Category: Business

Business news from Pakistan

ECC extends relief package, approves infrastructure projects, supplementary grants

APP70-130622 ISLAMABAD: June 13 – Federal Minister for Finance and Revenue Miftah Ismail presided over the meeting of the Economic Coordination Committee (ECC) of the Cabinet at Finance Division. APP

ISLAMABAD, Jun 13 (APP):The Economic Coordination Committee (ECC) of the Cabinet here on Monday approved extension in the Prime Minister’s Relief Package besides approving infrastructure projects and many supplementary grants for various ministries and divisions. The meeting of ECC was chaired by Federal Minister for Finance and Revenue, Miftah Ismail. It was attended by Minister… Continue reading ECC extends relief package, approves infrastructure projects, supplementary grants

Pakistan, ADB discuss Country Partnership Strategy

Islamabad: Federal Minister for Finance and Revenue Mr. Miftah Ismail held a meeting with Mr. Eugene Zhukov, Director General, Asian Development Bank at Finance Division - 13-06-2022

ISLAMABAD, Jun 13 (APP):Director General, Asian Development Bank (ADB), Eugene Zhukov here on Monday apprised the Federal Minister for Finance and Revenue, Miftah Ismail about the Country Partnership Strategy for Pakistan 2021-25, which is aligned with the government’s development vision. He was talking to finance minister during a meeting, which among others were also attended… Continue reading Pakistan, ADB discuss Country Partnership Strategy

Strategy evolved to modernize agriculture for higher growth

ISLAMABAD, Jun 13 (APP):The government has devised a comprehensive plan for agriculture Modernization to enhance agriculture productivity on modern lines and help promote overall economic growth of the country. The National Action Plan specially has focus on capacity building, germplasm resources, agricultural product processing, agricultural technology extension, fishery science and technology, aquaculture, and aquatic product… Continue reading Strategy evolved to modernize agriculture for higher growth

EXCHANGE RATES FOR CURRENCY NOTES

KARACHI, Jun 13 (APP):(13-06-22) CURRENCY SELLING BUYINGUSD 205.33 200.77GBP 258.08 252.33 EUR 219.39 214.92JPY 1.5432 1.5089 SAR 54.81 53.46AED 55.92 55.02 LIBOR FOR CALCULATING INTEREST ON SPECIAL USD BONDSLIBOR 1M 1.15971LIBOR 3M 1.66500LIBOR 6M 2.18800 US DOLLAR Indicative FBP Rates CURRENCY SIGHT/15 DAYS 1M 2M 3M 4M 5M 6M USD 202.30 201.83 200.79 199.46 198.42… Continue reading EXCHANGE RATES FOR CURRENCY NOTES

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NBP Exchange Rates

KARACHI, Jun 13 (APP):Treasury Management Division of National Bank of Pakistan (NBP) on Monday issued the following exchange rates. CURRENCY SYMBOL TT Selling TT BuyingU.S DOLLAR USD 203.30 202.80EURO EUR 217.63 217.09 JAPANESE YEN JPY 1.5279 1.4242BRITISH POUND GBP 255.52 254.90SWISS FRANC CHF 208.60 208.09 CANADIAN DOLLAR CAD 162.02 161.63AUSTRALIAN DOLAR AUD 146.41 146.05SWEDISH KRONA… Continue reading NBP Exchange Rates

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Foreign exchange rates

KARACHI, Jun 13 (APP):The Exchange Rates Committee of Financial Markets Association of Pakistan issued the following Exchange rates bulletin, here on Monday. CONVERSION RATES FOR JUNE 13, 2022 FOR FOREIGN CURRENCYFOR FORWARD COVER FOR DEPOSITS (EXCLUDING FE 25 DEPOSITS) SBP SETTLEMENT VALUE DATE JUNE 15, 2022 USD 202.2183 GBP 252.2269 EUR 214.8367 JPY 1.5132

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Pak-UK trade volume to be doubled by 2025: High Commissioner

ISLAMABAD, Jun 12 (APP):British High Commissioner to Pakistan, Dr Christian Turner said that bilateral trade with Pakistan would be double by next year 2025 and in this regard a consensus between the two governments was in the making. The United Kingdom (UK) is Pakistan’s third largest global trade partner, with Pakistan’s exports reaching $2.1billion at… Continue reading Pak-UK trade volume to be doubled by 2025: High Commissioner

Pak’s exports to Italy exceed imports level: Mian Kashif Ashfaq

ISLAMABAD, Jun 12 (APP): Chief Executive Officer Pakistan Furniture Council (PFC) Mian Kashif Ashfaq Sunday disclosed that for first time in Pakistan’s history, the country’s exports to Italy exceeds the imports from Italy depicting upward trends in promotion of bilateral trade between the two countries. Talking to a delegation of exporters and importers led by… Continue reading Pak’s exports to Italy exceed imports level: Mian Kashif Ashfaq

Korea enhances employment quota for Pakistani workers from 1000 to 1500 per annum: Envoy

ISLAMABAD, Jun 12 (APP): Mr Suh Sangpyo, Ambassador of Korea to Pakistan, on Sunday disclosed that Korea has decided to increase the employment quota for Pakistani workers from 1000 to 1500 per year under Employment Permit System (EPS). In an exclusive interview with APP, the Korean Ambassador said that the program was suspended during the… Continue reading Korea enhances employment quota for Pakistani workers from 1000 to 1500 per annum: Envoy

Budgetary relief measures in hard times draw positive feedback from experts, general public

ISLAMABAD, Jun 12 (APP):The announcement of several relief measures by the coalition government in the 2022-23 budget, despite severe financial constraints and external challenges, has drawn a positive feedback from experts and the masses alike. Almost all major segments of the society have got their fair share of benefits in the new budget, including slashing… Continue reading Budgetary relief measures in hard times draw positive feedback from experts, general public

Malaysia sets RM56 billion target for halal food exports: Envoy

ISLAMABAD, Jun 12 (APP): Acting High Commissioner of Malaysia to Pakistan, Deddy Faisal Ahmad Salleh on Sunday said that Malaysia has set a target of RM 56 Billion for export revenue in the halal food industry by 2025 to get benefit the global halal food market. Malaysia’s current exports in the halal food industry are… Continue reading Malaysia sets RM56 billion target for halal food exports: Envoy

Punjab to present annual budget on June 13

LAHORE, Jun 11 (APP):The Punjab government will present the budget proposals on Monday, June 13, for fiscal year 2022-23, focusing on pro-poor initiatives and controlling inflation. A Finance Department spokesperson told the media here Saturday that no new tax would be imposed in the budget while special concessions and incentives given in the past would… Continue reading Punjab to present annual budget on June 13

State Life achieves 100pc growth in new business sales: Shoaib Javed

LAHORE, Jun 11 (APP):State Life Insurance Corporation of Pakistan (SLIC) Chairman Shoaib Javed Hussain said on Saturday that the corporation had experienced another outstanding year (2021) of growth in premiums, core revenue and agent count, besides presenting improved services and products to the SLI policyholders. He was briefing the media on the sidelines of the… Continue reading State Life achieves 100pc growth in new business sales: Shoaib Javed

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Govt to start FY2022-23 with Rs 600 bln negative balance: Miftah

ISLAMABAD: June 11 - Minister for Finance Miftah Ismail addressing the Post Budget Press Briefing along with Federal Minister for Information and Broadcasting Marriyum Aurangzeb and Minister of State for Finance and Revenue Dr. Ayesha Ghous Pasha at P-Block Auditorium. APP

Govt to start FY2022-23 with Rs 600 bln negative balance: Miftah

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