Pakistan moving towards self-reliance, says Tarin

  ISLAMABAD, Jun 25 (APP): Federal Minister for Finance and Revenue, Shaukat Tarin said Friday that the country was moving forward to a self-reliance and stability. In a tweet, the federal minister said that he had summarized the long-term benefits of Budget 2021-2022 at the National Assembly on Friday. “I have summarised the long-term benefits… Continue reading Pakistan moving towards self-reliance, says Tarin

PSX gains 61 points to close at 47,962 points

ISLAMABAD, Jun 24 (APP): The KSE 100-index of the Pakistan Stock Exchange (PSX) on Thursday gained 61.84 points, with a positive change of 0.13 percent, closing at 47,962.54 points against 47,900.70 points on the last working day. A total of 638,843,404 shares were traded during the day compared to the trade of 619,119,613 shares the… Continue reading PSX gains 61 points to close at 47,962 points

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SECP specifies regulatory framework for Debt and Hybrid ETFs

ISLAMABAD, Jun 24 (APP): In line with its objectives of creating a competitive and conducive playing field and to diversify the range of Exchange Traded Funds (ETFs) available to investors, the Securities and Exchange Commission of Pakistan (SECP) has specified the framework for issuance of Debt and Hybrid ETFs through Circular No 20 of 2021.… Continue reading SECP specifies regulatory framework for Debt and Hybrid ETFs

Jazz secures telecom sector’s largest credit facility to support 4G network rollout

ISLAMABAD, Jun 24 (APP):Jazz has secured a PKR 50 billion syndicated credit facility from a banking consortium led by HBL. This 10-year facility will be used to finance the company’s ongoing 4G network rollouts and technology upgradation. This is the first of its kind facility extended to the Telecom sector in terms of the amount and tenor, said… Continue reading Jazz secures telecom sector’s largest credit facility to support 4G network rollout

Currency rates of NBP

KARACHI, Jun 24 (APP): Following are the selling/buying rates of major currencies issued by the National Bank of Pakistan (NBP), here on Thursday. CURRENCY SELLING BUYING USD 160.64 156.96 GBP 224.19 219.03 EUR 191.51 187.44 JPY 1.4473 1.4141 SAR 42.87 41.80 AED 43.75 43.01

Foreign Currency Account Scheme

KARACHI, Jun 24 (APP):The Foreign Exchange Rates Committee of Financial Market Association of Pakistan issued the following Base Rate, here on Thuesday. 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 24-06-21 For 3 months and over but… Continue reading Foreign Currency Account Scheme

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Foreign exchange rates

KARACHI, Jun 24 (APP):The Exchange Rates Committee of Financial Markets Association of Pakistan issued the following exchange rates bulletin, here on Thuesday. LIBOR FOR CALCULATING INTEREST ON SPECIAL US DOLLAR BONDS VIDE SBP F.E. CIRCULAR NO.42 & 21.07.98 & 04.08.98 RESPECTIVELY. LIBOR VALUE 6 MONTHS US DOLLAR 0.1606 24.06.2021 CONVERSION RATES FOR 21TH JUNE 2021… Continue reading Foreign exchange rates

Punjab Industries Minister reviews FIEDMC issues

LAHORE, June 23 (APP): Provincial Minister for Industries and Commerce Mian Aslam Iqbal here Wednesday chaired a meeting to review Industry colonization, development work and future course of action for industrial zones under FIEDMC (Faisalabad Industiral Estates Development and Management Company). The Minister said that FIEDMC should focus on colonization along with speedy completion of… Continue reading Punjab Industries Minister reviews FIEDMC issues

ECC approves Rs9855 million supplementary grants

ISLAMABAD, Jun 23 (APP): The Economic Coordination Committee (ECC) of the Cabinet on Wednesday approved Technical Supplementary Grants (TSGs) worth Rs 9855.984 million for various divisions. The cabinet committee, the meeting of which was chaired by Federal Minister for Finance and Revenue, Shaukat Tarin approved Rs. 300 million TSG for allocation from Public Sector Development… Continue reading ECC approves Rs9855 million supplementary grants

Tarin seeks comprehensive proposal for divestment of Mari Petroleum Company

ISLAMABAD, Jun 23 (APP): Federal Minister for Finance and Revenue, Shaukat Tarin Wednesday directed the Privatization Commission and Ministry of Petroleum to come up with a comprehensive proposal for divestment of government shares in Mari Petroleum Company Limited. The minister while chairing the meeting of Cabinet Committee on Privatization (CCoP), said that the divestment issue… Continue reading Tarin seeks comprehensive proposal for divestment of Mari Petroleum Company

Seafood exports increase by 2.6% in 11 months, 9.5% in May

ISLAMABAD, Jun 23 (APP): The exports of fish and fish preparations increased by 2.6 percent during first eleven month s of the current fiscal year as compared to the corresponding period of last year. The seafood exports during July-May (2020-21) were recorded at $383.088 million against the exports of $373.382 million in July-May (2019-20), showing… Continue reading Seafood exports increase by 2.6% in 11 months, 9.5% in May

Energy flows where attention goes: European expertise in Pakistan

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ISLAMABAD, Jun 22 (APP): Pakistan spans plains, deserts, forests, and plateaus, ranging from the Arabian Sea to the mountains of the Karakoram and Hindu Kush. The nation’s energy mix is dominated by thermal power, with almost 60% of electricity generated from oil-, gas- and coal-fired power plants. Fossil fuels are neither environmentally sustainable nor cheap:… Continue reading Energy flows where attention goes: European expertise in Pakistan

Gold imports fall by 26.83% in 11 months

ISLAMABAD, Jun 22 (APP): The gold imports decreased by 26.83 percent during the first eleven months of the current fiscal year as compared to the corresponding period of last year, Pakistan Bureau of Statistics (PBS) reported. The gold imports during July-May (2020-21) were recorded at $8.508 million as compared to the imports of $11.627 million… Continue reading Gold imports fall by 26.83% in 11 months

Rs5.8 trn tax target is quite achievable: Dr Waqar

ISLAMABAD, Jun 21 (APP):Special Assistant to the Prime Minister on Finance and Revenue Dr Waqar Masood Monday said the government had not imposed any new tax and the revenue target of Rs5.8 trillion for the upcoming fiscal year 2021-22 would be achieved by expanding tax base in the country. Addressing a press conference here along… Continue reading Rs5.8 trn tax target is quite achievable: Dr Waqar

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Provinces asked to follow ICT in bringing down prices of essential commodities

ISLAMABAD, Jun 21 (APP): Federal Minister for Finance and Revenue Shaukat Tarin on Monday directed the provincial governments to mobilize their teams as was done by the Islamabad Capital Territory administration for strict monitoring of prices to provide relief to the common man. The Minister was presiding over the meeting of the National Price Monitoring… Continue reading Provinces asked to follow ICT in bringing down prices of essential commodities

Exports increase 16.42% to Rs3.615 trillion in 11 months; 14.59% in May

ISLAMABAD, Jun 21 (APP):The exports from Pakistan in rupee term increased by 16.42 percent during the first eleven months of the current fiscal year as compared to corresponding period of last year, Pakistan Bureau of Statistics (PBS) reported. The exports during July–May (2020 – 2021) totaled Rs.3,615,857 million as against Rs.3,105,799 million during the corresponding… Continue reading Exports increase 16.42% to Rs3.615 trillion in 11 months; 14.59% in May

Other Leather Manufactures exports increase record 49.23%

ISLAMABAD, Jun 21 (APP): Other Leather Manufactures exports during first eleven months of FY 2020-21 grew by 49.23 per cent as compared to the exports of the corresponding period of last year. During the period from July-April 20-21, other leather manufactures exported leather products worth US $14,493 thousand as compared to worth US$ 9,712 thousand… Continue reading Other Leather Manufactures exports increase record 49.23%

IMF program is intact, new mission in coming August: Ministry of Finance

2nd round of Pak-Afghan negotiations on double taxation concludes

ISLAMABAD, Jun 20 (APP): The International Monetary Fund (IMF) program is intact and a new mission is expected to arrive in August to review full year’s economic performance. The government is committed to reforms and has made significant progress since the program was launched and subsequently put on hold because of Covid19, the spokesman of… Continue reading IMF program is intact, new mission in coming August: Ministry of Finance

FBR clarifies “proposed amendment in Finance Bill, 2021”

ISLAMABAD, Jun 20 (APP): Federal Board of Revenue has issued a clarification on a news story appearing in ‘Daily Times’ wrongly portraying that a proposed amendment in the Finance Bill, 2021 makes it mandatory to make payment of total assessed demand for filing of first appeal. FBR has explained the relevant section of the enforced… Continue reading FBR clarifies “proposed amendment in Finance Bill, 2021”

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