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Pakistan » Business & Economy

IMF deposits $1.2bn in SBP: Ishaq Dar
Forex

IMF deposits $1.2bn in SBP: Ishaq Dar

  • During the week, Pakistan has received $4.2bn from different avenues including Saudi Arabia, UAE, and the Washington-based lender
  • SBA with IMF will now see two more reviews - in November and February
Updated 13 Jul, 2023 06:02pm
IMF announces staff-level agreement with Pakistan
Business & Economy

IMF announces staff-level agreement with Pakistan

  • Subject to Board approval, about $1.177bn will become available
  • IMF says Pakistan plans to undertake comprehensive review of anti-corruption institutions (including the National Accountability Bureau) to enhance effectiveness in investigating and prosecuting corruption cases
Updated 14 Jul, 2022 10:13am
Watch: PM Shehbaz Sharif's entire address on 10% super tax on large industries
Business & Economy

Watch: PM Shehbaz Sharif's entire address on 10% super tax on large industries

  • We intend to tax high income earners so that the entire nation can reap the benefit through education, health, infrastructure, skills education and IT uplift, he says
  • Tax will be applicable on cement, steel, sugar, oil and gas, fertiliser, LNG, textile, banks, automobile, beverages, chemicals, tobacco and airlines
  • Collection from this tax will be used to alleviate poverty in Pakistan
Updated 24 Jun, 2022 02:53pm
SPI up 1.42pc WoW
Business & Economy

SPI up 1.42pc WoW

ISLAMABAD: The Sensitive Price Indicator (SPI) for the week ended May 19, 2022 recorded an increase of 1.42 percent...
Published 21 May, 2022 04:34am
FIA Registers multi-billion Rupees fraud case against Bhojanis
Business & Economy

FIA Registers multi-billion Rupees fraud case against Bhojanis

The case has been registered at the Judicial Magistrate South-1 Karachi under Section 154 Code of Criminal Procedure. The case has been registered after a complaint was filed by Syed Tahir of Pak China Fertilizers Limited against Rafiq Bhojani and three others regarding illegal transfer of shares of M/s Pak China Fertilizers by fraudulent manner through electronic means by using fake electronic data, according to the FIA report.
Published 02 Jun, 2021 12:47pm
Sindh Police Conducts 3 Raids to Arrest Rafiq Bhojani in Fraud Case
Business & Economy

Sindh Police Conducts 3 Raids to Arrest Rafiq Bhojani in Fraud Case

The enquiry by the Secretary of the company started after receiving an alarming letter from shareholder of Pak China Fertilizer, National Fertilizer Corporation of Government of Pakistan, who hold 1,880,000 shares of Pak China Fertilizers Limited. In the letter addressed to the Company Secretary, NFC requested Company Secretary to reply and check on discrepancies in annual returns of company filing.
Published 08 May, 2021 10:20pm
SBP hopes to boost investment in Pakistan: Raza Baqir
Financial

SBP hopes to boost investment in Pakistan: Raza Baqir

  • As the third wave continues to disrupt economies worldwide, Pakistan’s economy has a lot going on in its favour this time, according to the Dr. Raza Baqir, Governor of the State Bank of Pakistan (SBP) in an online session with Nest I/O.
  • Dr. Raza Baqir explained how the country’s demographic profile, growing mobile penetration rate, and positive economic indicators, especially during the COVID-19 pandemic, have contributed to an increase in investments.
Published 01 May, 2021 10:34am
Service Global Footwear Ltd. planning IPO to raise $10 million for joint investment
Business & Economy

Service Global Footwear Ltd. planning IPO to raise $10 million for joint investment

  • Pakistan's largest shoe exporter, Service Global Footwear Ltd., has planned an initial public offering (IPO) to raise funds from the domestic market to invest in the parent company's tire joint-venture.
  • Service Global Footwear plans to use the IPO proceeds to buy about 20% stake in a joint venture set up by Service Industries and China’s Chaoyang Long March Tyre Co.
Updated 17 Mar, 2021 02:44pm
Punjab to continue business activities
Business & Economy

Punjab to continue business activities

Keeping in view the economic problems of the people, the Punjab government has decided to keep open and continue economy-based business activities in the province to protect people from the economic crunch.
Published 31 May, 2020 12:04am
SCA demands immediate anti-locust spray
Business & Economy

SCA demands immediate anti-locust spray

The Sindh Chamber of Agriculture (SCA) president Syed Miran Muhammad Shah, general secretary Zahid Bhurgari, vice president Nabi Bux and others have demanded the Sindh and federal governments to launch a fumigation drive through aircrafts against the locu
Published 31 May, 2020 12:04am
Activities of Karachi Port and Port Qasim
Business & Economy

Activities of Karachi Port and Port Qasim

The Karachi Port handled 119,476 tonnes of cargo comprising 102,138 tonnes of import cargo and 17,338 tonnes of export cargo including 3,011 loaded and empty containers during the last 24 hours ending at 0700 hours on Friday.
Published 30 May, 2020 12:06am
Powerloom industries facing crisis
Business & Economy

Powerloom industries facing crisis

Powerloom Industries, which was main livelihood of Faisalabad, has now been, reached to the edge of disaster due to severest ever liquidity crisis in the history of Pakistan, while a portion of small Power Looms of in size 56 inches had been sold out in K
Published 30 May, 2020 12:06am
PSDP 2019-2020: Government releases Rs 583.3 billion
Business & Economy

PSDP 2019-2020: Government releases Rs 583.3 billion

The federal government has released Rs 583.3 billion (83.21 percent) including Rs 121.24 billion foreign aid (94.5 percent) for various ongoing and new development projects under the Public-Sector Development Programme (PSDP) 2019-2020 against the total b
Published 30 May, 2020 12:06am
KP business community demands ending of lockdown
Business & Economy

KP business community demands ending of lockdown

The business community in Khyber Pakhtunkhwa here on Friday demanded ending of the lockdown and allowing of businesses to remain open 24/7 across the province. The demand was made during a video link meeting held here under the chairmanship of the SCCI pr
Published 30 May, 2020 12:06am
Activities of Karachi Port
Business & Economy

Activities of Karachi Port

The Karachi Port handled 48,298 tonnes of cargo comprising 32,938 tonnes of import cargo and 15,360 tonnes of export cargo including 1,970 loaded and empty containers during the last 24 hours ending at 0700 hours on Thursday.
Published 29 May, 2020 12:05am
NKIDMC CEO concerned over violation of SOPs
Business & Economy

NKIDMC CEO concerned over violation of SOPs

Chief Executive Officer of North Karachi Industrial Development & Management Company (NKIDMC), Sadiq Muhammad, expressed deep concern over non-compliance of social distance and violation of SOPs by the public in the presence of deadly disease of coronavir
Published 28 May, 2020 12:03am
Fate of KPT chief tied to audit of stores, hospitals
Business & Economy

Fate of KPT chief tied to audit of stores, hospitals

The Federal Cabinet has reportedly linked action against Chairman KPT with the outcome of special audit of KPT stores and hospitals to be conducted by an audit firm selected through competitive tendering process, well-informed sources told Business Rec
Published 27 May, 2020 12:06am
FPCCI calls for making Azakhel Dry Port operational
Business & Economy

FPCCI calls for making Azakhel Dry Port operational

The Federation of Pakistan Chambers of Commerce and Industry (FPCCI) has called for making the Azakhel Dry Port operational, increasing the number of railway bogies and allowing of the use of loose cargo for transportation of the Afghan transit trade good
Published 27 May, 2020 12:06am
Activities of Karachi Port
Business & Economy

Activities of Karachi Port

The Karachi Port handled 136,123 tonnes of cargo comprising 75,760 tonnes of import cargo and 60,363 tonnes of export cargo including 5,613 loaded and empty containers during the last 24 hours ending at 0700 hours on Thursday.
Published 22 May, 2020 12:03am
Revival of 'No Tax No Refund' regime demanded
Business & Economy

Revival of 'No Tax No Refund' regime demanded

Former president of KCCI and patron of SITE Association of Industry Zubair Motiwala has drawn the attention of the federal government towards the difficulties being faced due to inability of fully automated sales tax refund system (FASTER) by five zero-ra
Published 22 May, 2020 12:03am
CM discusses Punjab budget, ADP
Business & Economy

CM discusses Punjab budget, ADP

Chief Minister Punjab Sardar Usman Buzdar here Thursday chaired a meeting about the provincial budget and annual development programme for the financial year 2020-21. Chairman P&D and Secretary Finance briefed the participants about the upcoming budget an
Published 22 May, 2020 12:03am
LCCI announces Eid holidays
Business & Economy

LCCI announces Eid holidays

The Lahore Chamber of Commerce & Industry will remain closed from May 22 to 27 in connection with Eid-ul-Fitr. However, the Chamber working would be resumed on May 28 after holidays as usual.
Published 22 May, 2020 12:03am
Activities of Karachi Port and Port Qasim
Business & Economy

Activities of Karachi Port and Port Qasim

The Karachi Port handled 131,933 tonnes of cargo comprising 90,059 tonnes of import cargo and 41,874 tonnes of export cargo including 5,281 loaded and empty containers during the last 24 hours ending at 0700 hours on Wednesday.
Published 21 May, 2020 12:09am
PIA, Reliance Petrochem Industries sign MoU
Business & Economy

PIA, Reliance Petrochem Industries sign MoU

Pakistan International Airlines (PIA) signed a Memorandum of Understanding (MoU) with Reliance Petrochem Industries Private Limited manufactures of "Reliance Handtizer" and "Reliance Surface Sanitizers"; these products will be used by PIA on board its fig
Published 20 May, 2020 12:05am
Shell Pakistan launches its flagship store on daraz.pk
Business & Economy

Shell Pakistan launches its flagship store on daraz.pk

Shell Pakistan has partnered with daraz.pk to provide a safe and convenient online shopping experience for its customers purchasing vehicle lubricants. Shell's wide range of high quality lubricants will now be available on Pakistan's most popular online s
Published 20 May, 2020 12:05am
Activities of Karachi Port and Port Qasim
Business & Economy

Activities of Karachi Port and Port Qasim

The Karachi Port handled 70,950 tonnes of cargo comprising 47,946 tonnes of import cargo and 23,004 tonnes of export cargo including 2,641 loaded and empty containers during the last 24 hours ending at 0700 hours on Tuesday.
Published 20 May, 2020 12:05am
Daraz, HBL enter deal to fuel growth in SME sector
Business & Economy

Daraz, HBL enter deal to fuel growth in SME sector

Daraz and HBL have signed a strategic partnership agreement to enable the growth of Small and Medium Enterprises (SMEs) by inviting SMEs to set up online shops on Daraz, and avail HBL's extensive banking solutions to meet their financial needs. HBL is Pak
Published 20 May, 2020 12:05am