State Bank calls meeting of bank presidents on Naya Pakistan Housing Program

KARACHI, Jun 17 (APP):State Bank of Pakistan (SBP) Governor Dr. Reza Baqir called a meeting of banks on Wednesday for deliberations on the measures proposed by Naya Pakistan Housing and Development Authority (NAPHDA) and identify way forward to ensure sustainable market-led financing of housing projects and mortgages. The meeting was chaired by the Governor SBP… Continue reading State Bank calls meeting of bank presidents on Naya Pakistan Housing Program

ECC approves many grants, Rs100 m for locust control in Punjab

ISLAMABAD, Jun 17 (APP):The Economic Coordination Committee (ECC) of the Cabinet Wednesday approved many technical supplementary grants, including Rs 100 million for the National Disaster Management Authority (NDMF) to procure equipment for locust control in Punjab The ECC meeting was chaired by Adviser to the Prime Minister on Finance and Revenue Dr Abdul Hafeez Shaikh,… Continue reading ECC approves many grants, Rs100 m for locust control in Punjab

Work on CPEC projects recently gains momentum : Asim Bajwa

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ISLAMABAD, Jun 17 (APP):Special Assistant to Prime Minister on Information and Broadcasting, General (retd) Asim Saleem Bajwa Wednesday said pace of work on China Pakistan Economic Corridor (CPEC) had been increased during recent days. In a tweet, rejecting the false impression about slowing down of the mega project, he said “some detractors are giving false… Continue reading Work on CPEC projects recently gains momentum : Asim Bajwa

Revenue target of Rs4.9 trillion achievable: Hafeez Shaikh

ISLAMABAD, Jun 16 (APP):Advisor to Prime Minister on Finance and Revenue, Dr. Abdul Hafeez Shaikh said Tuesday that the revenue target of Rs4900 billion, set for the fiscal year 2020-21 was achievable, however linked it with decline of coronavirus pandemic. Addressing the webinar, organized by Institute of Chartered Accountants of Pakistan (ICAP), on “Pakistan Post-Covid-19… Continue reading Revenue target of Rs4.9 trillion achievable: Hafeez Shaikh

Groundbreaking of ML-1 project likely during FY21

ISLAMABAD, Jun 16 (APP):After approval of the historic railway project for up-gradation of main line (ML-1) from Karachi to Peshawar by the Central Development Working Party (CDWP), the government is expecting that groundbreaking of the project would be held by February-March 2021. According to budgetary documents, the concessional financing agreement for landmark ML-1 project (estimated… Continue reading Groundbreaking of ML-1 project likely during FY21

National Savings collects target of Rs 355 billion till June 15

ISLAMABAD, Jun 16 (APP):The Central Directorate of National Savings (CDNS) has achieved a collection net target of Rs 355 billion in the current fiscal year till June 15. CDNS has set Rs 360 billion annual collection target for the year 2019-20 as compared to Rs 350 billion for the previous year’s 2018-19 to enhance savings… Continue reading National Savings collects target of Rs 355 billion till June 15

Value addition, branding must for enhancing agriculture products exports

ISLAMABAD, Jun 15 (APP):Minister for National Food Security and Research Syed Fakhar Imam on Monday informed the National Assembly, Special Committee on Agriculture products that value addition and branding was vital to enhance local exports of mangoes to get better rate of return in international markets. The committee which met here with Speaker National Assembly,… Continue reading Value addition, branding must for enhancing agriculture products exports

Punjab Governor greets Iftikhar Malik for becoming SAARC chamber president

ISLAMABAD, Jun 15 (APP):Punjab Governor Chaudhry Muhammad Sarwar Monday congratulated veteran business leader Iftikhar Ali Malik for becoming president of the SAARC Chamber of Commerce and Industry (CCI) for two years term and hoped that he will continue to exploit his potentials for the promotion of trade and industry in South Asia. Governor Punjab Ch… Continue reading Punjab Governor greets Iftikhar Malik for becoming SAARC chamber president

COVID-19 not an excuse, virtually inflicts heavy loss to economy: Hafeez Shaikh

ISLAMABAD, Jun 13 (APP):Adviser to the Prime Minister on Finance Dr Abdul Hafeez Shaikh Saturday said the coronavirus pandemic was not an excuse as it had brought difficult times for the country by virtually inflicting a loss of around Rs 3,000 billion to the national economy. Exact loss to the economy could not be estimated… Continue reading COVID-19 not an excuse, virtually inflicts heavy loss to economy: Hafeez Shaikh

Gov’t withdraws import duties of Rs 50 bn

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ISLAMABAD, Jun 13 (APP):Advisor to the Prime Minister on Finance and Revenue, Dr Abdul Hafeez Shaikh on Saturday said that promoting industrialization and private business sector was the government’s top priority which reflected in the budget proposals for the year 2020-21 as import duties of over Rs 50 billion on various tariff lines had been… Continue reading Gov’t withdraws import duties of Rs 50 bn

Business community hails federal budget 2020-21 at wake of COVID-19 impact

ISLAMABAD, Jun 13 (APP):Business community on Saturday termed the federal budget 2020-21 as tax free and balanced in prevailing circumstances in light of COVID-19 impact. Commenting on the budget today, Central Chairman United Business Group (UBG) Iftikhar Ali Malik hailed the reforms for ease of doing and said that the measures introduced in the budget… Continue reading Business community hails federal budget 2020-21 at wake of COVID-19 impact

Federal Govt unveils Rs1.324 trillion development budget

ISLAMABAD, Jun 12 (APP):Pursuing an approach of balanced development across the country to help promote harmony and national integration, the government on Friday unveiled Rs 1.324 trillion Public Sector Development Programme (PSDP) for the fiscal year 2020-21, with special focus on under and less developed areas. Out of the total PSDP outlay, Rs 650 billion… Continue reading Federal Govt unveils Rs1.324 trillion development budget

Rs 80 million allocated for BOI in PSDP 2020-21

ISLAMABAD, Jun 12 (APP):The government has allocated Rs80 million in Public Sector Development Programme (PSDP) 2020-21 for one on- going scheme of the Board of Investment (BOI) for the industrial promotion and Investment in the country. According to the details, the government has allocated Rs80 million for establishment of Project Management Unit (PMU) on China… Continue reading Rs 80 million allocated for BOI in PSDP 2020-21

Highlights of Economic Survey of Pakistan 2019-20

ISLAMABAD, Jun 11 (APP):Adviser to Prime Minister on Finance and Revenue Dr Abdul Hafeez Shaikh on Thursday launched Economic Survey of Pakistan 2019-20. Following are the highlights of survey: ** Provisional GDP growth estimated negative 0.38% ** Agriculture sector grew by 2.67% ** Cotton production reduced 6.9% ** wheat production grew by 2.5% ** Rice… Continue reading Highlights of Economic Survey of Pakistan 2019-20

Pakistan faces over 2 BCFD gap between production & demand of natural gas

ISLAMABAD, June 11 (APP):The government on Thursday said there was a gap of over 2 Billion Cubic Feet per day gas between production and demand of the commodity to meet requirements of more than 9.6 million consumers across the country. According the Economic Survey 2019-20 unveiled by Adviser to Prime Minister on Finance and Revenue… Continue reading Pakistan faces over 2 BCFD gap between production & demand of natural gas

NHA playing vital role in improving connectivity and competitiveness of businesses: Economic Survey

ISLAMABAD, Jun 11 (APP):National Highway Authority (NHA) has been playing a vital role in improving the productivity and competitiveness of businesses, and the quality of travel with an emphasis on safety, apart from creating job opportunities, said Economic Survey 2019-2020 release here on Thursday. Pakistan is virtually bisected into two halves by River Indus and… Continue reading NHA playing vital role in improving connectivity and competitiveness of businesses: Economic Survey

Textile exports maintains about 59%: PES 2019-20

ISLAMABAD, Jun 11 (APP):Textile exports of the country maintained about 59 percent, according to Pakistan Economic Survey (PES) 2019-20. Textile is the most important manufacturing sector of Pakistan and has the longest production chain, with inherent potential for value addition at each stage of processing, from cotton to ginning, spinning, fabric, dyeing and finishing, made-ups… Continue reading Textile exports maintains about 59%: PES 2019-20

Auto industry performance remains slow during current financial year (2019-20)

ISLAMABAD, Jun 11 (APP):The performance of auto industry remained sluggish during the current financial year, except buses where it witnessed growth of 17 percent during July-March 2019-20. According the Economic Survey 2019-20 launched here on Thursday, during the period from July-March 2019-20, the farm tractor sector massively declined by 28.7 percent as the production recorded… Continue reading Auto industry performance remains slow during current financial year (2019-20)

Public debt recorded at Rs 35,207 bln by March end

ISLAMABAD, Jun 11 (APP):Pakistan’s total public debt was recorded at Rs 35,207 billion by end March 2020 compared with Rs 32,708 billion at end June 2019, registering an increase of Rs 2,499 billion during first nine month of current fiscal year. According to Pakistan Economic Survey, the federal government borrowing for financing of its deficit… Continue reading Public debt recorded at Rs 35,207 bln by March end

Agriculture sector grew by 2.67% in 2019-20: Economic Survey

ISLAMABAD, Jun 11 (APP): The outbreak of deadly Corona virus, which had badly affected the global economies also negatively impacted the national economy and performance of all major sectors remained dismal during the outgoing fiscal year (2019-20). However, during period under review, the agriculture sector performed well as it recorded strong growth of 2.67 percent… Continue reading Agriculture sector grew by 2.67% in 2019-20: Economic Survey

Category: Business

Business news from Pakistan