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
Category: Business
Business news from Pakistan
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
ISLAMABAD, Nov 15 (APP): Advisor to Prime Minister on Commerce and Investment Abdul Razak Dawood Sunday said that a trade delegation would leave for Afghanistan on Monday (Nov 16) to further boost bilateral trade ties. The delegation will start discussions on a new era of trade and investment cooperation so that the two economies may… Continue reading Trade delegation to visit Afghanistan on Monday to heighten bilateral trade: Dawood
PTI incurred 48% less external liabilities than PML-N: Hafeez
ISLAMABAD, Nov 14 (APP): Adviser to Prime Minister on Finance and Revenue, Dr. Abdul Hafeez Shaikh said that the Pakistan Tehreek-i-Insaf (PTI) government incurred 48 percent less external liabilities in first nine quarters of its tenure compared to Pakistan Muslim League (N) government’s last 9 quarters. During the period, the PTI government repaid 78 percent… Continue reading PTI incurred 48% less external liabilities than PML-N: Hafeez
Govt sets target in revenue collection, FBR reforms: Dr Waqar
ISLAMABAD, Nov 13 (APP): Special Assistant to Prime Minister on Revenue, Dr Waqar Masood on Friday said that incumbent government has set targets in revenue collection and reforms in federal board of revenue. The people should come voluntarily to deposit the taxes so that progress could be made in revenue field, he stated in an… Continue reading Govt sets target in revenue collection, FBR reforms: Dr Waqar
Hafeez urges technical committee to ensure clarity in revenue collection
ISLAMABAD, Nov 13 (APP): Adviser to the Prime Minister on Finance and Revenue, Dr. Abdul Hafeez Shaikh Friday urged the technical committee to simplify relevant procedures to ensure clarity and transparency in revenue collection. He was chairing a virtual meeting of Federal Board of Revenue (FBR) Technical Committee, said a press release issued here. Chairman… Continue reading Hafeez urges technical committee to ensure clarity in revenue collection
FBR develops E-Commerce Automated Clearance System
ISLAMABAD, Nov 13 (APP): The Pakistan Customs has developed an e-Commerce automated clearance facility in collaboration with Sate Bank of Pakistan (SBP), Ministry of Commerce and e-commerce operators. The facility would help promote Consumer e-Commerce exports, according to press statement issued by the Federal Board of Revenue (FBR) here on Friday. The new system would… Continue reading FBR develops E-Commerce Automated Clearance System
LSMI output grows 7.65% in September, 4.81% in Q1
ISLAMABAD, Nov 13 (APP):The Large Scale Manufacturing Industries (LSMI) production grew by 7.65 percent on year-on-year basis during the month of September 2020 as compared to the corresponding month of last year, Pakistan Bureau of Statistics (PBS) reported. LSMI Quantum Index Number (QIM) was recorded at 138.03 points during September 2020 against 128.22 points during… Continue reading LSMI output grows 7.65% in September, 4.81% in Q1
Hafeez directs advisory committee for early hiring of consultant to sale out NGMS spectrum
ISLAMABAD, Nov 12 (APP): Adviser to the Prime Minister on Finance and Revenue Dr Abdul Hafeez Shaikh Thursday directed the Advisory Committee for the release of unsold spectrum of Next Generation Mobile Services (NGMS) to complete the task of the hiring of the consultant at the earliest for the sale of available spectrum. Chairing the… Continue reading Hafeez directs advisory committee for early hiring of consultant to sale out NGMS spectrum
Workers’ remittances up 14.1% to $2.3bln in October, witness 26.4% growth in 4 months
ISLAMABAD, Nov 12 (APP): The Workers’ remittances mounted to $ 2.3 billion during October 2020, showing an increase of 14.1 percent during the month under review when compared to October 2019. This is for the fifth consecutive month that workers’ remittances remained above $2.0 billion for in October 2020, according to latest figures released by… Continue reading Workers’ remittances up 14.1% to $2.3bln in October, witness 26.4% growth in 4 months
SBP initiatives help reduce pace of Non-Performing Loans
ISLAMABAD, Nov 12 (APP):The increase in Non-Performing Loans (NPLs) could have been higher, had the State Bank of Pakistan (SBP) not allowed banks to consider the deferment and restructuring or rescheduling of loans on borrowers’ request, according to Mid-Year Performance Review of the Banking Sector. In its Mid-Year Performance Review of the Banking Sector (January-June… Continue reading SBP initiatives help reduce pace of Non-Performing Loans
Despite COVID-19 impacts, banking sector assets expand 7.8 percent: SBP
ISLAMABAD, Nov 11 (APP): The State Bank of Pakistan Wednesday said that despite elevated economic stress driven by the COVID-19 pandemic, the assets of the banking sector witnessed a decent expansion of 7.8 percent during the first half of the calendar year 2020 (H1CY20). The central bank Wednesday issued the Mid-Year Performance Review (MPR) of… Continue reading Despite COVID-19 impacts, banking sector assets expand 7.8 percent: SBP
Bulls rule PSX for 3rd consecutive day, index mounts to 41,197 points
ISLAMABAD, Nov 11 (APP): The Pakistan Stock Exchange (PSX) witnessed bullish trend for the third consecutive day on Wednesday as the KSE-100 index closed at 41,197 points against 41,153 points on the last working day, with positive change of 44.27 points (0.11%). A total 244,284,313 shares valuing Rs 8.648 billion were traded during the day… Continue reading Bulls rule PSX for 3rd consecutive day, index mounts to 41,197 points
Around 4.37% surplus witnessed in Pak-UK trade: SBP
ISLAMABAD, Nov 11 (APP): Pakistan’s goods and services trade with United Kingdom (UK) witnessed surplus of 4.37 percent during first three months of current financial year (2020-21) as compared to the corresponding period of last year. The overall surplus was recorded at US $252.8 million July-September (2020-21) against US $242.2 million during July-September (2019-20), showing… Continue reading Around 4.37% surplus witnessed in Pak-UK trade: SBP
CPEC Central Asia Business Conference to be held in Gwadar from Nov 16
ISLAMABAD, Nov 11 (APP): The Rawalpindi Chamber of Commerce and Industry (RCCI) is going to hold a three-day business conference titled “China Pakistan Economic Corridor (CPEC) Central Asia” in Gwadar from November 16 to 18. The conference would be attended by Chief Minister, Governor Balochistan, ministers, high government officials, foreign diplomats, and trade and industrial… Continue reading CPEC Central Asia Business Conference to be held in Gwadar from Nov 16
Forensic audit team formed to analyze dry/shut-in oil, gas wells
ISLAMABAD, Nov 10 (APP): Amid fast depletion of existing hydrocarbon deposits and increased energy demand, the Petroleum Division has constituted a team to conduct a forensic audit of the dry/shut-in wells drilled in different parts of the country by oil and gas Exploration & Production (E&P) companies. “A four-member core committee has been constituted under… Continue reading Forensic audit team formed to analyze dry/shut-in oil, gas wells
PSX continues with bullish trend, gains 369 points to close at 41,153 points
ISLAMABAD, Nov 10 (APP):The Pakistan Stock Exchange (PSX) continued with bullish trend on second day of the week on Tuesday as the KSE 100 index closed at 41,153 points against 40,784 points on the last working day, with positive change of 369.01 points (0.90%). A total 355,986,126 shares were traded during the day compared to… Continue reading PSX continues with bullish trend, gains 369 points to close at 41,153 points
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