Category: Business

ISLAMABAD, Jul 09 (APP):Minister for Planning, Development and Special Initiatives Asad Umar on Thursday said that Phase-II of Prime Minister Kamyab Jawan Program in collaboration with Ministry of Industries will give loans for establishment of Utility Stores’ franchises. He was chairing a meeting on PM’s Kamyab Jawan Programme (PMKJP) for establishing utility stores franchises across… Continue reading Govt to provide loans for establishment of utility stores

ISLAMABAD, Jul 09 (APP):Federal Minister for privatization Muhammad Mian Soomro Thursday said the privatization of National Power Parks Management Company Limited (NPPMCL) would not be affected by any perceived sectoral issues emanating from recent developments. He said this while addressing an important meeting regarding the privatization of power plants and related power sector reforms. Minister… Continue reading NPPMCL privatization not to be affected by any perceived sectoral issues; says Soomro

ISLAMABAD, Jul 9 (APP):Advisor to the Prime Minister on Commerce and Investment Abdul Razak Dawood Thursday asked the private sector to coordinate with the Board of Investment (BoI) for availing the opportunities in the U.S. International Development Finance Cooperation (IDFC) available funds. He said the procedures were being developed to facilitate the investment through U.S.… Continue reading Razak asks private sector to coordinate with BoI for availing U.S. IDFC funds

ISLAMABAD, Jul 09 (APP):The price of 24 karat gold increased by Rs800 on Thursday and was traded at Rs109,100 as against its trading at Rs108,300 the previous day, Karachi Sarafa Association reported. Likewise the price of 10 gram gold also witnessed increase of Rs686 and was trade at Rs93,536 against its sale at Rs92,850. The… Continue reading Gold price increases Rs800 to Rs109,100 per tola

ISLAMABAD, Jul 09 (APP):Fruits and vegetables exports grew by 1.18 percent and 29.27 percent respectively during 11-month of financial year 2019-20 as compared the exports of the corresponding period of last year. During the period from July-May, 2019-20 about 762,007 metric tons of fresh fruits worth $397.997 million exported as against 731,029 metric tons valuing… Continue reading Fruits, vegetables exports grew during 11 months

ISLAMABAD, Jul 09 (APP):The exports of artificial jewellery witness 32.19 percent decrease during the eleven months of ongoing financial year 2019-20 as compared to the corresponding period of last year. The country exported jewellery worth US $3.204 million during July-May (2019-20) against the exports of US $4.725 million during July- May (2018-2019), showing decline of… Continue reading Artificial Jewellery’s exports decrease 32.19pc to US $3.204 million

ISLAMABAD, Jul 9 (APP):The exchange rate of Pakistani rupee gained 18 paisas against US dollar in the interbank on Thursday to close at Rs166.58 compared to the last closing of Rs166.76. However, according to Forex Association of Pakistan, the buying and selling rates of dollar in open market were recorded at Rs 166.5 and Rs… Continue reading Rupee strengthens against dollar

ISLAMABAD, Jul 08 (APP):The Advisor to the Prime Minister on Commerce and Investment, Abdul Razak Dawood on Wednesday said, Information Technology (IT) and Information Technology Enabled Services (ITES) is one of the top priorities of the government to encourage local and foreign investors in local IT sector. The Advisor said “I am glad to see… Continue reading Government to encourage local ,foreign investors in IT Sector: Razak Dawood

ISLAMABAD, July 08 (APP):The government has released funds amounting to Rs287.289 million during the last fiscal year to execute seven petroleum projects under the Public Sector Development Programme (PSDP 2019-20) against the total allocation of Rs 304.997 million. According to the official data as of June 30 that showed a slight readjustment in funds’ allocation… Continue reading Govt releases Rs287.289 million for 7 petroleum sector projects during last FY

ISLAMABAD, Jul 7 (APP):Advisor to Prime Minister on Commerce and Investment, Abdul Razak Dawood Tuesday applauded the exporters on the high-quality performance in financial year 2019-20, despite the very challenging situation due to COVID-19. “Our exports were only 6 percent less in year 2019-20, while our regional country including Bangladesh was down by 17 percent… Continue reading Razak appreciates exporters on high-quality performance in 2019-20

ISLAMABAD, Jul 07 (APP):The Employees’ Old-Age Benefits Institution (EOBI) would pay three-moth arrears amounting to Rs 2.4 billion to around 400,000 registered pensioners with increased annuity in the next month, its Chairman Azhar Hameed said. “Each retired employee registered with the EOBI will get increased pension of Rs 8,500 coupled with Rs 6,000 arrears of… Continue reading EOBI pensioners to get Rs 2.4bln arrears in August with increased annuity: Chairman

ISLAMABAD, Jul 7 (APP):The United States of America (USA) remained the top export destinations of the Pakistani products during the eleven months of current financial year (2019-20), followed by China and United Kingdom (UK). The total exports to the USA during July-May (2019-20) were recorded at US $ 3588.819 million against the exports of US… Continue reading USA, China, UK top three destinations of Pakistani exports: SBP

ISLAMABAD, Jul 07 (APP):The federal government has authorized release of Rs 644.7 billion for various ongoing and new social sector uplift projects during under its Public Sector Development Programme (PSDP) 2019-20, as against the total allocation of Rs701 billion. Out of total releases, foreign funding include Rs 123.6 billion while the rest Rs 521.1 billion… Continue reading Gov’t authorizes release of Rs 644.7 bn for development projects in FY20

ISLAMABAD, Jul 06 (APP):Ambassador of Japna Matsuda Kuninori on Monday showed keen interest for developing mutual agricultural research and importing Basmati rice from Pakistan in order to further strengthen bilateral trade and economic cooperation between the two countries. The ambassador called on Minister for National Food Security and Research Syed Fakhar Imam and discussed ways… Continue reading Japan keen to import Basmati rice, establishing mutual agriculture research

ISLAMABAD, Jul 06 (APP):Minister for Planning and Development Asad Umar Monday said the government was committed to complete the projects under China Pakistan Economic Corridor (CPEC). In his tweet, he said the government was also committed to produce indigenous clean energy. “The signing of 1.5 billion dollars 700 MW Azad Pattan hydro power project, days… Continue reading Govt committed to complete CPEC projects: Asad Umar

ISLAMABAD, July 06 (APP):Special Assistant to Prime Minister (SAPM) on Petroleum Nadeem Babar and Minister of State for Narcotics Control Shehryar Khan Afridi Monday chaired a meeting to review progress on Exploration and Production (E&P) companies’ CSR activities being under taken in oil and gas producing districts Karak and Kohat of Khyber Pakhtunkhwa. The SAPM… Continue reading Nadeem, Afridi review progress on E&P companies’ CSR activities in Karak, Kohat

ISLAMABAD, Jul 06 (APP):Minister for National Food Security and Research Syed Fakhar Imam on Monday reiterated the government resolve for making Balochistan as hub of organic agriculture, particularly to produce cotton in order to bring economic stability in the country and social prosperity of the province. While chairing the meeting on working of Federal Seed… Continue reading Imam reiterates for making Balochistan hub for organic agriculture

KARACHI, Jul 06 (APP):The State Bank of Pakistan on Monday announced to expand the scope of the refinance facility that was announced on March 17, 2020, titled Refinance Facility to Combat Covid-19 (RFCC), to support the hospitals and health sector for providing services to directly fight against COVID-19. The banks provide concessional loans at a… Continue reading SBP enhances scope of refinance facility to support health facilities

KARACHI, Jul 06 (APP):The Foreign Exchange Rates Committee of Financial Market Association of Pakistan issued the following Base Rate, here on Monday. 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 06 07 20 For 3 months and… Continue reading Foreign Currency Account Scheme