Category: Business

ISLAMABAD, Mar 25 (APP):The Islamabad Chamber of Commerce and Industry (ICCI) has hailed the decision of the government to reduce the prices of petroleum products by Rs15 per litre as it would provide good relief to the inflation-stricken people. They also urged the government to further cut the interest rate to bring it down in… Continue reading Business community hails PM relief package, reduction in interest rates

ISLAMABAD, Mar 25 (APP):Federal Minister for Planning, Development and Special Initiatives Asad Umar has said that the government had announced to procure a record wheat worth of Rs 280 billion. “The government is going to have the biggest wheat procurement this year which will inject Rs 280 billion in the market,” he said while talking… Continue reading Gov’t to procure record wheat worth Rs 280 bn: Asad Umar

ISLAMABAD, Mar 25 (APP):The novel Coronavirus (COVID-19) pandemic and deepening global economic uncertainty are weighing heavily on local currency bond markets of emerging East Asian economies, according to the latest issue of the Asian Development Bank’s (ADB) Asia Bond Monitor. “Financial markets in the region are already feeling the brunt of the effects of the… Continue reading COVID-19, dimmed global outlook weigh heavily on emerging East Asian Bonds

ISLAMABAD, Mar 24 (APP):Federal Minister for Economic Affairs Division, Muhammad Hammad Azhar on Tuesday said the government has announced Rs. 1200 billion economic relief and stimulus package. It seeks to provide relief to vulnerable ,support to poor, Small and Medium Entrepreneurs (SMEs), he said this on social media account of twitters here on Tuesday. Hammad… Continue reading Govt announces Rs.1200 billion economic relief package

ISLAMABAD, Mar 24 (APP):The Finance Ministry Tuesday announced the details of the multi-sectoral relief package approved by Prime Minister Imran Khan in a major effort to address the crisis resultant of Covid-19. The package is aimed at providing quick relief to all those who have been affected by the pandemic, the Finance Ministry said in… Continue reading Finance Ministry announces details of multi-sectoral relief package

ISLAMABAD, Mar 24 (APP):Islamabad Chamber of Commerce and Industry (ICCI) has urged the government to reduce policy interest rate to 5 percent in order to save businesses from the negative impact of coronavirus. In a statement, President ICCI, Muhammad Ahmed Waheed said that due to spread of coronavirus, all shopping malls and business centers are… Continue reading ICCI for reducing policy interest rate to 5%

ISLAMABAD, Mar 24 (APP):Leather goods exports during first eight months of current financial year grew by 11.17% as compared to the exports of the corresponding period of last year. During the period from July-February (2019-20), leather goods worth $361,921 million were exported as compared to the exports of $325,543 million of same period of last… Continue reading Leather goods exports increase by11.17%

KARACHI, Mar 23 (APP):The State Bank of Pakistan held a meeting with banks on Monday, through video link, to assess their readiness to ensure uninterrupted supply of banking services to clients in the wake of lockdowns and closure of cities by Federal and Provincial Governments due to COVID-19 pandemic. The meeting was chaired by the… Continue reading SBP takes measures to ensure continuous availability of banking services amid COVID-19 situation

ISLAMABAD, Mar 23 (APP):South Asian Association of Regional Countries (SAARC) Chamber of Commerce and Industry (SCCI) President-designate Iftikhar Ali Malik has proposed setting up a novel corona virus (COVID-19) emergency fund with India, Pakistan, Sri Lanka and Bangladesh with initial amount of US $5 million each to deal with the pandemic. In a statement issued… Continue reading SCCI proposes joint coronavirus fund for SAARC countries

ISLAMABAD, Mar 20 (APP):Rice exports from the country during last eight months of current financial year increased by 11.09% as compared the exports of the corresponding period of last year. During the period from July-February, 2019-20 about 2,763,171 metric tons of rice worth $1.397 billion exported as against the exports of 2,497,536 metric tons valuing… Continue reading Rice exports increases 11.09%, reaches $1.257 billion in 8 months

ISLAMABAD, Mar 19 (APP):The Japanese government has initiated process of importing skilled manpower from Pakistan in 14 different sectors aimed to providing employment opportunities for Pakistanis labor force, Minister and Deputy Head of Mission, Embassy of Japan in Pakistan Yusuke Shindo told APP. Sharing strategy and action plan with APP here Thursday, he said that… Continue reading Japan initiates for importing skilled manpower from Pakistan

ISLAMABAD, Mar 19 (APP):The export of pharmaceutical goods from the country witness an increase of 7.21 percent during the first eight months of current financial year (2019-20) as compared to the export of corresponding period of last year. The pharmaceutical exports were recorded at US $149.540 million during July-February (2019-20) as against the export of… Continue reading Pharmaceutical goods’ export increase 7.21% in 8 months

ISLAMABAD, Mar 19 (APP):A grand ceremony of handing over of presidency of SAARC Chamber of Commerce and Industry (CCI) to Pakistan from Sri Lanka, which was earlier scheduled to be held in the last week of March in Islamabad has been postponed sine die due to pandemic of coronavirus. The upcoming President of SAARC CCI… Continue reading SAARC CCI ceremony of handing over presidency to Pakistan postponed

ISLAMABAD, Mar 18 (APP):The Economic Coordination Committee (ECC) of the Cabinet Wednesday approved a Technical Supplementary Grant of Rs 4152 million for Federal Board of Revenue’s (FBR) Pakistan Raises Revenue (PRP) Program. The grand will help meet the PRP’s mandatory and inevitable expenditures for the achievement of Disbursement Linked Indicators (DLIs) and supplement budgetary resources… Continue reading ECC approves Rs 4196 grants for FBR, ICT

ISLAMABAD, Mar 18 (APP):The World Bank (WB) and International Finance Corporation’s (IFC’s) Boards of Directors approved an increased $14 billion package of fast-track financing to assist companies and countries in their efforts to prevent, detect and respond to the rapid spread of COVID-19. The package will strengthen national systems for public health preparedness, including for… Continue reading WB increases COVID-19 response to $14 bln to help sustain economies

ISLAMABAD, Mar 18 (APP):The Asian Development Bank (ADB) Wednesday announced a $6.5 billion initial package to address the immediate needs of its developing member countries (DMCs) as they respond to the novel coronavirus (COVID-19) pandemic. “This pandemic has become a major global crisis. It requires forceful action at national, regional, and global levels,” said ADB… Continue reading ADB announces $6.5 bln initial response to COVID-19 Pandemic

ISLAMABAD, Mar 18 (APP):The exports from the country, in rupee term, surged by 22.68 percent during the first eight months of the current fiscal year compared to the corresponding period of last year, Pakistan Bureau of Statistics (PBS) reported. The exports from the country during July-January (2019-20) were recorded at Rs. 2,439,949 million against the… Continue reading Exports increase 22.68 pc to Rs. 2,439 bln in eight months