ISLAMABAD, Apr 16 (APP):Chinese digital company Timesaco has launched e- commerce platform ‘Dazaran’ for introducing the online retail business to provide facility to the people in current challenging situation of COVID-19 pandemic. Recently, Pakistan-based Chinese company Timesaco has decided to launch e- commerce Dazaran App in advance to support all merchants in Pakistan to open… Continue reading Timesaco launches e-Commerce retail platform during COVID-19
Category: Business
Business news from Pakistan
Body formed to finalize proposals for incentivising retail sector
ISLAMABAD, Apr 16 (APP):Advisor to the Prime Minister on Finance and Revenue Dr. Abdul Hafeez Shaikh on Thursday constituted a five-member committee for finalizing proposals for providing relief to retail sector in the wake of prevailing situation. The committee, which includes senior officials from Finance Division and Federal Board of Revenue (FBR) as its members,… Continue reading Body formed to finalize proposals for incentivising retail sector
IMF Executive Board approves immediate debt service relief for 25 eligible low-income countries
ISLAMABAD, Apr 16 (APP):The Executive Board has approved relief on debt service for 25 member countries that are eligible for support from the Catastrophe Containment and Relief Trust (CCRT). According to IMF press statement received here Thursday, a further 4 countries were expected to request such relief in the coming weeks. The approval enables the… Continue reading IMF Executive Board approves immediate debt service relief for 25 eligible low-income countries
IMF adds liquidity line to strengthen COVID-19 response
ISLAMABAD, Apr 16 (APP):The International Monetary Fund (IMF), Managing Director Ms. Kristalina Georgieva said that the fund’s Executive Board had approved the establishment of the Short-term Liquidity Line (SLL) to further strengthen the global financial safety net as part of the Fund’s COVID-19 response. The facility is a revolving and renewable backstop for member countries… Continue reading IMF adds liquidity line to strengthen COVID-19 response
CCOE directs power division to work for further reforms in sector
ISLAMABAD, Apr 15 (APP):The Cabinet Committee on Energy (CCOE) on Wednesday directed power division to submit a formal summary to the committee containing proposals for further reforms in the sector’s governance structure. The meeting was held here presided over by minister for Planning, Development and Special Initiatives Asad Umar. Secretary Power Division briefed the committee… Continue reading CCOE directs power division to work for further reforms in sector
Govt releases Rs 962.7 million for Revenue Division projects
ISLAMABAD, Apr 15 (APP):The Federal government has so far authorized release of Rs 962.725 million for various ongoing and new projects of Revenue Division under its Public Sector Development Programme (PSDP) 2019-20, as against its total allocation of Rs1728.238 million. Out of the total amount, Rs265.416 million have been authorized to be released for establishment… Continue reading Govt releases Rs 962.7 million for Revenue Division projects
PFC donates Rs 1 million to PM Special COVID-19 fund
ISLAMABAD, Apr 15 (APP):Pakistan Furniture Council (PFC) Chief Executive Mian Kashif Ashfaq Wednesday donated Rs. 1 million to Prime Minister Imran Khan’s special COVID-19 fund and pledged extending maximum cooperation to the government in its endeavours to eradicate coronavirus pandemic across the country. In a statement issued here today, Mian Kashif Ashfaq said furniture producers… Continue reading PFC donates Rs 1 million to PM Special COVID-19 fund
Razak emphasis for no element of duties, taxes in exports
ISLAMABAD, Apr 15 (APP):Adviser to the Prime Minister on Commerce and Investment, Abdul Razak Dawood Wednesday said the Ministry of Commerce was following the policy that there should be no element of duties and taxes in country’s exports. “We have a meeting with Federal Board of Revenue (FBR) for the implementation of this principle on… Continue reading Razak emphasis for no element of duties, taxes in exports
Hafeez hopeful of world plan to save developing countries from financial recession in wake of COVID-19
ISLAMABAD, Apr 14 (APP):Adviser to the Prime Minister on Finance and Revenue Dr Abdul Hafeez Shaikh Tuesday expressed the hope that financial and other forums of the world would be able to come up with a plan, enabling developing countries like Pakistan to meet their international obligations and provide relief to the population adversely effected… Continue reading Hafeez hopeful of world plan to save developing countries from financial recession in wake of COVID-19
Govt releases Rs 4,118.810 mln for power projects
ISLAMABAD, Apr 14 (APP):The government has released an amount of Rs 4,118.810 million for various power projects under annual Public Sector Development Programme (PSDP) for fiscal year 2019-20 so far. According to the data of Planning Commission, an amount of Rs 42,531.230 million was allocated for various power sector projects in the current fiscal year.… Continue reading Govt releases Rs 4,118.810 mln for power projects
IMF Executive Board approves immediate debt relief for 25 countries
ISLAMABAD, Apr 14 (APP):The Executive Board of International Monetary Fund (IMF’s) has approved immediate debt service relief to 25 of its member countries under the revamped Catastrophe Containment and Relief Trust (CCRT) as part of the Fund’s response to help address the impact of the COVID-19 pandemic. “This provides grants to our poorest and most… Continue reading IMF Executive Board approves immediate debt relief for 25 countries
Razak vows for inclusive economic solution in COVID-19
ISLAMABAD, Apr 13 (APP):Advisor to the Prime Minster on Commerce and Investment, Abdul Razak Dawood on Monday said the government was committed to bring out comprehensive solutions for sustaining the economic growth in the wake of global outbreak of COVID-19, coronavirus pandemic in the country. The commerce ministry was actively engaging with all relevant stakeholders… Continue reading Razak vows for inclusive economic solution in COVID-19
SECP relaxes licenses renewal requirement for insurance brokers, surveyors, ASOs
ISLAMABAD, Apr 13 (APP):Amid outbreak of COVID-19 in Pakistan, the Securities and Exchange Commission of Pakistan (SECP) realizing the difficulties face by insurance brokers, insurance surveyors, and authorized surveying officers (ASOs) in renewal of their licenses, has relaxed the requirements in renewal of licenses. A circular in this regard has been issued, said a press… Continue reading SECP relaxes licenses renewal requirement for insurance brokers, surveyors, ASOs
Pakistan’s exports can contract by 19.7% if COVID-19 lasts longer than expected: WB
ISLAMABAD, Apr 13 (APP):The World Bank has forecast that if the novel coronavirus (COVID-19) lasts longer than expected, Pakistan’s exports could plunge to negative growth of 19.7 percent in the current fiscal year (FY) 2019-20 as compared to the previous one. The negative impact of global lockdown due to coronavirus would persist longer and could… Continue reading Pakistan’s exports can contract by 19.7% if COVID-19 lasts longer than expected: WB
ECC approves 200,00 Mt wheat to USC from PASSCO
ISLAMABAD, Apr 13 (APP):The Economic Coordination Committee (ECC) of the cabinet Monday approved additional 200,000 metric tons of wheat for Utility Stores Corporation (USC) from Pakistan Agricultural Storage and Services Corporation (PASSCO) reserves. Adviser to the Prime Minister on Finance and Revenue Dr Abdul Hafeez Shaikh chaired the ECC meeting. According to the ECC decision,… Continue reading ECC approves 200,00 Mt wheat to USC from PASSCO
Construction Sector greets government’s decision for achieving status of Industry
ISLAMABAD, Apr 12 (APP):The construction sector on Sunday lauded the government’s decision to declare the sector as an industry as it had huge demand of up to 70 associated industries. Now the construction sector acquired the status of industry which would add the positive impact in country’s economic health and also enhance economic growth, Chairman… Continue reading Construction Sector greets government’s decision for achieving status of Industry
WB report predicts Pakistan’s GDP to contract by 1.3 in FY2020
ISLAMABAD, Apr 12 (APP):The World Bank (WB) in its report published on Sunday has projected the real GDP of Pakistan to contract by 1.3 percent in Financial Year 2020 as domestic and global economic activity slowed down sharply in the last four months of the fiscal year. The outbreak of COVID-19 would impact growth beyond… Continue reading WB report predicts Pakistan’s GDP to contract by 1.3 in FY2020
Construction of Sukkur-Hyderabad Motorway to start by end 2020: Chairman CPECA
ISLAMABAD, Apr 12 (APP):The construction work on the Sukkur-Hyderabad Motorway is likely to start by end of 2020, Chairman China Pakistan Economic Corridor (CPEC) Authority General (retd) Asim Saleem Bajwa said on Sunday. In a tweet, he said the construction of Sukkur-Hyderabad Motorway had already been approved and process of land acquisition was in progress.… Continue reading Construction of Sukkur-Hyderabad Motorway to start by end 2020: Chairman CPECA
SAARC Chamber calls for closer cooperation to defeat coronavirus in South Asia
ISLAMABAD, Apr 12 (APP):SAARC Chamber of Commerce and Industry (CCI) Sunday called for closer cooperation among national health emergency agencies to defeat the deadly Coronavirus and a long-term economic recovery plan for the region. In a statement issued here, President designate SAARC Chamber Iftikhar Ali Malik suggested that SAARC must adopt a shared telemedicine framework… Continue reading SAARC Chamber calls for closer cooperation to defeat coronavirus in South Asia
Bulls beat bears in week-long trade, index reaches to 32,033.21 points
ISLAMABAD, Apr 11 (APP):The bullish trend dominated the Pakistan Stock Exchange (PSX) throughout the week ending on Friday, April 10, as the KSE-100 index collectively witnessed increase of 411.42 points since the end of trading last Friday. The KSE-100 bench mark index touched the figure of 32,033.21points on Friday after going through some mixed trends… Continue reading Bulls beat bears in week-long trade, index reaches to 32,033.21 points