Turkmenistan natural partner of CPEC extension: Habibullah Dadabhoy

ISLAMABAD, Aug 28 (APP):Director Dadabhoy Group of Companies Habibullah Dadabhoy Wednesday underscored the importance for enhanced trade between Pakistan and Turkmenistan. “Turkmenistan is a natural partner for China Pakistan Economic Corridor’s extension,” Habibullah said at a conference organized by the Center for Peace, Security and Developmental Studies. More than 12 ambassadors from the Central Asian… Continue reading Turkmenistan natural partner of CPEC extension: Habibullah Dadabhoy

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NBP Exchange Rates

KARACHI, Aug 28 (APP):Treasury Management Division of National Bank of Pakistan (NBP) on Wednesday issued the following exchange rates. CURRENCY SYMBOL TT Selling TT Buying U.S DOLLAR USD 157.65 157.15 EURO EUR 174.80 174.23 JAPANESE YEN JPY 1.4894 1.4845 BRITISH POUND GBP 193.50 192.86 SWISS FRANC CHF 160.52 159.95 CANADIAN DOLLAR CAD 118.51 118.12 AUSTRALIAN… Continue reading NBP Exchange Rates

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Dutch company to invest $2.8 billion in Pakistan

ISLAMABAD, Aug 27 (APP):World fame Dutch oil company, Royal Vopak is going to invest $ 2.8 billion in Pakistan due to improved investment regime and conducive business environment being provided by the government. A delegation of Royal Vopak called on Adviser to Prime Minister on Commerce, Textile, Industries and Production, and Investment, Razak Dawood to… Continue reading Dutch company to invest $2.8 billion in Pakistan

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Total revenues increased to 4.9 trillion in FY19

ISLAMABAD, Aug 27 (APP):As many as Rs 4,900,724 million total revenues were collected by the government during the fiscal year 2018-19, including Rs 4,473,422 million tax revenues and Rs427,302 million non-tax revenues, according to official data. The tax revenues included Rs4,071,619 million federal revenues and Rs401,803 revenues collected by the provinces, whereas the non-tax revenues… Continue reading Total revenues increased to 4.9 trillion in FY19

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Govt releases Rs 50.4 bn for development projects

ISLAMABAD, Aug 27 (APP):The federal government has so far released Rs 50.4 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 program, the government has released an amount of Rs 13.19 billion for federal… Continue reading Govt releases Rs 50.4 bn for development projects

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Exports of textile articles increase 3.16pc in July: SBP

ISLAMABAD, Aug 27 (APP):The exports of textile articles from the country grew by 3.16 percent during the first month of current financial year 2019-20 as compared to the corresponding month of last year. During the month of July, 2019, the export of textile and its articles was recorded at $1233.636 million as against $1195.820 million… Continue reading Exports of textile articles increase 3.16pc in July: SBP

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Cabinet body decides to commence financing discussion over ML-1project with China

ISLAMABAD, Aug 26 (APP):The Cabinet Committee on China-Pakistan Economic Corridor (CPEC) Monday decided to commence financing discussion over ML-1 project with China to finalize its mode and PC-1. Federal Minister for Planning, Development and Reform Makhdoom Khusro Bakhtiar, while chairing the committee meeting, said it was a very important project under the CPEC portfolio and… Continue reading Cabinet body decides to commence financing discussion over ML-1project with China

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Food imports dip 19pc in July: SBP

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ISLAMABAD, Aug 26 (APP):The food group imports into the country during first month of the current financial year (2019-20) dipped by 19.20 percent as compared the corresponding month of last year. During the month of July, 2019, the food commodities worth $361.091 million were imported as against $446.943 million imports recorded during the same month… Continue reading Food imports dip 19pc in July: SBP

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OGDCL carries out 707 Line-KMs 2D, 620 Sq.KMs 3D surveys

ISLAMABAD, Aug 26 (APP):Oil and Gas Development Company Limited (OGDCL) has carried out 707 Line-KMs 2D and 620 Sq.KMs 3D seismic surveys in its operational areas during first nine months of the last fiscal year. “The acquired 2D and 3D seismic data represents 55 percent and 47 percent of total seismic data acquired in the… Continue reading OGDCL carries out 707 Line-KMs 2D, 620 Sq.KMs 3D surveys

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NBP Exchange Rates

KARACHI, Aug 26 (APP):Treasury Management Division of National Bank of Pakistan (NBP) on Monday issued the following exchange rates. CURRENCY SYMBOL TT Selling TT Buying U.S DOLLAR USD 157.85 157.35 EURO EUR 175.92 175.32 JAPANESE YEN JPY 1.4972 1.4923 BRITISH POUND GBP 193.76 193.12 SWISS FRANC CHF 161.76 161.19 CANADIAN DOLLAR CAD 118.76 118.35 AUSTRALIAN… Continue reading NBP Exchange Rates

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Chinese Investment Company vows to promote digital culture among local youth

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ISLAMABAD, Aug 25 (APP):A Chinese investment company is about to launch multiple IT-based projects in Pakistan with an aim to promote digital culture among the youth of the country by introducing best international practices. “We want to train the local youth and also start the capacity building programme for them to equip them with advanced… Continue reading Chinese Investment Company vows to promote digital culture among local youth

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Further $100 miln EU investments to come in petroleum sector

ISLAMABAD, Aug 25 (APP):Spokesman of Prime Minister for Trade and Investment for United Kingdom (UK) and Europe Sahibzada Amir Jahangir on Sunday said that around $ 100 million new investment were expected to come in petroleum sector. Petro chemical, Oil storage and Oil infrastructure would the major fields, where the big energy sector companies are… Continue reading Further $100 miln EU investments to come in petroleum sector

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Timely policies help expand income tax-return filing bases by 43 percent

Shams Abbasi ISLAMABAD, Aug 25 (APP):Owing to prudent, timely and swift tax reform policies of the incumbent government, the income return filing base has widened by around 43 percent to the record level of 2.5 million filers, as 0.750 million news return tax-filers have registered themselves in the tax system till the last date, as… Continue reading Timely policies help expand income tax-return filing bases by 43 percent

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SECP registered 1,525 companies, witnessing 41% growth

ISLAMABAD, Aug 24 (APP):The Securities and Exchange Commission of Pakistan (SECP) had registered 1,525 new companies in month of July, 2019. As compared to the corresponding month of last financial year, it represents a growth of 41 percent raising the number of total registered companies to 1,02, 864. The massive increase is the result of… Continue reading SECP registered 1,525 companies, witnessing 41% growth

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Pakistan’s capacity of export to be augmented under CPEC 2nd phase: Envoy

APP34-23 ISLAMABAD: August 23 – Chinese Ambassador, Mr. Yao Jing called on Federal Minister for Economic Affairs, Mr. Muhammad Hammad Azhar on Friday. APP

ISLAMABAD, Aug 23 (APP):Chinese Ambassador in Pakistan Yao Jing on Friday said that under second phase of China Pakistan Economic Corridor (CPEC), promotion of business to business relationship for technological and industrial development in order to augment Pakistan’s capacity to export was a priority area for the Chinese government. He was speaking to Federal Minister… Continue reading Pakistan’s capacity of export to be augmented under CPEC 2nd phase: Envoy

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Transport import increase 19pc in July: SBP

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ISLAMABAD, Aug 23 (APP):The transport group imports into the country during first month of financial year 2019-20 grew by 19.26 percent as compared the corresponding month of last year. During the month of July, 2019, the transport product of worth $195.635 million were imported as against $164.029 million of same month of last year, according… Continue reading Transport import increase 19pc in July: SBP

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NBP Exchange Rates

KARACHI, Aug 23 (APP):Treasury Management Division of National Bank of Pakistan (NBP) on Friday issued the following exchange rates. CURRENCY SYMBOL TT Selling TT Buying U.S DOLLAR USD 158.20 157.70 EURO EUR 175.12 174.55 JAPANESE YEN JPY 1.4846 1.4798 BRITISH POUND GBP 193.55 192.93 SWISS FRANC CHF 160.58 160.09 CANADIAN DOLLAR CAD 118.78 118.36 AUSTRALIAN… Continue reading NBP Exchange Rates

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Worldwide 5G network infrastructure revenue to reach US$ 4.2 billion in 2020

ISLAMABAD, Aug 22 (APP):The worldwide 5G wireless network infrastructure revenue will reach US$ 4.2 billion in 2020, an 89 per cent increase from 2019 revenue of US$ 2.2 billion, said United State based research and advisory firm Gartner in a new report. Additionally, Gartner forecasts in the report titled “Forecast: Communications Service Provider Operational Technology,… Continue reading Worldwide 5G network infrastructure revenue to reach US$ 4.2 billion in 2020

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SBP injects Rs 426.8 bn into market

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KARACHI, Aug 22 (APP):State Bank of Pakistan (SBP) on Thursday injected Rs 426.8 billion into money market for one day as reverse repo purchase through its open market operation. Ten bids of Rs 360 billion were offered, of which nine of Rs 426.8 billion were accepted. The rate of return accepted is 13.39 percent per… Continue reading SBP injects Rs 426.8 bn into market

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