Category: Business

ISLAMABAD, Jan 17 (APP):Adviser to Prime Minister on Industries and Production, Commerce, Textile and Investment Abdul Razzak Dawood urged that “Made in Pakistan” will be supported in each policy including Electric Vehicle (EV) Manufacturing,which is only way forward. The imports will be discouraged and provision of job to youth will be targeted while aiming to… Continue reading Razak urges Electric Vehicles (EC) to be made in Pakistan

ISLAMABAD, Jan 16 (APP):Special Assistant to the Prime Minister on Youth Affairs Muhammad Usman Dar on Thursday said the National Youth Development Foundation (NYDF) was being created to equip the young people with modern technological skills. The prime objective of NYDF was to empower youth by harnessing modern technologies, Usman Dar said while addressing the… Continue reading NYDF in offing to empower youth: Usman Dar

ISLAMABAD, Jan 16 (APP):Chinese ambassador to Pakistan Yao Jing has said that China and Pakistan had constituted a joint committee to explore financing modalities and find appropriate financial package for the mega Main Line (ML-1) railway project. Addressing media persons here on Wednesday night, the envoy said that due to huge financial implication, the project… Continue reading Joint committee formed to explore financial package for ML-1: Yao Jing

ISLAMABAD, Jan 16 (APP):With its US$4025.177 million imports to Pakistan, China remained the top importer of the country during the first five months of current financial year (2019-20), followed by United Arab Emirates (UAE) and Singapore. During the month of November, 2019, the total imports from China witnessed negative growth of 5.49 percent during the… Continue reading China remains top importer, traded products over $4.025 bln

ISLAMABAD, Jan 16 (APP):The Petroleum Division has said that the Turkmenistan-Afghanistan-Pakistan-India (TAPI) gas pipeline project was progressing as per the “timelines” agreed among the member countries and “there is no delay in the project.” “The planned flow of non-compressed gas from the TAPI gas pipeline project is December 2023,” according to an official document available… Continue reading No delay in TAPI gas pipeline, project advancing as per ‘timelines’

ISLAMABAD, Jan 16 (APP):Pakistan earned $406.810 million by providing different information technology (IT) services in various countries during the first four months of current financial year 2019-20. This shows growth of 14.92 percent when compared to $353.980 million earned through provision of services during the corresponding period of fiscal year 2018-19, Pakistan Bureau of Statistics… Continue reading Export of IT services earns over $406 mln

ISLAMABAD, Jan 16 (APP):Wheat sowing in the country during current Rabi season (2019-20) has witnessed about 1.014% increase as compared to the sowing season of the corresponding period of last season (2018-19). Wheat which is major cash crop and a vital source of staple food had been cultivated over 8.839 million hectares of land during… Continue reading Wheat sowing witnesses 1.014% growth, as crop cultivated over 8.079 mln hectares

ISLAMABAD, Jan 15 (APP):Chinese Ambassador to Pakistan Yao Jing Wednesday said China was keen to import meat, potato, onion, mango and cherry from Pakistan. He called on Federal Minister for National Food Security and Research Makhdoom Khusro Bakhtiar and expressed his confidence on him as former Minister for Planning and Development, viz a viz his… Continue reading China keen to import edibles from Pakistan: Ambassador

ISLAMABAD, Jan 15 (APP):The Ministry of Finance Wednesday said that the government inherited an economy in a major balance of payment crisis which led to high inflation and low growth but immediate actions by the government helped stabilize the economy and reduce the unsustainable fiscal and trade deficits, leading to restoration of business confidence. In… Continue reading Quick actions reduced twin deficits, restored business confidence: Finance Division

ISLAMABAD, Jan 14 (APP):Advisor to the Prime Minister on Commerce, Textile, Industry and Production and Investment Abdul Razaq Dawood on Monday said that implementation of e-Commerce policy was main focus of the government to promote the digital economy for providing the connectivity with global chain. In past regimes, there was gape in implementation of e-commerce… Continue reading Razak vows for implementation of e-Commerce policy

ISLAMABAD, Jan 14 (APP):Adviser to Prime Minister on Finance and Revenue Dr Abdul Hafeez Shaikh Tuesday said the government was taking steps to tackle inflation and enhance domestic productivity through greater spending on social safety net, improving cash transfer programme, ensuring greater ease of doing business and providing subsidized loans, electricity and gas to the… Continue reading Govt taking steps to tackle inflation, enhance domestic productivity: Dr Hafeez Shaikh

ISLAMABAD, Jan 14 (APP):With its US $ 4025.177 million imports to Pakistan, China remained the top importer of the country during the first five months of current financial year (2019-20), followed by United Arab Emirates (UAE) and Singapore. During the month of November, 2019, the total imports from China witnessed negative growth of 5.49 percent… Continue reading China remains top importer, traded products over $4.025 bln

ISLAMABAD, Jan 14 (APP):Fitch rating agency has forecast that Pakistan’s general government debt (including guarantees and International Monetary Fund borrowing) will fall to about 80 percent by end of next fiscal year due to faster nominal GDP growth and fiscal consolidation. “The government has taken steps to manage domestic debt rollover risks following the cessation… Continue reading Pakistan’s general government debt ratio to fall to 80% next year: Fitch

KARACHI, Jan 13 (APP):Federal Minister for Planning and Development Asad Umar Monday said Prime Minister Imran Khan would launch a series of development projects in Karachi soon. Talking to reporters following his visit to Muttahida Qaumi Movement-Pakistan (MQM-P) head office, he informed that the projects to be launched in Karachi were those which were funded… Continue reading PM to launch series of development projects in Karachi soon

ISLAMABAD, Jan 13 (APP):Oil and Gas Development Company Limited (OGDCL) has acquired 556 Line Kilometers (LKMs) seismic data during first quarter of the current fiscal year. “Besides, around 689 Line km of 2D seismic data was also processed/reprocessed using in-house resources. The company’s seismic data acquisition is 85 percent of total 2D seismic data acquired… Continue reading OGDCL acquires 556 LKMs 2D seismic data in first quarter

ISLAMABAD, Jan 12 (APP):The federal government has so far authorized release of Rs 301.45 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 Rs 701 billion. Under its development programme, the government has released an amount of Rs 135.21 billion… Continue reading Gov’t releases Rs 301.45b for development projects

KARACHI, Jan 11 (APP):Advisor to Prime Minister for Textile and Industry Abdul Razak Dawood has said that things are now moving towards right direction and now Pakistan is looking forward to promote exports rather than domestic trade. This he said while addressing the members of Karachi Chamber of Commerce and Industry (KCCI) as chief guest… Continue reading Pakistan looking forward to promote exports: Razak

ISLAMABAD, Jan 10 (APP):Minister for Planning, Development and Special Initiatives Asad Umar Friday said that the pace of projects under China Pakistan Economic Corridor (CPEC) would be accelerated in weeks and months to come. He was talking to Ambassador of China to Pakistan Yao Jing here on Friday. Matters relating to CPEC and economic cooperation… Continue reading Works on CPEC projects to be accelerated in 2020: Asad Umar