WB commits $465 million through two projects for Pakistan
?The two projects support Pakistan?s long-term vision for building high quality talent and promote the creation of a regional energy market to boost economic prospects for millions of Pakistanis,? said Illango Patchamuthu, World Bank Country Director for Pakistan. ?Both projects form part of the priority areas identified in Pakistan@100: Shaping the Future, a flagship initiative that identifies frontier interventions ...
Agriculture contributes 22pc to provincial GDP
Furthermore, the tight global food market, volatile food prices, high prices of agriculture inputs, energy crises, increased rate of population growth, gap between supply and demand, poor purchasing power of consumers, water scarcity and drought, unprecedented natural disasters and crises in Khyber Pakhtunkhwa has had serious impact on farmers despite provincial government efforts, Official sources told on an other ...
Pakistan Post to launch int’l remittances initiative
Now, is going to launch Foreign Remittance Initiative (FRI) for overseas Pakistanis to offer them free of cost money transfer service in collaboration of National Bank of Pakistan initially in 230 post offices which will be gradually extended to 3000 post offices across the county. ?We have a largest network of post offices across the country and we ...
Increasing power, gas tariffs a compulsion: PM's adviser Hafeez Sheikh
LAHORE: Adviser to PM on Finance Abdul Hafeez Sheikh said on Saturday that increasing electricity and gas tariffs was a compulsion as the government could not afford to provide subsidies under the current circumstances. During the meeting industrialists and traders presented various suggestions before the finance adviser for improvement of economic situation of the country, said Gohar Ejaz, group ...
EU reserves right to take own decisions on Boeing 737 MAX
Seoul The European Union will work with other regulators on the approval of new software for the Boeing 737 MAX but reserves the right to take its own decision on when to return the grounded jet to service, the bloc’s transport chief said on Sunday. “Certainly EASA will take a very close look at the results (of proposed design changes) and ...
LPG price slashed by Rs15.32 per kg for June
ISLAMABAD?? -?? The government on Friday reduced the price of indigenous liquefied petroleum gas (LPG) by Rs 15.32 per kg or Rs 180.75 for 11.8kg domestic cylinder for the month of June 2019. According to the notification issued by Oil and Gas Regulatory Authority (OGRA), the LPG prices have been decreased by Rs 15.32 per kg (11.43 percent) from ...
Govt hikes POL prices, petrol goes up by Rs4.26 per litre
ISLAMABAD: The federal government on Friday increased prices of petroleum, oil and lubricants, with petrol going up by Rs4.26 per litre. Similarly, the revised rates of kerosene oil and light diesel oil recorded a hike of RsRs1.69 and Rs1.68 per litre, respectively.
Stock market remained highly volatile last week
However, investors? interest revived in the last two sessions as the Economic Coordination Committee (ECC) approved a Rs20-billion support fund. State-owned mutual fund National Investment Trust (NIT) will manage the fund and inject it probably into state-owned listed companies including Oil and Gas Development Company, Pakistan Petroleum Limited, Pakistan State Oil and many more. Positive contribution to the index ...
CDWP clears 8 projects of Rs243 billion
ISLAMABAD?? -?? Central Development Working Party (CDWP) Friday approved four projects worth Rs 6.552 billion and recommended 04 projects worth Rs 237.178 billion to ECNEC for consideration. Central Development Working Party (CDWP), which met under the chairmanship of Federal Minister for Planning, Development & Reforms and Deputy Chairman Planning Commission Makhdum Khusro Bakhtyar, also approved China Pakistan Economic Corridor ...
China’s major Internet firms post faster revenue growth
Chinese firms in the Internet and related sectors, whose business revenue exceeded 5 million yuan (724,071 U.S. dollars) last year, raked in 324.6 billion yuan from January to April, up 20.2 percent year on year, according to the Ministry of Industry and Information Technology (MIIT).
FPCCI president for increasing intra-OIC trade
KARACHI?? -?? President Federation of Pakistan Chambers of Commerce and Industry (FPCCI), Engr Daroo Khan Achakzai has shown his serious concern on low level of trade among OIC countries and stressed on increasing intra-OIC trade. He underlined that the direction of trade is influenced by many factors including costs, market access, connectivity, quality, standards and competition, but if business ...
Weekly oil prices down sharply amid trade concerns
Houston Oil prices lost ground for the week ending May 31, with the price of West Texas Intermediate (WTI) for July delivery down 8.75 percent and Brent crude oil for July delivery down 6.11 percent, as investors were concerned about trade tensions between the United States and other countries. WTI closed the week at 53.5 U.S. dollars a barrel on ...
Wapda chairman visits Mohmand dam construction site
PESHAWAR ?? ? Chairman Wapda Lt Gen (r) Muzzamil Hussain Friday visited construction site of multifaceted Mohmand Dam, which is being constructed on the upstream of River Swat that will help generate 800MW electricity for the country.
Hafeez to hold parlay with business community for finalizing upcoming budget
ISLAMABAD, May 31 (APP):Advisor to Prime Minister on Finance Dr Abdul Hafeez Sheikh will visit Lahore on June 1 (Saturday) to discuss in detail matters of mutual interest with business community and seek final proposals regarding upcoming federal budget besides taking them in confidence in decision-making process for preparing national agenda for bringing about economic stability in ...
China sets up $724m fund to spur 5G development
?At present, 5G has become the driving force to boost China?s innovative and high-quality development,? Sui Zhenjiang, vice-mayor of Beijing, said on other day during a 5G industrial development and investment summit held in Yizhuang, in south-eastern Beijing.
Plastic exports increase by 30pc in first 10 months
The plastic exports from the country were recorded at $ 263.655 million during July-April (2018-19) against the exports of $202.527 million during July-April (2017-18), showing growth of 30.18 percent, according to Pakistan Bureau of Statistics.
China says trade war ‘has not made America great again’
Washington?s escalating trade war with Beijing has not ?made America great again? and has instead damaged the American economy, China said Sunday, warning that while it wants resolution through talks there will be no compromise on core principles. With trade talks stalled, the dispute has intensified in recent weeks with US President Donald Trump imposing fresh tariffs on imports ...
‘Made in Pakistan’ move to prove instrumental in squeezing imports
He said, ?Figures show that under the PTI regime, Pakistan has paid off the biggest amount related to debt servicing ever in the history of this country.? Talking to this scribe, Islamabad based Journalist dealing with economy, Shams Abbasi said that the government was determined to bring investor-friendly reforms in ?Ease of Doing Business? and evolve agriculture and industrial policies ...
FPCCI to host BoD meeting of ICCI
ISLAMABAD, May 31 (APP):Federation Pakistan Chamber of Commerce and Industry (FPCCI) will be hosting 29th BoD meeting of Islamic Chamber of Commerce and Industry (ICCI) in Karachi in mid November 2019 after 25 years. The BoD meeting,would be attended by senior office bearers and representatives of 53 member countries including 20 board of directors of Islamic Chamber of Commerce and Industry ...
Gold price up by Rs300 per tola
ISLAMABAD - The price of 24 karat gold increased by Rs 300 on Friday and traded at Rs 70,000 per tola as compared to the last closing at Rs 69,700. According to Karachi Sarafa Association, the price of 10 gram gold also witnessed an increase of Rs 259 and traded at Rs 60014 against Rs 59,741 of last day. The ...
