SBP approves Rs 238.2 bn for 2,958 businesses under Rozgar scheme

ISLAMABAD, Nov 27 (APP):State Bank of Pakistan (SBP) under its Rozgar scheme for protecting businesses and employees, working with them, from the impact of COVID-19 has so far approved Rs 238.2 billion for 2,958 businesses. Similarly, under its refinancing scheme for protecting businesses from the impact of COVID-19, the central bank has so far deferred… Continue reading SBP approves Rs 238.2 bn for 2,958 businesses under Rozgar scheme

ADB to provide $300 mln for macroeconomic stability in Pakistan

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ISLAMABAD, Nov 27 (APP):The Asian Development Bank (ADB) has approved a $300 million policy-based loan to help promote macroeconomic stability in Pakistan by facilitating improved trade competitiveness and export diversification. “While COVID-19 hit Pakistan at a critical point in its macroeconomic recovery, the government’s ongoing efforts to ensure stability have started showing encouraging results this… Continue reading ADB to provide $300 mln for macroeconomic stability in Pakistan

Gold imports decline 58.54% in 4 months

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ISLAMABAD, Nov 27 (APP): The imports of gold witnessed decline of 58.54 percent during the first four months of the current fiscal year as compared to the corresponding period of last year. The gold imports during July-October (2020-21) were recorded at $2.341 million against the imports of $5.647 million during July-October (2019-20), showing a decline… Continue reading Gold imports decline 58.54% in 4 months

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

Posters against DDC elections reiterate ‘IIOJ&K’s freedom the only way’

ISLAMABAD, Nov 24 (APP):In Indian illegally Occupied Jammu and Kashmir (IIOJ&K), posters have appeared at several districts, persuading people not to participate in the upcoming District Development Council (DDC) elections which are aimed at furthering the occupation and hoodwinking the world on existing grave situation of Kashmir. “There is only one way and that is… Continue reading Posters against DDC elections reiterate ‘IIOJ&K’s freedom the only way’

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

Vietnam's export up slightly in 8 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

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

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

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

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

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

PBS launches dashboards to provide time series and info-graphic data

ISLAMABAD, Nov 10 (APP):The Pakistan Bureau of Statistics (PBS) on Tuesday launched two dashboards, including PSLM_SDGs and Price, under its Digital Transformation initiative to provide latest information along with time series and info-graphic of data. The dashboards have been launched for achieving the bureaus objective of collecting, compiling and disseminating of data in reliable and… Continue reading PBS launches dashboards to provide time series and info-graphic data

PSX turns around, gains 52 points to close at 40,784points

ISLAMABAD, Nov 9 (APP):The Pakistan Stock Exchange (PSX) Monday turned around and witnessed bullish trend as the KSE 100 index closed at 40,784 points against 40,731 points on the last working day, with positive change of 52.43 points (0.13%). A total 276,797,965 shares were traded during the day compared to the trade of 350,438,388 shares… Continue reading PSX turns around, gains 52 points to close at 40,784points

China remains top importer, trades products over $2763 mln to Pakistan

ISLAMABAD, Nov 5 (APP):China topped the list of countries from where Pakistan imported different products during the first quarter (Q1) of the current fiscal year (2020-21), followed by United Arab Emirates (UAE) and Singapore. The total imports from China during July-September (2020-21) were recorded at $2763.528 million against the $2292.749 million during July-September (2019-20), showing… Continue reading China remains top importer, trades products over $2763 mln to Pakistan

Author: Muhammad Ashraf Wani