KARACHI, Nov 27 (APP): The Exchange Rates Committee of Financial Markets Association of Pakistan issued the following exchange rates bulletin, here on Friday. LIBOR FOR CALCULATING INTEREST ON SPECIAL US DOLLAR BONDS VIDE SBP F.E. CIRCULAR NO.42 & 21.07.98 & 04.08.98 RESPECTIVELY. LIBOR VALUE 6 MONTHS US DOLLAR 0.2545 27.11.2020 CONVERSION RATES FOR 27TH NOVEMBER… Continue reading Foreign exchange rates
Category: Business
Business news from Pakistan
Hafeez expresses confidence on P&P Commission for streamlining basic pay
ISLAMABAD, Nov 26 (APP):Advisor to the Prime Minister on Finance and Revenue Dr. Abdul Hafeez Sheikh Thursday expressed confidence that the Pay and Pension Commission would come up with a financially viable solution to streamline the basic pay scales of government employees, admissible allowances and pensions. Addressed the inaugural meeting of the Pay and Pension… Continue reading Hafeez expresses confidence on P&P Commission for streamlining basic pay
Britain offers support to mitigate socio-economic impact of COVID-19
ISLAMABAD, Nov 26 (APP): The British High Commissioner, Christian Turner, Thursday offered to provide all possible help from the British government for the people of Pakistan in mitigating the socio-economic impact of COVID-19 pandemic. The ambassador extended this offer during a call on meeting with Adviser to Prime Minister on Finance and Revenue. Dr. Abdul… Continue reading Britain offers support to mitigate socio-economic impact of COVID-19
Cement exports increase 11.79% during July-October 2020
ISLAMABAD, Nov 26 (APP): The exports of cement from the country witnessed an increase of 11.79 percent during the first four months of ongoing financial year (2020-21) as compare to the corresponding period of last fiscal year. The country exported cement worth US $150.544 million during July-October (2020-21) as against the exports of US $94.409… Continue reading Cement exports increase 11.79% during July-October 2020
Economy heading in right direction: Hafeez Shaikh
ISLAMABAD, Nov 25 (APP): Advisor to Prime Minister Dr Abdul Hafeez Shaikh Wednesday said that due to prudent and timely policies of the Government, the country’s economic revival is taking place and the economy was heading to the right direction. “Large Scale Manufacturing (LSM) has registered 4.8% growth, cement sector 20% growth with 100% capacity… Continue reading Economy heading in right direction: Hafeez Shaikh
Khusro witnesses worth $19.85 million Projects with World Bank
ISLAMABAD, Nov 25 (APP): Federal Minister for Economic Affairs, Makhdum Khusro Bakhtyar witnessed the signing ceremony of grant agreement of “Covid-19 response, recovery and resilience in Education Project” worth US$19.85 million with the World Bank, held on Wednesday in Islamabad. The project is aimed to strengthen and support federal and provincial actions in the education… Continue reading Khusro witnesses worth $19.85 million Projects with World Bank
Hafeez briefs WEF on remarkable economic performance
ISLAMABAD, Nov 25 (APP): Adviser to the Prime Minister on Finance and Revenue Dr. Abdul Hafeez Shaikh Wednesday informed the World Economic Forum (WEF) that Pakistan had witnessed remarkable improvement in fiscal and current account deficits owing to prudent government policies. Addressing the second segment of the plenary session of the World Economic Forum (WEF)… Continue reading Hafeez briefs WEF on remarkable economic performance
Seven hybrid rice varieties approved for commercial cultivation in country
ISLAMABAD, Nov 24 (APP): The Variety Evaluation Committee (VEC) of Pakistan Agriculture Research Council (PARC) here Tuesday approved and recommended seven rice hybrids varieties for commercial cultivation in the country. The VEC meeting held here chaired by Member Plant Sciences, PARC Dr Ghulam Muhammad Ali and discussed in length the availability of hybrid rice varieties… Continue reading Seven hybrid rice varieties approved for commercial cultivation in country
POL import bill shrinks 24.56 pc to $3.153 bln in 4 months
ISLAMABAD, Nov 24 (APP):The imports of overall petroleum group declined by 24.56 percent during the first four months of the current fiscal year (FY2020-21) as compared to the corresponding period of the last year. During the period under review, the total imports of the petroleum group stood at $3.153 billion, as against the imports of… Continue reading POL import bill shrinks 24.56 pc to $3.153 bln in 4 months
PSX gains 230 points to close at 39,863 points
ISLAMABAD, Nov 24 (APP):The KSE-100 index of the Pakistan Stock Exchange (PSX) on Tuesday closed at 39,863 points against 39,632 points on the last working day, with positive change of 230.84 points (0.58%). A total 174,718,733 shares were traded during the day compared to the trade of 195,467,730 shares the previous day whereas the price… Continue reading PSX gains 230 points to close at 39,863 points
CDNS achieves collection of Rs 27 billion by Nov, 18
ISLAMABAD, Nov 24 (APP): The Central Directorate of National Savings (CDNS) has achieved a collective net target of Rs 27 billion by November 18 of fiscal year 2020-21. The CDNS has set Rs 249 billion annual collection target for the year 2020-21 as compared to Rs 352 billion for the previous year’s 2019-20 to enhance… Continue reading CDNS achieves collection of Rs 27 billion by Nov, 18
SBP maintains policy rate at 7pc
ISLAMABAD, Nov 23 (APP):The State Bank of Pakistan (SBP) Monday decided to maintain the policy rate at 7 percent, according to statement issued by the bank. The Monetary Policy Committee (MPC) of the bank during its meeting noted that since the last meeting in September, the domestic recovery has gradually gained traction, in line with… Continue reading SBP maintains policy rate at 7pc
Exports increases 5.98% to Rs1.254 trillion in 4 months
ISLAMABAD, Nov 23 (APP):The exports from the country, in rupee term, increased by 5.98 percent during the first four months of the current fiscal year as compared to the corresponding period of last year. The exports during July–October (2020-21) were recorded at Rs1,254,813 million as against the exports of Rs1,183,957 million during July-October (2019-20), according… Continue reading Exports increases 5.98% to Rs1.254 trillion in 4 months
Pakistan’s WTO’s TFA implementation level reaches 79%: Hafeez Shaikh
ISLAMABAD, Nov 22 (APP): Advisor to Prime Minister on Finance and Revenue, Dr. Abdul Hafeez Shaikh said Sunday that the World Trade Organization’s (WTO) Trade Facilitation Agreement (TFA) implementation level of Pakistan reached 79% in November 2020 from 34% in June 2018. In a tweet, the advisor said that it was greater than India, Bangladesh… Continue reading Pakistan’s WTO’s TFA implementation level reaches 79%: Hafeez Shaikh
Over 87,621 MT tea valuing $188.482 mln imported in 4 months
ISLAMABAD, Nov 22 (APP): Over 87,621 metric tons of tea costing $188.482 million imported during first four months of current financial year as compared the imports of 60,879 metric tons valuing $142.571 million of corresponding period of last year. During the period from July-October, 2020-21, imports of tea into the country witnessed upsurge of 32.20… Continue reading Over 87,621 MT tea valuing $188.482 mln imported in 4 months
Pakistan engaged with IMF to bring review work to completion : Finance Ministry
ISLAMABAD, Nov 21 (APP):The Ministry of Finance on Saturday clarified that Pakistan was closely engaged with the International Monetary fund (IMF) to bring the review work to completion without delay. In a tweet, the ministry dispelled the erroneous impression conveyed by an article published in Financial Times regarding Pakistan’s IMF programme. We would like to… Continue reading Pakistan engaged with IMF to bring review work to completion : Finance Ministry
ECC approves $150 mln for purchase of COVID-19 vaccine
ISLAMABAD, Nov 20 (APP): The Economic Coordination Committee of the Cabinet (ECC) Friday approved in principle, the provision of technical supplementary grant of US $150 million for the purchase of the COVID-19 vaccine. The Ministry of Health briefed the ECC that this would be the first phase of procurement and the amount of vaccine would… Continue reading ECC approves $150 mln for purchase of COVID-19 vaccine
Rice valuing $499.485 million exported in four months
ISLAMABAD, Nov 20 (APP): About 838,770 metric tons of rice valuing $499.485 million exported during first four months of current financial year as compared the exports of 1,176,228 metric tons worth $633.797 million of corresponding period of last year. According the data of Pakistan Bureau of Statistics, rice exports from the country during the period… Continue reading Rice valuing $499.485 million exported in four months
Pakistan to cultivate way long benefits from construction of Dams: Khusro Bakhtyar
ISLAMABAD, Nov 19 (APP): The National Coordination Committee on Foreign-Funded Projects (NCC-FFP) forum on Thursday reviewed progress of the development projects of Water Sector funded by World Bank, Asian Infrastructure Investment Bank, USA, France, Germany, Saudi Fund, Kuwait, and OPEC Fund for International Development (OFID). At present, 15 foreign-funded projects in Water Sector amounting to… Continue reading Pakistan to cultivate way long benefits from construction of Dams: Khusro Bakhtyar
Asad Umar assures to support ICCI for establishment of new industrial estate near Islamabad
ISLAMABAD, Nov 19 (APP): Federal Minister for Planning, Development and Special Initiatives Asad Umar has assured that he would fully support the ICCI in its endeavours for the establishment of a new industrial estate near Islamabad. He stated this while addressing a delegation of Islamabad Chamber of Commerce and Industry (ICCI) which called on him… Continue reading Asad Umar assures to support ICCI for establishment of new industrial estate near Islamabad
- Governor Punjab Balighur Rehman offering Dua after tree planting on the occasion of International Conference on Climate Change at Grand Asian University
- Pakistan, Japan agrees to convene ‘Economic Policy Dialogue’
- Captain New Zealand Cricket team, Michael Bracewell talking the media during a practice session at the Qaddafi Cricket Stadium ahead of the fourth Twenty20 Cricket match between Pakistan and New Zealand Cricket Teams in a five-match Twenty20 series
- Pakistan Cricket Team captain Babar Azam talking to media during a practice session at the Qaddafi Cricket Stadium ahead of the fourth Twenty20 Cricket match between Pakistan and New Zealand Cricket Teams in a five-match Twenty20 series
- Ministers visit Aziz Bhatti Shaheed Hospital following roof collapse incident
