Category: Business

LAHORE, Mar 29 (APP):Ambassador of Egypt Ahmed Fadel Yacoub said on Friday that a sector-specific trade delegation from Egypt would visit Pakistan from May 2 to explore trade and investment opportunities. Talking to LCCI President Almas Hyder and Vice President Faheem-ur-Rehman Saigal at Lahore Chamber of Commerce & Industry, he said, “I am here with… Continue reading Egypt Business Team due in May: envoy

ISLAMABAD, Mar 28 (APP):Advisor to the Prime Minister on Commerce, Textile, Industries, Production and Investment Abdul Razak Dawood here on Thursday said that ease of doing business, pro-investment initiatives and restructuring of taxation system would greatly help promote investment and exports of Pakistan. Talking to Chinese Ambassador to Pakistan Yao Jing, who called on him,… Continue reading Pro-investment initiatives to attract investment, promote exports: Dawood

ISLAMABAD, Mar 28 (APP):The government has provided Rs 42 billion to local textile industry under Prime Minister Exports Enhancement Package for enhancing the textile exports. The initiative was aimed at to bridge the gap between local exports and imports by encouraging the export oriented industry and incentivising the industrial sector for introducing the innovative, modern… Continue reading Govt pays Rs.42 billion to textile sector under PM exports enhance package

KARACHI, Mar 28 (APP):Treasury Management Division of National Bank of Pakistan (NBP) on Thursday issued the following exchange rates. Selling Buying Buying TT & OD TT Clean OD/T.CHQ U.S.A 140.70 140.20 139.91 U.K 185.61 184.95 184.57 EURO 158.34 157.78 157.46 CANADA 104.93 104.56 104.29 SWITZERLAND 141.36 140.86 140.49 AUSTRALIA 99.81 99.46 99.20 SWEDEN 15.17 15.12… Continue reading NBP Exchange Rates

ISLAMABAD, March 27 (APP):The federal government has not revised rates or limits for tax on cash withdrawal from bank accounts under section 231A, Federal Board of Revenue (FBR) Wednesday said. Also, the rates or limit has not been revised on issuance of cash denominated bank instruments such as pay orders and demand drafts under section… Continue reading Rates, limits for tax on cash withdrawal not revised: FBR

ISLAMABAD, March 27 (APP):Minister of State for Revenue Hammad Azhar Wednesday said there has been no change in cash limits or tax rates on cash withdrawal from the bank accounts. Only change which has been made through Finance 2nd Supplementary Act 19 is taking out the tax filers from the scope of relevant law. Now… Continue reading No change in cash limits, tax rates: Hammad

ISLAMABAD, Mar 27 (APP):Economic Coordination Committee of the Cabinet (ECC) here on Wednesday approved to waive the accumulated penal surcharges of Rs 700 million off against overstayed consignments at ports. The proposal to this effect was presented by Federal Board of Revenue for approval in ECC meeting which held here with Finance Minister Asad Umar… Continue reading ECC waives accumulated penal surcharges against overstayed consignments

ISLAMABAD, Mar 27 (APP):The government has provided Rs 42 billion to local textile industry under Prime Minister Exports Enhancement Package for enhancing the textile exports. The initiative was aimed at to bridge the gap between local exports and imports by encouraging the export oriented industry and incentivising the industrial sector for introducing the innovative, modern… Continue reading Govt pays Rs. 42 billion to textile sector under PM exports enhance package

ISLAMABAD, March 27 (APP):A delegation of TOTAL PARCO Wednesday called on Minister for Petroleum Ghulam Sarwar Khan and hinted to invest $150 million in petroleum marketing sector of Pakistan during the next three years. The delegation, which was headed by Vice President TOTAL PARCO for South Pacific Indian Ocean Olivier Chalvon, also showed interest to… Continue reading TOTAL PARCO hints at $150 mln investment in marketing sector

NOWSHERA, Mar 27 (APP):The Belarusian heavy trucking company BELAZ has launched its first dumper truck in Pakistan with 45 tonne loading capacity and it will mainly be used in cement and mining sectors. A ceremony in this regard was held here at the Cherat Cement Factory. The company has planned to procure at least 15… Continue reading Belarusian heavy dumper trucks enter Pakistani market

KARACHI, Mar 27 (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 140.70 140.20 139.91 U.K 185.44 184.78 184.40 EURO 158.35 157.79 157.46 CANADA 105.05 104.68 104.40 SWITZERLAND 141.29 140.79 140.42 AUSTRALIA 100.00 99.64 99.38 SWEDEN 15.19 15.14… Continue reading NBP Exchange Rates

ISLAMABAD, March 26 (APP):The National Assembly standing committee on Industries and Production Tuesday informed by the Advisor to Prime Minister/In-charge Ministry of Industries and Production Abdul Razak Dawood that currently National SME policy was under developing process and will be presented before the Minister in-charge on 11th April, 2019. The committee which met here at… Continue reading NA body briefed about upcoming national SME policy

RAWALPINDI, March 26 (APP):China is committed to improve trade relations with Pakistan as both countries are enjoying great friendly relationships, Chinese Ambassador Yao Jing Tuesday said. Addressing Pak China business opportunity conference being organized by Rawalpindi Chamber of Commerce and Industry (RCCI) here at a local hotel,the Envoy said that China Pakistan Economic Corridor (CPEC)… Continue reading China committed to improve trade relations with Pakistan: Yao Jing

ISLAMABAD, Mar 26 (APP):The Belorussian heavy trucking company BELAZ has entered the Pakistani market with a heavy dumping truck having capacity of 45 tons of load as the Greaves Pakistan- a subsidiary company of Ghulam Faroque Group made an agreement with the Belorussian company BELAZ for commissioning of mining trucks in Pakistan. “This is the… Continue reading Belarussian dump trucks enter Pakistani market

KARACHI, Mar 26 (APP):Treasury Management Division of National Bank of Pakistan (NBP) on Tuesday issued the following exchange rates. Selling Buying Buying TT & OD TT Clean OD/T.CHQ U.S.A 140.70 140.20 139.91 U.K 185.67 185.01 184.63 EURO 159.21 158.64 158.32 CANADA 105.09 104.72 104.45 SWITZERLAND 141.80 141.30 140.92 AUSTRALIA 100.19 99.83 99.57 SWEDEN 15.23 15.18… Continue reading NBP Exchange Rates

ISLAMABAD, Mar 25 (APP):Meeting of the Steering Committee of Economic Pillar of Saudi-Pakistani Supreme Coordination Council (SPSCC), chaired by Finance Minister, Asad Umar, was held on Monday to review and discuss the progress on implementation of Memoranda of Understanding (MoUs). These MoUs were signed during the visit of Saudi Crown Prince, Mohammed bin Salman to… Continue reading Asad Umar reviews progress on implementation of MoUs signed with KSA

GWADAR, March 25 (APP):Minister for Planning, Development and Reform Makhdum Khusro Bakhtyar Monday said fastracking development of Gwadar is a top priority of the incumbent government in order to ensure inclusive development in the city. He expressed these views during his one day visit to Gwadar. He was flanked by Balochistan Chief Minister Jam Kamal,… Continue reading Hastening pace of Gwadar’s development top priority: Bakhtyar

ISLAMABAD, Mar 25 (APP):The State Bank of Pakistan (SBP) has received US 2.2 billion from China, said a message received from the bank on Monday. “The SBP has received RMB 15 billion value, equivalent to $2.2 billion as proceeds of the loan obtained by government of Pakistan from China,” the message added. With this deposit,… Continue reading Pakistan receives $2.2 bln from China

ISLAMABAD, Mar 25 (APP):The Board of Investment (BOI) was optimistic that Pakistan’s ranking in Ease of Doing Business would show considerable improvements and come down below 100 when the World Bank releases its next rankings during May this year. “Currently the BOI has been working on evaluating the performance of ease of doing business in… Continue reading Pakistan to come down below 100 in EDB ranking: BOI

ISLAMABAD, Mar 25 (APP):The exports of various transport services earned $425.639 million for the country during the first seven months of the current fiscal year (2018-19). However, as compared to the $572.050 million exports of last year, the exports of transport services during the July-January (2018-19) witnessed negative growth of 25.46 percent, according to the… Continue reading Transport services’ exports earn over $425 in 7 months