PARC provides over 300 mounds pulses seeds to farmers of Tharparker

ISLAMABAD, Jan 23 (APP): Pakistan Agriculture Research Council (PARC) in collaboration with local non- governmental organisations had distributed about 300 mounds seeds of different pulses to farmers of Tharparkar for promoting agriculture sector of the desert areas. The initiative was aimed at encouraging pulses farming in these areas to address malnutrition and provide livelihood opportunities… Continue reading PARC provides over 300 mounds pulses seeds to farmers of Tharparker

ICT exports to cross $ 2 billion mark in FY- 2020-21:Dawood

ISLAMABAD, Jan 22 (APP):Adviser to Prime Minister on Commerce and Investment, Abdul Razak Dawood on Friday expressed the hope that the country’s exports in Information and Communication Technology (ICT) will cross the $ 2 billion mark in the Financial Year (FY) 2020-21. “The ICT exports will soon become a very important sector in Pakistan’s total… Continue reading ICT exports to cross $ 2 billion mark in FY- 2020-21:Dawood

Chairman FPCCI stresses for enhancing Pak-Italy economic trade linkages

ISLAMABAD, Jan 21 (APP): The Chairman Federation Pakistan Chamber of Commerce and industry (FPCCI) Capital Office Haji Qurban Ali stressed the need to enhance the economic and trade linkages between the business community of Italy and Pakistan for increasing the trade between both sides. Local business community want equilibrium and to achieve trade balance as… Continue reading Chairman FPCCI stresses for enhancing Pak-Italy economic trade linkages

Progress made on draft agreement with 3 gas-based IPPs: Sources

ISLAMABAD, Jan 21 (APP): Progress was made on the agreement with the Independent Power Producers -as three gas-based leading IPPs agreed on a draft of legally binding contracts on the basis of MOUs initially signed in August 2019. The three companies; Sapphire, Halmore, and Orient, setup under the 2002 power policy, have moved ahead on… Continue reading Progress made on draft agreement with 3 gas-based IPPs: Sources

Gov’t spends record Rs 208 bln on development projects in 6 months :Asad Umar

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ISLAMABAD, Jan 21 (APP):Minister for Planning Development and Special Initiatives Asad Umar Thursday said the federal government had spent record Rs 208 billion on development projects under Public Sector Development Programme (PSDP) during first six months of current fiscal year. “This amount is 32 percent of total development outlay for the year 2020-21 which is… Continue reading Gov’t spends record Rs 208 bln on development projects in 6 months :Asad Umar

ECC reduces tax on commercial sugar imports to 0.25%; directs TCP to import white sugar

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ISLAMABAD, Jan 20 (APP):The Economic Coordination Committee (ECC) of the Cabinet Wednesday approved reduction of Withholding Income Tax on commercial import of white sugar and raw sugar form 5.5% to 0.25% besides approving removal of Value Added Sales Tax on import of white sugar. The approval was given on the presentation of summary by Ministry… Continue reading ECC reduces tax on commercial sugar imports to 0.25%; directs TCP to import white sugar

FPCCI invites Sweden to invest in CPEC, SEZs

ISLAMABAD, Jan 20 (APP):Federation of Pakistan Chambers and Commerce and Industry (FPCCI) Chairman Qurban Ali on Wednesday urged  for increasing the bilateral economic and trade relation between Pakistan and Sweden and also to increase the business to business connectivity among the business communities of the two sides. The Chairman FPCCI also invited Swedish investors to… Continue reading FPCCI invites Sweden to invest in CPEC, SEZs

Rs 213 million approved for DLTL payments: Razak Dawood

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ISLAMABAD, Jan 20 (APP): Adviser to Prime Minister for Commerce and Investment, Abdul Razak Dawood on Wednesday informed that Rs. 213 million for Drawback of Local Taxes and Levies (DLTL) payments of non-textile sector have been approved. These are now with State Bank of Pakistan (SBP) and will soon be disbursed to the relevant exporters,… Continue reading Rs 213 million approved for DLTL payments: Razak Dawood

TERF provide concessionary refinance on 5 percent for manufacturers: Razak

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ISLAMABAD, Jan 20 (APP):Adviser to Prime Minister for Commerce and Investment, Abdul Razak Dawood on Wednesday informed that the Temporary Economic Refinance Facility (TERF) providing long-term concessionary refinance at 5% for manufacturers and exporters has shown excellent results. This scheme will come to an end on March 31, 2021; the adviser said this on his… Continue reading TERF provide concessionary refinance on 5 percent for manufacturers: Razak

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Razak greets e-commerce promoter for raising $ 6.5 million

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ISLAMABAD, Jan 19 (APP):Adviser to Prime Minister for Commerce and Investment, Abdul Razak Dawood on Tuesday appreciated e-commerce promoter ‘Bazaar Technologies’ on successfully raising $ 6.5 million, in what was now being termed as one of the region’s larger seed rounds. “This is impressive considering the fact that the start-up was founded just 8-months ago… Continue reading Razak greets e-commerce promoter for raising $ 6.5 million

SECP vows to implement measures for regulating financial sector

ISLAMABAD, Jan 19 (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

Rs319.56 bn released for social sector uplift projects

ISLAMABAD, Jan 19 (APP):The Federal Government has released Rs. 319.56 billion for various ongoing and new social sector uplift projects till date under its Public Sector Development Programme (PSDP) 2020-21. The released funds include Rs. 207.17 billion for federal ministries, Rs.87 billion for corporations, Rs. 25.25 billion for special areas, and Rs. 750 million for… Continue reading Rs319.56 bn released for social sector uplift projects

Oil import bill shrinks by 22.32% to $4.77bn in 1st half of FY21

ISLAMABAD, Jan 19 (APP):The country’s oil import bill witnessed reduction of 22.32 percent during the first half of the current fiscal year as compared to the corresponding period of last year, Pakistan Bureau of Statistics (PBS) reported. The overall oil imports during July-December (2020-21) were recorded at $4771.471 million against the imports of $6142.197 million… Continue reading Oil import bill shrinks by 22.32% to $4.77bn in 1st half of FY21

Four private sector companies step in LNG trade

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ISLAMABAD, Jan 19 (APP):The ease-of-doing business plan, introduced by the Pakistan Tehreek-i-Insaf (PTI) government, has started yielding the required results with stepping in of four private sector companies for carrying out regulated activities of Liquefied Natural Gas (LNG) across the country. In a significant development, Oil and Gas Development Authority (OGRA) last week granted the… Continue reading Four private sector companies step in LNG trade

CPEC projects heading toward progress on expedited pace: Chinese envoy

ISLAMABAD, Jan 19 (APP):Ambassador of China to Pakistan Nong Rong Tuesday said that the projects under China Pakistan Economic Corridor (CPEC) were heading in right direction and would continue to progress on expedited pace. Talking to Secretary Planning Development and Special Initiatives Mathar Niaz Rana here, the envoy said that CPEC was the flagship project… Continue reading CPEC projects heading toward progress on expedited pace: Chinese envoy

FBR reforms improve Pakistan’s ranking of Trading Across Borders Index

ISLAMABAD, Jan 19 (APP):In a major achievement towards ensuring ease of doing business, Pakistan has improved 31 positions, from 142nd to 111th, on the rank of Trading Across Border Index, Federal Board of Revenue (FBR) said here Tuesday. The board had made trading across borders easier by focusing three crucial areas including enhancing the integration… Continue reading FBR reforms improve Pakistan’s ranking of Trading Across Borders Index

Hafeez directs for smooth wheat, sugar supply at reasonable prices

Hafeez directs for smooth wheat, sugar supply at reasonable prices

ISLAMABAD, Jan 18 (APP): Federal Minister for Finance and Revenue, Dr Abdul Hafeez Sheikh Monday directed the provincial governments to follow a self-sustaining model and streamline daily release of wheat to ensure steady supply in the provinces as well as districts. The minister was chairing the meeting of the National Price Monitoring Committee (NPMC) here.… Continue reading Hafeez directs for smooth wheat, sugar supply at reasonable prices

Around 8,383 KM additional gas pipelines being laid in current FY

ISLAMABAD, Jan 18 (APP):The two state-companies, SNGPL and SSGC, are reinforcing their network by laying around 8,383 kilometers (KM) additional transmission and distribution pipelines collectively across the country as per the target given for the current fiscal year. The Sui Northern Gas Pipelines Limited (SNGPL) is working on the task to lay 6,965 KM lines,… Continue reading Around 8,383 KM additional gas pipelines being laid in current FY

CDNS reaches net target of Rs 430 billion free deposit

ISLAMABAD, Jan 18 (APP):The Central Directorate of National Savings (CDNS) has reached the free deposit of Rs 430 billion in last six months from July 01 to December 31st current Fiscal Year (FY) 2020-21. The Central Directorate of National Savings (SDNS) has compensated an amount of Rs 440 billion to its investors after the termination… Continue reading CDNS reaches net target of Rs 430 billion free deposit

Indicators show economy witnessing significant growth

Year-on-Year (YoY) December 2019 - 2020

ISLAMABAD, Jan 18 (APP): At a time when the world economic growth rate has been hit hard by the COVID-19 (coronavirus) shocks, the economy of Pakistan has been showing significant progress as indicated by various indicators, depicting prudent polices of the government in running the country in these crisis times. According to official figures, the… Continue reading Indicators show economy witnessing significant growth

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