Minister for Planning, Development and Special Initiatives Asad Umar has said the government was charging only 16.4% taxes on petrol which was around 33% less than the time of Pakistan Muslim League (N) government when the tax rate was as high as 52%. “The current Petroleum Development Levy (PDL) is Rs 5.62 and sales tax… Continue reading Govt charging 16.4% taxes on petrol against 52% in previous govt: Asad Umar
Category: Business
Business news from Pakistan
Govt committed to provide maximum relief to masses: Tarin
ISLAMABAD, Sep 17 (APP):Federal Minister for Finance and Revenue, Shaukat Tarin on Friday said, the government is committed to provide maximum relief to the masses. Reviewing the price trend of basic commodities, the Finance Minister stated that the Government is taking a slew of administrative, policy and relief measures to absorb the upward pressure on… Continue reading Govt committed to provide maximum relief to masses: Tarin
Pakistan’s economy shifting from consolidation to growth phase: Tarin
ISLAMABAD, Sep 16 (APP):Federal Minister for Finance and Revenue, Shaukat Tarin on Thursday underlined that due to prudent fiscal policies and strict financial discipline, Pakistan’s economy was shifting from consolidation to growth phase. He said the government’s objective was to steer economy towards an inclusive and sustainable economic growth with key focus on bottom-up approach… Continue reading Pakistan’s economy shifting from consolidation to growth phase: Tarin
Senate body for completing CPEC projects on priority
ISLAMABAD, Sep 16 (APP):The Senate Standing Committee on Planning, Development, and Special Initiatives Thursday directed the China Pakistan Economic Corridor (CPEC) Authority to complete the under implementation projects on fast track basis by regaining confidence of the Chinese companies. “According to my personal sources, the Chinese are not happy with the current progress of CPEC… Continue reading Senate body for completing CPEC projects on priority
Tourism agreement between Sino- Pak cities to promote tourism: Fareena
ISLAMABAD, Sep 16 (APP):Federal Secretary Board of Investment (BOI), Ms. Fareena Mazhar on Thursday said that the signing of an Memorandum of Understanding (MoU) between the cities of China and Pakistan will help to promote tourism in Shanghai Cooperation Organization (SCO) countries. Secretary Board of Investment (BOI), Ms. Fareena Mazhar expressed that the signing of… Continue reading Tourism agreement between Sino- Pak cities to promote tourism: Fareena
Pakistan committed in averting emerging food crisis in Afghanistan: Imam
ISLAMABAD, Sep 16 (APP):Minister for National Food Security and Research Syed Fakhar Imam here on Thursday reaffirmed the commitment of the Government of Pakistan to play its role in supporting World Food Program to uplift the people of Afghanistan from humanitarian crisis. Talking to WFP Pakistan Country Director, Chris Kaye, who called on him, Imam… Continue reading Pakistan committed in averting emerging food crisis in Afghanistan: Imam
German investors express interest to bring investment in various sectors
ISLAMABAD, Sep 15 (APP): The German investors have expressed interest to bring investment in various sectors and also observe new avenues to enhance the business and investment ties between Pakistan and Germany. They expressed interest in dairy industry, communication, automobile and service sector as potential sectors in regards to investment in Pakistan, said a press… Continue reading German investors express interest to bring investment in various sectors
Industrial output grows by 2.25% in July
The Large Scale Manufacturing Industries’ (LSMI) production grew up by 2.25 percent during the first month of current fiscal year (July) as compared to the corresponding month of last year, Pakistan Bureau of Statistics (PBS) reported. The LSMI Quantum Index Number (QIM) was recorded at 138.01 points during July 2021 against 134.97 points during July… Continue reading Industrial output grows by 2.25% in July
Provincial governments asked to announce wheat release policy at earliest
ISLAMABAD, Sep 15 (APP): Ministry of National Food Security and Research has asked the provincial governments to announce their wheat release policy at earliest in order to bringing down and maintain prices of wheat and flour in local markets by ensuring smooth supply of grains to millers for supplying of flour at affordable prices. The… Continue reading Provincial governments asked to announce wheat release policy at earliest
Govt releases Rs1,624.770 million for 13 petroleum sector projects
ISLAMABAD, Sep 15 (APP): The government has so far released an amount of Rs1,624.770 million to execute seven ongoing and six new petroleum-related projects under the Public Sector Development Programme (PSDP 2021-22) aimed at accelerating oil and gas exploration activities and achieving self-sufficiency in the energy sector. According to the official data as of September… Continue reading Govt releases Rs1,624.770 million for 13 petroleum sector projects
Iran wants promotion of digital markets with Pakistan to boost bilateral trade: Envoy
ISLAMABAD, Sep 14 (APP):Iran and Pakistan have great scope to enhance mutual trade relations and should consider setting up digital markets to boost bilateral trade up to the potential of both countries. This was stated by Syed Mohammad Ali Hosseini, Ambassador of Iran while interacting with the business community during his visit to Islamabad Chamber… Continue reading Iran wants promotion of digital markets with Pakistan to boost bilateral trade: Envoy
Public debt on declining trend, inflation to remain at around 8%, says Tarin
ISLAMABAD, Sep 14 (APP): Federal Minister for Finance and Revenue, Shaukat Tarin said Tuesday that the country’s net public debt was on declining trend and reduced to 81.8 percent of debt-to-GDP ratio during the fiscal year 2020-21, expecting that it would come further down during the current fiscal year. Addressing a press conference here the… Continue reading Public debt on declining trend, inflation to remain at around 8%, says Tarin
CCoE approves Pakistan Oil Refinery Policy 2021
The meeting of the Committee was held here under the chairmanship of Minister for Planning, Development and Special Initiatives Asad Umar.The committee discussed in detail the proposed policy presented by the Power Division. The Chairman of the Committee appreciated the work and efforts of the Petroleum Division and highly knowledgeable and experience professional involved in… Continue reading CCoE approves Pakistan Oil Refinery Policy 2021
CPEC 10th JCC to be held next week: Khalid Mansoor
Special Assistant to Prime Minister on CPEC Khalid Mansoor said on Monday that Pakistan was committed to take forward the journey of development under the second phase of China China Pakistan Economic Corridor (CPEC) at fast speed by making it a safe and secure corridor to enhance bilateral trade ties. He said he was very… Continue reading CPEC 10th JCC to be held next week: Khalid Mansoor
Dollar gains 07 paisas against Rupee
According to Forex Association of Pakistan (FAP), the buying and selling rates of dollar in the open market were recorded at Rs168.6 and Rs169.4 respectively. The price of euro was depreciated by 88 paisas and closed at Rs198.17 against the last day’s trading of Rs199.05, the State Bank of Pakistan reported. The Japanese Yen remained… Continue reading Dollar gains 07 paisas against Rupee
Govt taking steps to resolve problems of business community: Usman Dar
SIALKOT, Sep 11 (APP): Special Assistant to the Prime Minister on Youth Affairs Usman Dar said the government was well-aware of the problems being faced by the business community and making all out sincere efforts for their early resolution. Talking to the business community at a dinner hosted by him last night, he said the… Continue reading Govt taking steps to resolve problems of business community: Usman Dar
CCoP approves highest bid of Rs 1.96 bn for privatization of Services International Hotel Lahore
ISLAMABAD, Sep 10 (APP):The Cabinet Committee on Privatization (CCoP) Friday approved the summary tabled by the Privatization Commission Board, recommending the highest bid of about Rs 1.96 billion received after auction proceedings for privatization of Services International Hotel, Lahore. Federal Minister for Finance and Revenue, Shaukat Tarin, presided over the meeting that was attended by… Continue reading CCoP approves highest bid of Rs 1.96 bn for privatization of Services International Hotel Lahore
Price of sugar, rice go down
ISLAMABAD, Sep 10 (APP): The prices of food items including sugar and rice went down during the week ending on September 9, as compared to the previous week, the Sensitive Price Indicator (SPI) data released by Pakistan Bureau of Statistics (PBS) Friday revealed. According to the data, the prices of food items that witnessed decrease… Continue reading Price of sugar, rice go down
Pakistan receives $2.66 bln remittances in August
Islamabad, Sep 10 (APP): Workers’ remittances continued their strong trend, reaching $2.66 billion in August 2021, State Bank of Pakistan (SBP) reported Friday. This is the sixth consecutive month when inflows recorded around $2.7 billion on average, and the fifteen consecutive month they have been above $2 billion. In terms of growth, remittances increased by… Continue reading Pakistan receives $2.66 bln remittances in August
NADRA launches Contactless Biometric Verification Services for Banking
The service was launched during the visit of Dr. Reza Baqir, Governor State Bank of Pakistan (SBP) to NADRA Headquarters, said a news release issue here on Thursday. The Banks in Pakistan will make use of the digital App on smart phones capturing and verifying biometrics of the potential account holders from their homes. With… Continue reading NADRA launches Contactless Biometric Verification Services for Banking
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