Category: Business

KARACHI, Jul 16 (APP):Treasury Management Division of National Bank of Pakistan (NBP) on Tuesday issued the following exchange rates. CURRENCY SYMBOL TT Selling TT Buying U.S DOLLAR USD 160.75 160.25 EURO EUR 181.03 180.45 JAPANESE YEN JPY 1.4888 1.4840 BRITISH POUND GBP 201.21 200.54 SWISS FRANC CHF 163.21 162.68 CANADIAN DOLLAR CAD 123.19 122.76 AUSTRALIAN… Continue reading NBP Exchange Rates

ISLAMABAD, Jul 15 (APP):Federal Minister for Parliamentary Affairs, Muhammad Azam Khan Swati assured that investment and business climate of Pakistan was conducive for foreign investors, particularly because of the government’s focus on Board of Investment (BOI) as the main window for the foreign investors. This is the best time to invest in Pakistan as the… Continue reading Pakistan provides conducive environment for business, investment: Azam Swati

ISLAMABAD, Jul 15 (APP):The exports of Plastic Materials from the country witnessed an increase of 31.34 percent during the first eleven months of fiscal year (2018-19) as against the exports of the corresponding period of last year. The Plastic Materials exports from the country were recorded at $290.431 million during July-May (2018-19) against the exports… Continue reading Plastic exports up 31 pc in 11 months

ISLAMABAD, Jul 15 (APP):The State Bank of Pakistan (SBP) would announce its monetary policy on Tuesday, July 16. According to SBP press statement, the Monetary Policy Committee of SBP is scheduled to meet on Tuesday, July 16, 2019 at SBP Head Office Karachi to decide about Monetary Policy.   The Governor, Dr. Reza Baqir, would unveil the… Continue reading Monetary Policy to be announced on Tuesday

ISLAMABAD, Jul 15 (APP):The weekly inflation for the week ended on July 11, for the combined income group, witnessed an increase of 1.35 percent as compared to the previous week. The Sensitive Price Indicator (SPI) for the week under review in the combined group was recorded at 263.13 points against 259.63 points registered in the… Continue reading Weekly inflation up 1.35 pc

ISLAMABAD, Jul 15 (APP):The country’s services trade deficit narrowed by 28.22 per cent during the first eleven months of the current fiscal year compared to the corresponding period of last year. The services trade deficit during July-May (2018-19) was recorded at US$3.944 billion against the deficit of US$ 5.496 billion during July-May (2017-18), showing decline… Continue reading Services trade deficit contracts over 28.22%

KARACHI, Jul 15 (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 159.20 158.70 EURO EUR 179.45 178.88 JAPANESE YEN JPY 1.4738 1.4690 BRITISH POUND GBP 200.10 199.45 SWISS FRANC CHF 161.69 161.71 CANADIAN DOLLAR CAD 122.20 121.80 AUSTRALIAN… Continue reading NBP Exchange Rates

ISLAMABAD, Jul 14 (APP):Business community Sunday hoped that Prime Minister Imran Khan’s upcoming visit to United States of America (USA) would bring both the countries closer and help exploring new venues for mutual cooperation besides seeking direct access to American markets on zero rate duty to help stabilize its bleak economy. In a press statement… Continue reading Pakistan needs free access to US markets to stabilize its economy

ISLAMABAD, Jul 14 (APP):The Federation of Pakistan Chambers of Commerce and Industry (FPCCI) President Engineer Daroo Khan Achakzai Sunday hailed the announcement of the governmnet for constructing state of the art Faisalabad Expo Center which would facilitate local investors to showcase their products for attracting maximum Foreign Direct Investment (FDI) to promote trade and industry in… Continue reading FPCCI hails decision construction of new state of the art Faisalabad Expo Center

ISLAMABAD, Jul 14 (APP):With economic stability as its major goal, Pakistan is pursuing the policy of promoting stronger trade links with regional countries to increase its exports and slash the trade deficit. “Trade with neighbouring countries is our priority, particularly with the energy-rich Central Asian Republics,” Chairman Board of Investment Zubair Gilani told APP in… Continue reading BOI for enahncing regional connectiity ,through economic intergration

ISLAMABAD, Jul 12 (APP):Federal Minister for Planning, Development and Reform Makhdum Khusro Bakhtyar, while appreciating the contribution of World Bank in socio-economic development of Pakistan, said the incumbent government was committed to fast track the various projects being funded by World Bank. The minister was talking to Country Director, World Bank, Patchamuthu Illangovan who called… Continue reading World Bank funded projects to be expedited:Makhdum Khusro

ISLAMABAD, Jul 12 (APP):Chairman Federal Board of Revenue, Syed Muhammad Shabbar Zaidi said Friday that government would desist from taking any decision that is counterproductive for the textile industry, saying the misleading information was being spread on the issue of zero-rating sales tax, CNIC issue and imposition of tax on edible items. Addressing a press conference, the… Continue reading No anti-Industry decision, FBR rejects rumours over CNIC condition, zero-rating, food tax

ISLAMABAD, July 12 (APP):The government has released around Rs 338.215 million funds for four projects of the Petroleum Division under the Public Sector Development Programme (PSDP 2018-19) during the last fiscal year against the total allocation of Rs 463.175 million. According to the official data issued by the Ministry of Planning, an amount of Rs… Continue reading Four petroleum sector projects get Rs 338 mln against Rs 463 mln allocation

KARACHI, Jul 12 (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 158.80 158.30 EURO EUR 178.98 178.41 JAPANESE YEN JPY 1.4647 1.4600 BRITISH POUND GBP 199.21 198.56 SWISS FRANC CHF 160.49 159.97 CANADIAN DOLLAR CAD 121.83 121.40 AUSTRALIAN… Continue reading NBP Exchange Rates

ISLAMABAD, Jul 11 (APP):Federal Minister for Planning, Development and Reform Makhdum Khusro Bakhtyar Thursday said that the incumbent Government was focusing on promoting export-led industry and import substitution for sustained economic growth. He said that China can help increase Pakistan’s exports by relocating export oriented industries and initiating joint ventures in various fields. He said… Continue reading Pakistan to incentivize investment in export-led industry, import substitution: Khusru Bakhtyar

ISLAMABAD, Jul 11 (APP):The exchange rate of dollar jumped by 60 paisa in interbank, which traded at Rs 158.48 as compared to the last closing at Rs 157.88, State Bank of Pakistan (SBP) reported Thursday. However, according to the Forex Association of Pakistan, the buying and selling rates of dollar in the open market were… Continue reading Dollar gains 60 paisa in interbank, closes at Rs 158.48

ISLAMABAD, July 11 (APP):The government is all set to perform groundbreaking of the much-delayed multibillion dollar coastal oil refinery by end of this year with the confidence that the project, having capacity to produce 250,000 barrels per day (BPD), would be completed within the scheduled time-frame. Pak Arab Refinery Limited (PARCO) has proposed to establish… Continue reading Govt confident about timely completion of Coastal Oil Refinery

KARACHI, Jul 11 (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 158.30 157.80 EURO EUR 178.12 177.51 JAPANESE YEN JPY 1.4633 1.4585 BRITISH POUND GBP 197.95 197.31 SWISS FRANC CHF 160.18 159.66 CANADIAN DOLLAR CAD 121.01 120.62 AUSTRALIAN… Continue reading NBP Exchange Rates

KARACHI, Jul 10 (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 157.95 157.45 EURO EUR 177.03 176.46 JAPANESE YEN JPY 1.4505 1.4458 BRITISH POUND GBP 196.70 196.07 SWISS FRANC CHF 159.08 158.51 CANADIAN DOLLAR CAD 120.31 119.91 AUSTRALIAN… Continue reading NBP Exchange Rates

ISLAMABAD, Jul 10 (APP):The State Bank of Pakistan (SBP) received first tranche of $991.4 million from the International Monetary Fund (IMF) under Extended Fund Facility (EFF) to help the country reduce economic vulnerabilities and generate sustainable and balanced growth. “The SBP has received IMF first tranche of $991.4 million which is equivalent to SDR 716 million,”… Continue reading Pakistan receives first tranche of $991.4mln under EFF