Category: Business

ISLAMABAD, Apr 04 (APP):SAARC Chambers of Commerce and Industry (CCI) President-designate Iftikhar Ali Malik Saturday urged the leaderships of the developed countries to come forward helping the under developed South Asian countries as this region lacks sufficient resources to combat with coronavirus pandemic. Talking to a delegation of traders here today, Iftikhar Malik said, “our… Continue reading Wealthy countries should come forward to help South Asian countries combat Coronavirus: Malik

ISLAMABAD, Apr 04 (APP):Despite COVID-19 situation, Privatisation Commission (PC) team, under the leadership of Federal Minister and Chairman Muhammad Mian Soomro continue to keep foreign investors engaged in the privatisation plan of the government. ederal Minister Muhammad Mian Soomro along with the Advisor to PM on Energy, Nadeem Baber held a series of video conferences… Continue reading Despite COVID-19, privatisation commission continue engaging foreign investors

ISLAMABAD, Apr 04 (APP):The Islamabad Chamber of Commerce and Industry (ICCI) has welcomed the incentivized package for construction sector by Prime Minister Imran Khan in addition to giving it an industry status and resuming its activities from 14th April 2020 as it would boost business and economic activities in the country and reduce unemployment. Muhammad… Continue reading ICCI welcomes PM Incentive Package for real estate sector

FAISALABAD, Apr 03 (APP):Advisor to Prime Minister on Commerce Abdur Razzaq Dawood said that government has made a strategy to allow export related industry to start its operation in a phased-manner. He said due to the extension in current lockdown because of coronavirus pandemic, a strategy was being made to allow export related industry to… Continue reading Export related industry to start operation in phased manner: Razzaq Dawood

ISLAMABAD, Apr 03 (APP):Economic growth in Pakistan is expected to slow to 2.6 percent this year due to ongoing stabilization efforts, slower growth in agriculture and the impact of the COVID-19 outbreak, before recovering to 3.2 percent in 2021 according to the Asian Development Bank’s (ADB) latest annual flagship economic publication, Asian Development Outlook (ADO)… Continue reading Pakistan’s economic growth faces headwinds in 2020, recovery in 2021: ADB

ISLAMABAD, Apr 03 (APP):The World Bank launched first operations for Covid-19 health support and approved $200 million funding for Pakistan to cope with the challenges of Coronavirus. “$200 million will support Pakistan’s preparedness and emergency response in the health sector and include social protection and education measures to help the poor and vulnerable cope with… Continue reading WB launches first operations for Covid-19 health support, approves $200mln for Pakistan

ISLAMABAD, Apr 2 (APP):Water and Power Development Authority (WAPDA), in a meeting held here to review the status of progress on Daimer Basha Dam, Thursday said it intended to award the contract for the power project and allied structures within next few weeks in order to start the construction work in the current fiscal year… Continue reading Construction work on Diamer Basha Dam to be started in current FY: WAPDA

ISLAMABAD, Apr 02 (APP):Adviser to Prime Minister on Finance and Revenue, Dr Abdul Hafeez Shaikh said Thursday that the government was taking all possible measures to save the people from negative effects of Covid-9 and cope with its negative impact on country’s economy. Addressing the tax-refund cheque distribution ceremony here, the adviser said that the… Continue reading Saving people, economy from Covid-9 effects top priority govt priority: Hafeez Shaikh

ISLAMABAD, Apr 01 (APP):The World Bank Wednesday approved a $700 million additional financing to help Pakistan generate low-cost, renewable energy to provide affordable electricity supply to millions of users. The Additional Financing for Dasu Hydropower Stage I Project will finance the transmission line to complete the first phase of the Dasu hydropower plant that will… Continue reading WB approves additional financing of $700 mln for Dasu power project

ISLAMABAD, Apr 01 (APP):The Asian Development Bank (ADB) has returned to the US dollar bond market with the pricing of a 2-year global bond with principal amount of $4.5 billion, proceeds of which will be part of ADB’s ordinary capital resources. “ADB is delighted to be able to show its strength in the capital markets… Continue reading ADB sells $4.5 bn 2-Year global bonds in largest-ever single tranche outing

ISLAMABAD, Mar 31 (APP):The World Bank (WB) in its latest report urged the East Asia and the Pacific (EAP) countries to act now to mitigate the economic shocks of Covid-19, which now caused a global shock. According to East Asia and Pacific in the Time of COVID-19, the World Bank’s April 2020 Economic Update for… Continue reading EAP countries must act now to mitigate economic shock of COVID-19: WB report

ISLAMABAD, Mar 30 (APP):Minister for Planning, Development and Special Initiatives Asad Umar Monday chaired a meeting on coronavirus to review the situation of health and food in the federal capital. The meeting was attended by MNAs Ali Nawaz Awan and Raja Khurrum, commissioner and deputy commissioner Islamabad. It was informed in the meeting that as… Continue reading Asad Umar reviews health, food situation in federal capital

ISLAMABAD, Mar 30 (APP):The Asian Development Bank (ADB) Monday approved a further $2 million grant to support the government of Pakistan’s efforts to combat the coronavirus (COVID-19) pandemic in the country. The grant, financed from the Asia Pacific Disaster Response Fund, will help fund the immediate purchase of emergency medical supplies, personal protective equipment, diagnostic… Continue reading ADB approves $2 million grant for Pakistan’s fight against COVID-19

ISLAMABAD, Mar 30 (APP):The President Islamabad Chamber of Commerce and Industry (ICCI) Muhammad Ahmed Waheed on Monday called to bring down the interest rate for reviving business activities in current evolving situation after the spread of epidemic disease, COVID -19 in in the country. “We are already facing challenge of production cost and cost of… Continue reading President ICCI calls to bring down interest rate for facilitating businesses

ISLAMABAD, March 29 (APP):The Geological Survey of Pakistan (GSP) has demanded Rs 519.057 million to execute four projects under the Public Sector Development Programme (PSDP 2020-2021). “Out of these projects, three are related to mineral sector and one project is meant for fuel sector, for which Rs 512.533 million and Rs 6.524 million have been… Continue reading GSP demands Rs 519 mln to execute four projects in next PSDP

ISLAMABAD, Mar 27 (APP):The Cabinet Committee on Energy (CCOE) Friday asked the ministry concerned to take necessary steps to enhance the national storage capacity of petroleum products. Minister for Planning, Development and Special Initiatives Asad Umar chaired the meeting of CCOE here, which reviewed the progress of Central Power Purchasing Authority (CPPA) on the introduction… Continue reading CCOE for enhancing storage capacity for petroleum products

ISLAMABAD, Mar 26 (APP):The Economic Coordination Committee of the Cabinet (ECC) Thursday approved technical supplementary grant of Rs 5 billion for National Disaster Management Authority (NDMA) for fighting the spread of Coronavirus on emergency basis. The meeting of the ECC was held here with Advisor to Prime Minister on Finance and Revenue Dr Abdul Hafeez… Continue reading ECC approves Rs 5 bn for NDMA to fight Coronavirus

ISLAMABAD, March 26 (APP):People from different walks of life on Thursday lauded the government decision to reduce the petroleum prices by Rs 15 per liter, hoping that it would help bring down the transportation cost of essential items, especially edibles, for benefit of the common man. They said there was economic slowdown due to the… Continue reading Reduction in POL prices widely hailed

ISLAMABAD, Mar 25 (APP):Adviser to the Prime Minister on Finance and Revenue Dr Abdul Hafeez Shaikh on Wednesday said in view of the evolving situation due to the spread of coronavirus (COVID-19), the government had initiated negotiations with the International Monetary Fund (IMF) for an additional grant of $1.4 billion on fast-track basis. The government’s… Continue reading Govt engages IMF for $1.4 b additional grant: Hafeez Shaikh