Category: Business

Business news from Pakistan

Federal govt to boost development expenditure by 40% to Rs 900 bln in FY22: Tarin

ISLAMABAD, May 08 (APP): Finance Minister Shaukat Tarin said Pakistan planned to boost spending on large infrastructure projects by as much as 40 percent to create jobs and foster productivity in an economy crippled by the coronavirus pandemic. In an interview with Bloomberg, the minister said the federal government would earmark as much as 900… Continue reading Federal govt to boost development expenditure by 40% to Rs 900 bln in FY22: Tarin

Closing Rates of PSX

KARACHI, May 07 (APP): Following were the closing rates of shares at Pakistan Stock Exchange Limited (PSX) issued here on Friday. AUTOMOBILE ASSEMBLER: Al-Ghazi Tractors Limited.364.5 Atlas Honda Limited.456.28 Dewan Farooque Motors Limited [ DEFAULTER SEGMENT ]4.78 Ghandhara Industries Ltd.247.7 Ghandhara Nissan Ltd.94.74 Ghani Automobile Industries Ltd.6.06 Hino Pak Motor Limited.340 Honda Atlas Cars (Pak)… Continue reading Closing Rates of PSX

Tarin for chalking out different plans to reform pay, pension system

ISLAMABAD, May 07 (APP): Federal Minister for Finance and Revenue, Shaukat Tarin Friday directed the Pay and Pension Commission to chalk out short, medium and long term plans for reformation of pay and pension system in the public sector over a period of time. During a meeting with Chairperson, Pay and Pension Commission  Nargis Sethi,… Continue reading Tarin for chalking out different plans to reform pay, pension system

Asad Umar stresses need for JVs between investors of Pak, China in CPEC SEZs

ISLAMABAD, May 7 (APP): Federal Minister for Planning, Development and Special Initiatives Asad Umar on Friday emphasized the need for joint ventures between the investors of Pakistan and China in the Special Economic Zones (SEZs) being established in Pakistan under the China-Pakistan Economic Corridor (CPEC). He said that the SEZs under CPEC would provide maximum… Continue reading Asad Umar stresses need for JVs between investors of Pak, China in CPEC SEZs

Govt. committed for growth oriented budget 2021-22: Tarin

ISLAMABAD, May 6 (APP): Federal Minister for Finance and Revenue, Shaukat Tarin on Thursday reiterated the government’s commitment to unveil a growth-oriented federal budget (2021-22). Talking to Vice President of Institute of Chartered Accountants of Pakistan (ICAP) Ashfaq Tola, who called on him here, the finance minister welcomed the ICAP vice president and discussed the… Continue reading Govt. committed for growth oriented budget 2021-22: Tarin

Closing Rates of PSX

KARACHI, May 06 (APP): Following were the Closing Rates of shares at Pakistan Stock Exchange Limited (PSX) issued here on Thursday. AUTOMOBILE ASSEMBLER Al Ghazi Tractors Limited.364.5 Atlas Honda Limited.456.28 Dewan Farooque Motors Limited [DEFAULTER SEGMENT]4.78 Ghandhara Industries Ltd.247.7 Ghandhara Nissan Ltd.94.74 Ghani Automobile Industries Ltd.6.06 Hino Pak Motor Limited.340 Honda Atlas Cars (Pak) Ltd.297.6… Continue reading Closing Rates of PSX

ICCI for withdrawal of lease extension notices to promote business activities in federal capital

ISLAMABAD, May 06 (APP): Islamabad Chamber of Commerce and Industry (ICCI) Thursday called upon the Capital Development Authority (CDA) to immediately withdraw the lease extension notices to local industries in order to promote trade and business activities in capital city. ICCI Acting President Fatma Azim called upon the CDA to immediately withdraw the lease extension… Continue reading ICCI for withdrawal of lease extension notices to promote business activities in federal capital

Amazon to add Pakistan in sellers’ list in few days

ISLAMABAD, May 06 (APP): The United States (US) e-commerce giant ‘Amazon’ will add Pakistan to its sellers’ list within a few days, Adviser to Prime Minister for Commerce and Investment,Abdul Razak Dawood said on Thursday. An important milestone of the e-Commerce policy has been achieved through teamwork by many people across the globe, the Adviser… Continue reading Amazon to add Pakistan in sellers’ list in few days

PSX stay bullish, gains 231 points, closes at 45,174 points

ISLAMABAD, May 06 (APP): The KSE 100-index of the Pakistan Stock Exchange (PSX) continued with bullish trend on Thursday, gaining 231.06 points, with positive change of 0.51 per cent, closing at 45,174.67 points against 44,943.61 points on the last working day. A total of 245,642,752 shares were traded during the day compared to the trade… Continue reading PSX stay bullish, gains 231 points, closes at 45,174 points

New schemes for SMEs to accelerate credit uptake ratio up to 30%: Raza Baqir

ISLAMABAD, May 06 (APP): State Bank of Pakistan Governor Reza Baqir Thursday said the new scheme for the SME sector would accelerate the credit uptake ratio of the smaller businesses up to 30 percent approximately during three years. He was briefing Federal Minister for Finance and Revenue Shaukat Tarin through video link during his meeting… Continue reading New schemes for SMEs to accelerate credit uptake ratio up to 30%: Raza Baqir

NBP Exchange Rates

KARACHI, May 06 (APP): Treasury Management Division of National Bank of Pakistan (NBP) on Thursday issued the following exchange rates. CURRENCY SYMBOL TT Selling TT Buying U.S DOLLAR USD 153.60 153.10 EURO EUR 184.30 183.70 JAPANESE YEN JPY 1.4044 1.3999 BRITISH POUND GBP 213.44 212.75 SWISS FRANC CHF 168.03 167.49 CANADIAN DOLLAR CAD 125.13 124.73… Continue reading NBP Exchange Rates

NBP Exchange Rates

KARACHI, May 06 (APP): Treasury Management Division of National Bank of Pakistan (NBP) on Thursday issued the following exchange rates. CURRENCY SYMBOL TT Selling TT Buying U.S DOLLAR USD 153.60 153.10 EURO EUR 184.30 183.70 JAPANESE YEN JPY 1.4044 1.3999 BRITISH POUND GBP 213.44 212.75 SWISS FRANC CHF 168.03 167.49 CANADIAN DOLLAR CAD 125.13 124.73… Continue reading NBP Exchange Rates

Next FY to be year of economic rehabilitation: Hashim

LAHORE, May 05 (APP): Punjab Finance Minister Makhdoom Hashim Javan Bakht on Wednesday said that financial year (FY) 2021-22 would be the year of economic rehabilitation. Chairing a pre-budget consultative meeting with leading economists under the Sub-National Governance Programme (SNG) here, he added that Universal Health Coverage Programme would ensure the healthy society and the… Continue reading Next FY to be year of economic rehabilitation: Hashim

Digitalization results in 186% growth in incorporation of new companies: SECP

ISLAMABAD, May 05 (APP): Process Simplification, facilitation to public and digitalization of incorporation processes has led to extraordinary growth of 186% in incorporation of new companies in April 2021. The SECP, in April has registered a total 2,185 new companies, 186% higher as compared to the same month last year, raising the total number of… Continue reading Digitalization results in 186% growth in incorporation of new companies: SECP

Comprehensive strategy devised to move towards sustainable growth: Tarin

ISLAMABAD, May 5 (APP): Terming revenue generation, power reforms, price stability and overall economic growth as four big challenges, Federal Minister for Finance and Revenue, Shaukat Tarin Wednesday said that the government had devised a comprehensive strategy to come out from stability phase to sustainable growth path. Addressing a press conference here, the minister said… Continue reading Comprehensive strategy devised to move towards sustainable growth: Tarin

Asia-Pacific can emerge from pandemic “stronger than before”: ADB President

ISLAMABAD, May 5 (APP):The Asia and the Pacific region can emerge from the coronavirus disease (COVID-19) pandemic “even stronger than before” by focusing on five areas to help achieve a prosperous, inclusive, resilient, and sustainable future, Asian Development Bank (ADB) President Masatsugu Asakawa said in remarks to the ADB Board of Governors at its 54th… Continue reading Asia-Pacific can emerge from pandemic “stronger than before”: ADB President

Prosperity at grassroots level topmost priority of govt: Tarin

ISLAMABAD, May 5 (APP):Federal Minister for Finance and Revenue, Shaukat Tarin Wednesday said prosperity at grassroots level and expansion in social protection programme were the government’s topmost priorities. Addressing a presser, he said the government was launching ‘Kamyab Kisan Programme’ – an initiative for prosperity at grassroots level after the success of Kamyab Jawan –… Continue reading Prosperity at grassroots level topmost priority of govt: Tarin

Dr.Shamshad elected as first woman PSX Board Chairperson

ISLAMABAD, May 5 (APP):Renowned economist and former Governor State Bank of Pakistan (SBP) Dr. Shamshad Akhtar has been unanimously elected as the PSX Board Chairperson in the first meeting of the newly elected PSX Board held on Wednesday. For the first time in the 73 year history of Pakistan Stock Exchange (PSX), a woman Chairperson… Continue reading Dr.Shamshad elected as first woman PSX Board Chairperson

FPCCI lauds PM development package for GB, terms it an new era of prosperity

ISLAMABAD, May 04 (APP): Federation of Pakistan Chambers of Commerce and Industry (FPCCI) on Tuesday lauded the vision and endeavor of Prime Minister for the development of Gilgit Baltistan. In a press statement, Chairman FPCCI Qurban Ali, appreciated the announcement of the development package of Rs370 billion aiming to promote tourism through development of infrastructure… Continue reading FPCCI lauds PM development package for GB, terms it an new era of prosperity

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