Foreign Currency Account Scheme

KARACHI, Jul 16 (APP): The Foreign Exchange Rates Committee of Financial Market Association of Pakistan issued the following Base Rate, here on Friday. FOREIGN CURRENCY ACCOUNTS SCHEME BBA BID MAXIMUM RATES R A T E S FOR PAYMENT OF WITH INTEREST BY VALUE DATE AUTHORIZED DEALERS U.S. DOLLARS VALUE 16-07-21 For 3 months and over… Continue reading Foreign Currency Account Scheme

CCoE okays Power Division’s summary regarding validation of IPPs agreement process

ISLAMABAD, Jul 15 (APP):The Cabinet Committee on Energy approved on Thursday a summary submitted by the power division with respect to the process of Independent Power Producers (IPPs) agreements. The meeting of the CCOE was held under the Chairmanship of Federal Minister for Planning, Development and Special Initiatives Asad Umar. After detailed discussion, the Committee… Continue reading CCoE okays Power Division’s summary regarding validation of IPPs agreement process

Pakistan, Russia sign ‘technical cooperation’ agreement to lay Karachi-Lahore steam gas pipeline

ISLAMABAD, Jul 15 (APP):Pakistan and Russia on Thursday signed an agreement of technical cooperation to lay the 1100-kilometre steam gas pipeline from Karachi to Lahore at an estimated cost of $2.5 billion. The agreement was signed by Secretary Petroleum Division Dr Arshad Mahmood and Deputy Director of Russian Energy Ministry Alexander Tolparov, a news release… Continue reading Pakistan, Russia sign ‘technical cooperation’ agreement to lay Karachi-Lahore steam gas pipeline

Govt absorbs int’l price-hike, raises petrol price by Rs5.4 only

ISLAMABAD, Jul 15 (APP): Absorbing the increasing oil prices in the international market to provide relief to the masses, the government on Thursday raised petrol price by just Rs5.4 per liter with effective from July 16 for next fortnight. The Oil and Gas Regulatory Authority (OGRA) had recommended Rs11.50 increase in per liter petrol, however… Continue reading Govt absorbs int’l price-hike, raises petrol price by Rs5.4 only

PSX stays bullish for 3rd consecutive day, gains 136 points to close at 47,628 points

ISLAMABAD, Jul 15 (APP): The KSE-100-index of Pakistan Stock Exchange (PSX) continued with bullish trend on Thursday, gaining 136.79 points, with a positive change of 0.29 percent, closing at 47,628.26 points against 47,491.47 points on the last working day. A total of 506,296,200 shares were traded during the day compared to the trade of 508,283,755… Continue reading PSX stays bullish for 3rd consecutive day, gains 136 points to close at 47,628 points

Tarin invites German enterprises to invest in Pakistan

ISLAMABAD, Jul 15 (APP): Federal Minister for Finance and Revenue, Shaukat Tarin, said Thursday invited German enterprises to make investment in Pakistan in different fields including health, education, agriculture and power sectors. In a meeting with Ambassador of Germany, Bernhard Schlagheck, who called on him here, Shaukat Tarin assured all possible support and facilitation in… Continue reading Tarin invites German enterprises to invest in Pakistan

Japan developing export base in Pakistan, opens labour market for Pakistanis

ISLAMABAD, Jul 14 (APP): Ambassador of Japan to Pakistan, Kuninori Matsuda said Wednesday that his country was focusing on developing a strong export base in Pakistan and was looking beyond the traditional sectors of textiles and automobiles. During a call on meeting with Federal Minister for Finance and Revenue, Shaukat Tarin, the ambassador said that… Continue reading Japan developing export base in Pakistan, opens labour market for Pakistanis

Innovative economy to essential for sustainable productivity in Pakistan: CEO

ISLAMABAD, Jul 14 (APP): Chief Executive Officer (CEO), National Productivity Organization (NPO) Muhammad Alamgir Chaudhry on Wednesday said use of modern innovative techniques and technology in different sectors of the country’s economy was essential for promotion of sustainable productivity. The CEO said there was a need for awareness on productivity in Pakistan at all levels,… Continue reading Innovative economy to essential for sustainable productivity in Pakistan: CEO

FPCCI, GB Govt to organize an international investment conference

ISLAMABAD, Jul 14 (APP): Chairman Federation of Pakistan Chamber of Commerce and Industry (FPCCI), Qurban Ali Wednesday informed that FPCCI in collaboration with Gilgit-Baltistan (GB) government would organize an international investment conference on GB. Chairman FPCCI called on Gilgit-Baltistan Chief Minister (CM) Muhammad Khalid Khurshid at his office here. They discussed a wide range of… Continue reading FPCCI, GB Govt to organize an international investment conference

Pak, Uzbekistan vow to boost bilateral trade, economic ties

ISLAMABAD, Jul 14 (APP): Pakistan and Uzbekistan on Wednesday agreed for boosting bilateral trade and economic ties to enhance economic integration and connectivity between Pakistan and Central Asian States (CARs). The two sides joins hands to attract leading companies in pharmaceuticals, textile, leather, production of construction materials and agriculture industries, said a press release issued… Continue reading Pak, Uzbekistan vow to boost bilateral trade, economic ties

Govt. working to ensure availability of certified inputs to overcome agri challenges

ISLAMABAD, Jul 14 (APP): Minister for National Food Security and Research Syed Fakhar Imam on Wednesday said the government was working to ensure availability of quality seeds, development of cold storage facilities and farm mechanization to enhance per-acre output of major crops. Addressing the international conference on “Best practices for building sustainable food systems in… Continue reading Govt. working to ensure availability of certified inputs to overcome agri challenges

Govt to provide Rs 28 billion subsidy on purchase of agri-tools: Cheema

ISLAMABAD, Jul 14 (APP): Special Assistant to Prime Minister on National Food Security Jamshed Iqbal Cheema here on Wednesday said the government would provide Rs 28 billion subsidy on the purchase of agriculture tools and equipments to mechanize local agriculture sector for enhancing per-acre output. He said the list of agriculture tools was increased from… Continue reading Govt to provide Rs 28 billion subsidy on purchase of agri-tools: Cheema

Rupee recovers 38 paisas against dollar

ISLAMABAD, Jul 14 (APP): The exchange rate of Pakistan rupee recovered 38 paisas against the US dollar in the interbank trading on Wednesday and closed at Rs 159.12 as compared to the previous day’s closing of Rs 159.50. According to Forex Association of Pakistan (FAP), the buying and selling rates of dollar in the open… Continue reading Rupee recovers 38 paisas against dollar

Govt disburses 100% funds allocated for water resources, NTDC, PEPCO projects under PSDP 2020-21

ISLAMABAD, Jul 14 (APP): The government has released 100 percent funds for various water resource, National Transmission and Despatch Company (NTDC) and Pakistan Electric Power Company (PEPCO) projects allocated under the Public Sector Development Programme (PSDP 2020-21). According to the data of Planning Commission, an amount of Rs71,734.046 million was allocated for various water resource… Continue reading Govt disburses 100% funds allocated for water resources, NTDC, PEPCO projects under PSDP 2020-21

Pakistan receives $1 billion against Euro bonds

ISLAMABAD, Jul 14 (APP): The State Bank of Pakistan (SBP) on Wednesday received US$1.0 billion proceeds of the government’s tap offering of its recently issued Euro Bond. According to a tweet of the central bank, the SBP’s foreign exchange reserves as on July 13, 2021 had reached US$18.2bn, the highest level since January 2017.

Govt launching poverty-alleviation ‘Kamyab Pakistan’ programme on July 29

ISLAMABAD, Jul 14 (APP): The government is all set to launch the country’s biggest welfare ‘Kamyab Pakistan’ programme on July 29, which envisages pulling around 4 million families out of poverty, Federal Minister for Finance and Revenue, Shaukat Tarin said Wednesday. During a meeting with Special Assistant to Prime Minister (SAPM) on Youth Affairs, Usman… Continue reading Govt launching poverty-alleviation ‘Kamyab Pakistan’ programme on July 29

LSM grows by 37 pc in May, 14.56 pc in 11 months

ISLAMABAD, Jul 14 (APP): The Large Scale Manufacturing Industries (LSMI) production grew up by 36.84 percent on year-on-year basis during the month of May 2021 as compared to the corresponding month of last year, Pakistan Bureau of Statistics (PBS) reported. LSMI Quantum Index Number (QIM) was recorded at 139.55 points during May 2021 against 101.98… Continue reading LSM grows by 37 pc in May, 14.56 pc in 11 months

Uzbekistan taking interest in Gawadar for boosting business: Dawood

ISLAMABAD, Jul 13 (APP):Adviser to Prime Minister on Commerce and Investment, Abdul Razak Dawood, on Tuesday said that Uzbekistan was taking interest in Gawadar for boosting business to other part of the region. In an interview with a private television channel, he said that Uzbekistan had asked Pakistan for acquiring a piece of land to… Continue reading Uzbekistan taking interest in Gawadar for boosting business: Dawood

Razak Dawood to leave for Tashkent (Uzbekistan) today

ISLAMABAD, Jul 13 (APP):The Adviser to Prime Minister on Commerce and Investment, Abdul Razak Dawood, will leave for Tashkent (Uzbekistan) on Tuesday, accompanied by officials of the government and a large business delegation. He will attend the 6th Session of Pakistan-Uzbekistan Joint Ministerial Commission to held on July 14, followed by the Pakistan-Uzbekistan “Silk Route… Continue reading Razak Dawood to leave for Tashkent (Uzbekistan) today

Pak-Uzbekistan negotiate to enhance cooperation in various sectors

ISLAMABAD, Jul 13 (APP):Pakistan and Uzbekistan are launching talks to enhance bilateral trade and economic ties and cooperation in various fields in upcoming visit of Prime Minister Imran Khan. Uzbekistan and Pakistani Intergovernmental Commission (IGC) on Trade-Economic and Scientific-Technical Cooperation to be held in Tashkent on July 14, said a news release issued by Board… Continue reading Pak-Uzbekistan negotiate to enhance cooperation in various sectors

Category: Business

Business news from Pakistan