ISLAMABAD, Jul 19 (APP): Federal Minister for Finance and Revenue, Shaukat Tarin, chaired the first meeting of the Capital Market Advisory Council (CMAC), that was established to introduce reforms in the capital markets in the country. According to press statement issued by the Finance Ministry here, Special Assistant to Prime Minister on Finance and Revenue… Continue reading Tarin chairs CMAC meeting to reform capital market
Category: Business
Business news from Pakistan
Economic and industrial boost on govt agenda: Dawood
LAHORE, Jul 19 (APP): Advisor to Prime Minister on Commerce and Investment Abdul Razak Dawood has said economic and industrial boost was government’s top priority and all problems of the industrial sector would be solved amicably. He said that Pakistan was shifting from trading to manufacturing, which was key to economic stability. Speaking at the… Continue reading Economic and industrial boost on govt agenda: Dawood
Current Account posts 10 years’ record low deficit of $1.85 bn in FY21
ISLAMABAD, July 19 (APP): Current Account of Pakistan posted the record 10 years’ low deficit of $1.85 billion during the year 2020-21 (Jul-Jun) which accounts for around 0.6% of the Gross Domestic Product (GDP). The deficit outturn is also in line with SBP expectations which had earlier announced that the current account in deficit for… Continue reading Current Account posts 10 years’ record low deficit of $1.85 bn in FY21
Exports jump 18.28% in FY21, 70% in June
The country’s exports posted record growth of 18.28% in Fiscal Year 2020-21 (June-July) over the last year besides witnessing a surge of 70.67% in June 2021 compared to same month of last year. According to the provisional figures compiled by the Pakistan Bureau of Statistics (PBS) issued on Monday, exports from Pakistan during June, 2021… Continue reading Exports jump 18.28% in FY21, 70% in June
Output of LCVs increase 63.21 percent in 11 months
ISLAMABAD, Jul 19 (APP): The production of Light Commercial Vehicles (LCVs) has witnessed 63.21 percent increase during the first eleven months of the financial year 2020-21 against the output of the same period of last fiscal year. As many as 18,059 LCVs were manufactured during July-May (2020-21) as compared to the production of 11,065 LCVs… Continue reading Output of LCVs increase 63.21 percent in 11 months
Chilli farming under CPEC to expand over 5000 acres in Pakistan
ISLAMABAD, Jul 18 (APP): After a successful pilot project at 100 acres under China Pakistan Economic Corridor (CPEC), the next phase of Chilli farming will be ready for launch with upcoming sowing. Referring to an article published by China Economic Net, Chairman CPEC Authority Lt Gen (Retd) Asim Saleem Bajwa on Sunday in a tweet… Continue reading Chilli farming under CPEC to expand over 5000 acres in Pakistan
Kamyab Pakistan Program to be launched this month
ISLAMABAD, Jul 17 (APP): Minister for Finance and Revenue Shaukat Tarin on Saturday said that an extensive consultative process was followed in working out modalities of the Kamyab Pakistan Program ensuring that all relevant stakeholders are on board and it would be launched within current month. Kamyab Pakistan is a flagship program which shall extend… Continue reading Kamyab Pakistan Program to be launched this month
Entire 1000 km coastal line to be made clean, green: Asim Bajwa
ISLAMABAD, Jul 17 (APP): Chairman China Pakistan Economic Corridor (CPEC) Authority Lt Gen (Retd) Asim Saleem Bajwa on Saturday said that the entire coastal line of Pakistan over an area of 1000 kilometers would be made clean and green under the vision of Prime Minister Imran Khan. “Investment in Green Gwadar is just the beginning,… Continue reading Entire 1000 km coastal line to be made clean, green: Asim Bajwa
Khusro puts forward 4-point agenda for industrial cooperation among SCO states
ISLAMABAD, Jul 16 (APP):Federal Minister for Industries and Production, Makhdum Khusro Bakhtyar on Friday put forward a four-point agenda for industrial cooperation among SCO member countries, including launching of the study for finding industrial complementarities and synergies. He also proposed establishing an SCO Development Bank and SCO Development Fund for providing financial base for industrial… Continue reading Khusro puts forward 4-point agenda for industrial cooperation among SCO states
Asim Bajwa hails agreement for Samsung mobile phones manufacturing in Pakistan
ISLAMABAD, Jul 16 (APP):Chairman China Pakistan Economic Corridor (CPEC) Authority Lt. Gen. (retd) Asim Saleem Bajwa Friday said numerous Chinese mobile phone manufacturing companies would set up their plants in Pakistan that would boost the country’s exports besides generating more jobs. Hailing the agreement signed between Samsung with Lucky Group to produce Samsung Mobile Phones… Continue reading Asim Bajwa hails agreement for Samsung mobile phones manufacturing in Pakistan
ECC approves Kamyab Pakistan Program, other projects
ISLAMABAD, Jul 16 (APP): The Economic Coordination Committee (ECC) of the Cabinet here on Friday approved the flagship ‘Kamyab Pakistan Program’ besides approving several other projects. The ECC meeting was chaired by Federal Minister for Finance and Revenue, Shaukat Tarin, according to press statement by Finance Ministry here. The meeting was attended by Federal… Continue reading ECC approves Kamyab Pakistan Program, other projects
Prices of chicken, pulses, other food commodities go down
ISLAMABAD, Jul 16 (APP): Prices of various food items go down considerably during the week ending on July 15 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 bananas witnessed decrease of Rs7.15 percent whereas chicken… Continue reading Prices of chicken, pulses, other food commodities go down
Imam for improving research system to meet food security challenges
ISLAMABAD, Jul 16 (APP):Minister for National Food Security and Research Syed Fakhar Imam here on Monday said that up-gradation of research system and technological advancement were prerequisite for meeting the emerging challenges of food safety and security across the glob. Addressing the Pre-Summit United Nations Food Security System Meeting on Pakistan Food Security System and… Continue reading Imam for improving research system to meet food security challenges
PSX stays bullish for 4th consecutive day, gains 206 points to close at 47,834 points
ISLAMABAD, Jul 16 (APP): The KSE100-index of Pakistan Stock Exchange (PSX) continued with bullish trend on Friday, gaining 206.07 points, with a positive change of 0.43 percent, closing at 47,834.33 points against 47,628.26 points on the last working day. A total of 348,576,046 shares were traded during the day compared to the trade of 506,296,200… Continue reading PSX stays bullish for 4th consecutive day, gains 206 points to close at 47,834 points
Currency rates of NBP
KARACHI, Jul 16 (APP):Following are the selling/buying rates of major currencies issued by the National Bank of Pakistan (NBP), here on Friday. CURRENCY SELLING BUYING USD 161.40 157.71 GBP 223.32 218.18 EUR 190.62 186.57 JPY 1.4677 1.4341 SAR 43.08 42.00 AED 43.95 43,22
Foreign Currency Account Scheme
KARACHI, Jul 16 (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 16-07-21 For 3 months and over… Continue reading Foreign Currency Account Scheme
CCoE okays Power Division’s summary regarding validation of IPPs agreement process
ISLAMABAD, Jul 15 (APP):The Cabinet Committee on Energy approved on Thursday a summary submitted by the power division with respect to the process of Independent Power Producers (IPPs) agreements. The meeting of the CCOE was held under the Chairmanship of Federal Minister for Planning, Development and Special Initiatives Asad Umar. After detailed discussion, the Committee… Continue reading CCoE okays Power Division’s summary regarding validation of IPPs agreement process
Pakistan, Russia sign ‘technical cooperation’ agreement to lay Karachi-Lahore steam gas pipeline
ISLAMABAD, Jul 15 (APP):Pakistan and Russia on Thursday signed an agreement of technical cooperation to lay the 1100-kilometre steam gas pipeline from Karachi to Lahore at an estimated cost of $2.5 billion. The agreement was signed by Secretary Petroleum Division Dr Arshad Mahmood and Deputy Director of Russian Energy Ministry Alexander Tolparov, a news release… Continue reading Pakistan, Russia sign ‘technical cooperation’ agreement to lay Karachi-Lahore steam gas pipeline
Govt absorbs int’l price-hike, raises petrol price by Rs5.4 only
ISLAMABAD, Jul 15 (APP): Absorbing the increasing oil prices in the international market to provide relief to the masses, the government on Thursday raised petrol price by just Rs5.4 per liter with effective from July 16 for next fortnight. The Oil and Gas Regulatory Authority (OGRA) had recommended Rs11.50 increase in per liter petrol, however… Continue reading Govt absorbs int’l price-hike, raises petrol price by Rs5.4 only
PSX stays bullish for 3rd consecutive day, gains 136 points to close at 47,628 points
ISLAMABAD, Jul 15 (APP): The KSE-100-index of Pakistan Stock Exchange (PSX) continued with bullish trend on Thursday, gaining 136.79 points, with a positive change of 0.29 percent, closing at 47,628.26 points against 47,491.47 points on the last working day. A total of 506,296,200 shares were traded during the day compared to the trade of 508,283,755… Continue reading PSX stays bullish for 3rd consecutive day, gains 136 points to close at 47,628 points
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