Govt committed to provide conducive business environment: Hafeez

ISLAMABAD, Mar 12 (APP):Federal Minister for Finance and Revenue Dr. Abdul Hafeez Shaikh Friday said the government was firmly committed to facilitate businessmen and investors by providing a conducive business environment. The minister was talking to President and Chief Executive Officer, Habib Metropolitan Bank, Mohsin Ali Nathani, who called on him here, according to press… Continue reading Govt committed to provide conducive business environment: Hafeez

SECP sensitizes people to carefully read terms, conditions of insurance policies

ISLAMABAD, Mar 12 (APP):To safeguard the interest of insurance policyholders, the Securities and Exchange Commission of Pakistan (SECP) on Friday urged public at large to carefully read all the contents of documents presented before them by an insurance agent before signing and ensure that they understand the terms and conditions of the product being offered.… Continue reading SECP sensitizes people to carefully read terms, conditions of insurance policies

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CDNS receives Rs 33 billion savings through new schemes

ISLAMABAD, Mar 12 (APP):Central Directorate of National Savings (CDNS) has received Rs 33 billion through the new launches schemes investments by March 10, from registered Premium Prize Bonds of Rs 40,000 and Rs 25000 introduced by the institution. The CDNS has introduced the new registered Premium Prize Bonds after the termination of both major Prize… Continue reading CDNS receives Rs 33 billion savings through new schemes

Tractor production increases 52.87% in 8 months

ISLAMABAD, Mar 12 (APP):The production of farm tractors in the country witnessed an increase of 52.87 percent to 31,199 units during eight months of current financial year 2020-21, against the production of 20,408 units in same period of last year. During July-February 2020-21, the production of trucks, however, witnessed a declining trend as it went… Continue reading Tractor production increases 52.87% in 8 months

ECNEC approves water, road, health infrastructure projects

ISLAMABAD, Mar 11 (APP):The Executive Committee of the National Economic Council (ECNEC) met on Thursday under the chairmanship of Federal Minister for Finance and Revenue, Dr Abdul Hafeez Shaikh, approved various development projects including water and road infrastructure schemes. Among others, the meeting was attended by Federal Minister for Planning, Development and Special Initiatives Asad… Continue reading ECNEC approves water, road, health infrastructure projects

Workers’ remittances remained over $ 2 bln in February

KARACHI, Mar 11 (APP):For ninth consecutive month, the workers’ remittances from abroad remained above $2 billion in February 2021. According to State Bank of Pakistan (SBP), on Thursday, workers’ remittances received in last month amounted to $ 2.266 billion; almost at same level of the previous month and 24.2 % higher than of February 2020.… Continue reading Workers’ remittances remained over $ 2 bln in February

Worker’s remittances surge 24.2% in February

ISLAMABAD, Mar 11 (APP): The workers’ remittances dispatched by the overseas Pakistanis surged by 24.2 per cent to 2.26 billion in February 2021 against the same month of last year when the remittances inflows were recorded at $1.82 billion. “Remittances continued exceptional performance on Feb 21, reaching $2.26 bn, up 24.2% compared to Feb 20… Continue reading Worker’s remittances surge 24.2% in February

SECP vows to implement measures for regulating financial sector

ISLAMABAD, Mar 11 (APP):The Security and Exchange Commission of Pakistan (SECP) vowed to implement the measures for regulating financial sector from being used by money launderers and illegal financiers for illicit purposes. The SECP is committed to follow the measures set out in the Financial Action Task Force (FATF) standards to protect SECP regulation for… Continue reading SECP vows to implement measures for regulating financial sector

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Pakistan’s imports topped from China, trade increases over US $6807 million

ISLAMABAD, Mar 11 (APP):China topped the list of countries from where Pakistan imported different products during the seven months of the current financial year (2020-21), followed by United Arab Emirates (UAE) and Singapore. The total imports from China during July-January (2020-21) were recorded at US $ 6807.488 million against the US $ 5794.114 million during… Continue reading Pakistan’s imports topped from China, trade increases over US $6807 million

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Fiscal deficit contained at 2.5 pc of GDP in first half of FY21

ISLAMABAD, Mar 11 (APP):The effective expenditure control measures taken by the government have resulted in containing the overall fiscal deficit at 2.5 percent of the Gross Domestic Product (GDP) during the first half of the current fiscal year (2020-21). For the Financial Year 2020-21, the overall fiscal deficit was projected at 7.0 percent of the… Continue reading Fiscal deficit contained at 2.5 pc of GDP in first half of FY21

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FBR to pay refunds through CITRO

ISLAMABAD, Mar 10 (APP): The Federal Board of Revenue (FBR) on Wednesday established a Centralized Income Tax Refund Office (CITRO) to facilitate taxpayers by releasing income tax refund payments directly into their bank accounts in an expeditious and transparent manner. According to an FBR press statement issued here, Member IR (Operations) inaugurated the launch of… Continue reading FBR to pay refunds through CITRO

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Irfan Qaiser Sheikh’s death grieves business community

LAHORE, Mar 10 (APP):Lahore Chamber of Commerce Industry (LCCI) on Wednesday expressed deep grief and sorrow over the demise of former LCCI president Irfan Qaiser Sheikh. In a condolence message here, the LCCI President Mian Tariq Misbah, Senior Vice President Nasir Hameed Khan, Vice President Tahir Manzoor Chaudhry and Executive Committee members said that entire… Continue reading Irfan Qaiser Sheikh’s death grieves business community

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Pakistan’s WBL index up 25 points

ISLAMABAD, Mar 10 (APP): Pakistan has significantly improved its score on entrepreneurship indicator of Woman, Business and the Law (WBL) index, from 50 to 75 points, as per WBL Report 2021. The rise is mainly attributed to reforms introduced by the SECP, enabling women to register a company effectively and promptly, said a press release… Continue reading Pakistan’s WBL index up 25 points

Gold prices increase Rs800 to Rs103,800

ISLAMABAD, Mar 10 (APP): The price of 24 karat per tola gold increased by Rs 800 on Wednesday and was sold at Rs103,800 against sale at Rs103,000 Karachi Sarafa Association reported. The price of ten gram 24 karat gold also increased by Rs687 and was traded at Rs88,992 against Rs88,305 while that of ten gram… Continue reading Gold prices increase Rs800 to Rs103,800

Cabinet approves SBP amendment bill 2021: Hafeez Shaikh

APP51-090321 ISLAMABAD: March 09 - Abdul Hafeez Shaikh Federal Minister for Finance and Revenues addressing in a press conference at PID Media Centre. APP photo by Sadia Haideri

ISLAMABAD, Mar 9 (APP): Minister for Finance and Revenue Dr. Abdul Hafeez Shaikh Tuesday said the Cabinet approved draft of State Bank of Pakistan (SBP) Amendment Bill 2021 to give absolute autonomy to the Central Bank. Addressing a press conference, the minister said the Central Bank’s core objective was to control inflation and to fight… Continue reading Cabinet approves SBP amendment bill 2021: Hafeez Shaikh

Gemstones industry has potential to earn $ 32 billion annual exports annually: FPCCI

Gemstones industry has potential to earn $ 32 billion annual exports annually: FPCCI

ISLAMABAD, Mar 9 (APP): Chairman Federation Pakistan Chamber of Commerce and Industry (FPCCI) Qurban Ali on Tuesday said that Pakistan has an export potential of worth $ 32 billion annually in latent gemstones industry to earn revenue for strengthening the country’s economy. Local exporters of gemstones must go for innovation and also add on modern… Continue reading Gemstones industry has potential to earn $ 32 billion annual exports annually: FPCCI

Ministry of NFS&R proposes to procure over 6.5 mln tons of wheat

ISLAMABAD, Mar 9 (APP): Ministry of National Food and Security and Research has proposed to procure over 6.5 million tons of wheat during current harvesting season in order to tackle with domestic requirements, keeping the strategic reserves as well as for exporting. Wheat harvesting has started in Sindh province as it was intended to procure… Continue reading Ministry of NFS&R proposes to procure over 6.5 mln tons of wheat

Pakistan’s exports to Afghanistan decrease 14.13% in 7 months

ISLAMABAD, Mar 9 (APP): Pakistan’s exports of goods and services to Afghanistan witnessed a decrease of 14.13 percent during the seven months of current financial year (2020-21) as compared to the corresponding period of last year, State Bank of Pakistan (SBP) reported. The overall exports to Afghanistan were recorded at $543.650 million during July-January (2020-21)… Continue reading Pakistan’s exports to Afghanistan decrease 14.13% in 7 months

Finance minister vows to promote agriculture sector

ISLAMABAD, Mar 8 (APP):Minister for Finance and Revenue Dr. Abdul Hafeez Shaikh Monday reiterated government’s commitment for promoting agriculture sector through effective and speedy implementation of Agriculture Transformation Plan as approved by the Prime Minister. To execute the plan, the minister constituted a five member committee comprising Secretary Law and Justice Division, Secretary National Food… Continue reading Finance minister vows to promote agriculture sector

CDWP approves six projects of Rs. 52 bln

ISLAMABAD, Mar 8 (APP):The Central Development Working Party (CDWP) approved on Monday six development projects at a total estimated cost of Rs. 52 billion. The meeting of CDWP was held here under the chairmanship of Deputy Chairman Planning Commission Mohammad Jehanzeb Khan and was attended by Secretary Planning Hamed Yaqoob Sheikh, senior officials from Planning… Continue reading CDWP approves six projects of Rs. 52 bln

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