Category: Business

ISLAMABAD, Dec 24 (APP):International Monetary Fund’s (IMF) Resident Representative for Pakistan, Ms. Teresa Daban Sanchez on Tuesday during the first review of Pakistan’s economic performance under the Extended Fund Facility (EFF) it was noted the overall macro-economic performance remained satisfactory. Revenue collections have increased substantially, with improvement in the trade deficit and net foreign assets,… Continue reading IMF notes positive economic performance of Pakistan in first quarter review

ISLAMABAD, Dec 24 (APP):Japanese Ambassador Kuninori Matsuda and Belarus Ambassador Andrei Ermolovich paid a courtesy call on Federal Minister for Economic Affairs Division Hammad Azhar here on Tuesday. Talking to the envoys, Hammad Azhar said there was a lot of potential in Pakistani market for both Minsk and Tokyo to invest, according to an EAD… Continue reading Japan, Belarus envoys pay courtesy call on Hammad

ISLAMABAD, Dec 23 (APP):Minister for Planning, Development and Special Initiative Asad Umar has said the government was considering to remove the Gas Infrastructure Development Cess (GIDC) for the future to bring down the fertilizer prices. Speaking in a meeting held here on Monday, Asad Umar said that direct subsidy to the farmers would be more… Continue reading Govt mulling over removing GIDC to bring down fertilizer prices: Asad Umar

ISLAMABAD, Dec 23 (APP):Economic Coordination Committee (ECC) of the Cabinet on Monday approved a technical supplementary grant, equal to Rs 4.05 billion funds, lapsed during the financial year 2018-19 under the Sustainable Development Goals Achievement Programme (SAP). The approval to the proposal, submitted by the Cabinet Division was granted by the ECC at its meeting… Continue reading ECC reallocates relapsed Rs 4.05 billion funds under SAP

ISLAMABAD, Dec 23 (APP):The cutlery exports from the country witnessed an increase of 10.48 percent during the first five months of current financial year (2019-20) as against the exports of corresponding period of last year (2018-19). Pakistan exported cutlery worth $40.003 million during July-November (2019-20) against the exports of $36.209 million during July-November (2018-19), showing… Continue reading Cutlery exports increase over 10% in five months

ISLAMABAD, Dec 22 (APP):The import of mobile phones into the country increased by 63.62 percent during the first five months of current financial year (2019-20) as compared to the corresponding period of last year. Pakistan imported mobile phones worth US $ 498.466 million during July-November (2019-20) as compared to the imports of US $ 304.651… Continue reading Mobile phone import increases over 63 % in 5 months

ISLAMABAD, Dec 21 (APP):The China Pakistan Economic and Business Council (CPEBC) in collaboration with Islamabad Chamber of Commerce and Industry organized the first World Digital Trade Summit in Islamabad, which was attended by Pakistani and Chinese businessmen. Senate Chairman Muhammad Sadiq Sanjrani was the chief guest, while Senator Mian Muhammad Atiq Sheikh was the co-host.… Continue reading ICCI organizes World Digital Trade Summit

ISLAMABAD, Dec 20 (APP):Food group exports from the country during first five months of current financial year increased by 16.20% as compared the exports of the corresponding period of last year. Food commodities worth $1.757 billion exported from July-November, 2019-20 as against the exports of $1.512 billion of same period of last year, according the… Continue reading Food exports increase by 16.20%, imports decline by 15.36% in five months

ISLAMABAD, Dec 20 (APP):Pakistan earned $166.940 million by providing different travel services in various countries during the first four months of the current financial year 2019-20. This shows growth of 22.69 percent as compared to $136.070 million same services were provided during the corresponding period of fiscal year 2018-19, Pakistan Bureau of Statistics (PBS) reported.… Continue reading Pakistan’s earns $166 million from travel services’ export in 4 months

ISLAMABAD, Dec 20 (APP):The government has released funds amounting to Rs 288.103 million during first six months of the of current fiscal year to execute petroleum projects under the Public Sector Development Programme (PSDP 2019-20) against the total allocation of Rs581.812 million. According to the official data, an amount of Rs 4.220 million has been… Continue reading Rs 288.103 mln released for six petroleum sector projects

ISLAMABAD, Dec 20 (APP):Footwear exports from the country during five months of current financial year grew by 22.72 percent as compared the exports of the corresponding period of last year. During the period from July-November 2019, Footwear worth $56,282 million was exported as compared to the exports of $45,863 million of same period of last… Continue reading Footwear exports increases 22.72 percent

ISLAMABAD, Dec 20 (APP):The exports of electric fan increased by 1.37 percent during the first five months of current financial year (2019-20) as compared to the export of corresponding period of last year. The electric fan exports during July-November (2019-20) were recorded at $8.701 million against the exports of $8.583 million during July-November (2018-19), showing… Continue reading Electric Fan exports up by 1.37% during first five months of current FY 2019

ISLAMABAD, Dec 20 (APP):The Executive Board of the International Monetary Fund (IMF) has completed the first review of Pakistan’s economic performance under the Extended Fund Facility (EFF) saying that Pakistan’s economic reform is quite on track. The completion of the review will allow the authorities to draw US$ 452.4 million, bringing total disbursements to $1.44… Continue reading Pakistan’s economic reform program on track: IMF

ISLAMABAD, Dec 19 (APP):Readymade garments exports from the country during first five months of current financial year increased by 13.19% as compared the exports of the corresponding period of last year. During the period from July-November, 2019-20, the country fetched $1.156 billion by exporting about 26,181 thousand dozen of readymade garments as compared the exports… Continue reading Readymade garments worth $1.156 billion exported in five months

ISLAMABAD, Dec 19 (APP):The Oil and Gas Development Company Limited (OGDCL) has injected 13 operated wells, which cumulatively yielded 373,515 Barrels (BBL) crude oil and 4,867 Million Cubic Feet (MMCF) gas, in its production gathering system during the last fiscal year. “The company contributed around 45 percent and 29 percent towards the country’s total oil… Continue reading OGDCL adds 373,515 BBL oil, 4,867 MMCF gas in production gathering system

ISLAMABAD, Dec 19 (APP):Leather Manufactures exports from the country during first five month of current financial year grew by 11.21% as compared the exports of the corresponding period of last year. During the period from July-November 2019, Leather Manufactures worth $227,428 million was exported as compared to the exports of $204,494 million of same period… Continue reading Leather Manufactures exports increases 11.21 %

ISLAMABAD, Dec 18 (APP):Adviser to the Prime Minister on Finance and Revenue Dr Abdul Hafeez Shaikh Wednesday chaired a meeting held here to discuss ways and means for enhancing foreign investment in Pakistani startup ecosystem. The meeting was attended among others by Tania Aidrus, Chief Digital Pakistan, Dr Reza Baqir Governor State Bank of Pakistan,… Continue reading Dr Hafeez Shaikh chairs meeting on Pak startup ecosystem

ISLAMABAD, Dec 18 (APP):Adviser to Prime Minister on Commerce, Industry and Investment Abdul Razak Dawood Wednesday hoped that shift of automobile manufacturing unit of ‘ Proton’ cars from Malaysia to Pakistan would give turnaround the local auto sector. Now the new upcoming market players would not only enhance the competitiveness in local automobile market but… Continue reading Shift of Malaysian car unit to turnaround local auto sector: Razaq Dawood

ISLAMABAD, Dec 18 (APP):Textile group exports from the country during first five months of current financial year increased by 4.68% as against the exports of the corresponding period of last year. During the period from July-November, 2019 textile products worth over $5.763 billion exported as compared to exports of $5.506 billion of same period of… Continue reading Textile exports grew by 4.68% in 5 months of FY 2019-20, reached to $5.763 bln