Category: Business

ISLAMABAD, Aug 2 (APP):The Directorate of National Savings (CDNS) has set Rs.350 billion annual net target for the year 2019-20 as compared to Rs. 324 billion for the previous year’s 2018-19 to enhance savings and promoting saving culture in the country. The Directorate has also revised and increased the gross target of Rs 1570 billion… Continue reading CDNS set Rs.350 billion net target for 2019-20

ISLAMABAD, Aug 2 (APP):A twenty-five members delegation of Pakistan Furniture Council (PFC) would participate in Texworld USA International Exhibition in September to explore new markets and strengthen existing bilateral trade ties with the American business community. PFC Chairman Mian Kashif Ashfaq disclosed this while chairing a meeting of furniture exporters held here at PFC headquarter… Continue reading PFC to participate in Texworld USA exhibition in September

KARACHI, Aug 02 (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 160.00 159.50 EURO EUR 177.22 176.61 JAPANESE YEN JPY 1.4945 1.4897 BRITISH POUND GBP 193.50 192.87 SWISS FRANC CHF 161.73 161.16 CANADIAN DOLLAR CAD 121.04 120.65 AUSTRALIAN… Continue reading NBP Exchange Rates

KARACHI, Aug 01 (APP):On the basis real effective exchange rate, the exchange rate depreciated 15.8 percent between June 2019 and June 2018; slightly more than the 13.9 percent based on the old series. This has been worked out by the State Bank of Pakistan (SBP) through its study for calculating effective exchange rates, said a… Continue reading SBP revision study for calculating effective exchange rates

KARACHI, Aug 1 (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 160.00 159.50 EURO EUR 176.77 176.21 JAPANESE YEN JPY 1.4653 1.4606 BRITISH POUND GBP 194.06 193.43 SWISS FRANC CHF 160.56 160.00 CANADIAN DOLLAR CAD 121.15 120.75 AUSTRALIAN… Continue reading NBP Exchange Rates

ISLAMABAD, Jul 31 (APP):The International Finance Corporation (IFC), a member of the World Bank Group, will invest $2.5 million in Sarmayacar, one of the first early-stage venture capital funds supporting tech-driven startups in Pakistan, to help boost entrepreneurship and spur economic growth.  Of the total amount, $2 million is equity commitments from Startup Catalyst, IFC’s… Continue reading IFC to invest $2.5 million to support tech startups in Pakistan

KARACHI, Jul 31 (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 160.25 159.75 EURO EUR 178.77 178.17 JAPANESE YEN JPY 1.4760 1.4712 BRITISH POUND GBP 194.78 194.14 SWISS FRANC CHF 161.80 161.23 CANADIAN DOLLAR CAD 121.96 121.57 AUSTRALIAN… Continue reading NBP Exchange Rates

ISLAMABAD, Jul 30 (APP):The National Assembly Standing Committee on Finance and Revenue unanimously passed the Foreign Exchange Regulation (Amendment) Bill, 2019 and The Anti Money Laundering (Amendment) Bill, 2019 with few amendments and recommended that the bills might be passed by the Assembly.

ISLAMABAD, Jul 30 (APP):Advisor to the Prime Minister on Commerce, Investment, Industries & Production and Textile Razak Dawood on Tuesday said the Federal Bureau of Revenue (FBR) was following Prime Minister Imran Khan’s vision for bringing all people into tax net.

ISLAMABAD, Jul 30 (APP):The imports of plastic materials into the country witnessed negative growth of 5.30 percent during the financial year 2018-19 as compared to the corresponding period of last year. Pakistan imported plastic material worth $2222.855 million during July-June (2018-19) compared to the imports of $2347.222 million during July-June (2017-18), showing declined of 5.30… Continue reading Plastic Imports dip 5pc to $ 2.2bln

KARACHI, Jul 30 (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 160.80 160.30 EURO EUR 179.21 178.61 JAPANESE YEN JPY 1.4802 1.4755 BRITISH POUND GBP 195.71 195.07 SWISS FRANC CHF 162.23 161.66 CANADIAN DOLLAR CAD 122.11 121.69 AUSTRALIAN… Continue reading NBP Exchange Rates

ISLAMABAD, Jul 29 (APP):Chairman Federal Board of Revenue Syed Muhammad Shabbar Zaidi has sent the draft Memorandum of Understanding (MoU) on cooperation between FBR and China’s State Administration of Taxation in order to share taxation data between both the countries.

ISLAMABAD, Jul 29 (APP):Eyeing on the potential transport market, a Chinese company is all set to launch its online taxi service on August 10 in six big cities of the country, inviting competition with two such services already operating in the market. Timesaco, the company launching the Buraq Taxi Service, has devised a comprehensive strategy… Continue reading Chinese firm to start another online cab service on Aug 10

ISLAMABAD, Jul 29 (APP):The State Bank of Pakistan (SBP) on Monday reiterated not to share personal information on fake calls. “It has come to our knowledge that fraudsters are attempting to defraud the banking customers by seeking bank account details on the pretext of biometric verification,” the SBP said in a statement issued here.

ISLAMABAD, Jul 29 (APP):The Power Division has installed more than 1600 net metering based solar systems across the country with a cumulative capacity about 27.5 Mega Watt (MW) of electricity by end June 2019. National Electric Power Regulatory Authority (NEPRA) issued its net metering regulations in September 2015 under which the electricity Distribution Companies (DISCOs)… Continue reading Govt installs 1600 net metering based solar systems with 27.5MW capacity

ISLAMABAD, Jul 28 (APP):The exports of pharmaceutical product from the country during the financial year (2018-19) grew by 8.6 percent as compared to the corresponding period of last year. Pakistan exported pharmaceutical product of worth $211.674 million during July-June (2018-19) as against the export of $ 194.910 million during July-June (2017-18), showing raise of 8.6… Continue reading Pharmaceutical exports up by 8% to 211.674 mln

ISLAMABAD, Jul 27 (APP):Oil and Gas Development Company Limited (OGDCL) has injected eight new wells, producing 226,862 Barrels crude oil and 3,288 Million Cubic Feet gas, in its production gathering system during three quarters of the last fiscal year. Injected wells include Khirun-1, Nandpur-1, Kunnar-12, Nim-1, Loti-5, Pasakhi NE-2 and Qadirpur-59 & 60, according to… Continue reading OGDCL injects eight new oil, gas wells in production gathering system