CPI inflation decelerates to 9.7% on YoY basis

ISLAMABAD, July 02 (APP): The Consumer Price Index (CPI) based monthly inflation decelerated to 9.7 percent on year-on-year (YoY) basis during the month of June 2021, from 10.9 percent during May 2021, Pakistan Bureau of Statistics (PBS) reported. On month-on-month (MoM) basis, it decreased by 0.2% in June as compared to a decrease of 0.1… Continue reading CPI inflation decelerates to 9.7% on YoY basis

SBP reserves increase $13m to $16,119.4m

ISLAMABAD, Jul 01 (APP): The Foreign exchange reserve held by the State Bank of Pakistan has increased by US $13 million to US $16,119.4 million during the week ending on June 25, 2021, State Bank of Pakistan (SBP) reported on Thursday. The total liquid foreign reserves held by the country stood at US $23,297.4 million.… Continue reading SBP reserves increase $13m to $16,119.4m

Revenue collection witnesses historic 18% growth, mounts to over Rs4.7 trillion

ISLAMABAD, Jul 1 (APP):The revenue collection by the Federal Board of Revenue (FBR) witnessed historic growth of 18 percent during the fiscal year 2020-21 and mounted to Rs4,732 billion against the collection of Rs3,997 billion during FY2019-20. According to provisional figures released by FBR here Thursday, the collection also surpassed the target of Rs4,691 billion… Continue reading Revenue collection witnesses historic 18% growth, mounts to over Rs4.7 trillion

Cement export increase 4.57%, reaches $253.584m in 11 months

ISLAMABAD, July 1 (APP): The exports of cement from the country witnessed an increase of 4.57 percent during the first eleven months of financial year 2020-21, against the exports of the corresponding period of last year. The cement exports from the country were recorded at $253.584 million during July-May (2020-21) against the exports of $242.505… Continue reading Cement export increase 4.57%, reaches $253.584m in 11 months

Bulls rule PSX for 3rd consecutive day as index gains 444 points

ISLAMABAD, Jul 1 (APP): The KSE 100-index of the Pakistan Stock Exchange (PSX) continued with bullish trend for third consecutive day on Thursday, gaining 444.55 points, with a positive change of 0.94 percent, closing at 47,800.57 points against 47,356.02 points on the last working day. A total of 760,008,762 shares were traded during the day… Continue reading Bulls rule PSX for 3rd consecutive day as index gains 444 points

Pakistan, UAE to further enhance cooperation in Customs, Inland taxes

ISLAMABAD, Jul 1 (APP): Pakistan and United Arab Emirates (UAE) Thursday agreed to further promote cooperation in the fields of customs and other inland taxes, besides learning from each other’s best practices to increase trade volume between the two countries. According to an FBR press statement, Ambassador of UAE in Pakistan Hamad Obaid Ibrahim Al… Continue reading Pakistan, UAE to further enhance cooperation in Customs, Inland taxes

Pb govt facilitating industrialists: Aslam Iqbal

LAHORE, July 01 (APP): Punjab Minister for Industries and Commerce Mian Aslam Iqbal on Thursday said that Punjab government was providing all possible facilities to the industrialists. He expressed these views during a meeting with a delegation of All Pakistan Textile Processing Mills Association (APTMA) here at the Civil Secretariat. The members of the delegation… Continue reading Pb govt facilitating industrialists: Aslam Iqbal

CPEC IT joint working group on cards: Asad Umar

ISLAMABAD, Jul 1 (APP): Minister for Planning, Development and Special Initiatives Asad Umar Thursday said that new joint working group for information technology was being established under the China Pakistan Economic Corridor (CPEC) framework. “It has been agreed to start a new joint working group for information technology under the CPEC framework,” the minister tweeted,… Continue reading CPEC IT joint working group on cards: Asad Umar

Country’s exports increase to $31.3 bln in FY21: Razak Dawood

ISLAMABAD, Jul 1 (APP): Adviser to Prime Minister on Commerce and Investment, Abdul Razak Dawood said Thursday that the country’s exports increased to 31.3 billion during the last fiscal year (2020-21), reflecting government’s successful trade policy. As Compared to the previous financial year (FY2020), exports increased by 18 percent during 2020-21, despite the negative impact… Continue reading Country’s exports increase to $31.3 bln in FY21: Razak Dawood

Petrol prices up by just Rs2/ltr against substantial hike in international market

ISLAMABAD, Jun 30 (APP): Despite a considerable increase in petroleum products in the international market, the government has enhanced petrol prices by just Rs2 per liter, with effective from July 1st, hence absorbing the price-hike impact by making adjustment in sales tax and petroleum levy. As compared to the regional markets, the prices of petrol… Continue reading Petrol prices up by just Rs2/ltr against substantial hike in international market

SECP becomes first govt agency to offer WhatsApp Support Service

ISLAMABAD, Jun 30 (APP): The Securities and Exchange Commission of Pakistan (SECP), to promptly response public queries regarding incorporation of companies, has introduced its WhatsApp Channel for Business Care. The WhatsApp help line number is first of its kind service in Pakistan’s Public sector, said a press release issued here. The WhatsApp service can be… Continue reading SECP becomes first govt agency to offer WhatsApp Support Service

Banks to remain close for public dealing on Thursday

KARACHI, Jun 30 (APP): For closure of annual accounts, bank holiday to be observed on Thursday and all the banks and financial institutions would remain closed for public dealing. The State Bank of Pakistan would remain closed for public dealing on Thursday, July 1 which should be observed as Bank Holiday enabling the bank to… Continue reading Banks to remain close for public dealing on Thursday

Govt aims to bring into cultivation 220 million acres of land: Cheema

ISLAMABAD, Jun 30 (APP): Special Assistant to the Prime Minister (SAPM) on Food Security Jamshed Iqbal Cheema Wednesday said that under the Agriculture Transformation Plan, the government would bring all the land into cultivation where human-being or a plant can survive all across the country. “We have 220 million acres of land and out of… Continue reading Govt aims to bring into cultivation 220 million acres of land: Cheema

Agriculture sector top priority of government: Fakhar

ISLAMABAD, Jun 29 (APP):Minister for National Food Security and Research Syed Fakhar Imam Tuesday said that agriculture sector development was the top priority of the current government and it had allocated huge resources for the development of sector. Addressing the closing ceremony of Nutribiz challenge 2021, organized by the Teamup and Sun Business network, Imam… Continue reading Agriculture sector top priority of government: Fakhar

CPEC’s 2nd phase, helps generate huge job opportunities, boost economic growth: BOI official

ISLAMABAD, Jun 29 (APP): The second phase of China Pakistan Economic Corridor (CPEC) has generated huge job opportunities and played proactive role to boost economic growth of the country. An official of Board of Investment (BOI) on Tuesday indicated that Chinese investment in multiple sectors had positive impact on employment, transfer of information and improving… Continue reading CPEC’s 2nd phase, helps generate huge job opportunities, boost economic growth: BOI official

Govt gives poverty alleviation road-map in Budget 2021-22: Tarin

ISLAMABAD, Jun 29 (APP): Federal Minister for Finance and Revenue, Shaukat Tarin on Tuesday said the government paved the way for inclusive development in the country by providing a poverty alleviation road-map in Budget 2021,for the first time in the country’s 74-year history. The previous governments did not make any serious efforts to eradicate poverty,… Continue reading Govt gives poverty alleviation road-map in Budget 2021-22: Tarin

Investors to start physical work on unit within six months: KP CM

PESHAWAR, Jun 29 (APP):Chief Minister Khyber Pakhtunkhwa Mahmood Khan on Tuesday directed the concerned authorities to make investors bound to start physical work on their industrial units within six months of allotment of their plots. He said in case of failure in starting practical work within the specified time period, the allotment of plot would… Continue reading Investors to start physical work on unit within six months: KP CM

National Assembly passes Rs8.487 trillion federal budget

ISLAMABAD, June 29 (APP): After over a two-week long debate, the National Assembly on Tuesday passed the federal budget with a total outlay of Rs 8.487 trillion, with around 19 percent additional allocations as compared to last year’s Rs 7.137 trillion. The Finance Bill 2021-22 was moved before the parliament by Finance Minister, Shaukat Tarin, which… Continue reading National Assembly passes Rs8.487 trillion federal budget

Pakistan earns $ 1708m from IT services’ export in 10 months

ISLAMABAD, Jun 29 (APP): Pakistan earned US $1708.120 million by providing different Information Technology (IT) services in various countries during the first ten months of financial year 2020-21. This shows growth of 45.88 percent as compared to US $1170.920 million earned through provision of services during the corresponding period of fiscal year 2019-20, Pakistan Bureau… Continue reading Pakistan earns $ 1708m from IT services’ export in 10 months

PSX turns around, gains 135 points to close at 47,137 points

ISLAMABAD, Jun 29 (APP): The KSE 100-index of the Pakistan Stock Exchange (PSX) turned around on Tuesday and witnessed bullish trend, gaining 135.42 points, with a positive change of 0.29 percent, closing at 47,137.77 points against 47,002.35 points on the last working day. A total of 580,766,245 shares were traded during the day compared to… Continue reading PSX turns around, gains 135 points to close at 47,137 points

Category: Business

Business news from Pakistan