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

Govt ensuring urea supply to farmers at affordable rate: Khusro

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

Pak-Afghan PTA to be finalized by end of January 2021: Dawood

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ISLAMABAD, Nov 18 (APP): Adviser to Prime Minister of Pakistan for Commerce and Investment Abdul Razak Dawood on Wednesday said the Preferential Trade Agreement (PTA) between Pakistan and Afghanistan would be finalized by the end of January, 2021. Similarly, he said, the Afghanistan-Pakistan Transit Trade Agreement (APTTA) would also hopefully be signed in the last… Continue reading Pak-Afghan PTA to be finalized by end of January 2021: Dawood

Govt initiatives promote export growth: Hafeez Shaikh

ISLAMABAD, Nov 18 (APP):Advisor to Prime Minister on Finance and Revenue, Dr Abdul Hafeez Shaikh said Wednesday that the exports from the country were rising due to the export-oriented initiatives introduced by the government. In a tweet, the advisor said, the Pakistan Tehreek-i-Insaf government had ensured market driven exchange rate, competitive energy prices and resolution… Continue reading Govt initiatives promote export growth: Hafeez Shaikh

Govt opening up local markets for foreign investors: Hafeez Shaikh

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ISLAMABAD, Nov 18 (APP): Adviser to the Prime Minister on Finance and Revenue Dr. Abdul Hafeez Shaikh on Wednesday outlined the government policy of opening up local markets for foreign investors and facilitating them for business development besides employment generation in the country. Addressing ‘The Future Summit’ through video link on topic ‘The Future of… Continue reading Govt opening up local markets for foreign investors: Hafeez Shaikh

Pre-COVID-19 economy was on steady recovery, says SBP annual report

ISLAMABAD, Nov 18 (APP):The State Bank of Pakistan (SBP) said Wednesday that following the difficult but necessary stabilization efforts during the first nine months of the fiscal year 2019-20, the country’s economy was well on course for a steady recovery on the eve of Covid-19 pandemic. The State of Pakistan’s Economy for the fiscal year… Continue reading Pre-COVID-19 economy was on steady recovery, says SBP annual report

ADB reaffirms support for development agenda, COVID-19 response

ISLAMABAD, Nov 18 (APP):The Asian Development Bank (ADB) Vice President, Shixin Chen reaffirmed ADB’s support for Pakistan’s development efforts and coronavirus disease (COVID-19) pandemic response during a series of virtual meetings with senior Pakistan government officials. According to an ADB press statement, in a series of meetings from 27 October to 17 November, Chen met with… Continue reading ADB reaffirms support for development agenda, COVID-19 response

Economy picks up, both external, internal sectors showing good performance: Hafeez Shaikh

ISLAMABAD, Nov 17 (APP): Advisor to Prime Minister on Finance and Revenue, Dr Abdul Hafeez Shaikh said Tuesday that economy of the country had picked up as indicated by the performance of both external as well as internal economic sectors. “Good news are coming about economy,” the advisor said during a media briefing here. He… Continue reading Economy picks up, both external, internal sectors showing good performance: Hafeez Shaikh

NA committee passes CPEC Authority (Amendment) Bill 2020

ISLAMABAD, Nov 17 (APP):The National Assembly Standing Committee on Planning, Development and Special Initiatives Tuesday passed the China Pakistan Economic Corridor (CPEC) Authority (Amendment) Bill 2020 with majority votes. The meeting chaired by Junaid Akbar, MNA discussed in detail the draft of the Bill and decided to pass it with majority of votes. The Committee… Continue reading NA committee passes CPEC Authority (Amendment) Bill 2020

Pakistan achieves trade surplus of $210 million with Italy in 2019-20

ISLAMABAD, Nov 17 (APP): Pakistan has achieved a trade surplus of $210 million with Italy during the year 2019-20 as the bilateral trade kept on increasing despite COVID-19 and lockdowns. In Fiscal Year (FY) 2019-20, Pakistan`s exports to Italy stood at $731 million and imports at $521 million. The major exports to Italy include textile,… Continue reading Pakistan achieves trade surplus of $210 million with Italy in 2019-20

ECC forms committee to decide timeline for mango, kinnow export

ISLAMABAD, Nov 16 (APP): The Economic Coordination Committee – ECC of the Cabinet at Cabinet Division Monday constituted a committee to decide a timeline for export of Mango and Kinnow after due consultation with the stakeholders. The committee consisting of representatives from the Ministry of Commerce and Ministry of National Food Security and Research (MNFS&R),… Continue reading ECC forms committee to decide timeline for mango, kinnow export

Turkish companies keen for setting up industrial units in Pakistan

ISLAMABAD, Nov 16 (APP):Turkish companies on Monday expressed their keen interest for setting up industrial units in Pakistan to start production activities to meet the needs of the construction industry. Interest to this effect was shown by a delegation of Turkish companies that visited Islamabad Chamber of Commerce and Industry, said a press release. Mustafa… Continue reading Turkish companies keen for setting up industrial units in Pakistan

Banking sector Investments surge by Rs2 trillion: SBP

ISLAMABAD, Nov 16 (APP): The investments of the banking sector, amid weaker demand for advances and abundant liquidity, surged by Rs2 trillion during the first half (H1) of Calendar Year 2020 (CY20), State Bank of Pakistan (SBP) Reported. According to Mid-Year Performance Review of the Banking Sector (January-June 2020), the investments in government securities explain… Continue reading Banking sector Investments surge by Rs2 trillion: SBP

Local POL production increase by 2.75% in Q1

ISLAMABAD, Nov 15 (APP): Overall production of petroleum commodities has witnessed an increase of 2.75 percent during the first quarter (Q1) of financial year 2020-21 as compared to corresponding period of 2019-20. POL products that showed positive growth include Kerosene Oil the production of which increased by 35.35 percent during the period under review, Pakistan… Continue reading Local POL production increase by 2.75% in Q1

Govt further slashes petrol prices

ISLAMABAD, Nov 15 (APP): The Government on Sunday announced reduction in the prices of petroleum products for the next fortnight. The new price for Ms petrol has been slashed by Rs 1.71 and high speed diesel by Rs.1.79, a notification said. The new prices of petroleum products will be as under: Ms petrol Rs. 100.69… Continue reading Govt further slashes petrol prices

Trade delegation to visit Afghanistan on Monday to heighten bilateral trade: Dawood