ISLAMABAD, Aug 27 (APP): Special Assistant to the Prime Minister on Information and Broadcasting Lt Gen (retd) Asim Saleem Bajwa Thursday said the Chinese government and private sector had recently committed huge investment worth billions of dollars under China Pakistan Economic Corridor (CPEC) in Pakistan. Referring to a news item published in a section of… Continue reading China committing huge investment under CPEC: Asim Bajwa
Category: Business
Business news from Pakistan
Physical work on two private sector LNG terminals to commence in few months
ISLAMABAD, Aug 27 (APP): Two multinational companies are all set to start physical work on setting up their Liquefied Natural Gas (LNG) terminals during next few months after the government opened up the energy sector under its ease-of-doing-business strategy. “The government had allowed five private sector companies to establish their own LNG terminals, out of… Continue reading Physical work on two private sector LNG terminals to commence in few months
Pakistan’s earns US $1438 million from IT services’ export during FY 2019-20
ISLAMABAD, Aug 27 (APP): Pakistan earned US $ 1438.827 million by providing different information technology (IT) services in various countries during July-June (2019-20). This shows growth of 20.72 percent when compared to US $ 1191.864 million earned through provision of services during the corresponding period of fiscal year 2018-19, Pakistan Bureau of Statistics (PBS) reported.… Continue reading Pakistan’s earns US $1438 million from IT services’ export during FY 2019-20
Asad Umar directs for provision of telecom, broadband facilities in Southern Balochistan
ISLAMABAD, Aug 26 (APP): Minister for Planning, Development and Special Initiatives, Asad Umer on Wednesday directed the authorities concerned to work for provision of telecom, broadband facilities in Southern Balochistan. He was chairing a meeting to discuss various proposals for development of Southern Balochistan. He urged the officials to device a comprehensive plan within a… Continue reading Asad Umar directs for provision of telecom, broadband facilities in Southern Balochistan
Imam reaffirms Govt commitment to provide food commodities on affordable prices
ISLAMABAD, Aug 26 (APP): Minister for National Food Security and Research Syed Fakhar Iman on Wednesday reiterated the government’s resolve to ensure adequate supply of essential food commodities, particularly wheat and flour, on affordable prices to common man across the country. Addressing a press conference along with Minister for Information and Broadcasting Senator Shibli Faraz,… Continue reading Imam reaffirms Govt commitment to provide food commodities on affordable prices
WB to provide $ 450 mln for development of KP energy sector
PESHAWAR, Aug 26 (APP):World Bank (WB) agreed to provide financial assistance of $ 450 million for initiating two hydel power projects in Swat that would generate 254 megawatt electricity. It was said in a high level meeting attended by Senior Energy Specialist of World Bank, Muhammad Saqib, CM adviser on Energy, Himayat Ullah Khan, Secretary… Continue reading WB to provide $ 450 mln for development of KP energy sector
ADB issues $3 b 5-year global benchmark bond
ISLAMABAD, Aug 26 (APP):The Asian Development Bank (ADB) returned to the US dollar bond market with the pricing of a $3 billion 5-year global bond, proceeds of which will be part of ADB’s ordinary capital resources. “We looked at the post-summer issuance window and saw an opportunity to add a new 5-year to our global… Continue reading ADB issues $3 b 5-year global benchmark bond
Razak suppose to delays in exports consignments in months of August
ISLAMABAD, Aug 26 (APP): Adviser to the Prime Minister for Commerce and Investment on Wednesday expected that the country’s exports consignments are being delayed and it appear that because of the heavy rains, particularly in Karachi. Pakistan exports for the month of August may be affected; the advisor said this on his official tweets here… Continue reading Razak suppose to delays in exports consignments in months of August
Petroleum Division plans ‘physical work’ on PARCO coastal refinery before next summer
ISLAMABAD, Aug 26 (APP): The Petroleum Division is planning to start ‘physical work’ on the much-delayed Pakistan Arab Refinery Company (PARCO) Coastal Refinery before the next summer to achieve self-reliance in the oil production sector. “All formalities including the refinery’s design, licensing, engineering work, sizing and product-slab have been completed. Hopefully the physical work on… Continue reading Petroleum Division plans ‘physical work’ on PARCO coastal refinery before next summer
SBP defers Rs644 billion loan payments under refinancing scheme
ISLAMABAD, Aug 26 (APP): The State Bank of Pakistan (SBP) under its refinancing scheme for protecting businesses from the impact of coronavirus (COVID19), has so far deferred Rs644,083 principal repayments of loans up to one year. The central bank had launched the refinancing scheme in collaboration with Pakistan Banks Association for deferment of principal amount… Continue reading SBP defers Rs644 billion loan payments under refinancing scheme
Framework Agreement on CPEC-IC to help SEZs development: Chairman BOI
ISLAMABAD, Aug 25 (APP):The Minister of State and Chairman Board of Investment (BOI) Atif R. Bokhari on Tuesday said that signing of a mutually beneficial Framework Agreement on Industrial Cooperation (IC) under China Pakistan Economic Corridor (CPEC) would realize the vision of special economic zones’ (SEZs) development, ultimately leading to a prosperous and industrial country… Continue reading Framework Agreement on CPEC-IC to help SEZs development: Chairman BOI
NLCC completes anti-locust operation in 1,120,798 hectares,eliminating pest from KP, Punjab
ISLAMABAD, Aug 25 (APP): National Locust Control Centre (NLCC) had completed anti-locust operation over 1,120,798 hectares across 61 swarm affected areas during last 6 months and protected the agriculture land from the harmful impactsof the pest. The joint teams of the Ministry of National Food Security and Research, provincial agriculture departments and the Pakistan Army… Continue reading NLCC completes anti-locust operation in 1,120,798 hectares,eliminating pest from KP, Punjab
Auditor General of Pakistan to audit COVID related expenditures
ISLAMABAD, Aug 25 (APP): The Department of Auditor General of Pakistan has planned to audit all expenditures linked with novel Corona virus (COVID-19) in the country to ensure transparency in the concerned departments. For a timely input to the legislature and the executive, the DAGP has planned to produce several short and quick reports on… Continue reading Auditor General of Pakistan to audit COVID related expenditures
High Commissioner Sri Lanka lauds SAARC efforts for promoting regional trade
ISLAMABAD, Aug 25 (APP): High Commissioner of Sri Lanka to Pakistan, Vice Admiral Mohan Wijewickrama, Tuesday lauded the role of apex and allied bodies of South Asian Association for Regional Cooperation (SAARC), working together to defuse the political rifts among the member countries and keeping the prime motive of regional integration alive. He stated this… Continue reading High Commissioner Sri Lanka lauds SAARC efforts for promoting regional trade
Sports goods’ exports increase 6.44% to US $26.169 million in July
ISLAMABAD, Aug 24 (APP):The exports of sports goods witnessed an increase of 6.44 percent during the first month of the current fiscal year (2020-21) as against the exports of corresponding month of last year. The country exported sports goods worth US $ 26.169 million during July 2020 against the trade of US $ 24.585 million… Continue reading Sports goods’ exports increase 6.44% to US $26.169 million in July
Current account balance shows surplus of $424 million in July
ISLAMABAD, Aug 24 (APP): Pakistan’s current account balance swung into a surplus of $424 million in July 2020 after posting a deficit of $100 million in last month. The current account balance improved by 244% in July as compared to the current account deficit of $613 million in same month a year ago, according to… Continue reading Current account balance shows surplus of $424 million in July
Footwear exports decrease 2.53% during July 2020
ISLAMABAD, Aug 24 (APP):The footwear exports from the country witnessed decrease of 2.53 percent during the first month of current financial year (2020-21) compared to the corresponding period of last year. Pakistan exported footwear worth $12.617 million during July 2020 against the exports of $12.945 million during July 2019, showing negative growth of 2.53 percent,… Continue reading Footwear exports decrease 2.53% during July 2020
Petroleum division plans to auction 20 new E&P blocks next month
ISLAMABAD, Aug 24 (APP):The Petroleum Division (PD) has planned to auction 20 new Exploration & Production (E&P) blocks during next month aimed at stepping up oil and gas drilling activities in different hydrocarbon potential areas of the country. “As many as 40 new blocks have been identified, out of which 20 will be put up… Continue reading Petroleum division plans to auction 20 new E&P blocks next month
Pak manufacturing intel standard face shield for school children to protect from Coronavirus
ISLAMABAD, Aug 23 (APP):Pakistan is successfully manufacturing International standard, economical face shields for kids and school goers to protect them against deadly Coronavirus. The company “SPEL”, had designed the face shield, first in Pakistan, was awarded European Union “CE” certification for “Face Shields“ to manufacture and export. Zia Haider, the designer of the shield in… Continue reading Pak manufacturing intel standard face shield for school children to protect from Coronavirus
Expats to get ‘Roshan Digital Accounts’ next month
ISLAMABAD, Aug 23 (APP):Overseas Pakistanis will soon be able to open their bank accounts and make investments directly in the country from abroad as the government has announced to launch digital banking facility in the next month. The ‘Roshan Digital Accounts’ project would be rolled out in the first week of September as Prime Minister… Continue reading Expats to get ‘Roshan Digital Accounts’ next month
