ISLAMABAD, Feb 15 (APP):The inflow of workers’ remittances in to the country witnessed 19 percent increase in January 2021, as compared to same month of the previous year. The remittances remained above $2 billion for 8th straight month as during the corresponding month, the inflow was recorded at $2.3 billion as compared to the inflow… Continue reading Inflow of workers’ remittances increases 24% in 7 months
Category: Business
Business news from Pakistan
Local POL production increases by 5.01% in 1st half of FY 2020-21
ISLAMABAD, Feb 15 (APP): The overall production of petroleum commodities has witnessed an increase of 5.01 percent during the first half of financial year 2020-21 as compared to corresponding period of last year. The Petroleum, Oil and Lubricants (POL) products that showed growth including kerosene oil production, which increased by 3.83 percent during the period… Continue reading Local POL production increases by 5.01% in 1st half of FY 2020-21
CPEC shrugs off all odds, moving forward with new vigour
Najam ul Hassan ISLAMABAD, Feb 14 (APP): Despite the international propaganda move, the China Pakistan Economic Corridor (CPEC) project is moving forward by shrugging off all odds with lot of successes and new investments. Although the year 2020 proved to be yet another period of misunderstanding about the CPEC, all such negative campaigns are gradually… Continue reading CPEC shrugs off all odds, moving forward with new vigour
World needs to explore economic potential of digitalization: EU Envoy
ISLAMABAD, Feb 12 (APP): European Union Ambassador to Pakistan, Androulla Kaminara Sunday said that the world needed to explore economic potential of digitalization as it had changed the working of the Global system due to its multi-dimensional impacts, including time efficiency and accuracy. She said digitalization and Artificial Intelligence (AI) had changed the world pattern… Continue reading World needs to explore economic potential of digitalization: EU Envoy
Govt releases Rs1,686.644 mln for petroleum sector projects in seven months
ISLAMABAD, Feb 14 (APP):The government has released funds amounting to Rs1,686.644 million during first seven months of the current fiscal year to execute eight petroleum projects under the Public Sector Development Programme (PSDP 2020-21) against the total allocation of Rs1,786.160 million. According to the official data, the government has authorized/disbursed an amount of Rs1686.644 million… Continue reading Govt releases Rs1,686.644 mln for petroleum sector projects in seven months
Efforts on to revive manufacturing industry: Fawad Ch
LAHORE, Feb 13 (APP):Federal Minister for Science and Technology Chaudhry Fawad Hussain said on Saturday that the government was making all-out efforts to revive the manufacturing industry in the country as it was necessary for strengthening national economy. He was addressing the inaugural ceremony of LCCI app for apple IOS and upgraded website of the… Continue reading Efforts on to revive manufacturing industry: Fawad Ch
Senate body directs for early completion of CPEC projects in Balochistan
ISLAMABAD, Feb 12 (APP):The Special Committee on the Project of China-Pak Economic Corridor (CPEC) on Friday discussed in detail CPEC Projects in Balochistan and directed the concerned authorities to complete all the ongoing projects on priority. The Committee showed concern regarding delay in projects and stressed the need for maintaining timelines if progress is to… Continue reading Senate body directs for early completion of CPEC projects in Balochistan
LSM robust growth continued in December: Hammad
ISLAMABAD, Feb 12 (APP):Federal Minister for Industries and Production Hammad Azher on Friday said the robust growth (11.14 per cent) of Large Scale Manufacturing (LSM) continued in December (2020). “The V shaped economic recovery in Pakistan is led by industries”, he said in a tweet.
Over 80 thousand Roshan Digital Accounts opened till date: SBP Governor
KARACHI, Feb 12 (APP):Governor State Bank of Pakistan (SBP) Reza Baqir on Friday said that overseas Pakistanis from 97 countries had open Roshan Digital Accounts (RDA) and thus now were connected to Pakistani banking. Addressing as a chief guest at a launch event of HabibMetro Roshan Digital Account at a local hotel, SBP Governor said… Continue reading Over 80 thousand Roshan Digital Accounts opened till date: SBP Governor
German envoy lauds revenue collection performance of FBR
ISLAMABAD, Feb 12 (APP): The German Ambassador to Pakistan, Bernhard Schlagheck on Friday lauded the revenue collection performance of Federal Board of Revenue (FBR) in the first seven months of current Fiscal Year. German Ambassador to Pakistan, Bernhard Schlagheck called on Special Assistant to Prime Minister on Revenue Dr. Waqar Masood Khan at FBR Headquarters,… Continue reading German envoy lauds revenue collection performance of FBR
FBR says reform process in FBR bearing fruit
ISLAMABAD, Feb 12 (APP): The reform agenda launched in the Federal Board of Revenue (FBR) is bearing fruit as the board had exceeded the seven month revenue target for Fiscal Year 2020 – 21 by collecting Rs 2,570 billion against the target of Rs 2,550 billion, the board said Friday. “In line with the vision… Continue reading FBR says reform process in FBR bearing fruit
Industrial sector showing sustained strong growth: Asad Umar
ISLAMABAD, Feb 12 (APP): Minister for Planning, Development and Special Initiatives Asad Umar Friday said the country’s large industry was showing strong growth as it increased by 11.4 percent in December 2020 as compared to same month of the preceding year. “Another double digit growth month for Large Scale Manufacturing in December,” he said in… Continue reading Industrial sector showing sustained strong growth: Asad Umar
Commercial feasibility study of Sialkot-Kharian motorway completes
ISLAMABAD, Feb 12 (APP):The National Highway Authority (NHA) has completed commercial feasibility study of the Sialkot-Kharian Motorway project while the physical work on the project would start soon. This was informed during a meeting presided over by minister for Planning, Development and Special Initiatives Asad Umar here Friday. The meeting reviewed various projects under PPP… Continue reading Commercial feasibility study of Sialkot-Kharian motorway completes
Automobile sale rises 44% in January
ISLAMABAD, Feb 11 (APP):Sale of cars in the country increased by 44 per cent in January compared to same month of the preceding year, a data released by Pakistan Automobile Manufacturing Association (PAMA) said on Thursday. Sale of cars rose to 14,543 units in January compared to 10,095 units during same period of previous year.… Continue reading Automobile sale rises 44% in January
FBR directed to expedite process of refunds
ISLAMABAD, Feb 11 (APP): Federal Minister for Finance and Revenue, Dr. Abdul Hafeez Shaikh Thursday directed the Federal Board of Revenue (FBR) to expedite the process of Income Tax refunds of less than Rs.50 million to uphold commitment of the government to facilitate tax payers. The minister was Chairing the 5th meeting of the FBR… Continue reading FBR directed to expedite process of refunds
Rupee gains 04 paisas against US dollar
ISLAMABAD, Feb 10 (APP): The exchange rate of Pakistani rupee strengthened by 04 paisas against the US dollar in the interbank trading on Wednesday and closed at Rs159.30 as compared to the previous day’s closing of Rs159.34. Meanwhile, according to Forex Association of Pakistan, the buying and selling rates of dollar in the open market… Continue reading Rupee gains 04 paisas against US dollar
Soomro for reviving PSM within given time
ISLAMABAD, Feb 09 (APP): Federal Minister for Privatisation Mohammedmian Soomro and Minister for Industries and Production Muhammad Hammad Azhar co-chaired an important meeting to review the progress in the revival of Pakistan Steel Mills (PSM). Federal Minister for Industries and Production Muhammad Hammad Azhar and Chairman of PSM, participated via video link. Federal Secretary Privatisation,… Continue reading Soomro for reviving PSM within given time
Over 62 FMCs established for 9 agriculture business & value chain
ISLAMABAD, Feb 09 (APP): Food and Agriculture Organization (FAO) in collaboration with the Provincial Government of Balochistan have established 62 Farmers Marketing Collectives (FMCs) for 9 different agriculture business and value chain in order to promote the agriculture and livestock sectors in most underdeveloped districts of the province. The initiative was aiming at to improve… Continue reading Over 62 FMCs established for 9 agriculture business & value chain
Services trade deficit shrinks 42.41% in H1, exports increase 13.97% in December
ISLAMABAD, Feb 9 (APP):The country’s services trade deficit contracted by 42.41 percent during the first half (H1) of the current financial year (2020-21) as compared to the corresponding period of last year. The services trade deficit during July-December (2020-21) was recorded at $977.24 million against the deficit of $1696.80 million in July-December (2019-20), according to… Continue reading Services trade deficit shrinks 42.41% in H1, exports increase 13.97% in December
NPMC directs for monitoring chicken, edible oil prices
ISLAMABAD, Feb 08 (APP): The National Price Monitoring Committee (NPMC) on Monday directed provincial and district administrations to proactively monitor the prices of chicken and edible oil in order to ensure smooth supply at fair prices across the country. The NPMC meeting was held at the Finance Division to review the price trend of essential… Continue reading NPMC directs for monitoring chicken, edible oil prices
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