Category: Business

ISLAMABAD, Feb 6 (APP):Chairman CPEC Authority General (Retd) Asim Saleem Bajwa has said that the second phase of China Pakistan Economic Corridor (CPEC) encompassed multi-sector projects that would generate mass level employment opportunities in the country. “Time to gear up for Phase-2 which is envisioned to generate mass employment through more projects of mass industrialisation,… Continue reading CPEC phase II envisions generating mass employment: Chairman CPEC Authority

ISLAMABAD, Feb 06 (APP):SAARC Chambers of Commerce and Industry (CCI) Senior Vice President Iftikhar Ali Malik Thursday said Brexit could provide an opportunity for SAARC countries especially for Pakistan in trade and overseas employment besides boosting its trade with United Kingdom through concessional tariffs on Pakistani goods. He expressed these views while talking to a… Continue reading SAARC countries especially Pakistan can fill gaps for UK in post-Brexit,: Iftikhar Malik

ISLAMABAD, Feb 6 (APP):The Federal Board of Revenue (FBR) issued a rebuttal on a news item published in a section of press about the issuance of Benami Transactions (Prohibition) Rules, 2019. The board, in a statement issued here, explained that Benami Transactions (Prohibition) Rules, 2019 under Benami Transactions (Prohibition), Act, 2017 were notified through SRO.… Continue reading Benami Transactions (Prohibition) Rules, 2019 issued in accordance with law: FBR

ISLAMABAD, Feb 06 (APP):Pakistan Furniture Council (PFC) would thrash out issues facing the furniture industry besides developing a clear and comprehensive policy and frame an action plan to increase the export and boost the value-added segment of the furniture sector after deliberations with its stakeholders. PFC Chairman Mian Kashif Ashfaq was a chief guest Thursday… Continue reading PFC to chalk out roadmap for furniture sector to boost exports

ISLAMABAD, Feb 05 (APP):The Federal Board of Revenue (FBR) on Wednesday issued a rebuttal on a news item published by Daily “The News” on February 5, 2020 about the issuance of Benami Transactions (Prohibition) Rules, 2019. The board, in a statement issued here, explained that Benami Transactions (Prohibition) Rules, 2019 under Benami Transactions (Prohibition), Act,… Continue reading Benami Transactions (Prohibition) Rules, 2019 issued in accordance with law: FBR

ISLAMABAD, Feb 05 (APP):The Federal government has so far authorized release of Rs 429.17 billion for various ongoing and new social sector uplift projects under its Public Sector Development Programme (PSDP) 2019-20, as against the total allocation of Rs 701 billion. Under its development programme, the government has released an amount of Rs 190.87 billion… Continue reading Federal govt releases Rs 429.17 bln for development projects

KARACHI, Feb 04 (APP):Consul General of Indonesia here, Totok Prianamto said the relations between Indonesia and Pakistan in different sectors were becoming stronger with the passage of time and bilateral trade was also increasing year-on-year. The top import items from Pakistan include rice, chemical, raw cotton, wheat, paper, fruits, garments, leather, plastic materials, cotton yarn,… Continue reading Pak-Indonesia trade increasing, need more exploration: Indonesian CG

ISLAMABAD, Feb 4 (APP):The Economic Coordination Committee (ECC) of the Cabinet on Tuesday approved an amount of Rs700 million as initial paid up capital in order to register Postal Life Insurance as Public Limited Company. The amount shall be allocated by the Finance Division and transferred to the proposed Postal Life Insurance Company. After the… Continue reading ECC approves Rs700 million as initial paid up capital to register Postal Life Insurance Company

ISLAMABAD, Feb 4 (APP):A British trade delegation Tuesday called on Special Assistant to the Prime Minister (SAPM) on Petroleum Nadeem Babar and acknowledged Pakistan’s improved ease of doing business environment. The delegation, headed by Her Majesty’s Trade Commissioner Simon Penny, was consisted of Deputy HC Mike Nithavrianakis and Director for Trade at the British High… Continue reading British delegation commends Pakistan’s improved ease of doing business environment

ISLAMABAD, Feb 4 (APP):The government has released funds amounting to Rs 327.579 million during first seven months of the current fiscal year to execute 16 Aviation Division projects under the Public Sector Development Programme (PSDP 2019-20) against the total allocation of Rs1,266.505 million. According to the official data, by January 31 an amount of Rs… Continue reading Rs 327.579 mln released for Aviation Division projects in seven months

ISLAMABAD, Feb 3 (APP):Advisor to Prime Minister on Finance and Revenue Hafeez Shaikh Monday said that inflation rate in the country would start receding soon which would gradually come down to comfortable level. The advisor said the federal government had taken a number of initiatives to bring down prices of various commodities. “The nation will… Continue reading Inflation to start receding soon: Hafeez Shaikh

ISLAMABAD, Feb 3 (APP):The International Monetary Fund (IMF) staff mission has started discussion here with the government authorities to review Pakistan’s performance under its US $6 billion Extended Fund Facility (EFF). Advisor to Prime Minister on Finance and Revenue Dr Abdul Hafeez Shaikh informed media persons here outside his office on Monday. The team would… Continue reading Pakistan-IMF discussion starts to review $6 bn programme

ISLAMABAD, Feb 3 (APP):Federal Board of Revenue has issued a clarification on the news aired on electronic media about the issuance of fake refunds. FBR has explained that two processes are being used to deal with refund cases,said a press release issued by FBR here on Monday. The first is the processing of refunds through… Continue reading FBR clarifies news about fake tax refunds

ISLAMABAD, Feb 3 (APP):Special Assistant to the Prime Minister (SAPM) on Petroleum Nadeem Babar Monday said Pakistan was an agrarian country and needed to focus on producing clean bio fuels aimed at meeting its energy requirements indigenously. “The bio fuel is a natural advantage that we have been blessed with by Allah Almighty but we… Continue reading Petroleum SAPM for harnessing clean bio-fuel potential

LAHORE, Feb 3 (APP):National Engineering Services Pakistan (NESPAK) has made record business during fiscal year 2018-19 by acquiring 87 new projects worth Rs 11.14 billion showing an increase of 11 per cent when compared with Rs. 10.07 billion projects of FY 2017-18. NESPAK Managing Director Dr. Tahir Masood told media here Monday that out of… Continue reading NESPAK acquires 87 projects worth Rs 11.14b in a year

ISLAMABAD, Feb 3 (APP):The Finance Ministry on Monday said that the outcome of stabilization policies, agriculture sector interventions, rigorous monitoring at federal as well provincial levels and favourable weather conditions would help ease inflation and lead the economy towards sustainable growth and productivity in up coming days. “Adverse effects of pre-monsoon rains on wheat crop,… Continue reading Stabilisation policies, agri sector interventions, monitoring to help ease inflation

ISLAMABAD, Feb 02 (APP):The government has released funds amounting to Rs 293.257 million during first seven months of the of current fiscal year to execute petroleum projects under the Public Sector Development Programme (PSDP 2019-20) against the total allocation of Rs581.812 million. According to the official data as of January 24, an amount of Rs… Continue reading Rs293.257 mln released for petroleum sector projects in seven months

ISLAMABAD, Feb 02 (APP):The United States of America (USA) remained the top export destinations of the Pakistani products during first half of current financial year (2019-20), followed by China and United Kingdom (UK). The total exports to the USA during July-December (2019-20) were recorded at US $ 2074.168 million against the exports of $2018.797 million… Continue reading USA, China, UK top three destinations of Pakistani exports: SBP

ISLAMABAD, Feb 01 (APP):Chairman, Pak-US Business Council Founder, Iftikhar Ali Malik Saturday said 15 high level US trade delegations will visit Pakistan in 2020 to enhance volume of trade and further explore investment avenues in various sectors to help boost and accelerate economic activities in the country. He disclosed it while talking to a 10… Continue reading 15 high level US trade delegations to visit Pakistan in 2020 to enhance trade volume and explore further investment avenues: Iftikhar Malik

ISLAMABAD, Jan 31 (APP):Over 200,000 youth from across the country have applied for the Prime Minister’s Hunarmand Pakistan Program (Skill for All), launched by the government this month for socio-economic development of young people. “Interviews of the applicants have been started at over 500 technical and vocational training institutions of the country,” an official of… Continue reading Over 200,000 youth applies for PM’s Hunarmand Pakistan Program