Category: Business

ISLAMABAD, Dec 15 (APP):Galliyat Development Authority (GDA) is all set to meet Rs. 450 million revenue target set for year 2019-20 to achieve the agenda of self reliance of the institution. Ambitious revenue target of Rs 0.45 billion would be met by outsourcing and leasing different GDAs properties, rest houses, hotels, parks, markets, food streets… Continue reading GDA all set to achieve Rs. 450 mln revenue target of 2019-20

ISLAMABAD, Dec 15 (APP):Owing to multiple factors that includes government initiatives to enhance the output of major crops, favorable weather conditions and timely harvesting of seasonal crops, country was expecting to harvest bumper wheat crop of 27 million tons during current season as against the last year’s produce of 24.47 million tons. Every year delay… Continue reading Country to achieve bumper wheat crop during current season

ISLAMABAD, Dec 15 (APP):The fertilizers manufactured imports into the country during first four months of current financial year decreased by 25.60% as compared the imports of the corresponding period of last year. During the period from Jul-October, 2019, about 889,395 metric tons of fertilizers worth $320.149 million imported to fulfill the domestic requirements as compared… Continue reading Fertilizers imports reduces 25.60% in four months

ISLAMABAD, Dec 13 (APP):Minister for Economic Affairs, Muhammad Hammad Azhar here on Friday witnessed the signing ceremony of financing and project agreements of Khyber Pass Economic Corridor Project (KPEC) worth $406.6 million with the World Bank. Secretary, Economic Affairs Division Dr Syed Pervaiz Abbas signed the project’s loan agreement on behalf of the Government of… Continue reading Pakistan, WB sign $406.6 m loan agreement for KPEC Project

ISLAMABAD, Dec 13 (APP):Adviser to Prime Minister on Commerce Abdul Razak Dawood Friday said Pakistan is playing a key role in the economic development of the South Asian region and to attain the dream of possible regional integration. In his congratulatory message to SAARC CCI Senior Vice President Iftikhar Ali Malik for nominating his name… Continue reading Pakistan playing key role in economic development of South Asian region: Abdul Razak

ISLAMABAD, Dec 12 (APP):Minister for National Food Security and Research Makhdoom Khusro Bakhtiar Thursday chaired a meeting regarding the utility of Space and Upper Atmosphere Research Commission, (SUPARCO) crop reporting data through satellite technology, along with provincial crop reporting services data. Representatives from SUPARCO, members Crop Reporting Services – Khyber Pakhtunkhwa, Punjab, Sindh and senior… Continue reading Khusro discusses utility of devising comprehensive crop reporting strategy through satellite technology

ISLAMABAD, Dec 12 (APP):The exports of pharmaceutical products during the first four months of financial year (2019-20) grew by 3.24 percent as compared to the exports of corresponding period of last year. The pharmaceutical exports were recorded at $73.000 million during July-October (2019-20) as against the exports of $70.707 million during July-October (2018-19), showing growth… Continue reading Pharmaceutical goods’ export increase over 3% in 4 months of current FY 2019-20

ISLAMABAD, Dec 12 (APP):Country’s trade deficit witnessed significant reduction in first five months (July-November) of current financial year and fell by 33.04% as compared to the corresponding period of last year. During the period under review country’s exports registered about 4.97% growth, where as imports reduces by 18.41%, according the foreign trade statistics, released by… Continue reading Trade deficit shrinks 33.04% in five months of FY 2019-20

ISLAMABAD, Dec 11 (APP):Asian Development Bank (ADB) Director General for Central West Asia Department Werner E Liepach Wednesday called on Minister for Planning, Development and Reform Asad Umar and discussed matters related to ADB’s support for development projects. The minister said the process of approval of development projects and disbursement of funds to such projects… Continue reading Disbursement of funds to development projects has liberalised: Asad Umar told ADB DG

ISLAMABAD, Dec 11 (APP):Pakistan and Russian Federation on Wednesday agreed to strengthen bilateral ties in all areas of mutual interest including political, trade, economic, energy, education and people-to-people contacts. The agreement was made during a plenary session of 6th Pak-Russia Inter Governmental Commission on Trade, Economic, Scientific and Technical Cooperation here. Minister for Economic Affairs,… Continue reading Pak-Russia agree to strengthen bilateral trade ties

ISLAMABAD, Dec 11 (APP):The gold imports into the country decreased by 6.72 percent during the first four months of the current financial year (2019-20) as compared to the corresponding period of last year. Pakistan imported gold worth $5.647 million during July-October (2019-20) compared to the imports of $6.054 million during July-October (2018-19), showing negative growth… Continue reading Gold imports decreased by 6.72 percent in 4 months of current FY 2019-20

ISLAMABAD, Dec 11 (APP):Minister for Planning, Development and Special Initiative Asad Umar Wednesday said the present government is fully committed to achieving the Sustainable Development Goals (SDGs) and the development agenda is very close to the heart of Prime Minister Imran Khan. He was talking to United Nations Development Programme (UNDP) Resident Representative Ignacio Artaza,… Continue reading Gov’t committed to achieving SDGs: Asad Umar

LAHORE, Dec 11 (APP):Kyrgyzstan’s Ambassador to Pakistan Erik Beishemhiev said on Wednesday that Kyrgyzstan Republic could play a role of bridge for Pakistan to Central Asian markets as Pakistani traders could easily export their 6,000 items with several concessions. Talking to business community here at Lahore Chamber of Commerce and Industry (LCCI), he said CPEC… Continue reading Kyrgyzstan can play role of bridge between Pakistan, Central Asian markets: Envoy

ISLAMABAD, Dec 11 (APP):Education experts stressed on Wednesday the importance of China Pakistan Economic Corridor (CPEC) trainings and education, calling for the need to produce dynamic professionals and workers in commercial and engineering disciplines by developing strong processes, linked activities, safety procedures, skills, and communication methods. Delivering a lecture on ‘China-Pakistan Economic Corridor: Prospects of… Continue reading Importance of CPEC trainings, education stressed to produce skilled professionals, workers

ISLAMABAD, Dec 10 (APP):Advisor to Prime Minister on Commerce Abdul Razak Dawood Tuesday said the government’s resolve to work for achieving economic, social and cultural development in the South Asian region by combating common challenges of poverty, unemployment, terrorism, transnational crimes and climate change. “South Asia has huge potentials for transforming development landscape of our… Continue reading Dawood reaffirms govt’s resolve to promote regional trade

KARACHI, Dec 10 (APP):Overseas Pakistani workers remitted US$ 9,298.57 million in the first five months (July to November) of FY20, compared with US$ 9,281.94 million received during the same period in the preceding year. According to State Bank of Pakistan (SBP) press release issued here on Tuesday, during November 2019, the inflow of workers remittances… Continue reading Overseas Pakistani workers remit $9,298.57 million in five months

ISLAMABAD, Dec 10 (APP):The State Bank of Pakistan has received US $1.3 billion from Asian Development Bank (ADB) in connection with the policy based lending committed by ADB to support Pakistan’s budget and energy sector reforms, said a spokesman of SBP on Tuesday. With this inflow of foreign currency, the central bank’s foreign exchange reserves… Continue reading SBP receives $1.3 bn from ADB

ISLAMABAD, Dec 10 (APP):The investors of Russia are keen to explore business opportunities in Pakistan and for this purpose, want to further strengthen trade and investment cooperation with Pakistani counterparts. This was said by Stanislav L. KOROLEV, Head of Moscow Chamber of Commerce and Industry Commission for Pakistan while addressing business community at Islamabad Chamber… Continue reading Russia keen to explore business opportunities in Pakistan