Category: Business

Business news from Pakistan

Imran targeting state institutions to destabilize country: Ahsan Iqbal

  ISLAMABAD, Jun 16 (APP):Minister for Planning and Development Ahsan Iqbal on Thursday said former prime minister Imran Khan was targeting key state institutions in order to destabilize the country. Addressing a press conference here, he said Imran Khan was deliberately spreading anarchy with a well-planned social media campaign against the national institutions.“We will, however,… Continue reading Imran targeting state institutions to destabilize country: Ahsan Iqbal

LSM grows by 6.7% in 10 months

ISLAMABAD, Jun 16 (APP):The Large Scale Manufacturing Industries (LSMI) production for the old base-year 2005-06, grew by 6.7% during the first 10 months of the current fiscal year (2021-22) as compared to the corresponding period of last year, Pakistan Bureau of Statistics (PBS) reported Thursday. The LSMI Quantum Index Number (QIM) was recorded at 160.1… Continue reading LSM grows by 6.7% in 10 months

Gov’t raises petrol price by Rs 24 per liter

ISLAMABAD, Jun 16 (APP): Minister for Finance and Revenue Miftah Ismail Wednesday said the government had decided to withdraw subsidies from the petroleum products and raise the prices of petroleum products effective from June 16. Addressing a press conference here along with Minister of State for Petroleum, Musadiq Malik, the finance minister announced that the… Continue reading Gov’t raises petrol price by Rs 24 per liter

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Salient features Of Punjab budget 2022-23

LAHORE, Jun 15 (APP):Following are the salient features Of Punjab budget for fiscal year 2022-23 presented by Provincial Minister Sardar Awais Ahmad Khan Leghari in Punjab Assembly session held here at Aiwan-e-Iqbal on Wednesday; *Record increase of 22 per cent in development budget with an allocation of Rs 685 billion consisting of 40 per cent… Continue reading Salient features Of Punjab budget 2022-23

Pakistan sign ‘Debt Service Suspension Agreements’ of $197.49 million

APP07-150622 ISLAMABAD: June 15 - Federal Minister for Economic Affairs, Sardar Ayaz Sadiq witnesses the signing of the G-20 DSSI agreement with JICA (Japan). APP photo by Saleem Rana

ISLAMABAD, Jun 15 (APP):Pakistan has signed two ‘Debt Service Suspension Agreements’ on Wednesday amounting to suspension of loans worth USD 197.49 million, under the G-20 Debt Service Suspension Initiative (DSSI) frameworks. According to the press release, the government of Pakistan has signed agreements with the Japan International Cooperation Agency (JICA) and the government of the… Continue reading Pakistan sign ‘Debt Service Suspension Agreements’ of $197.49 million

WB signs agreement of US$ 85 million for PHFP

ISLAMABAD, Jun 15 (APP): Pakistan and the World Bank (WB) on Wednesday signed the agreement worth of US$ 85 million for a house finance project to benefit the low- and middle-income households in Pakistan. The Federal Minister for Economic Affairs, Sardar Ayaz Sadiq witnessed the signing ceremony of agreements of “Pakistan Housing Finance Project” (PHFP)… Continue reading WB signs agreement of US$ 85 million for PHFP

Budget deficit big challenge for government: Miftah Ismail

Islamabad: Federal Ministet for Finance and Revenue Mr. Miftah Ismail addressing National Budget Conference- 2022-23 organized by Mir Khalil ur Rehman Memorial Society in collaboration with ICMA. ( 14-06-2022).

ISLAMABAD, Jun 14 (APP):Federal Minister for Finance and Revenue, Miftah Ismail on Tuesday said that dealing with budget deficit is a big challenge for the government and the government has formulated its strategy in this regard. The Minister said that the previous Pakistan Tehreek-e-Insaf (PTI) government had taken record loans in the history of the… Continue reading Budget deficit big challenge for government: Miftah Ismail

Pakistan seeks resumption of Indonesian Palm Oil export to Pakistan

ISLAMABAD, Jun 14 (APP):Pakistan on Tuesday asked Indonesia to resume palm oil supply to Pakistan and Indonesian assured Pakistan to restore palm oil as soon as possible. Due to the Minister’s personal intervention, two shipments of Palm Oil carrying 30,000 and 27,000 would leave for Pakistan. Another 8 shipments are expected to reach Karachi before… Continue reading Pakistan seeks resumption of Indonesian Palm Oil export to Pakistan

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Italy to invest €1.5 million for olive cultivation in Pakistan: Italian Ambassador

ISLAMABAD, Jun 14 (APP): Ambassador of Italy to Pakistan Andreas Ferrarese on Tuesday said that Italy was investing in a project worth €1.5 million for olive cultivation and growth in Pakistan. The Ambassador said that Italy had always played a vital role in helping Pakistan to develop olive cultivation and technical expertise. The “Olive Culture”… Continue reading Italy to invest €1.5 million for olive cultivation in Pakistan: Italian Ambassador

Italy becomes a ‘Billion Dollar’ export market for Pakistan

ISLAMABAD, Jun 14 (APP): At a time when Pakistan’s economy is struggling with ever widening trade deficit, some of our export markets are displaying exceptional growth. Italy is among the countries where Pakistan’s exports have been rising phenomenally despite the tough market conditions caused by the COVID health emergency, said a statement issued here on… Continue reading Italy becomes a ‘Billion Dollar’ export market for Pakistan

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Shipping Activity at Port Qasim

KARACHI, Jun 14 (APP):Four ships namely, Berge Annupuri, Lady Maraguax, MilahaRasLaffan and Kotor Bay scheduled to load/offload Rice, Chemical, LNG and Containers, berthed at Multi Purpose Terminal, EngroVopak Terminal, EngroElengy Terminal and Qasim International Container Terminal respectively on Monday. Meanwhile two more ships, G Bright and Sti Bronx carrying Chemical and Gas oil also arrived… Continue reading Shipping Activity at Port Qasim

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