Category: Business

ISLAMABAD, Jun 01 (APP):The federal government has so far authorized release of Rs 583 billion for various ongoing and new social sector uplift projects under its Public Sector Development Programme (PSDP) 2019-20, as against the total allocation of Rs701 billion. Under its development programme, the government has released an amount of Rs 244.2 billion for… Continue reading Gov’t releases Rs 583 bn for development projects

ISLAMABAD, Jun 01 (APP):Advisor to Prime Minister on Commerce and Investment, Abdul Razak Dawood on Monday said the government has prioritized the Doing Business (DB) reforms at national to provincial level for industrial growth and bring foreign investment Special Economic Zones (SEZs). The Government has established a project management unit at Board of Investment (BOI)… Continue reading Govt prioritizes ‘Doing Business’ reforms to bring FDIs in SEZs: Razak Dawood

ISLAMABAD, May 31 (APP):The World Bank has agreed to join hands with Pakistan to support Rs. US$ 188 million for disaster resilience and ecosystem restoration initiatives through more reliable and timely weather forecasting, improved disaster risk management services as well as help tackle growing environmental challenges. A focal person of ministry of climate change, Muhammad… Continue reading Pakistan, World Bank to sign US$ 188 mln disaster resilience, ecosystem restoration pact

ISLAMABAD, May 31 (APP):The Advisor to Prime Minister on Commerce and Investment, Abdul Razak Dawood has said the government was prioritizing development of Special Economic Zones (SEZs) for attracting Foreign Direct Investment (FDI) and transfer of technology into the country. “The SEZs are primarily focused on industrialization that result in export promotion, import substitution, transfer… Continue reading Govt focusing on attracting FDI, transfer of technology in SEZs: Razak Dawood

LAHORE, May 30 (APP)::Pakistan Readymade Garments Manufacturers & Exporters Association, in its budget proposals for 2020-21, submitted to the federal government, has called for restoration of zero-rated regime of ‘no payment and no refund of sales tax’ for export-oriented sectors including textile at least for one year to sustain the industry amidst crucial liquidity crunch… Continue reading PRGMEA calls for zero-rated regime restoration in Budget 2020-21

PESHAWAR, May 30 (APP):Sarhad Chamber of Commerce and Industry (SCCI) and Afghan diplomats agreed to make joint efforts to remove hurdles to bilateral Pak-Afghan trade and transit trade. The agreement came during a meeting between the SCCI, Pak-Afghan Joint Chambers of Commerce and Industry (PAJCCI) former senior vice president, and Frontier Custom Agents Association (FCAA)… Continue reading SCCI, Afghan diplomats agree for joint efforts to remove hurdles in Pak-Afghan trade

ISLAMABAD, May 29 (APP):Advisor to Prime Minister on Commerce and Investment, Abdul Razak Dawood on Friday said that the government would strive to improve Ease of Doing Business (EODB) ranking under 100 through comprehensive reforms strategy for providing conducive business environment to the Small and Medium Enterprises (SMEs) in the country. “We are expecting improvement… Continue reading Razak hopes for improving EODB ranking under 100

ISLAMABAD, May 29 (APP):The Advisor to Prime Minister on Commerce and Investment, Abdul Razak Dawood, chaired a meeting of the Ministry of Commerce (MOC)’s “Think Tank on COVID-19”. The Think Tank comprises Secretary Commerce ,Yousaf Naseem Khokhar, Additional Secretary (Trade Diplomacy), Director General (Textiles) and leading industrialists from various sectors, said a statement issued by… Continue reading MOC’s Think Tank on COVD-19 meets to explore strategies to mitigate the effects on export

ISLAMABAD, May 28 (APP):Prime Minister’s adviser on Commerce and Investment Abdul Razak Dawood has said that Pakistan had attained huge space in global rice market for exporting local rice in potential markets of Middle East, North America and African regions to achieve the target of increasing the agricultural exports. He said the government intended to… Continue reading Pakistan attains huge market for exporting local rice in global potential markets

ISLAMABAD, May 27 (APP):A delegation of Nishat Group Wednesday met Adviser to the Prime Minister on Finance and Revenue Dr Abdul Hafeez Shaikh to apprise him of the damages done by the COVID-19 related economic downturn to large scale manufacturers (LSM). Advisor to Prime Minister on Commerce Razak Dawood, Minister Industries Hammad Azhar, Dr Ishrat… Continue reading Hafeez Shaikh briefed on LSM liquidity issues

ISLAMABAD, May 27 (APP):The Advisor to Prime Minister on Commerce and Investment , Abdul Razak Dawood on Wednesday said the government was prioritizing development of Special Economic Zones (SEZs) for attracting Foreign Direct Investment (FDI) and transfer of technology into the country. “The SEZs are primarily focused on industrialization that result in export promotion, import… Continue reading Govt focusing on attracting FDI, transfer of technology in SEZs

ISLAMABAD, May 26 (APP):The PM-formed Think Tank in it’s neeting during Eid holidays deliberated upon digital account offering for overseas Pakistanis. The meeting of the Think Tank was chaired by the Adviser to the Prime Minister on Finance and Revenue Dr Abdul Hafeez Shaikh, according to press statement issued by Finance Ministry here. All other… Continue reading PM-formed body mulls digital account offering for overseas Pakistanis

ISLAMABAD, May 26 (APP):Advisor to Prime Minister on Commerce and Investment Abdul Razak Dawood has said that during first 10 months of current fiscal year (July-April), Pakistan witnessed net Foreign Direct Investment (FDI) of $ 2.281 billion as compared to US$ 1.006 billion in the corresponding period of FY2018-19 (Jul-April) showing an increase of 126.8… Continue reading FDI increases 126.8% to $2.281 billion in Jul-April 2020: Razak Dawood

ISLAMABAD, May 23 (APP):Minister of State and Chairman Board of Investment of Pakistan, Atif R. Bokhari Saturday said the government would take special measures to facilitate local and foreign investors to bring in more investment to Allama Iqbal Industrial City, a prioritized Special Economic Zone (SEZ) of Faisalabad Industrial Estate Development and Management Company (FIEDMC)… Continue reading Chairman BOI Atif Bukhari vows to extend all possible facilities to foreign investors

ISLAMABAD, May 21 (APP):The Economic Coordination Committee (ECC) of the Cabinet Thursday approved Mobile Device Manufacturing Policy to promote local manufacturing and assembly of mobile phone handsets. The policy approved in a meeting of the ECC chaired by Adviser to the Prime Minister on Finance and Revenue, Dr. Abdul Hafeez Shaikh, aimed at ensuring localisation… Continue reading ECC approves Mobile Device Manufacturing Policy

ISLAMABAD, May 21 (APP):Adviser to the Prime Minister on Finance and Revenue Dr. Abdul Hafeez Shaikh Thursday appreciated the support extended by the United States in Financial Action Task Force (FATF), COVID-19 and in getting debt relief from the G-20 countries. “We value our relationship with the US, particularly the business collaborations which have a… Continue reading Hafeez Shaikh lauds US support for FATF, COVID-19, G-20 debt relief

ISLAMABAD, May 21 (APP):The government has released funds amounting to Rs287.289 million during the first 11 months of the current fiscal year to execute seven petroleum projects under the Public Sector Development Programme (PSDP 2019-20) against the total allocation of Rs 304.997 million. According to the official data as May 16 that showed a slight… Continue reading Govt released Rs287.289 mln for petroleum projects in 11 months

ISLAMABAD, May 21 (APP):Chairperson Federal Board of Revenue Nausheen Javed Amjad Thursday said that budget proposals sent by Islamabad Chamber of Commerce and Industry (ICCI) would be given due consideration as they would be helpful in finalizing the Federal Budget 2020-21. She said this while talking to Muhammad Ahmed Waheed, President, Islamabad Chamber of Commerce… Continue reading Budget proposals sent by ICCI to be given due consideration:FBR

ISLAMABAD, May 20 (APP):Advisor to the Prime Minster on Commerce and Investment Abdul Razak Dawood Wednesday said trade and investment officers in Pakistan’s missions abroad will be given special tasks for marketing to bring maximum investment in Allama Iqbal Industrial City, a prioritized Special Economic Zone of Faisalabad Industrial Estate Development and Management Company (FIEDMC)… Continue reading Trade, Investment officers in embassies to be tasked to lure foreign investment in FIEDMC: Razak Dawood

ISLAMABAD, May 20 (APP):Adviser to the Prime Minister on Finance and Revenue Dr. Abdul Hafeez Shaikh stated unequivocally on Wednesday that Pakistan had no intention of seeking any kind of relief for repayment of its commercial loans or borrowings. “Pakistan has the means and will to honor its commercial commitments,” the advisor said while chairing… Continue reading Pakistan will not go for commercial loans’ refinancing, Shaikh tells ECC