Gold prices decrease by Rs 200 per tola

ISLAMABAD, Dec 29 (APP):The price of 24 karat per tola gold witnessed a decrease of Rs 200 and was sold at Rs 126,000 in the local market on Wednesday against its sale at Rs 126,200 the previous day. The price of 10 gram 24 karat gold also depreciated by Rs 171 to Rs 108,025 from… Continue reading Gold prices decrease by Rs 200 per tola

Fiscal deficit brought down to 1.1 pc in four months: Report

ISLAMABAD, Dec 29 (APP): Owing to prudent policies of the government, the fiscal deficit has been brought down to 1.1 percent of Gross Domestic Product (GDP) during the first four months of Fiscal Year 2021-22 against 1.7 percent deficit during the same period last year, official report said. In absolute terms the overall fiscal deficit… Continue reading Fiscal deficit brought down to 1.1 pc in four months: Report

Pakistan needs urban economy development: Adviser to CM

LAHORE, Dec 28 (APP):Adviser to Chief Minister Punjab on Economic Affairs, Planning and Development Dr Salman Shah said on Tuesday that Pakistan needs to develop urban economy, as the fastest urbanisation in the world is taking place in the country. He stated this in a meeting with business community including Lahore Chamber of Commerce &… Continue reading Pakistan needs urban economy development: Adviser to CM

Sufficient urea stock is available, no need of panic buying: Khusro

ISLAMABAD, Dec 28 (APP):Minister for Industries and Production Makhdoom Khusro Bakhtyar said that unlike the shortage of urea stock in the international market, Pakistan had surplus stock for Rabi season. “Urea price per bag in the international market is around Rs 11000 while that in Pakistan is only Rs 1800, therefore the huge difference is… Continue reading Sufficient urea stock is available, no need of panic buying: Khusro

SBP injects Rs 64 bn into market

Pak forex figure $18.55405 bn

KARACHI, Dec 28 (APP):State Bank of Pakistan on Tuesday injected Rs 64 billion into money market for three days as reverse repo purchase through its open market operation. Out of 9 bids of Rs 74 billion, 7 bids of Rs 64 billion were accepted. The rate of return accepted is 9.80 percent per annum, said… Continue reading SBP injects Rs 64 bn into market

Meezan Bank offers financing facility for middle-income customers to buy car

ISLAMABAD, Dec 28 (APP):Meezan Bank, Pakistan’s first and largest Islamic bank, and Pakistan Suzuki Motor Company Limited have offered attractive financing benefits to facilitate the middle-income segment and young customers in availing Car Ijarah facility through Pak Suzuki One Window Solution. Group Head Consumer Finance, Meezan Bank Arshad Majeed signed the MoU with Executive Officer,… Continue reading Meezan Bank offers financing facility for middle-income customers to buy car

Sports goods’ export surge 24.48% to $134.8mln in 5 months

ISLAMABAD, Dec 28 (APP):The exports of sports goods witnessed an increase of 24.48 percent during the first five months of current financial year (2021-22) as compared to the exports of corresponding period of last year. Pakistan exported sport goods worth $134.803 million during July-November (2021-22) against the exports of $108.296 million during July-November (2020-21), showing… Continue reading Sports goods’ export surge 24.48% to $134.8mln in 5 months

Sports goods’ export surge 24.48% in 5 months

ISLAMABAD, Dec 28 (APP): The exports of sports goods witnessed an increase of 24.48 percent during the first five months of current financial year (2021-22) as compared to the exports of corresponding period of last year. Pakistan exported sport goods worth $134.803 million during July-November (2021-22) against the exports of $108.296 million during July-November (2020-21),… Continue reading Sports goods’ export surge 24.48% in 5 months

PTCL launches cutting-edge cyber security services for corporate customers

ISLAMABAD, Dec 27 (APP): Pakistan Telecommunication Company Limited (PTCL) has launched new cyber security services based on its cutting-edge Security Operations Center (SOC) to protect its corporate and financial customers against cyber-attacks. The SOC-based services will reinforce digital security by building a safety wall against a range of cyber security threats to customers’ data, digital… Continue reading PTCL launches cutting-edge cyber security services for corporate customers

Expo 2020 Dubai attracts more than 8 mln visitors

ISLAMABAD, Dec 27 (APP): Visits to Expo 2020 Dubai continue to climb substantially, increasing to 8,067,012 in the period up to 27 December as the most significant global gathering of 2021 continues to welcome visitors safely and responsibly. Expo’s stringent COVID-19 safety measures are designed to protect everyone on site, and include mandatory mask-wearing –… Continue reading Expo 2020 Dubai attracts more than 8 mln visitors

Pakistan’s GDP growing at 5%: Report

ISLAMABAD, Dec 27 (APP):The average monthly economic indicator (MEI) for the first five months of current fiscal year (2021-22) indicates that average economic (GDP) growth of Pakistan during the period could be estimated at around 5%, said a monthly report issued by the ministry of finance and revenue on Monday. So far in the current… Continue reading Pakistan’s GDP growing at 5%: Report

Surplus rice to be exported in new international markets: Fakhar Imam

SYED FAKHAR IMAM, FEDERAL MINISTER FOR NATIONAL FOOD SECURITY AND RESEARCH, ADDRESSING AN EVENT ON DICE AGRICULTURE AND FOOD SCIENCES AT AGRICULTURE UNIVERSITY MULTAN ON DECEMBER 27, 2021.

MULTAN, Dec 27 (APP):Federal Minister for National Food Security and Research Syed Fakhar Imam said on Monday that surplus stock of rice would be exported and new markets were being explored globally. The country has stock of over eight million tonnes of rice, however, local consumption is nearly 3.5 million tonnes. He said this while… Continue reading Surplus rice to be exported in new international markets: Fakhar Imam

Fruit exports up by 27.69pc, vegetable exports surge 31.47pc

ISLAMABAD, Dec 27 (APP): The exports of fruits from the country increased by 27.69 percent during the first five months of the current fiscal year as compared to the corresponding period of last year. The exports of fruits during July-November (2021-22) were recorded at $177.316 million against the exports of $138.859 million in July-November (2020-21),… Continue reading Fruit exports up by 27.69pc, vegetable exports surge 31.47pc

Sufficient FO stock available to meet country’s winter energy needs: Hammad

ISLAMABAD, Dec 26 (APP):Minister for Energy Hammad Azhar on Sunday clarified some ‘misconceptions’ about availability and consumption of Furnace Oil (FO), saying it was ‘well stocked’ to meet winter energy needs of the country. “In summers Pakistan faced a moderate shortage of furnace oil as the FO (based) power plants ran more than last year… Continue reading Sufficient FO stock available to meet country’s winter energy needs: Hammad

Khusro ask industry to increase 30 percent urea supplies countrywide

ISLAMABAD, Dec 24 (APP):Federal Minister for Industries and Production, Makhdum Khusro Bakhtyar on Friday asked the industry to increase the urea supplies by 30 percent ie about 3000-5000 metric ton countrywide to ease down the market. After extensive deliberations, he stated that plants of Fatima Fertilizer based in Sindh and Agri Tech units would be… Continue reading Khusro ask industry to increase 30 percent urea supplies countrywide

Price of potatoes, onions, other food items go down

ISLAMABAD, Dec 24 (APP): The prices of various food items went down during the week ending on December 23 as compared to the previous week, according to the Sensitive Price Indicator (SPI) data released by Pakistan Bureau of Statistics (PBS) here Friday. According to the data, the food commodities that witnessed decrease in prices on… Continue reading Price of potatoes, onions, other food items go down

Efforts afoot for ‘good management’ of gas supply to domestic consumers despite constraints: Hammad

ISLAMABAD, Dec 24 (APP):Minister for Energy Hammad Azhar on Friday said Sui Southern and Northern companies were making all-out efforts to ensure ‘good management’ of gas supply to domestic consumers despite several constraints including depletion of existing natural gas reserves and the increased demand in the peak winter season. Addressing a news conference here, he… Continue reading Efforts afoot for ‘good management’ of gas supply to domestic consumers despite constraints: Hammad

Foreign exchange rates

KARACHI, Dec 24 (APP):The Exchange Rates Committee of Financial Markets Association of Pakistan issued the following Exchange rates bulletin, here on Friday. LIBOR FOR CALCULATING INTEREST ON SPECIAL US DOLLAR BONDS VIDE SBP F.E. CIRCULAR NO.42 & 21.07.98 & 04.08.98 RESPECTIVELY. 6 MONTHS US DOLLAR 0.3264 24.12.2021 CONVERSION RATES FOR 24TH DECEMBER 2021 FOR FOREIGN… Continue reading Foreign exchange rates

FBR engages with youth through TACS to promote education about taxation

ISLAMABAD, Dec 23 (APP):The Federal Board of Revenue (FBR) has engaged with the youth on campus enrolled at various leading public and private universities by signing a Memorandum of Understanding (MoU) including Quaid-e-Azam University, Islamabad. In perpetuation of FBR outreach activities for promoting tax compliance and citizenship education, FBR has engaged with the youth on… Continue reading FBR engages with youth through TACS to promote education about taxation

CCoE reviews recommendations to enhance domestic LPG production

ISLAMABAD, Dec 23 (APP): Cabinet Committee on Energy (CCoE) Thursday asked the petroleum division to review the recommendations for enhancing domestic Liquified Petroleum Gas (LPG) production and forward a summary in this regard to the Economic Coordination Committee of the Cabinet (ECC). The CCoE was held here under the Chairmanship of Federal Minister for Planning,… Continue reading CCoE reviews recommendations to enhance domestic LPG production

Category: Business

Business news from Pakistan