Category: Business

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

KARACHI, Aug 20 (APP):KARACHI, Aug 20 (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 159.00 158.50 EURO EUR 176.33 175.73 JAPANESE YEN JPY 1.4918 1.4870 BRITISH POUND GBP 192.92 192.30 SWISS FRANC CHF 162.11 161.58 CANADIAN DOLLAR… Continue reading NBP Exchange Rates

Shams Abbasi ISLAMABAD, Aug 19 (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

KARACHI, Aug 19 (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 159.00 158.50 EURO EUR 176.36 175.79 JAPANESE YEN JPY 1.4950 1.4901 BRITISH POUND GBP 193.25 192.61 SWISS FRANC CHF 162.33 161.75 CANADIAN DOLLAR CAD 119.77 119.35 AUSTRALIAN… Continue reading NBP Exchange Rates

ISLAMABAD, Aug 18 (APP):The Central Leader of Pakistan Tehreek-e-Insaf Asad Umar Sunday underlined the need to engage youth for tapping the potential offered by Gilgit-Baltistan in tourism, agriculture and Information Technology sectors. Addressing a seminar titled “Entrepreneurship and Youth development” held at University Baltistan in Gilgat Baltistan, Asad Umar said the University could play central… Continue reading GB has tremendous potentials in tourism, agriculture, IT sectors: Asad

ISLAMABAD, Aug 18 (APP):Due to THE initiatives taken by the Pakistan Tehreek-e-Insaf government, the remittances surpassed the target of $ 21.2 billion in the financial year 2019 showing an increase of 9.68 percent over the previous year. According to the one-year performance report of Ministry of Finance shared by Special Assistant to Prime Minister on… Continue reading Remittances surpass $ 21.2 bln target

ISLAMABAD, Aug 18 (APP):The Ministry of Planning and Development has allocated Rs 72 billion for the fiscal year 2019-20 with an aim to ensure smooth integration of merged districts of Khyber Pakhtunkhwa into the mainstream, With enhanced PSDP from Rs 675 billion (2018-19) to Rs 701, the government has been focusing on less developed districts… Continue reading Rs 72bn allocated for smooth integration of merged KP districts

ISLAMABAD, Aug 18 (APP):The Board of Investment (BOI) in record time of one year approved 11 special economic zones (SEZs) and improved Pakistan’s global ease of doing business raking from 147th in 2018 to 136th in 2019. “Pakistan’s ranking in World Bank’s Ease of Doing Business Index has improved from 147th in 2018 to 136… Continue reading BOI approves 11 SEZs, ease of doing business ranking improved from 147 to 136

ISLAMABAD, Aug 18 (APP):The Federal Board of Revenue (FBR) in one year of the Pakistan Tehreek-e-Insaf (PTI) has increased 60 percent collection of (Inland Revenue) IR Domestic Taxes. The FBR while broadening the Tax Base (Inland Revenue Policy) had achieved 99.2 percent target of taxes collection during the month of July 2019 by the IR-Operations… Continue reading FBR increases 60 percent domestic tax collection in one year

ISLAMABAD, Aug 18 (APP):The federal government has so far released Rs 15.4 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 10.2 billion for federal… Continue reading Govt releases Rs 15.4 bln for development projects

ISLAMABAD, Aug 17 (APP):After receiving inflows of US$500 million from the Asian Development Bank (ADB), the country’s total liquid foreign reserves held by the country stood at US$15,577.5 million as on August 09, 2019, State Bank of Pakistan (SBP) reported Saturday. The foreign reserves held by the State Bank of Pakistan stood at US$8,264.4 million… Continue reading Foreign exchange reserves increase to $15.577 billion

ISLAMABAD, Aug 13 (APP):Advisor to Prime Minister for Commerce, Textile, Industry & Production and Investment , Abdul Razak Dawood on Tuesday said a meeting would be arranged in Washington next month to accelerate the business activities between Pakistan and the United States. A Trade and Investment Framework Agreement (TIFA) meeting would be held in September… Continue reading TIFA meeting to be held in Washington to accelerate business: Razak Dawood

ISLAMABAD, Aug 10 (APP):Commercial Attaché of Afghanistan in Pakistan Sameena Wadeer on Saturday said that Afghanistan was undergoing rehabilitation and reconstruction phase and it was good time for Pakistani investors to explore it for investment. She visited Islamabad Chamber of Commerce & Industry and exchanged views with the local business community for promoting bilateral trade… Continue reading Pakistani investors urged to explore investment opportunities in Afghanistan