ISLAMABAD, Jan 18 (APP): At a time when the world economic growth rate has been hit hard by the COVID-19 (coronavirus) shocks, the economy of Pakistan has been showing significant progress as indicated by various indicators, depicting prudent polices of the government in running the country in these crisis times. According to official figures, the… Continue reading Indicators show economy witnessing significant growth
Category: Business
Business news from Pakistan
Cutlery exports increase 25.41% in 1st half of FY 2020-21
ISLAMABAD, Jan 18 (APP):The exports of cutlery from the country witnessed an increase of 25.41 percent during the first half of financial year 2020-21 as compared to the corresponding period of last year. The country exported cutlery worth US $59.478 million during July-December (2020-21) against the exports of US $47.428 million during July-December (2019-20), showing… Continue reading Cutlery exports increase 25.41% in 1st half of FY 2020-21
Over Rs 8 bln loans approved under Kamyab Jawan Programme: Usman Dar
ISLAMABAD, Jan 17 (APP):Special Assistant to the Prime Minister (SAPM) on Youth Affairs Muhammad Usman Dar Sunday said soft loans amounting to Rs 8.08 billion were approved under the Prime Minister Kamyab Jawan Programme’s Youth Entrepreneurship Scheme (YES) so far. In an exclusive interview with APP, he said the government had a target to create… Continue reading Over Rs 8 bln loans approved under Kamyab Jawan Programme: Usman Dar
PARC approves 22 research projects under ALP to promote research, development
ISLAMABAD, Jan 17 (APP):Pakistan Agriculture Research Council (PARC) has accorded approval for 22 research and development projects under foreign funded Agriculture Linkage Program (ALP) in order to promote research for uplift of the local agriculture sector on modern lines. The project which got approved from the board was related to research in fields of plant… Continue reading PARC approves 22 research projects under ALP to promote research, development
CPIC’s projects get power from national grid
ISLAMABAD, Jan 16 (APP): Electricity connections from the national grid station have been approved and installed at CPIC’s projects International Port City and China Pak Golf Estates in Gwadar. These are the first residential communities in Gwadar’s private sector where power connections have been successfully installed and is being dubbed a milestone in the development… Continue reading CPIC’s projects get power from national grid
Textile exports increase 7.79% to $7.44bln in H1; 22.72% in December
ISLAMABAD, Jan 15 (APP):The exports of textile commodities witnessed an increase of 7.79 percent during the first half (H1) of the current fiscal year as compared to the corresponding period of last year. The textile exports were recorded at $7442.425 million in July-December (2020-21) against the exports of $6904.689 million in July-December (2019-20), showing growth… Continue reading Textile exports increase 7.79% to $7.44bln in H1; 22.72% in December
FBR seeks budget proposals for FY2021-22
ISLAMABAD, Jan 15 (APP):The Federal Board of Revenue (FBR) Friday invited proposals from various stakeholders, on Income Tax and Customs, for consideration in the upcoming budget for the fiscal year 2021-22. “The Federal Board of Revenue is currently engaged in formulation of proposals for the Finance Bill 2021. In order to benefit from the collective… Continue reading FBR seeks budget proposals for FY2021-22
Weekly inflation eases 0.22%
The Sensitive Price Indicator (SPI) based weekly inflation for the week ended on January 14, for the combined consumption group, witnessed decrease of 0.22 percent as compared to the previous week. The SPI for the week under review in the above mentioned group was recorded at 139.70 points against 140.01 points registered in the previous… Continue reading Weekly inflation eases 0.22%
NBP Exchange Rates
KARACHI, Jan 15 (APP): Treasury Management Division of National Bank of Pakistan (NBP) on Friday issued the following exchange rates. CURRENCY SYMBOL TT Selling TT Buying U.S DOLLAR USD 160.65 160.15 EURO EUR 195.22 194.61 JAPANESE YEN JPY 1.5481 1.5433 BRITISH POUND GBP 219.86 219.17 SWISS FRANC CHF 180.83 180.27 CANADIAN DOLLAR CAD 127.00 126.60… Continue reading NBP Exchange Rates
Foreign Currency Account Scheme
KARACHI, Jan 15 (APP): The Foreign Exchange Rates Committee of Financial Market Association of Pakistan issued the following Base Rate, here on Friday. 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 15-01 21 For 3 months and… Continue reading Foreign Currency Account Scheme
Foreign exchange rates
KARACHI, Jan 15 (APP): The Exchange Rates Committee of Financial Markets Association of Pakistan issued the following exchange rates bulletin, here on Friday. 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 0.2479 15.01.2021 CONVERSION RATES FOR 15TH JANUARY… Continue reading Foreign exchange rates
Parliamentary panel stresses skill development of workers under CPEC
ISLAMABAD, Jan 14 (APP):The sub-committee of the Parliamentary Committee on China Pakistan Economic Corridor (CPEC) Thursday recommended that by learning from remarkable Chinese experiences, focus should be on the capacity building and enhancement of skills of local workers rather than only imparting and installing technological infrastructure. “This is how our manpower can become self-sufficient in… Continue reading Parliamentary panel stresses skill development of workers under CPEC
Finance Minister urges timely release of NGMS spectrum
ISLAMABAD, Jan 14 (APP):Federal Minister for Finance and Revenue, Dr. Abdul Hafeez Shaikh, Thursday urged upon the consultants to follow a proactive approach and meet the given deadlines for the release of Next Generation Mobile Services (NGMS) spectrum. The minister was chairing a meeting of the Advisory Committee for the release of NGMS spectrum in… Continue reading Finance Minister urges timely release of NGMS spectrum
PSX holds gong ceremony marking listing of EPCL preference shares
ISLAMABAD, Jan 14 (APP):A Gong Ceremony was held at Pakistan Stock Exchange (PSX) to mark the listing of preference shares of Engro Polymer and Chemicals Limited (EPCL). According to PSX press statement received here, the listing, that had taken place on December 31st, would bring forth a new investment opportunity from EPCL. To open the… Continue reading PSX holds gong ceremony marking listing of EPCL preference shares
Double-digit LSM growth testament of PTI government efforts: Finance Minister
ISLAMABAD, Jan 13 (APP): Federal Minister for Finance and Revenue, Dr. Abdul Hafeez Shaikh said Wednesday that the accelerating Large Scale Manufacturing (LSM) growth was a testament of Pakistan Tehreek-i-Insaf government’s efforts to encourage industrialisation in the country and generate new employment opportunities for people. In a tweet here, the minister said that the LMS… Continue reading Double-digit LSM growth testament of PTI government efforts: Finance Minister
Exports of home textiles increases by 16 percent to $2,017 million: Razak
ISLAMABAD, Jan 13 (APP): Adviser to the Prime Minister for Commerce and Investment on Wednesday said that the textiles sector is maintaining its export growth, which shows the exports of home textiles increased by 16 percent to $ 2,017 million for July-December 2020. It is heartening to note that the textiles sector is maintaining its… Continue reading Exports of home textiles increases by 16 percent to $2,017 million: Razak
Rs319.56 bn released for social sector uplift projects
ISLAMABAD, Jan 13 (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… Continue reading Rs319.56 bn released for social sector uplift projects
Korean companies keen to invest in Pakistan : Ambassador
ISLAMABAD, Jan 13 (APP): Pakistan’s former Ambassador to South Korea, Shaukat Ali Mukadam said that many Korean companies, especially SME were interested to come to Pakistan for business and investment as they intended to move out of Korea. However, they needed information about cost of land and cost of setting up manufacturing units in Pakistan… Continue reading Korean companies keen to invest in Pakistan : Ambassador
Visionary policies push LSM to grow 14.5% amid Covid-19: Khusro
ISLAMABAD, Jan 13 (APP):Federal Minister for Economic Affairs, Makhdum Khusro Bakhtyar said Wednesday that owing to the visionary policies of the incumbent government, the Large Scale Manufacturing Industries (LSMI) witnessed growth of 14.5 percent in November 2020 compared to the same month of the last year. In a tweet, the federal minister said that while… Continue reading Visionary policies push LSM to grow 14.5% amid Covid-19: Khusro
Bids for 20 E&P blocks’ auction to open on Jan.15
ISLAMABAD, Jan 13 (APP): The Petroleum Division (PD) is all set to open the bidding, received for the auction of 20 new oil and gas Exploration and Production (E&P) blocks, on January 15. The tender inviting interested national and international companies to participate in the bidding process had been floated in national dailies on October… Continue reading Bids for 20 E&P blocks’ auction to open on Jan.15
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