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

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

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

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

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

Asad Umar stresses early auction of 3G, 4G licenses in GB

file photo

ISLAMABAD, Mar 8 (APP):Minister for Planning, Development and Special Initiatives Asad Umar Monday directed the ministry of Information Technology and and Pakistan Telecommunication Authority (PTA) to finalize the auction of 3G and 4G licenses in Gilgit Baltistan (GB) on priority as for remote areas, the importance of IT is much bigger than large cities of… Continue reading Asad Umar stresses early auction of 3G, 4G licenses in GB

CDNS receives Rs 31 billion savings through new schemes

ISLAMABAD, Mar 8 (APP): Central Directorate of National Savings (CDNS) has received Rs 31 billion through the new launches schemes investments by March 5, 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… Continue reading CDNS receives Rs 31 billion savings through new schemes

Reforms measures being taken to ensure transparency: AGP

ISLAMABAD, Mar 8 (APP): Auditor General of Pakistan (AGP) Javed Jehangir has said that the Department of Auditor General of Pakistan (DAGP) has set the process of reforms in motion including setting up of Audit Management Information System (AMIS) competency center and Specialized Audit unit for specific sectors to meet challenges and to ensure transparency… Continue reading Reforms measures being taken to ensure transparency: AGP

USA, UK, China top three destinations of Pakistani exports in 7 months

ISLAMABAD, Mar 8 (APP): United States of America (USA) remained the top export destinations of the Pakistani products during the seven months of financial year (2020-21), followed by United Kingdom (UK) and China. Total exports to the USA during July-January (2020-21) were recorded at US $ 2680.250 million against the exports of US $ 2440.386… Continue reading USA, UK, China top three destinations of Pakistani exports in 7 months

NBFC sector increases by 23.86%: Report

ISLAMABAD, Mar 8 (APP): The assets of Non-Banking and Financial Company (NBFC) sector increased by 23.86 percent to Rs 1,412.42 billion during the financial year 2019-20 as compared to Rs 1,140.36 billion last fiscal year. According to the annual report issued by Security and Exchange Commission of Pakistan (SECP), total size of the mutual fund… Continue reading NBFC sector increases by 23.86%: Report

Rs9 billion being spent on gas transmission network’s reinforcement in KP

ISLAMABAD, Mar 8 (APP): The Sui Northern Gas Pipelines Limited (SNGPL) is working on an extensive plan to reinforce its transmission network in parts of Khyber Pakhtunkhwa aimed at reducing Unaccounted For Gas (UFG) losses at an estimated cost of Rs 9 billion. Accordingly, the company has got approved a project from its board of… Continue reading Rs9 billion being spent on gas transmission network’s reinforcement in KP

Govt focusing on e-commerce to promote knowledge economy

ISLAMABAD, Mar 07 (APP): Government was focusing on e-commerce to move forward towards digital Pakistan and promote knowledge economy through a Digital Pakistan Policy to facilitate growth of e-commerce. Member (IT) Ministry of Information Technology and Telecom, Syed Junaid Imam, addressing as Chief Guest at an e-commerce summit said this market has enormous potential in… Continue reading Govt focusing on e-commerce to promote knowledge economy

Second CPEC, SEZ start with Rs.53.6 billion investment in Faisalabad: BOI

ISLAMABAD, Mar 07 (APP): The Board of Investment (BOI) has said that second Special Economic Zones (SEZ) of China Pakistan Economic Corridor (CPEC) begins with Planned Rs.53.6 billion investment in Faisalabad to attract the foreign and local investors with state of art world standard facilities. After the launch of China Pakistan Economic Corridor’s (CPECs) first… Continue reading Second CPEC, SEZ start with Rs.53.6 billion investment in Faisalabad: BOI

Rice exporters stressed to ensure decent working conditions for Sustainable Rice Production

ISLAMABAD, Mar 07 (APP): Rice Partners Pvt Ltd (RPL) one of the top rice exporters of Pakistan in collaboration of Helvetas Pakistan and Swiss Solidarity on Sunday organized a seminar on ‘Awareness on Standard Operating Procedure’ to ensure decent working conditions for sustainable rice production for rice millers and rice growers. A number of representatives… Continue reading Rice exporters stressed to ensure decent working conditions for Sustainable Rice Production

Category: Business

Business news from Pakistan