Category: Business

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

ISLAMABAD, Jul 26 (APP):Adviser to Prime Minister for Finance and Revenue, Dr. Abdul Hafeez Shaikh and Governor, State Bank of Pakistan, Reza Baqir apprised the Executive Directors of International Monetary Fund (IMF) from G-7 Countries about the on-going reform process under the IMF Program in Pakistan and the government’s strong commitment to its successful implementation.… Continue reading IMF EDs apprised about reform process under fund programme

ISLAMABAD, July 26 (APP):Oil and Gas Development Company (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 the… Continue reading OGDCL injects eight new oil, gas wells in production gathering system

ISLAMABAD, Jul 25 (APP):Adviser to the Prime Minister on Finance and Revenue Dr. Abdul Hafeez Shaikh and Governor State Bank of Pakistan Dr. Reza Baqir spent a busy day in Washington, DC meeting with the International Monetary Fund (IMF) Managing Director David Lipton and senior officials of the World Bank and International Finance Corporation (IFC).

KARACHI, Jul 25 (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 160.75 160.25 EURO EUR 179.03 178.42 JAPANESE YEN JPY 1.4861 1.4814 BRITISH POUND GBP 200.54 199.90 SWISS FRANC CHF 163.19 162.67 CANADIAN DOLLAR CAD 122.39 121.99 AUSTRALIAN… Continue reading NBP Exchange Rates

ISLAMABAD, Jul 24 (APP):Chinese investors have worked out a comprehensive business plan to provide five important services to citizens of Pakistan in six big cities, initially investing $20 million, with future prospects of $600 million. Chinese company, Timesaco intends to provide five special services in sectors including transportation, cargo, bank transaction and advertizing, Chief Operating… Continue reading $20 million Chinese investment comes in service sector

ISLAMABAD, July 23 (APP):The Petroleum Division of Energy Ministry is working on a strategy to further add around 400 Million Cubic Feet per Day (MMCFD) Liquefied Natural Gas (LNG) in distribution network of the two state companies, SNGPL and SSGC, by end of this year. “We have to bring 400 MMCFD LNG in the system… Continue reading Petroleum Division plans to inject additional 400 MMCFD LNG in system by year end

ISLAMABAD, Jul 23 (APP):The Asian Development Bank (ADB) has approved a US $ 50 million additional capital contribution to support the guarantee operations of the Credit Guarantee Investment Facility (CGIF), a trust fund of ADB created to promote the development of deep and liquid local currency and regional bond markets in the ASEAN+3 region. According… Continue reading ADB approves $50 mln additional contribution for CGIF

ISLAMABAD, Jul 23 (APP):Business community Tuesday widely hailing the decision of United States President Donald Trump for enhancing volume of mutual trade up to twelve folds said Pakistan is an ideal and attractive investment destination coupled with large market endowed studded with a rich array of resources. Founder Chairman Pak US Business Council and Senior… Continue reading Traders laud Trump’s decision to boost trade relations with Pakistan

KARACHI, Jul 23 (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 179.96 179.35 JAPANESE YEN JPY 1.4877 1.4830 BRITISH POUND GBP 200.29 199.64 SWISS FRANC CHF 163.37 162.84 CANADIAN DOLLAR CAD 122.44 122.01 AUSTRALIAN… Continue reading NBP Exchange Rates

ISLAMABAD, Jul 22 (APP):The exports of cement from the country during the financial year 2018-19 witnessed increased of 21.94 percent as compared to the corresponding period of last Year. The cement exports from the country were recorded at $271.726 million during July-June (2018-19) as against the exports of $ 222.841 million during July-June (2017-18), showing… Continue reading Cement exports rise 21 percent

ISLAMABAD, Jul 22 (APP):The Textile group exports from the country grew by 0.17 percent during the financial year 2018-19 as compared to the corresponding period of last year, State Bank of Pakistan (SBP) reported. The textile group exports from the country during July-June (2018-19) were recorded at US $13553.153 million against the export of US… Continue reading SBP data shows 0.17 pc growth in textile exports

ISLAMABAD, Jul 22 (APP):The Federal Board of Revenue (FBR) Monday asked all the banks to collect details of benami accounts of their account holders themselves. According to FBR statement, the Chairman of the board, Syed Mohammad Shabbar Zaidi wrote to the heads of all banks, asking them to collect the details under the Benami Transaction… Continue reading Banks asked to collect details of Benami accounts themselves

ISLAMABAD, July 22 (APP):Oil and Gas Regulatory Authority (OGRA) has provided around Rs107 million relief to consumers by addressing their complaints against two state companies, Sui Northern Gas Pipelines Limited (SNGPL) and Sui Southern Gas Company Limited (SSGC) during the last fiscal year. The authority received 7,082 complaints, out of which it decided 5,909 and… Continue reading OGRA provides Rs107 million relief to complainants

KARACHI, Jul 22 (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 160.75 160.75 EURO EUR 180.36 179.75 JAPANESE YEN JPY 1.4888 1.4841 BRITISH POUND GBP 201.02 200.37 SWISS FRANC CHF 163.46 162.93 CANADIAN DOLLAR CAD 123.07 122.67 AUSTRALIAN… Continue reading NBP Exchange Rates

ISLAMABAD, Jul 21 (APP):Rice exports from the county during preceding financial year witnessed about1.6% growth as compared the exports of the corresponding period of last year. During the period from July-June, 2018-19 bout 4,104,983 metric tons of rice worth US$2.096 billion exported as compared the exports of 4,096,446 metric tons valuing US$ 2.035 billion of… Continue reading Rice valuing US$2.96 bln exported, grew by 1.6% in FY2018-19

ISLAMABAD, Jul 21 (APP):The Federation of Pakistan Chambers of Commerce and Industry (FPCCI) would organize 7th Achievement Awards Ceremony for the year 2019 on July 25 in recognition of the outstanding contributions in development of different sectors of national economy. The award ceremony is likely to be held at Aiwan-e-Sadr, while President Dr Arif Alvi… Continue reading Seventh FPCCI achievement awards ceremony to be held on July 25

ISLAMABAD, Jul 21 (APP):The International Monetary Fund (IMF) has projected that Pakistan’s exports will increase to US $ 36.7 billion in five years by the year 2023-24. The pressure of current account deficit on the country will also ease out gradually from its peak US $ 19.9 billion in 2017-18 to as low as $6.95… Continue reading Pakistan’s exports will increase up to US $ 36 bn in 5 years: IMF