Category: Business

Business news from Pakistan

Foreign Currency Account Scheme

KARACHI, Sep 03 (APP):The Foreign Exchange Rates Committee of Financial Market Association of Pakistan issued the following Base Rate, here on Friday. 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 03-09-21 For 3 months and over but… Continue reading Foreign Currency Account Scheme

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Foreign exchange rates

KARACHI, Sep 03 (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. LIBOR VALUE 6 MONTHS US DOLLAR 0.1519 03.09.2021 CONVERSION RATES FOR 03RD SEPTEMBER 2021… Continue reading Foreign exchange rates

Asad Umar reviews progress of South Balochistan Development Programme

Sustainability in exports only recipe to cope with economic challenges: Asad Umar

ISLAMABAD, Sep 02 (APP):Minister for Planning, Development, and Special Initiatives Asad Umar chaired a progress review meeting on the South Balochistan Development Plan here on Thursday and expressed satisfaction over the progress of the projects under the Plan. In line with the vision of the prime minister for the development of unprivileged and less developed… Continue reading Asad Umar reviews progress of South Balochistan Development Programme

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Pakistan witnesses one of smallest increase in debt-to-GDP ratio during pandemic

ISLAMABAD, Sep 2 (APP): Pakistan witnessed one of the smallest increase in its Debt-to-GDP ratio during the Covid-19 pandemic period as it witnessed minimal hike of 1.7 percent compared to 13 percent rise in global debt, Finance Ministry said here Thursday. Responding to some media reports regarding increase in public debt during last three years,… Continue reading Pakistan witnesses one of smallest increase in debt-to-GDP ratio during pandemic

Razak Dawood tested positive for COVID-19

ISLAMABAD, Sep 02 (APP): Adviser to Prime Minister on Commerce and Investment have tested positive for COVID-19 and have mild symptoms. “I have isolated myself at home and prayers requested from friends”, the adviser said on his official twitter account on Thursday.  

NBP Exchange Rates

KARACHI, Sep 02 (APP): Treasury Management Division of National Bank of Pakistan (NBP) on Thursday issued the following exchange rates. CURRENCY SYMBOL TT Selling TT Buying U.S DOLLAR USD 167.35 166.85 EURO EUR 198.49 197.90 JAPANESE YEN JPY 1.5217 1.5171 BRITISH POUND GBP 230.54 229.85 SWISS FRANC CHF 182.84 182.29 CANADIAN DOLLAR CAD 132.52 132.12… Continue reading NBP Exchange Rates

Foreign Currency Account Scheme

KARACHI, Sep 02 (APP): The Foreign Exchange Rates Committee of Financial Market Association of Pakistan issued the following Base Rate, here on Thursday. 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 02-09-21 For 3 months and over… Continue reading Foreign Currency Account Scheme

Foreign exchange rates

KARACHI, Sep 02 (APP): The Exchange Rates Committee of Financial Markets Association of Pakistan issued the following exchange rates bulletin, here on Thursday.. 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 0.1496 02.09.2021 CONVERSION RATES FOR 02ND SEPTEMBER… Continue reading Foreign exchange rates

Over 8.46 million bales of cotton production expected this year:Fakhar

ISLAMABAD, Sep 01 (APP):The Cotton Crop Assessment Committee (CCAC) on Wednesday told over 8.46 million bales of cotton production was expected during current season. The committee met here with Syed Fakhar Imam, Federal Minister for National Food Security and Research in the chair. Representatives of cotton growers, provincial agriculture departments, associations and senior officials of… Continue reading Over 8.46 million bales of cotton production expected this year:Fakhar

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National Tax Council meets to harmonize taxes

ISLAMABAD, Sep 1 (APP):The first meeting of the National Tax Council (NTC) was held on Wednesday to harmonize taxes and reduce cost of doing business in the country. Federal Minister for Finance and Revenue, Shaukat Tarin presided over the NTC meeting, according to press statement issued by the finance ministry. Speaking on the occasion, the… Continue reading National Tax Council meets to harmonize taxes

Pakistani E-Sports market gains promising momentum amid organizers, sponsors’ induction

ISLAMABAD, Sep 1 (APP): Pakistan after enjoying a celebrated reign in the sports arenas with one of the phenomenal expressions of passion and sportsmen spirit has gained promising momentum in E-Sports being played online with intricate minds. Gone are the days where cricket and hockey attracted Pakistani youth, the recent trends show Pakistani youth attraction… Continue reading Pakistani E-Sports market gains promising momentum amid organizers, sponsors’ induction

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CPI inflation remains in single digit at 8.4% in August

  ISLAMABAD, Sep 1 (APP): The Consumer Price Index (CPI), based on monthly inflation remained in single digit, witnessing an increased of 8.4 percent during the month of August 2021 as compared to the corresponding month of the last year, Pakistan Bureau of Statistics (PBS) reported here on Wednesday. On month-on-month basis, it increased by… Continue reading CPI inflation remains in single digit at 8.4% in August

GB development top priority: Shaukat Tarin

ISLAMABAD, Aug 31 (APP): Federal Minister for Finance and Revenue, Shaukat Tarin said on Tuesday that development of the Gilgit-Baltistan was the top priority of the present government. During a meeting with the Chief Minister Gilgit-Baltistan, Khalid Khursheed here, the minister said all possible steps would be taken to ensure timely provision of funds for… Continue reading GB development top priority: Shaukat Tarin

Govt reduces prices of all petroleum products

Fuel subsidy relief package- a timely measure to provide respite to inflation-stricken people

ISLAMABAD, Aug 31 (APP): Despite international price fluctuation in petroleum products and anticipated increase in future prices, the government on Tuesday reduced prices of all petroleum products to provide relief to the consumers. According to press statement issued by the finance ministry, the price of petrol has been reduced by Rs1.50 per liter, from Rs119.80… Continue reading Govt reduces prices of all petroleum products

Pak consortium wins offshore E&P block in Abu-Dhabi: Hammad

ISLAMABAD, Aug 31 (APP): Minister for Energy Hammad Azhar on Tuesday said that a consortium of four Pakistani companies under the Energy Ministry had been awarded exploration rights to a prolific offshore block in Abu-Dhabi. “We are proud to announce that a consortium of four Pakistani companies under the ministry of energy have been awarded… Continue reading Pak consortium wins offshore E&P block in Abu-Dhabi: Hammad

PSX continues with bullish trend, gains 54 points to close at 47,419 points

ISLAMABAD, Aug 31 (APP): The KSE 100-index of the Pakistan Stock Exchange (PSX) continued with bullish trend on Tuesday, gaining 54.04 points, with a positive change of 0.11 per cent, closing at 47,419.74 points against 47,365.70 points on the last working day. A total of 378,832,096 shares were traded during the day compared to the… Continue reading PSX continues with bullish trend, gains 54 points to close at 47,419 points

ECC approves funds to meet RHC liabilities,  grants Rs50bln TSG

ISLAMABAD, Aug 31 (APP): The Economic Coordination Committee (ECC) of the Cabinet here on Tuesday approved funds to meet emergent liabilities of the Roosevelt Hotel Corporation (RHC) including payment of local taxes and utilities. The summary for funds was presented by the Aviation Division before ECC, the meeting of which was presided over by the… Continue reading ECC approves funds to meet RHC liabilities,  grants Rs50bln TSG

PRMI, key initiative for modernization, regulation of local business: Secretary BOI

Fareena Mazhar

ISLAMABAD, Aug 30 (APP):Federal Secretary, Board of Investment (BOI), Fareena Mazhar on Monday said Pakistan Regulatory Modernization Initiatives (PRMI) was a key initiative of the government for the modernization and regulation of local business for providing a conducive business environment in the country. Implementation of these reforms, initiated by BOI, was part of the broader… Continue reading PRMI, key initiative for modernization, regulation of local business: Secretary BOI

Pakistan earns US $2123 million from IT services’ export during FY 2020-21

ISLAMABAD, Aug 29 (APP): Pakistan earned US $2123.035 million by providing different information technology (IT) services in various countries during the fiscal year 2020-21. This shows growth of 47.44 percent when compared to US $1439.970 million earned through provision of services during the corresponding period of fiscal year 2019-20, Pakistan Bureau of Statistics (PBS) reported.… Continue reading Pakistan earns US $2123 million from IT services’ export during FY 2020-21

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