Category: Business

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

ISLAMABAD, Aug 26 (APP):The consumption of Liquefied Petroleum Gas (LPG) stood at around 40,921 Metric Ton (MT) during a 14-month period from April 2018 to May 2019 across the country. Domestic, commercial and industrial consumers used 3,174 MT LPG in April, 3,077 MT in May, 2,661 MT in June, 2,680 MT in July, 2,684 MT… Continue reading 40,921 MT LPG consumed in 14 months

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

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

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

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

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

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

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

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

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

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

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

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

ISLAMABAD, Aug 22 (APP):Food group exports from the country during first month of financial year 2019-20 grew by 11.45% as compared the corresponding period of last year. During the month of July, 2019, the food commodities worth US$408.404 million exported as against US$366.427 million of same month of last year, according the latest data issued… Continue reading Food group exports grew by 11.45% in first month of FY 2019-20: SBP

KARACHI, Aug 22 (APP):Treasury Management Division of National Bank of Pakistan (NBP) on Thursday issued the following exchange rates. CURRENCY SYMBOL TT Selling TT Buying U.S DOLLAR USD 158.85 158.35 EURO EUR 176.20 175.59 JAPANESE YEN JPY 1.4923 1.4875 BRITISH POUND GBP 192.73 192.10 SWISS FRANC CHF 161.71 161.14 CANADIAN DOLLAR CAD 119.38 119.00 AUSTRALIAN… Continue reading NBP Exchange Rates

ISLAMABAD, Aug 21 (APP):The Federal Board of Revenue (FBR) and US Agency for International Development (USAID) through its Pakistan Regional Economic Integration Activity (PREIA) jointly organized a one-day stakeholders’ workshop on Pakistan Single Window (PSW) for managing Pakistan’s external trade, a FBR statement issued here said on Wednesday. The objective of the workshop was to… Continue reading FBR, USAID to jointly streamline customs, trade procedures

ISLAMABAD, Aug 21 (APP):The agricultural credit outreach in the country during financial year 2018-19 recorded about 8% growth as the number of farmers benefited from the agriculture credit has increased to 4.01 million as compared the 3.72 million farmers of same period last year. The targets of agriculture credit outreach was achieved by 91% by… Continue reading Agriculture credit outreach grew by 8% to 4.01 million farmers:SBP

KARACHI, Aug 21 (APP):Treasury Management Division of National Bank of Pakistan (NBP) on Wedesday issued the following exchange rates. CURRENCY SYMBOL TT Selling TT Buying U.S DOLLAR USD 159.00 158.50 EURO EUR 176.42 175.85 JAPANESE YEN JPY 1.4934 1.4886 BRITISH POUND GBP 193.31 192.67 SWISS FRANC CHF 162.46 161.93 CANADIAN DOLLAR CAD 119.50 119.08 AUSTRALIAN… Continue reading NBP Exchange Rates

ISLAMABAD, Aug 20 (APP):The Federal Board of Revenue (FBR) Tuesday set the target to mount Sales Tax Registration (STN) upto 400,000 people in next three years to eventually boost revenue collection and documentation of economy. “Around 250,000 people are already registered with FBR’s sales tax net, however only 41,000 were paying the sales tax, which… Continue reading FBR works out plan to increase ST registrations upto 0.4 mln in 3 years