Category: Business

ISLAMABAD, Feb 20 (APP):The imports of medicinal products into the country during the first seven months of financial year (2019-20) dipped by 9.95 percent as compared to the corresponding period of last year. Pakistan imported medicinal products of worth $590.783 million during July-January (2019-20) compared to the imports of $656.080 million during July- January (2018-19),… Continue reading Medicinal imports dip over 9% in seven months

ISLAMABAD, Feb 19 (APP):Adviser to the Prime Minister on Commerce Abdul Razak Dawood Wednesday said the government was committed to removing all the obstacles in way of enhancing pharmaceutical exports up to US $5 billion. Special focus was also being laid on increasing the exports volume through tariff rationalization, trade related investment, institutional reforms and… Continue reading Govt to facilitate increase pharmaceutical exports up to $5 billion

ISLAMABAD, Feb 19 (APP):Pakistan earned $264.254 million by providing different travel services in various countries during the first half of current financial year 2019-20. This shows growth of 29.49 percent as compared to $204.070 million same services were provided during the corresponding period of fiscal year 2018-19, Pakistan Bureau of Statistics (PBS) said. During the… Continue reading Pakistan’s earns $264 mln from travel services’ export

ISLAMABAD, Feb 18 (APP):Adviser to the Prime Minister on Finance and Revenue Dr Hafeez Shaikh on Tuesday directed the relevant stakeholders to take all requisite measures to ensure that reasonable prices of all essential items were maintained across the country with effective coordination of the provincial governments. He was chairing a high level meeting here… Continue reading Hafeez emphasizes on price stability

ISLAMABAD, Feb 18 (APP):The ministry of science and technology is preparing for the promotion of research and development in the country specifically with reference to bio technology and chemical production to boost the export value of chemicals that are used for different industrial purposes up to $1.3 billion. Briefing Adviser to the PM on Finance… Continue reading Science ministry envisages $1.3 bn exports of chemical products

ISLAMABAD, Feb 18 (APP):Ambassador of China Yao Jing on Tuesday assured to consider supply of pesticides and spraying equipment to Pakistan as an emergency project to combat the locust attack. The Ambassador called on Federal Minister for National Food Security and Research Makhdoom Khusro Bakhtiar, says a press release. The minister apprised the Ambassador about… Continue reading China to help Pakistan in combating Locust

ISLAMABAD, Feb 18 (APP):Advisor to the Prime Ministry on Finance and Revenue Dr Hafeez Shaikh on Tuesday said Foreign Direct Investment (FDI) in the country rose by 66 percent to $1.56 billion in July-Jan 2020 compared to the same period last year. In his tweet, the Advisor said in January 2020, the net FDI posted… Continue reading FDI rises 66% in 7 months: Hafeez Shaikh

ISLAMABAD, Feb 18 (APP):Turkish companies are keen to invest in Allama Iqbal Industrial City, a prioritized Special Economic Zone of Faisalabad Industrial Estate Development and Management Company (FIEDMC) under CPEC relations through exploring business potential and investment opportunities. A Turkish delegation Tuesday visited the FIEDMC camp office and both sides discussed issues for improvement in… Continue reading Turkish companies keen to invest in Allama Iqbal Industrial City

ISLAMABAD, Feb 18 (APP):The cutlery exports from the country witnessed an increase of 7.30 percent during the first seven months of current financial year (2019-20) as against the exports of corresponding period of last year (2018-19). Pakistan exported cutlery worth $54.804 million during July-January (2019-20) against the exports of $51.077 million during July-January (2018-19), showing… Continue reading Cutlery exports increase 7.30% in 7 months

ISLAMABAD, Feb 18 (APP):President Islamabad Chamber of Commerce and Industry (ICCI) Muhammad Ahmed Waheed has observed huge trade opportunities after signing of Free Trade Agreement (FTA) between Pakistan and Turkey, would also help balancing the trade volume between the two sides. After finalizing the FTA between the two countries, bilateral trade could increase from existing… Continue reading President ICCI foresees huge opportunity after Pak-Turkey FTA

ISLAMABAD, Feb 17 (APP):The 8th meeting of Transaction Committee for Privatization and National Power Parks Management Company Limited (NPPMCL) on Monday held to discuss the progress in relation to a range of matters in connection with proposed privatization of two power plants, Haveli Bahadarshah and Balloki. The committee discussed the matter after 12 investors were… Continue reading NPPMCL discusses privatization of two power plants

ISLAMABAD, Feb 17 (APP):Advisor to Prime Minister for Finance and Revenue, Abdul Hafeez Shaikh on Monday said that since the economy was coming out of the crises, institutes of management sciences and graduates could contribute to promote export-led growth. He said this while addressing to the 7thDeans and Directors Conference 2020 organized by National Business… Continue reading Academia urged to contribute for promoting exports: Hafeez Shaikh

ISLAMABAD, Feb 17 (APP):Special Assistant to the Prime Minister on Youth Affairs Muhammad Usman Dar Monday launched hi-tech courses under ‘Hunarmand Pakistan’ (Skill for All) to boost skilled manpower in the country. “The program will multiply skilled manpower and increase employability of the youth in Pakistan,” said Usman Dar while inaugurating the classes for the… Continue reading Kamyab Jawan Program: Hi-tech courses launched to boost skilled manpower

ISLAMABAD, Feb 17 (APP):The government has released around 50.4 percent of the total Rs 581.812 allocation during first seven months of the of current fiscal year to execute petroleum projects under the Public Sector Development Programme (PSDP 2019-20). According to the official data as of January 24, funds amounting to Rs 293.257 million have been… Continue reading Govt. releases 50.4% against PSDP allocations for petroleum sector projects

ISLAMABAD, Feb 17 (APP):The Finance Division Monday described as misleading and factually incorrect a news item published in a section of the press suggesting that tough prior actions [are] needed for the Internationally Monetary Fund’s (IMF) $452 million third tranche. A Finance Division spokesman, in a statement, said it was completely normal for quarterly reviews… Continue reading Finance Division dismisses speculations on IMF Review

KARACHI, Feb 17 (APP):Gwadar Development Authority (GDA) Director General Shahzeb Khan Kakar Monday said the government was committed to make Gwadar a Smart Port City and the modern Gwadar master plan and by-laws are ready to take off development activities in the city. Addressing a meeting with members of Association of Builders and Developers of… Continue reading Govt committed to develop Gwadar as modern Smart Port City: Director General GDA

ISLAMABAD, Feb 16 (APP):The Ministry of Overseas Pakistanis and Human Resource Development has facilitated some 90,000 Pakistanis, to secure jobs in multiple fields of international labour market during the first 40 days of 2020. “This is a good start for ‘2020’ and it seems that we will accomplish the target of 750,000 set for the… Continue reading Some 90,000 Pakistanis get overseas jobs in first 40 days of 2020

ISLAMABAD, Feb 15 (APP):The Ministry of Finance on Saturday rejected the personal opinions and fallacious claims of Dr Zubair Khan in the private TV channel programme regarding the current economic situation. The Ministry discarded his personal opinions and fallacious claims on the grounds that the economic situation is quickly turning around ever since Pakistan initiated… Continue reading Finance Ministry rejects false claims made by Dr Zubair Khan on private TV

ISLAMABAD, Feb 14 (APP):A Memorandum of Understanding (MoU) was signed here between the Ministry of Trade of the Republic of Turkey and Federal Board of Revenue (FBR) on trade facilitation and customs cooperation matters. The MoU was signed by the Turkish Minister of Trade, Ms Ruhsar Peckan, and the Adviser to Prime Minister on Finance… Continue reading Pakistan, Turkey sign MoU for cooperation on Trade & Customs

ISLAMABAD, Feb 14 (APP):Pakistan and Turkey have formally signed the Strategic Economic Framework (SEF) for promotion of trade and economic relations for further dialogue on Free Trade Agreement (FTA) between the two brotherly countries, Advisor to Prime Minister on Commerce, Abdul RAzak DAwood announced here. Addressing the Pakistan-Turkey Business and Investment Forum, he said that… Continue reading Pak-Turkey signs SEF for bilateral understanding on FTA: Razak Dawood