Category: Business

Business news from Pakistan

PSX gains 117 points to close at 43,100 points

ISLAMABAD, MAY 20 (APP): The KSE 100-index of the Pakistan Stock Exchange (PSX) witnessed bullish trend on Friday, gaining 117.26 points, with a positive change of 0.27 percent, closing at 43,100.71 points against 42,983.45 points on the last working day. A total of 189,926,559 shares were traded during the day compared to the trade of… Continue reading PSX gains 117 points to close at 43,100 points

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Uzbek envoy hinted at possibility of Pak- Uzbekistan FTA

ISLAMABAD, May 20 (APP):Ambassador of Uzbekistan to Pakistan, Aybek Arif Usmanov on Friday said that the possibility of signing a free trade agreement between Pakistan and Uzbekistan cannot be ruled out. A Preferential Trade Agreement (PTA) has been signed for the promotion of bilateral liberal trade between the two countries, which has a great potential… Continue reading Uzbek envoy hinted at possibility of Pak- Uzbekistan FTA

Positive talks with IMF underway, economic situation to improve soon: Miftah

ISLAMABAD, MAY 20 (APP): Federal Minister for Finance and Revenue, Miftah Ismail said here on Friday that positive talks were underway with International Monetary Fund (IMF) and expressed the hope that there would be a turnaround in the economic situation very soon. In a tweet, the federal minister said that the country’s current account deficit… Continue reading Positive talks with IMF underway, economic situation to improve soon: Miftah

Govt committed to provide friendly environment to investors: Miftah

ISLAMABAD, MAY 19 (APP):  Federal Minister for Finance and Revenue, Miftah Ismail said here on Thursday that the incumbent government was committed to provide conducive and friendly environment to the investors and businessmen for the growth of economic activity and enhancement of exports. In a meeting with the Vice Chairman of Indus Motor Company, Shini… Continue reading Govt committed to provide friendly environment to investors: Miftah

Tough decisions in pipeline to ensure stable economic growth: Pasha

  ISLAMABAD, May 19 (APP): Minister of State for Finance and Revenue Dr. Aisha Ghous Pasha said here on Thursday that government was in transitory stage, but tough decisions were in pipeline for reducing the economic bottlenecks and for ensuring stability in the economic growth. This stability would bring in greater benefits for businesses as… Continue reading Tough decisions in pipeline to ensure stable economic growth: Pasha

Rupee closes at Rs 199.99 against dollar

ISLAMABAD, May 19 (APP):Exchange rate of Pak Rupee weakened by Rs 1.60 against the US Dollar in the interbank trading on Thursday and closed at Rs199.99 against the previous day’s closing of Rs 198.39. According to the Forex Association of Pakistan (FAP), the buying and selling rates of dollar in the open market were recorded… Continue reading Rupee closes at Rs 199.99 against dollar

Rs1,949.72 mln released for 13 petroleum sector projects in 10 months

ISLAMABAD, May 19 (APP): The government has released funds amounting to Rs1,949.72 million to execute seven ongoing and six new petroleum-related projects during the first 10 months of the current fiscal year under the Public Sector Development Programme (PSDP 2021-22) against a total allocation of Rs3,249.54 million. Out of the total disbursement of Rs1,949.72 million,… Continue reading Rs1,949.72 mln released for 13 petroleum sector projects in 10 months

Pak, IMF kick off 7th review on EFF programme

ISLAMABAD, MAY 18 (APP): Federal Minister for Finance and Revenue, Miftah Ismail held a virtual meeting with International Monetary Fund (IMF) Mission Chief on Wednesday, kicking off the 7th review on Extended Fund Facility (EFF) of the fund. According to press statement issued by the finance ministry, the meeting was attended by Minister of State… Continue reading Pak, IMF kick off 7th review on EFF programme

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Rupee extends losses against dollar

ISLAMABAD, May 18 (APP):Exchange rate of Pak Rupee weakened by Rs 2.65 against the US Dollar in the interbank trading on Wednesday and closed at Rs198.39 against the previous day’s closing of Rs 195.74. According to the Forex Association of Pakistan (FAP), the buying and selling rates of dollar in the open market were recorded… Continue reading Rupee extends losses against dollar

PSX gains 300 points to close at 43,026 points

ISLAMABAD, May 18 (APP):The KSE 100-index of the Pakistan Stock Exchange (PSX) witnessed bullish trend on Wednesday, gaining 300.82 points, with a positive change of 0.70 percent, closing at 43,026.88 points against 42,726.06 points on the last working day. A total of 278,803,100 shares were traded during the day compared to the trade of 197,916,949… Continue reading PSX gains 300 points to close at 43,026 points

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BOI provides all possible facilities to investors: Minister BOI

ISLAMABAD, May 18 (APP):Federal Minister for Board of Investment Ch. Salik Hussain on Thursday said that BOI would provide all possible facilities to foreign and local investors as it has been providing facilities to investors in the past. The Minister and Secretary briefed the participants about BOI’s role in facilitating and attracting local and foreign… Continue reading BOI provides all possible facilities to investors: Minister BOI

Govt committed to undertake reforms for macroeconomic stability: Pasha

ISLAMABAD, MAY 17 (APP): Minister of State for Finance and Revenue, Dr. Aisha Ghous Pasha here on Tuesday reiterated the firm dedication of the government in undertaking the needed reforms to achieve macroeconomic stability, build fiscal resilience and stimulate economic recovery. The state minister was talking to Country Director World Bank (WB) Najy Benhassine during… Continue reading Govt committed to undertake reforms for macroeconomic stability: Pasha

ADB reaffirms support for reform programmes

ISLAMABAD, MAY 17 (APP): The Asian Development Bank (ADB) here on Tuesday re-affirmed its commitment to continue support for strengthening reform programmes and for implementation of country’s development agenda including fiscal management, building resilience and boosting competitiveness and development of private sector. The reaffirmation was made by ADB Executive Directors (EDs), Dr. Wan Farissan Bin… Continue reading ADB reaffirms support for reform programmes

Exports increase 35% to Rs4.553 trillion in 10 months

ISLAMABAD, May 17 (APP): The exports of the country in rupee term witnessed an increase of 35.52 per cent during the first ten months of the current fiscal year as compared to the corresponding period of last year, Pakistan Bureau of Statistics (PBS) reported. According to PBS provisional figures, exports during July–April (2021 – 2022)… Continue reading Exports increase 35% to Rs4.553 trillion in 10 months

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