ISLAMABAD, June 14 (APP):Minister for Planning, Development and Reform Makhdum Khusro Bakhtyar Friday said the government would timely complete the Kartapur Corridor to provide easy access to Sikh devotees besides promoting religious tourism. He was chairing a meeting on development of Gurdwara Kartarpur Corridor here. Secretary Planning Zafar Hasan, Secretary Religious Affairs, Director General FWO… Continue reading Kartarpur Coridor to be completed on time: Khusro
Category: Business
Business news from Pakistan
Pakistan’s ambitious efforts to raise domestic revenue receive WB Support
ISLAMABAD, Jun 14 (APP):The World Bank (WB) Friday approved a package of $518 million for two projects in support of Pakistan’s ambitious efforts to raise revenue and reduce compliance cost with a goal of providing better services to the people. The $400 million Pakistan Raises Revenue Project would support the Federal Board of Revenue’s (FBR)… Continue reading Pakistan’s ambitious efforts to raise domestic revenue receive WB Support
NBP Exchange Rates
KARACHI, Jun 14 (APP):Treasury Management Division of National Bank of Pakistan (NBP) on Friday issued the following exchange rates. Selling Buying Buying TT & OD TT Clean OD/T.CHQ U.S.A 153.95 153.45 153.13 U.K 195.09 194.46 194.06 EURO 173.55 172.98 172.63 CANADA 115.39 115.02 114.71 SWITZERLAND 154.87 154.37 153.96 AUSTRALIA 106.19 105.84 105.57 SWEDEN 16.22 16.17… Continue reading NBP Exchange Rates
Budgetary allocation for agriculture enhanced by 1,200% with no new tax: Minister
ISLAMABAD, June 13 (APP):Federal Minister for National Food Security and Research Sahibzada Mehboob Sultan Thursday said the government has enhanced allocation for the development of agriculture sector by 1,200 percent and allocated an amount of Rs12.5 billion in Federal Budget 2019-20 as compared to Rs1 billion of last fiscal year. Addressing a press conference flanked… Continue reading Budgetary allocation for agriculture enhanced by 1,200% with no new tax: Minister
FY19 to conclude with single digit CPI inflation, stable food prices
ISLAMABAD, Jun 13 (APP):With the overall Consumer Price Index (CPI) based inflation projected to remain in single digit during Fiscal Year 2019, the food prices are likely to remain stable due to effective monitoring of prices and smooth supply of essential items by the federal and provincial governments. The rising input costs on the back… Continue reading FY19 to conclude with single digit CPI inflation, stable food prices
Funding of Rs36.8 bln earmarked for Finance Division projects
ISLAMABAD, Jun 13 (APP):The federal government would spend around Rs 36821.749 million on 42 projects of Finance Division under Public Sector Development Program (PSDP) during the upcoming fiscal year 2019-20. Official data revealed that Rs 7938.772 million have been allocated for 23 ongoing development projects, Rs 3609 million for 14 new schemes and Rs 25273.977… Continue reading Funding of Rs36.8 bln earmarked for Finance Division projects
Govt ensures tax relief on medicines, food, essential items: FBR
ISLAMABAD, Jun 13 (APP):Envisaging protection of common people, the government through Budget 2019-20 has provided tax relief on various daily-use essential products including medicines, food and beverages as well as their inputs, a senior official of Federal Board of Revenue (FBR) said Thursday. Talking to APP, the official said that tax relief and exemption have… Continue reading Govt ensures tax relief on medicines, food, essential items: FBR
Dried dates consignments stuck up at Attari, allowed re-export to Pakistan: MOC
ISLAMABAD, Jun 13 (APP):The shipments of Pakistani dried dates lying at Attari check post since February 2019, have been finally allowed for re-export to Pakistan by Indian Customs due to the concerted efforts of Ministry of Commerce. The Commerce Division, due to the imposition of 200% duty by India on Pakistani products on 16th February… Continue reading Dried dates consignments stuck up at Attari, allowed re-export to Pakistan: MOC
Over Rs1.8 billion to be spent on Revenue Division development projects
ISLAMABAD, Jun 13 (APP):The government would spend Rs1818.238 million for 16 ongoing and 2 new development schemes of Revenue Division under the Public Sector Development Program (PSDP) for the fiscal year 2019-20.
Business community stands with PM Imran Khan in his war against corruption: Iftikhar Malik
ISLAMABAD, Jun 13 (APP):Founder Chairman Pak US Business Council and United Business Group (UBG) Central Chairman Iftikhar Ali Malik Thursday said the business community will extend all support to Imran Khan in his mission to eliminate menace of corruption, in all its forms and manifestations, from the country.
PFC terms federal budget 2019-20 as balanced
ISLAMABAD, Jun 12 (APP):Pakistan Furniture Council (PFC) Chief Executive Mian Kashif Ashfaq Wednesday termed Federal Budget 2019-20 as balanced, development, growth-oriented and moderate envisaging several pro-business measures despite economic crunch and a number of domestic and international challenges on different fronts.
Rs100 million allocated for BOI in PSDP 2019-20
ISLAMABAD, Jun 12 (APP):The government has allocated Rs100 million in Public Sector Development Programme (PSDP) 2019-20 for one on-going scheme of the Board of Investment (BOI) for the industrial promotion and investment in the country.
Rs100 million allocated for Commerce, Rs 202.828 million for Textile in PSDP
ISLAMABAD, Jun 12 (APP):The government has allocated Rs100 million for one new scheme of the Ministry of Commerce and Rs202. 828 million for Textiles Industry Division in one on-going and two new schemes in Public Sector Development Programme (PSDP) 2019-20 for the promotion of trade and commerce in the country.
High exports, less expenditures to help balance twin deficits: Dr Hafeez Sheikh
ISLAMABAD, Jun 12 (APP):Advisor to Prime Minister on Finance and Revenue Dr Abdul hafeez Shaikh on Wednesday said the government intended to balance the twins deficits through increasing exports and controlling extra expenditures. The government has the biggest challenges to balance the twin deficits including foreign account and trade deficit for adopting the policy of… Continue reading High exports, less expenditures to help balance twin deficits: Dr Hafeez Sheikh
NBP Exchange Rates
KARACHI, Jun 12 (APP):Treasury Management Division of National Bank of Pakistan (NBP) on Wednesday issued the following exchange rates. Selling Buying Buying TT & OD TT Clean OD/T.CHQ U.S.A 151.90 151.40 151.09 U.K 193.22 192.58 192.18 EURO 172.16 171.59 171.24 CANADA 114.32 113.94 113.64 SWITZERLAND 153.15 152.64 152.24 AUSTRALIA 105.55 105.20 104.92 SWEDEN 16.07 16.02… Continue reading NBP Exchange Rates
Gwadar gets over Rs 4 bln for uplift projects
ISLAMABAD, Jun 11 (APP):The government has allocated over Rs 4 billion for the development of Gwadar for fiscal year 2019-20 through various projects including construction of airport, railway corridor, desalination plant and fish landing jetty. The New Gwadar International Airport will receive Rs 555 million of which Rs 200 is foreign aid. The project was… Continue reading Gwadar gets over Rs 4 bln for uplift projects
Govt employees, pensioners get a 10% raise
ISLAMABAD, Jun 11 (APP):The government Tuesday announced a 10 percent raise in salaries of government employees from BPS 1 – 16, a five percent increase for those in BPS 17-20, besides a 10 percent enhancement in the pensions of civil and military officials. Minister of State for Revenue, Hamad Azhar in his budget speech at… Continue reading Govt employees, pensioners get a 10% raise
Rs 7.022 trillion economic stabilization budget for FY2019-20 presented
ISLAMABAD, Jun 11 (APP):The Pakistan Tehreek-i-Insaf led government Tuesday presented its first federal budget for the year 2019-20, with total outlay of Rs7.022 trillion, focusing on fiscal consolidation, revenue mobilization, austerity measures and protection to the vulnerable segments of society. “The overriding goal of the government in this budget of course is the welfare and… Continue reading Rs 7.022 trillion economic stabilization budget for FY2019-20 presented
Measures proposed for simplification of tax laws, documentation of economy: Hammad Azhar
ISLAMABAD, Jun 11 (APP):Minister of State for Revenues Hammad Azhar on Tuesday said that government has proposes several taxation measures in its federal budget 2019-20 for broadening the tax base, documentation of national economy through simplification of tax laws and a friendly tax compliance regime. Delivering his budget speech in the National Assembly, the minister… Continue reading Measures proposed for simplification of tax laws, documentation of economy: Hammad Azhar
Text of Federal Budget 2019-20 speech
ISLAMABAD, June 11 (APP):Following is the text of budget speech of Minister of State for Revenue Hammad Azhar, delivered at the National Assembly on Tuesday. “ BismillahirRehmanirRaheem Mr. Speaker, 1. I would like to start by thanking Almighty Allah, the most gracious, the most merciful, as I present the first Annual Budget of the democratic… Continue reading Text of Federal Budget 2019-20 speech
