Category: Business

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

ISLAMABAD, Dec 08 (APP):Ministry of Overseas Pakistanis and Human Resource Development (MoOPHRD) has formally assisted 71,000 skilled and semi-skilled workers to go to Qatar for various job assignments, especially in construction sector. Qatar had announced to hire 100,000 Pakistan’s workforce in 2015, a senior official in the ministry told APP. At present, as many as… Continue reading 71,000 skilled, semi skilled Pakistanis proceeded to Qatar for various job opportunities: Official

ISLAMABAD, Dec 08 (APP):The federal government has so far released Rs 297.643 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 Rs701 billion. Under its development programme, the government has released an amount of Rs135.113 billion for federal ministries, Rs100.56… Continue reading Gov’t releases Rs 297.64 bn for development projects

ISLAMABAD, Dec 07 (APP):Federal Board of Revenue is working in developing a ‘expeditious settlement’ of ‘non duty paid’ fast moving consumer goods available in the market. Details will be released next week, said Syed Shabbar Zaidi in a Tweet on Saturday. The purpose is to facilitate businessmen and improve documentation without disturbing business confidence.

KARACHI, Dec 07 (APP):Advisor to the Prime Minister on Commerce Abdul Razzak Dawood chaired a meeting to discuss the progress on issues relating to EXPO 2020 and way forward on Pakistan’s participation in EXPO 2020 at Trade Development Authority of Pakistan (TDAP) here. Abdul Razzak Dawood welcomed the participants and received updates on the progress… Continue reading Razak Dawood chairs meeting on Dubai Expo 2020

KARACHI, Dec 06 (APP):Moody’s Investors Service on Friday affirmed B3 long-term local currency deposit ratings of National Bank of Pakistan (NBP) and upgraded the outlook from negative to stable. The rating action follows Moody’s decision on December 2 to affirm B3 rating for the Government of Pakistan and changed the outlook on the sovereign rating… Continue reading Moody’s affirms B3 ratings to NBP, changes outlook to stable

RAWALPINDI, Dec 06 (APP):The 3rd Pakistan-United Kingdom (UK) Trade and Investment Conference, organized by the Rawalpindi Chamber of Commerce and Industry (RCCI) will begin in Birmingham on December 10. RCCI President Saboor Malik while providing details of the event here on Friday said arrangements of the conference have been finalized. He said the main target… Continue reading RCCI organizing Pak-UK Trade, Investment Conference on Dec 10, in Birmingham

ISLAMABAD, Dec 6 (APP):The Ministry of Planning Development and Reforms has so fare given the authorization to release Rs 5.762 billion for various agriculture sector development projects under its Public Sector Development Program (PSDP) for the financial year 2019-20 as against the total allocation of Rs 12.047 billion. Meanwhile, the authorities concerned had also given… Continue reading Govt releases Rs 5.762 billion for development projects of agriculture sector

ISLAMABAD, Dec 6 (APP):The Asian Development Bank (ADB) approved on Friday $1 billion in immediate budget support to Pakistan to shore up the country’s public finances and help strengthen a slowing economy besides approving $300 million to support energy sector reforms. The quick dispersing Special Policy-Based Loan is part of a comprehensive multidonor economic reform… Continue reading ADB approves $1.3 bn for Pakistan’s budget support, energy sector reforms

ISLAMABAD, Dec 5 (APP):The Foreign exchange reserve held by the State Bank of Pakistan increased by US $ 431 million to US$ 9,112.9 million during the week ending on November 29, 2019, State Bank of Pakistan (SBP) reported Thursday. The total liquid foreign reserves held by the country stood at US$15,993.2 million. According the break-up… Continue reading SBP reserves up by $ 431 mln

ISLAMABAD, Dec 5 (APP):Moody’s Investors Service (“Moody’s”) has affirmed the B3 long-term local currency deposit ratings of five Pakistani banks and changed the outlook to stable from negative. The banks banks include Allied Bank Limited (ABL), Habib Bank Limited HBL), Muslim Commercial Bank Limited (MCB), National Bank of Pakistan (NBP) and United Bank Limited (UBL).… Continue reading Moody’s changes outlook to stable on five Pakistani banks, affirms ratings

ISLAMABAD, Dec 5 (APP):Wheat exports during first four months of current financial year reduced by 88.10% as compared the wheat exports of the corresponding period of last year. About 48,081 metric tons of wheat valuing $11.442 million exported during the period from July-October, 2019 as against 456,689 metric tons worth $96.121 million of same period… Continue reading Wheat exports reduces 88.10% in four months,

KARACHI, Dec 05 (APP):State Bank of Pakistan (SBP) on Thursday injected Rs 308.8 billion into money market for eight days as reverse repo purchase through its open market operation. Six bids of Rs 334.8 billion were offered, of which 4 of Rs 308.8 billion were accepted. The rate of return accepted is 13.31 percent per… Continue reading SBP injects Rs 308.8 bn into market

ISLAMABAD, Dec 5 (APP):Adviser to the Prime Minister on Finance and Revenue Dr Abdul Hafeez Shaikh met a group of leading businessmen representing various export sectors contributing nearly US $ 2 billion exports, to discuss and review progress on the issues pertaining to payment of Sales Tax refunds to exporters. According to press statement issued… Continue reading Hafeez Shaikh reviews progress on Sales Tax refunds payment to exporters