Category: Business

Business news from Pakistan

FBR amends time-frame for filing Annex-H by commercial exporters

ISLAMABAD, Nov 06 (APP): The Federal Board of Revenue (FBR) Friday amended the time-frame for filing of Annex-H by the commercial exporters to enable them find new markets and expand the country’s export base at a rapid pace. The amend was made vide notification SRO.1172(1)/2020 dated 04.11.2020, said a press statement issued by FBR here.… Continue reading FBR amends time-frame for filing Annex-H by commercial exporters

Pakistan’s new AREP to transform energy market’s outlook: Omar

ISLAMABAD, Nov 6 (APP): Minister for Energy Omar Ayub Khan on Friday said the government would transform outlook of the country’s energy market under new Alternative Renewable Energy Policy (AREP). He expressed these views during a meeting with Denmark Ambassador to Pakistan Ms. Lis Rosenholm, who called on him here. Special Assistant to the Prime… Continue reading Pakistan’s new AREP to transform energy market’s outlook: Omar

BOI to organize ‘CPEC Investment Conference’ on Nov, 25

ISLAMABAD, Nov 5 (APP):The Board of Investment (BOI), Pakistan is planning to organize ‘China Pakistan Economic Corridor (CPEC) Industrial Cooperation Business to Business (B2B) Investment Conference on November 25. The BOI, would organize a CPEC, Industrial Cooperation Business to Business (B2B) Investment Conference in Peshawar in collaboration with the KPBOIT, said in a press release… Continue reading BOI to organize ‘CPEC Investment Conference’ on Nov, 25

China remains top importer, trades products over $2763 mln to Pakistan

ISLAMABAD, Nov 5 (APP):China topped the list of countries from where Pakistan imported different products during the first quarter (Q1) of the current fiscal year (2020-21), followed by United Arab Emirates (UAE) and Singapore. The total imports from China during July-September (2020-21) were recorded at $2763.528 million against the $2292.749 million during July-September (2019-20), showing… Continue reading China remains top importer, trades products over $2763 mln to Pakistan

Services trade deficit contracts 50.91% in Q1, exports up 12.66% in September

ISLAMABAD, Nov 5 (APP):The country’s services trade deficit contracted by 50.91 percent during the first quarter (Q1) of the current financial year (2019-20) as compared to the corresponding period of last year. The services trade deficit during July-September (2020-21) was recorded at $538.87 million against the deficit of $1097.82 million in July-September (2019-20), according to… Continue reading Services trade deficit contracts 50.91% in Q1, exports up 12.66% in September

Nominee rules for National Savings certificates amended

ISLAMABAD, Nov 4 (APP):The government has amended the nominee rules for issuance of National Savings Schemes (NSS) certificates on the court orders to ensure payment of dues to ‘legal heirs’ in case of death of certificate holders as required under the Muslim Law of Inheritance. According to the Finance Ministry, the Sindh High Court (SHC),… Continue reading Nominee rules for National Savings certificates amended

Hafeez, Sindh CM discuss wheat support price

ISLAMABAD, Nov 4 (APP): Adviser to the Prime Minister on Finance Dr Abdul Hafeez Shaikh Wednesday held a virtual meeting with the Sindh Chief Minister Murad Ali Shah to discuss an optimum support price for the wheat crop during FY-2020-21. According to press statement issued here by the Finance Minister, Federal Minister for National Food… Continue reading Hafeez, Sindh CM discuss wheat support price

ECC forms committee to resolve circular debt issue

ISLAMABAD, Nov 4 (APP):The Economic Coordination Committee (ECC) of the cabinet Wednesday formed a committee to prepare a proposal on modalities for clearing the circular debt of the Petroleum Division. The committee was constituted during the ECC meeting chaired by Adviser to the Prime Minister on Finance Dr. Abdul Hafeez Shaikh here. The committee would… Continue reading ECC forms committee to resolve circular debt issue

Trade deficit shrinks 1.88 pc in four months, exports increase, imports decline

ISLAMABAD, Nov 4 (APP): The country’s trade deficit witnessed reduction of 1.88 percent during the first four months of current fiscal year (2020-21) as compared to the deficit of the corresponding period of last year. The deficit during July-October (2020-21) was recorded at $7.577 billion as compared to the deficit of $7.722 billion during July-October… Continue reading Trade deficit shrinks 1.88 pc in four months, exports increase, imports decline

ADB, Pakistan sign $2 million grant agreement to combat COVID-19

APP02-03 ISLAMABAD: November 03 – The signing ceremony of grant agreement from ADB-Apdrf for "COVID-19 Emergency Response" held at Ministry of Economic Affairs. The agreement was signed by Noor Ahmad, Secretary of Ministry of Economic Affairs, Ms. Xiaohong Yang, Country Director, ADB and Ms. Aida Grima, Country Director UNICEF. APP

ISLAMABAD, Nov 3 (APP):The Asian Development Bank (ADB) and the Government of Pakistan Tuesday signed a $2 million grant agreement to strengthen Pakistan’s efforts to combat the coronavirus disease (COVID-19) pandemic. Secretary of the Economic Affairs Division, Noor Ahmed and ADB Country Director for Pakistan, Xiaohong Yang signed the agreement. The grant financed from the… Continue reading ADB, Pakistan sign $2 million grant agreement to combat COVID-19

Razak hails telecom exports growth by 41% in FY- 2019-20.

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ISLAMABAD, Nov 3 (APP):Advisor to Prime Minister for Commerce and Investment, Abdul Razak Dawood on Tuesday said that telecommunication exports have grown by 41% to $ 444 million as compared to $315 million in the corresponding period during the last Fiscal Year (FY) 2019-20. The telecommunication and Information Technology (IT) Services have done very well… Continue reading Razak hails telecom exports growth by 41% in FY- 2019-20.

Govt. announces power relief package to enhance competitiveness: Hammad

ISLAMABAD, Nov 3 (APP):Federal Minister for Industries and Production, Hammad Azhar on Tuesday said that the incumbent government has announced the power relief package to enhance the competitiveness of the local industry. As per the direction of Prime Minister Imran Khan, the government has decided to decrease the cost of doing business through lowering the… Continue reading Govt. announces power relief package to enhance competitiveness: Hammad

Economy back on growth path, no debt rise in past 4 months: Hafeez

ISLAMABAD, Nov 3 (APP):Asserting that economy was steered back on growth path, Advisor to Prime Minister on Finance, Dr. Abdul Hafeez Shaikh said Tuesday that there was no increase in country’s debt during the past four months. “During the period from June 30 to November 1st, there was zero percent increase in the country’s debt,”… Continue reading Economy back on growth path, no debt rise in past 4 months: Hafeez

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Categorized as Business

PSX turns around, gains 1368 points to close at 40,480 points

ISLAMABAD, Nov 3 (APP): The Pakistan Stock Exchange (PSX) on Tuesday turned around and witnessed bullish trend as the KSE 100 index closed at 40,480 points against 39,112 points on the last working day, with positive change of 1368.70 points (3.5%). A total 383,953,226 shares were traded during the day compared to the trade of… Continue reading PSX turns around, gains 1368 points to close at 40,480 points

Economy back on growth path, no debt rise in past 4 months: Hafeez

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ISLAMABAD, Nov 3 (APP):Asserting that economy was steered back on growth path, Advisor to Prime Minister on Finance, Dr. Abdul Hafeez Shaikh said Tuesday that there was no increase in country’s debt during the past four months. “During the period from June 30 to November 1st, there was zero percent increase in the country’s debt,”… Continue reading Economy back on growth path, no debt rise in past 4 months: Hafeez

Tea imports surge 38.87 percent in Q1

ISLAMABAD, Nov 3 (APP): The tea imports into the country witnessed an increase of 38.87 percent during the first quarter (Q1) of the current fiscal year as compared to the same period of last year, Pakistan Bureau of Statistics (PBS) reported. The tea imports were recorded at $141.965 million during July-September (2020-21) as against imports… Continue reading Tea imports surge 38.87 percent in Q1

FBR gross revenues grew 5.8% to Rs1400 bln in 4 months

ISLAMABAD, Nov 02 (APP): The Federal Board of Revenue (FBR) collected gross revenues of Rs1400 billion during the first four months of the current fiscal year against the collection of Rs1323 billion during the same period of last year, showing growth of 77 billion or 5.8 percent. The net revenue collection also grew from Rs1288… Continue reading FBR gross revenues grew 5.8% to Rs1400 bln in 4 months

FBR collects Rs 1400 billion gross revenue in first quarter of FY 2020-21

ISLAMABAD, Nov 2 (APP): Federal Board of Revenue (FBR) has collected Rs 1337 billion net revenue in the current fiscal year from July to October whereas it was Rs 1288 billion in the previous year. Income tax collection for July to October stood at Rs. 470 billion, said a statement issued by FBR here on… Continue reading FBR collects Rs 1400 billion gross revenue in first quarter of FY 2020-21

Razak pleased over 22.6% growth in pharmaceutical exports in Q1

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ISLAMABAD, Nov 2 (APP):Advisor to Prime Minister on Commerce and Investment, Razak Dawood Monday expressed pleasure over the considerable growth in the pharmaceutical exports, which grew by 22.6 percent during the first quarter (Q1) to over $68.1 million compared to $55.6 million during the corresponding period of last year. “Alhamdulillah, I am glad to share… Continue reading Razak pleased over 22.6% growth in pharmaceutical exports in Q1

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