Category: Business

Business news from Pakistan

Washington Talks: Finance Minister eyes crucial new IMF deal in June

WASHINGTON, Apr 18 (APP): As an International Monetary Fund’s (IMF) nine-month Standby Arrangement (SBA) edges towards completion, Pakistan has commenced discussions with the financial institution to secure a new deal, aimed at stabilizing the national economy. “Pakistan expects an IMF mission to visit in May and would like to reach a staff-level agreement on its… Continue reading Washington Talks: Finance Minister eyes crucial new IMF deal in June

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Aurangzeb calls for robust financial safeguards against climate vulnerabilities

  ISLAMABAD, Apr 18 (APP):In a high-profile meeting held at the sidelines of the IMF/World Bank 2024 Spring Meetings in Washington DC, Federal Minister for Finance and Revenue, Muhammad Aurangzeb emphasized the need for a robust financial safety net and capacity building to address geo-economic impacts and climate vulnerabilities. Speaking at the Middle East, North… Continue reading Aurangzeb calls for robust financial safeguards against climate vulnerabilities

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Finance Minister, highlights geo-economic fragmentation, its impact on Pakistan

ISLAMABAD, Apr 17 (APP):Federal Minister for Finance and Revenue, Muhammad Aurangzeb on Wednesday highlighted geo-economic fragmentation and its impact on Pakistan. The minister attended the Middle East and North Africa (MENAP) Ministers and Governors meeting with the Managing Director International Monetary Fund (IMF), said  a press release issued here. He thanked IMF, Multilateral Development Banks… Continue reading Finance Minister, highlights geo-economic fragmentation, its impact on Pakistan

Uzbek envoy invites FPCCI leadership to attend Tashkent Int’l Investment forum

ISLAMABAD, April 17 (APP):Ambassador of the Republic of Uzbekistan to Pakistan, Oybek Arif Usmanov on Wednesday invited the Federation of Pakistan Chamber of Commerce and Industry (FPCCI) leadership to participate in the ‘Tashkent International Investment Forum’ to be held on May 2 under the patronage of President of Uzbekistan, Shavkat Mirziyoyev. He met with the… Continue reading Uzbek envoy invites FPCCI leadership to attend Tashkent Int’l Investment forum

SECP grants registration to first digital insurer

ISLAMABAD, Apr 17 (APP):The Securities and Exchange Commission of Pakistan (SECP) has registered and issued license to  M/s Salaam Family Takaful Limited as the first ever digital family takaful operator. The registration regime for digital-only insurers and dedicated micro-insurers was introduced through an amendment to the Insurance Rules, 2017, notified vide S.R.O 1513(I)/2022, aiming to… Continue reading SECP grants registration to first digital insurer

SECP files complaint against two individuals on violation of trading

ISLAMABAD, April 17 (APP):The Security and Exchange Commission of Pakistan (SECP) has filed complaint against two individuals on violations of trading. Based on an investigation conducted under the Securities Act, 2015, the SECP has filed a criminal complaint against two individuals who were found involved in front-running equity trading by a large institutional investor during… Continue reading SECP files complaint against two individuals on violation of trading

PSX issues ESG Primer for listed companies

ISLAMABAD, Apr 17 (APP):The Pakistan Stock Exchange (PSX) has taken yet another major step in realising its vision of ESG readiness for listed companies by issuing the PSX Primer on Environmental, Social & Governance (ESG). The sector agnostic Primer on ESG is a detailed booklet and first of a series of publications meant for guiding… Continue reading PSX issues ESG Primer for listed companies

Rupee sheds 10 paisa against dollar

ISLAMABAD, Apr 17 (APP):Pakistani Rupee on Wednesday depreciated by 10 paisa against the US dollar in the interbank trading and closed at Rs278.39 against the previous day’s closing of Rs278.29. However, according to the Forex Association of Pakistan (FAP), the buying and selling rates of the dollar in the open market stood at Rs277.3 and… Continue reading Rupee sheds 10 paisa against dollar

KPT shipping movements report

KARACHI, Apr 17 (APP):Following were the Movements of Ships at Karachi Port Trust (KPT) during last 24 hours, ending at 0700 hours on Wednesday. SHIPS BERTHED: SC MercuryTanker V Noble General Cargo Christina Selmer Cement Newsun HarmonyFertilizer

Shipping Activity at Port Qasim

KARACHI, Apr 17 (APP): Four hips namely, MSC United-VIII, Asphalt Alliance, Al-Khor and High Trader scheduled to load/offload Container, Bitumen, LNG and Mogas, berthed at Container Terminal, Multi-Purpose Terminal, Elengy Terminal and Oil Terminal respectively on Tuesday. Meanwhile two more ships, Maersk Cabo Verde and Bo-Mustafa-O also arrived at outer-anchorage of the Port Qasim to… Continue reading Shipping Activity at Port Qasim

Local POL production increases by 3.82% during July-February

ISLAMABAD, Apr 17 (APP): Overall production of petroleum commodities has witnessed an increase of 3.82 percent during the first eight months of the current financial year 2023-24 as compared to the corresponding period of the fiscal year 2022-23. POL products that showed positive growth include Motor Spirits the production of which increased by 4.03 percent… Continue reading Local POL production increases by 3.82% during July-February

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