China’s 5G industry creates massive direct economic output

ISLAMABAD, Apr 20 (APP):The China’s 5G industry created massive direct economic output in 2020, according to a new report. Last year, 5G directly led to 810.9 billion yuan (125 billion U.S. dollars) in gross economic output, according to a report on 5G development and its economic and social impact. The China Academy of Information and… Continue reading China’s 5G industry creates massive direct economic output

Rs 5.5bln given for providing substantial relief to people. Buzdar

LAHORE, Apr 19 (APP): The Punjab government has given Rs 5.5 billion special package to provide substantial relief to people in Ramazan, and Punjab was the only province where fruits of the Ramazan relief package were reaching people. In a statement issued here on Monday, he said that Rs 2.4 billion subsidy had been given… Continue reading Rs 5.5bln given for providing substantial relief to people. Buzdar

Finance Minister evaluates PBS’ data collection, analytical techniques

ISLAMABAD, Apr 19 (APP): Federal Minister for Finance and Revenue, Shaukat Tarin on Monday had an introductory meeting with Secretary Planning, Development and Special Initiatives/ Chief Statistician, to evaluate the current techniques of data collection and analysis used by the Pakistan Bureau of Statistics (PBS). According to press statement issued by the Finance Minister, the… Continue reading Finance Minister evaluates PBS’ data collection, analytical techniques

Oil import bill shrinks by 15.13% to $7.553 billion 3 quarters

ISLAMABAD, Apr 19 (APP): The country’s oil import bill witnessed reduction of 15.13 percent during the first three quarters of the current fiscal year as compared to the corresponding period of last year. The country imported oil products worth US $7553.912 million during July-March (2020-21) against the imports of $8900.622 million during July-March (2019-20), showing… Continue reading Oil import bill shrinks by 15.13% to $7.553 billion 3 quarters

Non-compliance of SOPs can be huge mistake: Asad warns

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ISLAMABAD, Apr 19 (APP): Minister for Planning, Development and Special Initiatives Asad Umar on Monday said due to non-compliance of the Standard Operating Procedures (SOPs) set to control spread of COVID-19, the situation in the country was getting worse. In his tweet, he said oxygen supply capacity in the country was now under stress and… Continue reading Non-compliance of SOPs can be huge mistake: Asad warns

Rs492.772 bn released for social sector uplift projects

ISLAMABAD, Apr 19 (APP): Federal Government has released Rs. 500.942 billion out of total allocation of Rs 650 billion for various ongoing and new social sector uplift projects till date under its Public Sector Development Programme (PSDP) 2020-21. The released funds include Rs. 321.55 billion for federal ministries, Rs.148.65 billion for corporations, Rs. 29.54 billion… Continue reading Rs492.772 bn released for social sector uplift projects

All resources being used for industrial development: Aslam Iqbal

LAHORE, Apr 16 (APP): Punjab Minister for Industries and Commerce Mian Aslam Iqbal Friday said that in line with the vision of Prime Minister Imran Khan, all resources were being utilised for industrial development and elimination of unemployment. He was presiding over a meeting, called to review progress of development works at industrial estates working… Continue reading All resources being used for industrial development: Aslam Iqbal

PSX gains 75 points to close at 45,305 points

ISLAMABAD, Apr 16 (APP): The KSE-100 index of the Pakistan Stock Exchange (PSX) Friday witnessed bullish trend, gaining 75.45 points, with positive change of 0.17 per cent, closing at 45,305.63 points against 45,230.18 points on the last working day. A total 173,522,529 shares were traded during the day compared to the trade of 347,665,735 shares… Continue reading PSX gains 75 points to close at 45,305 points

Hammad stresses for timely completion of power sector reforms

ISLAMABAD, Apr 16 (APP): Federal Minister for Finance, Revenue, Industries and Production, Muhammad Hammad Azhar Friday stressed the need to follow a structured approach for timely completion of envisaged reforms in the power sector. The federal minister was chairing a meeting to review progress on reforms in the power sector, according to press statement issued… Continue reading Hammad stresses for timely completion of power sector reforms

SECP automates Ultimate Beneficial Ownership Form for companies

ISLAMABAD, Apr 15 (APP): The Securities and Exchange Commission of Pakistan (SECP) has launched a facility on its eService portal for online submission of statutory Form-45, required to submit the declaration of ultimate beneficial ownership (UBO), under Section 123A of the Companies Act, 2017. “This is another forward step to promote the beneficial ownership transparency,”… Continue reading SECP automates Ultimate Beneficial Ownership Form for companies

PSX loses 81 points to close at 45,230 points

ISLAMABAD, Apr 15 (APP):KSE-100 index of the Pakistan Stock Exchange (PSX) Thursday witnessed bearish trend, losing 81.04 points, with negative change of 0.18 per cent, closing at 45,230.18 points against 45,311.22 points on the last working day. A total 347,665,735 shares were traded during the day compared to the trade of 341,889,381 shares the previous… Continue reading PSX loses 81 points to close at 45,230 points

Pakistan, Japan to further expand economic cooperation

ISLAMABAD, Apr 15 (APP):Pakistan and Japan on Thursday reviewed spectrum of business and investment relations, identified areas for further strengthening and expanding economic cooperation between the two countries. The bilateral issues of mutual interest came up to discussion during a call-on meeting of Ambassador of Japan, Kuninori Matsuda with Federal Minister for Finance, Revenue, Industries… Continue reading Pakistan, Japan to further expand economic cooperation

E&P companies’ delegation calls on Omar Ayub

ISLAMABAD, Apr 15 (APP):A delegation, comprising heads of different Exploration and Production (E&P) companies, Thursday called on Minister for Energy Omar Ayub Khan and discussed matters related to the oil and gas sector. The chief executive officers of E&P companies including Dewan Group, Orient Petroleum, Oil and Gas Development Company, Pakistan Petroleum Limited, Mari Petroleum,… Continue reading E&P companies’ delegation calls on Omar Ayub

PSX best performing markets in Asian region: MD PSX

ISLAMABAD, Apr 15 (APP):Managing Director and Chief Executive Officer (CEO) of Pakistan Stock Exchange (PSX) Farrukh H. Khan on Thursday said stock market of Pakistan was one of the best performing markets in Asian region and major player in the market. This was in a large part due to the proactive and aggressive monetary, fiscal,… Continue reading PSX best performing markets in Asian region: MD PSX

BOI briefs UN forum on facilities offers for foreign investors

ISLAMABAD, Apr 15 (APP):The Board of Investment (BOI) has briefed the United National economic and investment forum about Pakistan’s investment regime and facilitation. It also apprised the forum about wide range of services provided by the government to international and domestic investors including support with work visa and opening of branch/liaison offices in the country.… Continue reading BOI briefs UN forum on facilities offers for foreign investors

Spices import increased 31.32% in 8 months

ISLAMABAD, Apr 15 (APP):The import of spices into the country has witnessed an increase of 31.32 percent during eight months of the current financial year (2020-21) as compared to the corresponding period of last year. Pakistan imported spices worth US $138.361 million during July-February (2020-21) as compared to the imports of US $105.365 million during… Continue reading Spices import increased 31.32% in 8 months

BOI presented Pakistan’s investment strategy in UN forum

ISLAMABAD, Apr 14 (APP): The Board of Investment (BOI) on Wednesday presented Pakistan’s Investment Strategy and Sustainable Development Goals (SDGs) Projects at SDG Investment Fair 2021. While Federal Secretary of BOI, Fareena Mazhar informed that BOI has a repository of over $14 billion SDG aligned projects in the sector of transport and communication, energy including… Continue reading BOI presented Pakistan’s investment strategy in UN forum

ECC withdraws customs duty on cotton yarn import

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ISLAMABAD, Apr 14 (APP): The Economic Coordination Committee (ECC) of the Cabinet Wednesday withdrew Customs Duty on import of cotton yarn till June 30,2021, to ensure smooth supply of the commodity to the value-added industry, while bridging the gap between domestic production and overall demand for the inputs. The summary for withdrawal of Customs Duty… Continue reading ECC withdraws customs duty on cotton yarn import

Traders of SAARC region urged to reduce 50 percent profit during Ramzan

ISLAMABAD, Apr 14 (APP):SAARC Chamber of Commerce and Industry ,an apex body in the region,Wednesday urged the traders of Pakistan, Bangladesh, Afghanistan, Maldives and India to reduce 50 percent profit to provide solace to the poor strata of the society during the holy month of Ramadan. Talking to a delegation of traders, President SAARC chamber… Continue reading Traders of SAARC region urged to reduce 50 percent profit during Ramzan

Fiscal stimulus improves economy, strengthens recovery prospects

ISLAMABAD, Apr 14 (APP): The government’s fiscal stimulus has succeeded in improving economic as well as social outlook, strengthening the prospects of the country’s economic recovery as indicated by various indicators. “The expectations of economic recovery are strengthening on the basis of improvement in business confidence evident from industrial growth,” official sources said adding the… Continue reading Fiscal stimulus improves economy, strengthens recovery prospects

Category: Business

Business news from Pakistan