Category: Business

ISLAMABAD, Jul 08 (APP):The Advisor to the Prime Minister on Commerce and Investment, Abdul Razak Dawood on Wednesday said, Information Technology (IT) and Information Technology Enabled Services (ITES) is one of the top priorities of the government to encourage local and foreign investors in local IT sector. The Advisor said “I am glad to see… Continue reading Government to encourage local ,foreign investors in IT Sector: Razak Dawood

ISLAMABAD, July 08 (APP):The government has released funds amounting to Rs287.289 million during the last fiscal year to execute seven petroleum projects under the Public Sector Development Programme (PSDP 2019-20) against the total allocation of Rs 304.997 million. According to the official data as of June 30 that showed a slight readjustment in funds’ allocation… Continue reading Govt releases Rs287.289 million for 7 petroleum sector projects during last FY

ISLAMABAD, Jul 7 (APP):Advisor to Prime Minister on Commerce and Investment, Abdul Razak Dawood Tuesday applauded the exporters on the high-quality performance in financial year 2019-20, despite the very challenging situation due to COVID-19. “Our exports were only 6 percent less in year 2019-20, while our regional country including Bangladesh was down by 17 percent… Continue reading Razak appreciates exporters on high-quality performance in 2019-20

ISLAMABAD, Jul 07 (APP):The Employees’ Old-Age Benefits Institution (EOBI) would pay three-moth arrears amounting to Rs 2.4 billion to around 400,000 registered pensioners with increased annuity in the next month, its Chairman Azhar Hameed said. “Each retired employee registered with the EOBI will get increased pension of Rs 8,500 coupled with Rs 6,000 arrears of… Continue reading EOBI pensioners to get Rs 2.4bln arrears in August with increased annuity: Chairman

ISLAMABAD, Jul 7 (APP):The United States of America (USA) remained the top export destinations of the Pakistani products during the eleven months of current financial year (2019-20), followed by China and United Kingdom (UK). The total exports to the USA during July-May (2019-20) were recorded at US $ 3588.819 million against the exports of US… Continue reading USA, China, UK top three destinations of Pakistani exports: SBP

ISLAMABAD, Jul 07 (APP):The federal government has authorized release of Rs 644.7 billion for various ongoing and new social sector uplift projects during under its Public Sector Development Programme (PSDP) 2019-20, as against the total allocation of Rs701 billion. Out of total releases, foreign funding include Rs 123.6 billion while the rest Rs 521.1 billion… Continue reading Gov’t authorizes release of Rs 644.7 bn for development projects in FY20

ISLAMABAD, Jul 06 (APP):Ambassador of Japna Matsuda Kuninori on Monday showed keen interest for developing mutual agricultural research and importing Basmati rice from Pakistan in order to further strengthen bilateral trade and economic cooperation between the two countries. The ambassador called on Minister for National Food Security and Research Syed Fakhar Imam and discussed ways… Continue reading Japan keen to import Basmati rice, establishing mutual agriculture research

ISLAMABAD, Jul 06 (APP):Minister for Planning and Development Asad Umar Monday said the government was committed to complete the projects under China Pakistan Economic Corridor (CPEC). In his tweet, he said the government was also committed to produce indigenous clean energy. “The signing of 1.5 billion dollars 700 MW Azad Pattan hydro power project, days… Continue reading Govt committed to complete CPEC projects: Asad Umar

ISLAMABAD, July 06 (APP):Special Assistant to Prime Minister (SAPM) on Petroleum Nadeem Babar and Minister of State for Narcotics Control Shehryar Khan Afridi Monday chaired a meeting to review progress on Exploration and Production (E&P) companies’ CSR activities being under taken in oil and gas producing districts Karak and Kohat of Khyber Pakhtunkhwa. The SAPM… Continue reading Nadeem, Afridi review progress on E&P companies’ CSR activities in Karak, Kohat

ISLAMABAD, Jul 06 (APP):Minister for National Food Security and Research Syed Fakhar Imam on Monday reiterated the government resolve for making Balochistan as hub of organic agriculture, particularly to produce cotton in order to bring economic stability in the country and social prosperity of the province. While chairing the meeting on working of Federal Seed… Continue reading Imam reiterates for making Balochistan hub for organic agriculture

KARACHI, Jul 06 (APP):The State Bank of Pakistan on Monday announced to expand the scope of the refinance facility that was announced on March 17, 2020, titled Refinance Facility to Combat Covid-19 (RFCC), to support the hospitals and health sector for providing services to directly fight against COVID-19. The banks provide concessional loans at a… Continue reading SBP enhances scope of refinance facility to support health facilities

KARACHI, Jul 06 (APP):The Foreign Exchange Rates Committee of Financial Market Association of Pakistan issued the following Base Rate, here on Monday. FOREIGN CURRENCY ACCOUNTS SCHEME BBA BID MAXIMUM RATES R A T E S FOR PAYMENT OF WITH INTEREST BY VALUE DATE AUTHORIZED DEALERS U.S. DOLLARS VALUE 06 07 20 For 3 months and… Continue reading Foreign Currency Account Scheme

KARACHI, Jul 06 (APP):The Exchange Rates Committee of Financial Markets Association of Pakistan issued the following exchange rates bulletin, here on Monday. 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 0.3661 06.07.2020 CONVERSION RATES FOR 6TH JULY 2020… Continue reading Foreign exchange rates

KARACHI, Jul 06 (APP):Treasury Management Division of National Bank of Pakistan (NBP) on Monday issued the following exchange rates. CURRENCY SYMBOL TT Selling TT Buying U.S DOLLAR USD 166.70 166.20 EURO EUR 188.07 187.50 JAPANESE YEN JPY 1.5477 1.5431 BRITISH POUND GBP 208.20 207.57 SWISS FRANC CHF 176.72 176.17 CANADIAN DOLLAR CAD 123.10 122.72 AUSTRALIAN… Continue reading NBP Exchange Rates

ISLAMABAD, Jul 05 (APP):President SAARC Chamber of Commerce and Industry Iftikhar Ali Malik Sunday called for increased level of coordination and connectivity among the SAARC member states for a prosperous region. The organisation needs to work towards achieving economic, cultural and social growth of the region, he said while talking to a business delegation which… Continue reading President SAARC CCI called for increased level of connectivity among SAARC members

ISLAMABAD, Jul 05 (APP):The local Chinese digital company “Dazaran’ has initiated the E-commerce platform to promote digital retail businesses for providing facilities to the people of twin cities of Rawalpindi and Islamabad. “We are starting new trends of business to promote buying and selling of cattles through digital app and also provide all major services… Continue reading Dazaran initiates E-commerce platform to promote digital retail during EID festival

ISLAMABAD, Jul 04 (APP):The Ambassador of People’s Republic of China to Pakistan, Yao Jing Saturday called on the Advisor to the Prime Minister on Commerce and Investment, Abdul Razak Dawood to discuss the opening of Khunjarab border as well as strategies to exploit bilateral trade and investment opportunities in the wake of corona pandemic. The… Continue reading Razak to discuss opening of Khunjarab border with China in COVID-19

ISLAMABAD, Jul 04 (APP):Federation of Pakistan Chambers of Commerce and Industry (FPCCI’s) Businessmen Panel on Saturday congratulates Iftikhar Ali Malik and Senator Haji Ghulam Ali a veteran trade leaders who took over as the new President and Vice President of the SAARC Chamber of Commerce and Industry (SAARC CCI) for the two years term. Chairman… Continue reading Businessmen Panel congratulates Iftikhar Malik, Senator Ghulam Ali on assuming charge of SAARC CCI