ISLAMABAD, Nov 25 (APP): The exports of sports goods witnessed an increase of 20.73 percent during the first four months of current financial year (2021-22) as compared to the exports of corresponding period of last year. Pakistan exported sport goods worth $105.120 million during July-October (2021-22) against the exports of $87.070 million during July-October (2020-21),… Continue reading Sports goods’ export surge 20.73% in 4 months
Category: Business
Business news from Pakistan
ECNEC approves NGIA project worth Rs51,298.175 mln
ISLAMABAD, Nov 24 (APP):The Executive Committee of the National Economic Council (ECNEC) on Wednesday approved the New Gwadar International Airport (NGIA) 2nd revised project worth of Rs 51,298.175 million. The 2nd revised project envisages construction of NGIA along with allied facilities over a piece of land already acquired. Adviser to the Prime Minister on Finance… Continue reading ECNEC approves NGIA project worth Rs51,298.175 mln
Finance ministry refutes misleading news on gas shortage
ISLAMABAD, Nov 24 (APP):The Finance Ministry on Wednesday categorically refuted the contents of a news item published in a section of press on gas shortfall and termed it as completely misleading and out of context. “News item published in Daily The News titled ‘Govt couldn’t purchase gas Cargoes in time, admits Tarin’ is completely misleading… Continue reading Finance ministry refutes misleading news on gas shortage
Imported tea consumption goes down slightly
ISLAMABAD, Nov 24 (APP): The consumption of imported tea witnessed slight decrease of 0.55 percent during the first four months of the current fiscal year as compared to the corresponding period of last year. The tea imports during July-October (2021-22) stood at $188.307 million against the imports of $189.339 million during July-October (2020-21), according to… Continue reading Imported tea consumption goes down slightly
Finance ministry refutes misleading news on gas shortage
ISLAMABAD, Nov 24 (APP): The Finance Ministry on Wednesday categorically refuted the contents of a news item published in a section of press on gas shortfall and termed it as completely misleading and out of context. “News item published in Daily The News titled ‘Govt couldn’t purchase gas Cargoes in time, admits Tarin’ is completely… Continue reading Finance ministry refutes misleading news on gas shortage
Pakistan earns US $140m from travel services’ export in 3 months
ISLAMABAD, Nov 24 (APP):Pakistan earned US $140.994 million by providing different travel services in various countries during the first three months of the current financial year 2021-22. This shows the growth of 71.73 percent as compared to the US $82.100 million same services were provided during the corresponding period of the last fiscal year 2020-21,… Continue reading Pakistan earns US $140m from travel services’ export in 3 months
7th session of Pak-Russia intergovernmental commission begins Nov 24
ISLAMABAD, Nov 23 (APP): The 7th Session of Pak-Russia Intergovernmental Commission on Trade, Economic, Scientific and Technical Cooperation would be held on November 24-26 in Yekaterinburg, Russia. A high-level delegation led by Federal Minister for Economic Affairs, Omar Ayub Khan will be participating in the session, said a press release issued here on Tuesday. The… Continue reading 7th session of Pak-Russia intergovernmental commission begins Nov 24
Rupee gains 46 paisas against dollar
ISLAMABAD, Nov 23 (APP): The exchange rate of Pakistan rupee strengthened by 46 paisas against the US dollar in the interbank trading on Tuesday and closed at Rs174.30 as compared to the previous day’s closing of Rs174.76. According to the Forex Association of Pakistan (FAP), the buying and selling rates of dollars in the open… Continue reading Rupee gains 46 paisas against dollar
PSW 1st phase to complete in March 2022, Tarin expresses satisfaction over progress
ISLAMABAD, Nov 23 (APP): Adviser to the Prime Minister on Finance and Revenue Shaukat Tarin on Tuesday expressed satisfaction on the overall progress made to implement Pakistan Single Window (PSW), the first phase of which is under roll out and would be completed in March, 2022. The advisor was presiding over the second meeting of… Continue reading PSW 1st phase to complete in March 2022, Tarin expresses satisfaction over progress
Fertiliser review committee to take strict action against hoarders
ISLAMABAD, Nov 22 (APP):The Fertiliser Review Committee on Monday asked the provincial governments to take strict action against hoarders and those engaged in black marketing of fertilisers. The minister expressed his deep concern over the hoarding of an essential commodity for farmers and asked the provincial governments to take strict action against hoarders and those… Continue reading Fertiliser review committee to take strict action against hoarders
Asad for providing maximum resources to Balochistan
ISLAMABAD, Nov 22 (APP):Federal Minister for Planning, Development and Special Initiatives, Asad Umar Monday said that the government was committed to provide maximum share in federal resources to Balochistan for its speedy development. He said that the federal government would provide maximum resources to the Balochistan for development and bringing it on par with other… Continue reading Asad for providing maximum resources to Balochistan
ECC recommend allocation of Rs. 6,000mln for Communication Ministry
ISLAMABAD, Nov 22 (APP):The Economic Coordination Committee (ECC) of the Cabinet on Monday recommended the special allocation of funds Rs. 6,000 million for the Ministry of Communication. The ECC recommended the summary tabled by Ministry of Communication for special allocation of funds Rs. 6,000 million to initiate the process for improvement and rehabilitation program of… Continue reading ECC recommend allocation of Rs. 6,000mln for Communication Ministry
Pakistan-IMF agreement under EFF worth US$1. 1.059 billion finalized: Tarin
ISLAMABAD, Nov 22 (APP):Adviser to the Prime Minister on Finance and Revenue, Shaukat Tarin on Monday informed that an agreement between Pakistan and International Monetary Funds (IMF) under Extended Fund Facility (EFF) worth US $1.059 billion had been finalized. The adviser said that Pakistan and IMF had reached the US$1.059 billion agreement up to staff… Continue reading Pakistan-IMF agreement under EFF worth US$1. 1.059 billion finalized: Tarin
Supernet gets Rs. 100 mln projects
ISLAMABAD, Nov 22 (APP): Supernet Limited (“Supernet”) has been awarded three equipment supply projects consisting of equipment and services in the domains of satellite communications, telecommunications, and power with a combined equivalent value of Rs. 100 million. The projects have been awarded by a strategic organization thereby expanding the customer base of its Telecommunications and… Continue reading Supernet gets Rs. 100 mln projects
Fruit exports up by 21.29 percent in 4 months
ISLAMABAD, Nov 22 (APP): The exports of fruits from the country increased by 21.29 percent during the first four months of the current fiscal year as compared to the corresponding period of last year. The exports of fruits during July-October (2021-22) were recorded at $143.242 million against the exports of $118.101 million in July-October… Continue reading Fruit exports up by 21.29 percent in 4 months
300 MW Coal-Fired Power Project Gwadar to create over 1000 jobs for local
ISLAMABAD, Nov 22 (APP): The 300 MW Coal-Fired Power Project at Gwadar would create more than 1000 jobs for the local people and reduced the electricity shortage in the area. According to official source, the $ 542.32 million worth coal-fired power project having the capacity to produce 300 MW electricity would initiate under the China… Continue reading 300 MW Coal-Fired Power Project Gwadar to create over 1000 jobs for local
Rs 4.75 per unit increase in power tariff likely for October
ISLAMABAD, Nov 22 (APP): The Central Power Purchasing Agency (CPPA-G) has sought Rs 4.75 per unit increase in power tariff for October under monthly Fuel Cost Adjustment mechanism. According to the petition submitted to National Electric Power Regulatory Authority (NEPRA), the CPPA-G maintained that actual cost remained Rs.9.926 per unit against the reference fuel charges… Continue reading Rs 4.75 per unit increase in power tariff likely for October
Foreign Currency Account Scheme
KARACHI, Nov 22 (APP):The Foreign Exchange Rates Committee of Financial Market Association of Pakistan issued the following Base Rate, here on Monday. FOREIGN CURRENCY ACCOUNTS SCHEME BBA BID MAXIMUM RATES R A T E S FOR PAYMENT OF WITH INTEREST BY VALUE DATE AUTHORIZED DEALERS U.S. DOLLARS VALUE 22 11 21 For 3 monthsand over… Continue reading Foreign Currency Account Scheme
Foreign exchange rates
KARACHI, Nov 22 (APP):The Exchange Rates Committee of Financial Markets Association of Pakistan issued the following Exchange rates bulletin, here on Monday. VIDE SBP F.E. CIRCULAR NO.42 & 21.07.98 & 04.08.98 RESPECTIVELY. 6 MONTHS US DOLLAR 0.2235 22.11.2021 CONVERSION RATES FOR 22ND NOVEMBER 2021 FOR FOREIGN CURRENCYFOR FORWARD COVER FOR DEPOSITS (EXCLUDING FE 25 DEPOSITS)… Continue reading Foreign exchange rates
Hammad for WACOG legislation to meet increased demand of gas
ISLAMABAD, Nov 21 (APP): Minister for Energy Hammad Azhar on Sunday underlined the need for crafting Weighted Average Cost of Gas (WACOG) legislation to meet increased demand of the commodity especially in peak winter season. “During winters a demand spike occurs in local gas circuit which cannot be plugged by imported LNG till WACOG legislation,”… Continue reading Hammad for WACOG legislation to meet increased demand of gas
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