Category: Business

ISLAMABAD, Dec 12 (APP):Country’s trade deficit witnessed significant reduction in first five months (July-November) of current financial year and fell by 33.04% as compared to the corresponding period of last year. During the period under review country’s exports registered about 4.97% growth, where as imports reduces by 18.41%, according the foreign trade statistics, released by… Continue reading Trade deficit shrinks 33.04% in five months of FY 2019-20

ISLAMABAD, Dec 11 (APP):Asian Development Bank (ADB) Director General for Central West Asia Department Werner E Liepach Wednesday called on Minister for Planning, Development and Reform Asad Umar and discussed matters related to ADB’s support for development projects. The minister said the process of approval of development projects and disbursement of funds to such projects… Continue reading Disbursement of funds to development projects has liberalised: Asad Umar told ADB DG

ISLAMABAD, Dec 11 (APP):Pakistan and Russian Federation on Wednesday agreed to strengthen bilateral ties in all areas of mutual interest including political, trade, economic, energy, education and people-to-people contacts. The agreement was made during a plenary session of 6th Pak-Russia Inter Governmental Commission on Trade, Economic, Scientific and Technical Cooperation here. Minister for Economic Affairs,… Continue reading Pak-Russia agree to strengthen bilateral trade ties

ISLAMABAD, Dec 11 (APP):The gold imports into the country decreased by 6.72 percent during the first four months of the current financial year (2019-20) as compared to the corresponding period of last year. Pakistan imported gold worth $5.647 million during July-October (2019-20) compared to the imports of $6.054 million during July-October (2018-19), showing negative growth… Continue reading Gold imports decreased by 6.72 percent in 4 months of current FY 2019-20

ISLAMABAD, Dec 11 (APP):Minister for Planning, Development and Special Initiative Asad Umar Wednesday said the present government is fully committed to achieving the Sustainable Development Goals (SDGs) and the development agenda is very close to the heart of Prime Minister Imran Khan. He was talking to United Nations Development Programme (UNDP) Resident Representative Ignacio Artaza,… Continue reading Gov’t committed to achieving SDGs: Asad Umar

LAHORE, Dec 11 (APP):Kyrgyzstan’s Ambassador to Pakistan Erik Beishemhiev said on Wednesday that Kyrgyzstan Republic could play a role of bridge for Pakistan to Central Asian markets as Pakistani traders could easily export their 6,000 items with several concessions. Talking to business community here at Lahore Chamber of Commerce and Industry (LCCI), he said CPEC… Continue reading Kyrgyzstan can play role of bridge between Pakistan, Central Asian markets: Envoy

ISLAMABAD, Dec 11 (APP):Education experts stressed on Wednesday the importance of China Pakistan Economic Corridor (CPEC) trainings and education, calling for the need to produce dynamic professionals and workers in commercial and engineering disciplines by developing strong processes, linked activities, safety procedures, skills, and communication methods. Delivering a lecture on ‘China-Pakistan Economic Corridor: Prospects of… Continue reading Importance of CPEC trainings, education stressed to produce skilled professionals, workers

ISLAMABAD, Dec 10 (APP):Advisor to Prime Minister on Commerce Abdul Razak Dawood Tuesday said the government’s resolve to work for achieving economic, social and cultural development in the South Asian region by combating common challenges of poverty, unemployment, terrorism, transnational crimes and climate change. “South Asia has huge potentials for transforming development landscape of our… Continue reading Dawood reaffirms govt’s resolve to promote regional trade

KARACHI, Dec 10 (APP):Overseas Pakistani workers remitted US$ 9,298.57 million in the first five months (July to November) of FY20, compared with US$ 9,281.94 million received during the same period in the preceding year. According to State Bank of Pakistan (SBP) press release issued here on Tuesday, during November 2019, the inflow of workers remittances… Continue reading Overseas Pakistani workers remit $9,298.57 million in five months

ISLAMABAD, Dec 10 (APP):The State Bank of Pakistan has received US $1.3 billion from Asian Development Bank (ADB) in connection with the policy based lending committed by ADB to support Pakistan’s budget and energy sector reforms, said a spokesman of SBP on Tuesday. With this inflow of foreign currency, the central bank’s foreign exchange reserves… Continue reading SBP receives $1.3 bn from ADB

ISLAMABAD, Dec 10 (APP):The investors of Russia are keen to explore business opportunities in Pakistan and for this purpose, want to further strengthen trade and investment cooperation with Pakistani counterparts. This was said by Stanislav L. KOROLEV, Head of Moscow Chamber of Commerce and Industry Commission for Pakistan while addressing business community at Islamabad Chamber… Continue reading Russia keen to explore business opportunities in Pakistan

ISLAMABAD, Dec 9 (APP):Minister for Economic Affairs, Muhammad Hammad Azhar on Monday witnessed the signing of two loans programme amounting to US $1.3 billion between the government of Pakistan and the Asian Development Bank (ADB) for economic reforms. The loan agreements were signed by Secretary, Economic Affairs Division, Dr Syed Pervaiz Abbas and Ms Xiaohong… Continue reading ADB provides $1.3 billion loan to Pakistan for economic reforms

ISLAMABAD, Dec 9 (APP):The Government of Japan and United Nations Development Programme (UNDP) signed a bilateral agreement worth $ 3.5 million to establish secure infrastructure for police to enhance their capacity in the newly merged Districts, erstwhile FATA. United Nations Development Programme (UNDP) and the Government of Japan have joined hands to provide support to… Continue reading Japan-UNDP signs accord $ 3.5 miln for police reform in erstwhile FATA

ISLAMABAD, Dec 9 (APP):The 35th SAARC Charter Day to be observed on December 10 (Tuesday) in the country to renew commitment to the cherished goals of the organization besides further accelerating the pace of regional economic cooperation. In order to commemorating the event , SAARC Chambers of Commerce and Industry (CCI) would organize an event.… Continue reading SAARC Charter Day to be observed on Tuesday

ISLAMABAD, Dec 9 (APP):Chief Minister Punjab Usman Buzdar had directed the authorities concerned for ensure development of infrastructure and provision of required facilities to industries in Allama Iqbal Industrial City, a prioritized project of Special Economic Zone under CPEC of Faisalabad Industrial Estate Development and Management Company (FIEDMC), on fast track basis. Presiding over a… Continue reading CM Punjab orders provision of facilities to FIEDMC on fast track

ISLAMABAD, Dec 8 (APP):The government is working on a multi-pronged strategy to construct gas storage facilities, which the country lacks for smooth supply of the commodity, especially during peak winter and summer seasons. Under the strategy, a feasibility study had already been started to set up the storage facilities after the experts predicted that the gas… Continue reading Strategy afoot to construct gas storage facilities, increase oil stock capacity

ISLAMABAD, Dec 08 (APP):The Ministry of Overseas Pakistanis and Human Resource Development, during first 10 months of the year 2019, has assisted over 258,215 Pakistanis to proceed Saudi Arabia for prospective job opportunities in various sectors. According to the data compiled by the Bureau of Emigration and Overseas Employment, the manpower export to Saudi Arabia… Continue reading Manpower export to Saudi Arabia rises by 207% this year

ISLAMABAD, Dec 08 (APP):The government has chalked out a comprehensive plan to initially develop, on Egyptian pattern, the ‘Tourism Cities’ in potential areas of Punjab and Khyber Pakhtunkhwa, to give the industry a new headway. “The plan after its materialization would have significant impact to attract foreign tourists and also add its share in Gross… Continue reading ‘To uplift industry, tourists’ destinations to be developed on Egyptian pattern’, says Zulfi Bukhari