Govt unveils Rs 7.137 trillion relief budget for FY2020-21 sans new taxes

ISLAMABAD, June 12 (APP):Despite unprecedented financial constraints and economic slowdown caused by the coronavirus pandemic, the Federal Government on Friday unveiled Rs 7.137 trillion growth and relief-oriented budget for the fiscal year 2020-21, without imposing any new tax. “No new taxes have been introduced in the budget for the upcoming fiscal year to provide relief… Continue reading Govt unveils Rs 7.137 trillion relief budget for FY2020-21 sans new taxes

Highlights of Economic Survey of Pakistan 2019-20

ISLAMABAD, Jun 11 (APP):Adviser to Prime Minister on Finance and Revenue Dr Abdul Hafeez Shaikh on Thursday launched Economic Survey of Pakistan 2019-20. Following are the highlights of survey: ** Provisional GDP growth estimated negative 0.38% ** Agriculture sector grew by 2.67% ** Cotton production reduced 6.9% ** wheat production grew by 2.5% ** Rice… Continue reading Highlights of Economic Survey of Pakistan 2019-20

Coronavirs inflicts Rs 3,000 b loss, reduces GDP to negative 0.38% in FY2020: Hafeez Shaikh

ISLAMABAD, Jun 11 (APP):Adviser to the Prime Minister on Finance and Revenue Dr Abdul Hafeez Shaikh Thursday said the country’s economy was stabilizing before the outbreak of coronavirus pandemic (COVID-19), which inflicted losses of about Rs 3,000 billion and derailed it towards negative growth of 0.38 percent. The advisor was addressing the launching ceremony of… Continue reading Coronavirs inflicts Rs 3,000 b loss, reduces GDP to negative 0.38% in FY2020: Hafeez Shaikh

Pakistan faces over 2 BCFD gap between production & demand of natural gas

ISLAMABAD, June 11 (APP):The government on Thursday said there was a gap of over 2 Billion Cubic Feet per day gas between production and demand of the commodity to meet requirements of more than 9.6 million consumers across the country. According the Economic Survey 2019-20 unveiled by Adviser to Prime Minister on Finance and Revenue… Continue reading Pakistan faces over 2 BCFD gap between production & demand of natural gas

NHA playing vital role in improving connectivity and competitiveness of businesses: Economic Survey

ISLAMABAD, Jun 11 (APP):National Highway Authority (NHA) has been playing a vital role in improving the productivity and competitiveness of businesses, and the quality of travel with an emphasis on safety, apart from creating job opportunities, said Economic Survey 2019-2020 release here on Thursday. Pakistan is virtually bisected into two halves by River Indus and… Continue reading NHA playing vital role in improving connectivity and competitiveness of businesses: Economic Survey

Textile exports maintains about 59%: PES 2019-20

ISLAMABAD, Jun 11 (APP):Textile exports of the country maintained about 59 percent, according to Pakistan Economic Survey (PES) 2019-20. Textile is the most important manufacturing sector of Pakistan and has the longest production chain, with inherent potential for value addition at each stage of processing, from cotton to ginning, spinning, fabric, dyeing and finishing, made-ups… Continue reading Textile exports maintains about 59%: PES 2019-20

PM presented Economic Survey 2019-20

ISLAMABAD, Jun 11 (APP):Prime Minister Imran Khan on Thursday was presented Economic Survey 2019-20 as the government is all set to announce the federal budget for the next fiscal year on Friday. Adviser to PM on Finance Dr Abdul Hafeez Sheikh presented the copy of Economic Survey to the Prime Minister in a meeting held… Continue reading PM presented Economic Survey 2019-20

Public debt recorded at Rs 35,207 bln by March end

ISLAMABAD, Jun 11 (APP):Pakistan’s total public debt was recorded at Rs 35,207 billion by end March 2020 compared with Rs 32,708 billion at end June 2019, registering an increase of Rs 2,499 billion during first nine month of current fiscal year. According to Pakistan Economic Survey, the federal government borrowing for financing of its deficit… Continue reading Public debt recorded at Rs 35,207 bln by March end

PAEC to enhance nuclear energy share to 8,800 MW by 2030

ISLAMABAD, Jun 11 (APP):Pakistan Atomic Energy Commission (PAEC) has intensified its activities to meet the nuclear electricity generation target of 8,800 MW by the year 2030 set through government’s Energy Security Plan formulated in 2005. According to Economic Survey 2019-20 released here Thursday, completion of K-2/K-3 project will be a big step that will bring… Continue reading PAEC to enhance nuclear energy share to 8,800 MW by 2030

Overall FBR tax collection increases by 10.8% in July-April 2019-20

ISLAMABAD, Jun 11 (APP):The overall Federal Board of Revenue (FBR) tax collection grew by 10.8 percent during the first ten months of financial year (2019-20) as compared to the corresponding period of last year. According to the Economic Survey 2019-20 launched here on Thursday, the FBR tax collection were recorded at Rs 3,300.6 billion during… Continue reading Overall FBR tax collection increases by 10.8% in July-April 2019-20

MoCC to revise NDCs under Paris Agreement for reducing GHG emissions by 20 percent

ISLAMABAD, Jun 11 (APP):Ministry of Climate Change (MoCC) being the National Responsible Government Agency has just started the work on the revision of Nationally Determined Contributions (NDCs) and Global Climate Impact Study Centre (GCISC) was directed to provide technical inputs and liaise with National and Provincial Government Departments and Development partners in this regard. According… Continue reading MoCC to revise NDCs under Paris Agreement for reducing GHG emissions by 20 percent

Manpower export goes up by 63pc in 2019: PES

ISLAMABAD, Jun 11 (APP):The Ministry of Overseas Pakistanis and Human Resource Development (OP&HRD) has assisted 625,203 people to go abroad for prospective job opportunities in multiple trades during the 2019, said the Pakistan Economic Survey (PES) 2019-20. According to the report issued on Thursday, the manpower export had registered a marked increase of 63 per… Continue reading Manpower export goes up by 63pc in 2019: PES

Agriculture credit disbursement grew 13.3 percent: Economic Survey

ISLAMABAD, Jun 11 (APP):The agriculture credit disbursement witnessed about 13.3 percent growth during the fiscal year 2019-20 as compared to the disbursement of same period of last year. According to the Economic Survey 2019-20 launched here on Thursday, during the period from July-March 2019-20, banks disbursed Rs 912.2 billion which was 67.6 percent of the… Continue reading Agriculture credit disbursement grew 13.3 percent: Economic Survey

Over 85,000 jobs created under CPEC’s early harvest projects: PES

ISLAMABAD, Jun 11 (APP):The early harvest projects of the China Pakistan Economic Corridor (CPEC) have created more than 85,000 direct jobs for Pakistanis, said the Pakistan Economic Survey (PES) 2019-20 issued on Thursday. According to the survey, nine Special Economic Zones (SEZs) would be set up under the CPEC portfolio, which would help create tremendous… Continue reading Over 85,000 jobs created under CPEC’s early harvest projects: PES

NHA attracted private sector investment worth Rs 90 bn for five BOT projects: Economic Survey

ISLAMABAD, Jun 11 (APP):National Highway Authority (NHA) through its dedicated efforts, took the lead in the road infrastructure development through private sector participation. NHA successfully attracted private sector investment and has awarded/supported five projects of worth over Rs 90 billion, said Economic Survey of Pakistan 2019-2020 released here on Thursday. The Build-Operate-Transfer (BOT) and Public-Private… Continue reading NHA attracted private sector investment worth Rs 90 bn for five BOT projects: Economic Survey

New licenses issued by PEMRA to inject investment worth $3 billion: Economic Survey

ISLAMABAD, Jun 11 (APP):The growth of the media industry in Pakistan has multiplied rapidly during the last decade, with a cumulative investment of approximately $4-$5 billion. The sector is providing employment to more than 300,000 people. Moreover, new licenses issued by Pakistan Electronic Media Regulatory Authority (PEMRA) would inject investment of approximately $2-$3 billion, said… Continue reading New licenses issued by PEMRA to inject investment worth $3 billion: Economic Survey

HEC makes efforts to enhance research in universities: Economic Survey

ISLAMABAD, Jun 11 (APP):With the efforts of Higher Education Commission(HEC), the research activities have enhanced in public sector institutions across the country. According to the Economic Survey of Pakistan 2019-20 issued here on Thursday, the streamlined research, generated by strategic academic processes that build strong societies and economies, has now entered a takeoff phase of… Continue reading HEC makes efforts to enhance research in universities: Economic Survey

Work on Gwadar Port Free Zone phase-1 completed

ISLAMABAD, Jun 11 (APP):The construction of Gwadar Fort Free Zone Phase-I has been completed with all infrastructures, including power, water, road and now in operation. According to Economic Survey 2019-2020 issued on Thursday, more than 30 enterprises from various sectors, such as banks, insurance, financial leasing, hotels, warehouses, fishery products processing, edible oil processing, pipe,… Continue reading Work on Gwadar Port Free Zone phase-1 completed

Govt makes strategy to reduce tobacco consumption

ISLAMABAD, Jun 11 (APP):The ministry of National Health Services has chalked out a strategy to enhance efforts to reduce the prevalence of tobacco use in any form in the country by urging all tobacco manufacturers to print new Pictorial Health Warning (PHW) on cigarette packs. According to Economic Survey 2019-20 released here Thursday, tobacco use… Continue reading Govt makes strategy to reduce tobacco consumption

Category: Economic Survey 2019-20