KARACHI, Jan 25 (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 160.95 160.45 EURO EUR 195.94 195.33 JAPANESE YEN JPY 1.5511 1.5463 BRITISH POUND GBP 220.53 219.85 SWISS FRANC CHF 181.80 181.24 CANADIAN DOLLAR CAD 126.69 126.30… Continue reading NBP Exchange Rates
Category: Business
Business news from Pakistan
Foreign exchange rates
KARACHI, Jan 25 (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 0.2345 25.01.2021 CONVERSION RATES FOR 25TH JANUARY… Continue reading Foreign exchange rates
Pharmaceutical exports increase 23.62% in 1st half of FY 2020-21
ISLAMABAD, Jan 24 (APP): The exports of Pharmaceutical products from the country witnessed an increase of 23.62 percent during the first half of ongoing financial year (2020-21) as compared to the exports of corresponding period of last year. The pharmaceutical exports were recorded at US $138.751 million during July-December (2020-21) as against the export of… Continue reading Pharmaceutical exports increase 23.62% in 1st half of FY 2020-21
Italian envoy to provide ease of VISA to local businessmen
ISLAMABAD, Jan 24 (APP): Ambassador of Italy to Pakistan Andreas Ferrarese on Sunday vowed to simplify the process of VISA issuance to Pakistani businessmen and traders to further promote business to business ties between Pakistan and Italy. “Simplification of the VISA process and procedure is the top priority of the Italian embassy in Islamabad” he… Continue reading Italian envoy to provide ease of VISA to local businessmen
Dawood promises to cut duties on raw materials: LCCI
LAHORE, Jan 23 (APP): Advisor to Prime Minister on Commerce & Investment Abdul Razak Dawood has said that Regulatory Duty and Additional Duty on those raw materials will be abolished which are not being produced locally. He was talking to Lahore Chamber of Commerce & Industry (LCCI) President Mian Tariq Misbah, Senior Vice President Nasir… Continue reading Dawood promises to cut duties on raw materials: LCCI
PARC provides over 300 mounds pulses seeds to farmers of Tharparker
ISLAMABAD, Jan 23 (APP): Pakistan Agriculture Research Council (PARC) in collaboration with local non- governmental organisations had distributed about 300 mounds seeds of different pulses to farmers of Tharparkar for promoting agriculture sector of the desert areas. The initiative was aimed at encouraging pulses farming in these areas to address malnutrition and provide livelihood opportunities… Continue reading PARC provides over 300 mounds pulses seeds to farmers of Tharparker
ICT exports to cross $ 2 billion mark in FY- 2020-21:Dawood
ISLAMABAD, Jan 22 (APP):Adviser to Prime Minister on Commerce and Investment, Abdul Razak Dawood on Friday expressed the hope that the country’s exports in Information and Communication Technology (ICT) will cross the $ 2 billion mark in the Financial Year (FY) 2020-21. “The ICT exports will soon become a very important sector in Pakistan’s total… Continue reading ICT exports to cross $ 2 billion mark in FY- 2020-21:Dawood
Chairman FPCCI stresses for enhancing Pak-Italy economic trade linkages
ISLAMABAD, Jan 21 (APP): The Chairman Federation Pakistan Chamber of Commerce and industry (FPCCI) Capital Office Haji Qurban Ali stressed the need to enhance the economic and trade linkages between the business community of Italy and Pakistan for increasing the trade between both sides. Local business community want equilibrium and to achieve trade balance as… Continue reading Chairman FPCCI stresses for enhancing Pak-Italy economic trade linkages
Progress made on draft agreement with 3 gas-based IPPs: Sources
ISLAMABAD, Jan 21 (APP): Progress was made on the agreement with the Independent Power Producers -as three gas-based leading IPPs agreed on a draft of legally binding contracts on the basis of MOUs initially signed in August 2019. The three companies; Sapphire, Halmore, and Orient, setup under the 2002 power policy, have moved ahead on… Continue reading Progress made on draft agreement with 3 gas-based IPPs: Sources
Gov’t spends record Rs 208 bln on development projects in 6 months :Asad Umar
ISLAMABAD, Jan 21 (APP):Minister for Planning Development and Special Initiatives Asad Umar Thursday said the federal government had spent record Rs 208 billion on development projects under Public Sector Development Programme (PSDP) during first six months of current fiscal year. “This amount is 32 percent of total development outlay for the year 2020-21 which is… Continue reading Gov’t spends record Rs 208 bln on development projects in 6 months :Asad Umar
ECC reduces tax on commercial sugar imports to 0.25%; directs TCP to import white sugar
ISLAMABAD, Jan 20 (APP):The Economic Coordination Committee (ECC) of the Cabinet Wednesday approved reduction of Withholding Income Tax on commercial import of white sugar and raw sugar form 5.5% to 0.25% besides approving removal of Value Added Sales Tax on import of white sugar. The approval was given on the presentation of summary by Ministry… Continue reading ECC reduces tax on commercial sugar imports to 0.25%; directs TCP to import white sugar
FPCCI invites Sweden to invest in CPEC, SEZs
ISLAMABAD, Jan 20 (APP):Federation of Pakistan Chambers and Commerce and Industry (FPCCI) Chairman Qurban Ali on Wednesday urged for increasing the bilateral economic and trade relation between Pakistan and Sweden and also to increase the business to business connectivity among the business communities of the two sides. The Chairman FPCCI also invited Swedish investors to… Continue reading FPCCI invites Sweden to invest in CPEC, SEZs
Rs 213 million approved for DLTL payments: Razak Dawood
ISLAMABAD, Jan 20 (APP): Adviser to Prime Minister for Commerce and Investment, Abdul Razak Dawood on Wednesday informed that Rs. 213 million for Drawback of Local Taxes and Levies (DLTL) payments of non-textile sector have been approved. These are now with State Bank of Pakistan (SBP) and will soon be disbursed to the relevant exporters,… Continue reading Rs 213 million approved for DLTL payments: Razak Dawood
TERF provide concessionary refinance on 5 percent for manufacturers: Razak
ISLAMABAD, Jan 20 (APP):Adviser to Prime Minister for Commerce and Investment, Abdul Razak Dawood on Wednesday informed that the Temporary Economic Refinance Facility (TERF) providing long-term concessionary refinance at 5% for manufacturers and exporters has shown excellent results. This scheme will come to an end on March 31, 2021; the adviser said this on his… Continue reading TERF provide concessionary refinance on 5 percent for manufacturers: Razak
Razak greets e-commerce promoter for raising $ 6.5 million
ISLAMABAD, Jan 19 (APP):Adviser to Prime Minister for Commerce and Investment, Abdul Razak Dawood on Tuesday appreciated e-commerce promoter ‘Bazaar Technologies’ on successfully raising $ 6.5 million, in what was now being termed as one of the region’s larger seed rounds. “This is impressive considering the fact that the start-up was founded just 8-months ago… Continue reading Razak greets e-commerce promoter for raising $ 6.5 million
SECP vows to implement measures for regulating financial sector
ISLAMABAD, Jan 19 (APP):The Security and Exchange Commission of Pakistan (SECP) vowed to implement the measures for regulating financial sector from being used by money launderers and illegal financiers for illicit purposes. The SECP is committed to follow the measures set out in the Financial Action Task Force (FATF) standards to protect SECP regulation for… Continue reading SECP vows to implement measures for regulating financial sector
Rs319.56 bn released for social sector uplift projects
ISLAMABAD, Jan 19 (APP):The Federal Government has released Rs. 319.56 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. 207.17 billion for federal ministries, Rs.87 billion for corporations, Rs. 25.25 billion for special areas, and Rs. 750 million for… Continue reading Rs319.56 bn released for social sector uplift projects
Oil import bill shrinks by 22.32% to $4.77bn in 1st half of FY21
ISLAMABAD, Jan 19 (APP):The country’s oil import bill witnessed reduction of 22.32 percent during the first half of the current fiscal year as compared to the corresponding period of last year, Pakistan Bureau of Statistics (PBS) reported. The overall oil imports during July-December (2020-21) were recorded at $4771.471 million against the imports of $6142.197 million… Continue reading Oil import bill shrinks by 22.32% to $4.77bn in 1st half of FY21
Four private sector companies step in LNG trade
ISLAMABAD, Jan 19 (APP):The ease-of-doing business plan, introduced by the Pakistan Tehreek-i-Insaf (PTI) government, has started yielding the required results with stepping in of four private sector companies for carrying out regulated activities of Liquefied Natural Gas (LNG) across the country. In a significant development, Oil and Gas Development Authority (OGRA) last week granted the… Continue reading Four private sector companies step in LNG trade
CPEC projects heading toward progress on expedited pace: Chinese envoy
ISLAMABAD, Jan 19 (APP):Ambassador of China to Pakistan Nong Rong Tuesday said that the projects under China Pakistan Economic Corridor (CPEC) were heading in right direction and would continue to progress on expedited pace. Talking to Secretary Planning Development and Special Initiatives Mathar Niaz Rana here, the envoy said that CPEC was the flagship project… Continue reading CPEC projects heading toward progress on expedited pace: Chinese envoy
