing reduction in the prices of various essential food items, Federal Minister for Finance and Revenue, Shaukat Tarin said Wednesday that despite highest increase of inflation in a decade worldwide, inflation has declined in the country, owing to balanced policies of the government. “The Consumer Price Index (CPI) based inflation has come down from 9.3… Continue reading Inflation on decline, govt announces reduction in ghee, sugar, flour prices
Pak-Afghan trade now picking up: SAARC-CCI president
LAHORE, Sep 21 (APP): South Asian Association for Regional Cooperation-Chamber of Commerce and Industry (SAARC-CCI) President Iftikhar Ali Malik said on Tuesday that Pak-Afghan trade was now picking up at good pace, as it swelled by 60 per cent last week. Talking to a delegation of exporters, led by Syed Yawer Abbas Bahawalpuri here, he… Continue reading Pak-Afghan trade now picking up: SAARC-CCI president
Currency rates of NBP
KARACHI, Sep 21 (APP): Following are the selling/buying rates of major currencies issued by the National Bank of Pakistan (NBP), here on Tuesday. CURRENCY SELLING BUYINGUSD 170.89 167.01GBP 233.55 228.23 EUR 200.48 196.26JPY 1.5597 1.5241 SAR 45.62 44.49AED 46.54 45.77
NBP Exchange Rates
KARACHI, Sep 21 (APP): Treasury Management Division of National Bank of Pakistan (NBP) on Tuesday issued the following exchange rates. CURRENCY SYMBOL TT Selling TT BuyingU.S DOLLAR USD 169.20 168.70EURO EUR 198.83 198.24 JAPANESE YEN JPY 1.5442 1.5397BRITISH POUND GBP 231.24 230.56SWISS FRANC CHF 182.44 181.90 CANADIAN DOLLAR CAD 132.34 131.95AUSTRALIAN DOLAR AUD 122.88 122.52SWEDISH… Continue reading NBP Exchange Rates
Exports increase by 24% to Rs742,259 mln in two months
ISLAMABAD, Sep 20 (APP):The exports from the country in rupee term witnessed an increase of 23.86 per cent during the first two months of the current fiscal year as compared to the corresponding month of last year, Pakistan Bureau of Statistics (PBS) reported. According to PBS provisional figures issued by PBS, the exports from the… Continue reading Exports increase by 24% to Rs742,259 mln in two months
NBP Exchange Rates
KARACHI, Sep 20 (APP):Treasury Management Division of National Bank of Pakistan (NBP) on Monday issued the followingexchange rates. CURRENCY SYMBOL TT Selling TT BuyingU.S DOLLAR USD 168.60 168.10EURO EUR 197.79 197.21 JAPANESE YEN JPY 1.5336 1.5290BRITISH POUND GBP 231.15 230.47SWISS FRANC CHF 180.84 180.31 CANADIAN DOLLAR CAD 131.77 131.38AUSTRALIAN DOLAR AUD 121.97 121.60SWEDISH KRONA SEK… Continue reading NBP Exchange Rates
Foreign exchange rates
KARACHI, Sep 20 (APP):The Exchange Rates Committee of Financial Markets Association of Pakistan issued the followingExchange rates bulletin, here on Monday. VIDE SBP F.E. CIRCULAR NO.42 & 21.07.98 & 04.08.98 RESPECTIVELY. 6 MONTHS US DOLLAR 0.1495 20.09.2021 CONVERSION RATES FOR 20TH SEPTEMBER 2021 FOR FOREIGN CURRENCYFOR FORWARD COVER FOR DEPOSITS (EXCLUDING FE 25 DEPOSITS) SBP… Continue reading Foreign exchange rates
Chinese companies to invest US $ 15 bln in Pakistan’s petrochemicals
ISLAMABAD, Sep 19 (APP): Federal Secretary, Board of Investment (BOI), Fareena Mazhar on Sunday said Chinese companies were ready to invest US $15 billion in Pakistan’s petrochemicals sector. Under the said project, Chinese companies would invest in the petrochemical sector in Gwadar, including the project of energy pipeline from Gwadar to China, she told APP.… Continue reading Chinese companies to invest US $ 15 bln in Pakistan’s petrochemicals
Seven projects being executed to reinforce gas transmission network
ISLAMABAD, Sep 19 (APP): The two state-owned companies, Sui Northern Gas Pipelines Limited (SNGPL) and Sui Southern Gas Company (SSGC) are in process of executing at least seven major projects to reinforce gas transmission and distribution systems in their respective areas. The SNGPL is constructing a 12 kilometers (KMs) pipeline to supply 30 million cubic… Continue reading Seven projects being executed to reinforce gas transmission network
SAARC Chamber urges world to give peace a chance to prevail in war torn Afghanistan
ISLAMABAD, Sep 19 (APP): SAARC Chamber of Commerce and Industry on Sunday called upon the West in general and United States in particular to give peace a chance to prevail in war torn Afghanistan by fully supporting economically to rebuild the state. Talking to a delegation of senior lawyers led by Rana Muhammad Aqil Nasir,… Continue reading SAARC Chamber urges world to give peace a chance to prevail in war torn Afghanistan
Govt to grant complete autonomy to FBR: Finance Minister
ISLAMABAD, Sep 18 (APP):Federal Minister for Finance and Revenue Shaukat Tarin Saturday said the government was committed to grant complete autonomy to the Federal Board of Revenue (FBR) to rule out the possibility of political interference. The incumbent government was fully committed to grant FBR operational and financial autonomy in order to rule out the… Continue reading Govt to grant complete autonomy to FBR: Finance Minister
Proposed policy to expand cross-sectoral SMEs growth: Minister
ISLAMABAD, Sep 18 (APP):Federal Minister for Industries and Production, Makhdum Khusro Bakhtyar on Saturday said that proposed Small and Medium Enterprises (SME) policy would expand the cross-sectoral small and medium enterprises growth to enhance employment. In continuation of consultative session with Small and Medium Enterprises (SME) multi-stakeholders, the minister held another meeting with SMEs across… Continue reading Proposed policy to expand cross-sectoral SMEs growth: Minister
China reiterates readiness to work with Pakistan to make CPEC a great success
ISLAMABAD, Sep 17 (APP):China reiterated on Friday its readiness to work with the Pakistan government for a mutual goal of making the China Pakistan Economic Corridor (CPEC) a great success. “China is ready to work with Pakistani side to create a sound environment for the CPEC and bilateral practical cooperation to achieve mutual benefit and… Continue reading China reiterates readiness to work with Pakistan to make CPEC a great success
Govt to facilitate investors for revival of SOEs
ISLAMABAD, Sep 17 (APP): Federal Minister for Privatization Mohammed Mian Soomro on Friday reiterated the government’ s resolve to facilitate foreign as well as local investors in line with vision of Prime Minister to revive state owned enterprises and turn them into profit oriented enterprises. “We welcome the foreign investment in Pakistan and as per… Continue reading Govt to facilitate investors for revival of SOEs
CCoE approves winter incentive package on incremental consumption
ISLAMABAD, Sep 17 (APP): The Cabinet Committee on Energy (CCoE) Friday approved the summary submitted by Power Division on the winter incentive package on incremental consumption for all domestic, commercial and general services consumers of XW- DISCOs and K- Electrics from November 01, 2021 till February 28, 2022. The meeting of the Cabinet Committee on… Continue reading CCoE approves winter incentive package on incremental consumption
Bid documents of Sukkur-Hyderabad motorway approved
ISLAMABAD, Sep 17 (APP):The board of Public Private Partnership Authority (P3A) Friday approved the bid documents of the landmark Sukkur-Hyderabad Motorway Project proposed to be constructed on Public Private Partnership (PPP) basis at approved construction cost of approximately Rs 191 billion (US$ 1.23 Billion). Minister for Planning, Development and Special Initiatives (MoPD&SI) Asad Umar presided… Continue reading Bid documents of Sukkur-Hyderabad motorway approved
Major work on CPEC projects done by PTI govt: Asad Umar
ISLAMABAD, Sep 17 (APP):Minister for Planning, Development, and Special Initiatives Asad Umar Friday dispelled the impression of slowing down pace of the China Pakistan Economic Corridor (CPEC) projects saying that major work of the CPEC projects was completed during the Pakistan Tehreek-i-Insaaf (PTI) government. He said in first phase of CPEC, two major sectors- power… Continue reading Major work on CPEC projects done by PTI govt: Asad Umar
