The Punjab Provincial Development Working Party (PPDWP) here on Friday approved 'Punjab Rozgaar Scheme' and allocated a sum of Rs 9500 million to the Punjab Small Industries Corporation (PSIC) as implementing agency.

The World Bank (WB) on Friday signed the financing agreement worth $200 million with Pakistan for the COVID-19 pandemic response. Dr Syed Pervaiz Abbas, federal secretary of the Economic Affairs Division signed the financing agreement on behalf of the Gov

Prime Minister's Advisor on Commerce, Industries and Production and Investment, Abdul Razak Dawood said on Friday that Pakistan's export are expected to decline up to $4 billion due to spread of Covid-19 across the world.

An increase in inflation rate for Pakistan to 11.5 percent and a further downward revision of GDP growth rate to 2.6 percent for 2020 has been projected by Asian Development Bank attributed to a rise in food prices, with planned utility price hikes taking

Global cases of the new coronavirus have shot past 1 million with more than 53,000 fatalities, a Reuters tally showed on Friday, as death tolls soared in the United States and western Europe while the world economy nosedived. In the space of just 24 hours

Prime Minister Imran Khan has announced tax incentives for the construction sector, saying that this construction sector is being given the "status of industry". Moreover, its related industries would reopen from April 14 to provide employments to people.

Pakistan Stock Exchange Friday ended on a strong positive note on the back of aggressive buying by local investors and institutions.

Deep output cuts by OPEC and other oil producing nations will not prevent a huge build up of crude, the head of the IEA said on Friday, urging the world's richest economies to discuss broader ways to stabilise oil markets.

The State Bank of Pakistan (SBP) has announced to extend the scope of financial relief package to borrowers availing loans under Refinance Schemes. Now, the borrowers of SBP's refinance schemes will be allowed for deferment in repayment of principal amoun

The Finance Ministry has stated that the government has released Rs100 billion to industry under tax refunds on Thursday (April 2) under the government's Rs1,240 billion stimulus package announced by the prime minister on March 27, said a press release is

The federal government has released Rs467.24 billion (66.65 per cent) including Rs92.74 billion foreign aid (72.3 percent) for various ongoing and new development projects under the Public Sector Development Programme (PSDP) 2019-20 against the total budg

Fearing lower tax and non-tax revenue and higher expenditure due to coronavirus spread across the country, Finance Division has decided to raise over Rs 700 billion through issuance of Ijarah Sukuk through a consortium of Islamic banks by pledging the ass

Prime Minister Imran Khan visited the National Command and Operation Centre (NCOC) for the COVID-19 disease in Islamabad Friday, said a press release issued on Friday.

The World Bank (WB) has revised the real GDP growth projection massively for Pakistan to 1.1 percent from an earlier projection of 2.4 percent for 2020 and 0.9 percent for 2021 from the earlier three percent on account of steep decline in economic activit

Irish aircraft leasing company Avolon said Friday it was canceling an order for 75 737 MAX planes due to the massive deterioration in travel because of COVID-19.

Adviser to the Prime Minister on Finance Dr Abdul Hafeez Shaikh Friday said that Rs1,200 billion relief package announced by Prime Minister Imran Khan to lessen the impact of coronavirus will also benefit the middle class.

Adviser to the Prime Minister on Finance, Dr Abdul Hafeez Shaikh Friday chaired a meeting to devise the modalities for the implementation of the fiscal stimulus package, and directed to make the best use of their abilities for providing relief to the wors

Sindh Chief Minister Syed Murad Ali Shah has said that during the last 18 days, 87 percent rise has been recorded in the coronavirus cases. "This is alarming, and the pandemic needs more focused and collective efforts to control it."

Saudi Arabia's King Salman has ordered up to 9 billion riyals ($2.4 billion) to be disbursed to pay part of the wages of private-sector workers to deter companies from laying off staff, the state-run Saudi Press Agency reported on Friday.

A man on Friday set himself on fire outside the Prime Minister's House and later died of burn injuries at the Pakistan Institute of Medical Sciences (PIMS).

Employers Federation of Pakistan (EFP), the apex body of manufacturers of Pakistan and a constituent of International Labour Organisation (ILO), is deeply concerned with the economic and social consequences of the outbreak of COVID-19 that has deeply impa

A Norwegian court has sentenced a man to 75 days in prison for threatening to spit on a police officer while saying he had the coronavirus, police said Friday.

Sindh Government will file an appeal in Supreme Court (SC) against the judgment of Sindh High Court (SHC) in the Daniel Pearl case. SHC had acquitted three suspects of being involved in the kidnapping and murder of American journalist in 2002 and overturn

To ensure recovery from tax defaulters, the Federal Board of Revenue (FBR) has empowered Inland Revenue (IR) officials to recover tax from defaulters from money held in term deposits or pay orders, etc, which are due at a later stage.

The State Bank of Pakistan (SBP) has extended the timeline for implementation of International Financial Reporting Standard 9 (IFRS 9). According to SBP, keeping in view the prevalent COVID-19 (Corona Virus Disease 2019) pandemic situation, it has been de

Police said that two of its personnel were beaten by some angry people in Liaqatabad when the law-enforcers tried to stop them from going to a mosque to offer Friday prayers in congregation.

This is apropos a Business Recorder op-ed "Covid-19 pandemic, leadership & apathy" carried by the newspaper yesterday. The writers, Huzaima Bukhari and Dr Ikramul Haq, have extensively cited China's example in order to advance their argument. But t

Inditex has switched its clothes factories in Spain over to making medical supplies and its logistics hub has almost ground to a halt, effectively freezing the nerve centre of its business from which it supplies stores worldwide.

US politicians have voiced fury over Beijing's handling of the coronavirus crisis but they face a harsh truth - the United States desperately needs China's supplies.

That the country is on economic roller coaster is perhaps an understatement.

Coronavirus has severely impacted the human lives and the economies the world over in a profound manner. The trauma of loss of human lives will be followed by loss of jobs, food shortages and depleted health facilities - just to name a few of them.

18 years on, the gruesome murder of Wall Street Journal correspondent Daniel Pearl remains engulfed in mystery. The Sindh High Court (SHC) on Thursday overturned the life sentence, awarded to three accused by a trial court on charges of kidnap and murder,

With an end to the coronavirus pandemic still nowhere in sight it was only a matter of time, really, before concerns about food shortage started doing the rounds. The United Nations' Food and Agriculture Organisation (FAO) warned just last week that prote

Asad Umar, the Minister for Planning and Development, whose relevance within Prime Minister Imran Khan's Cabinet has further strengthened as the administration struggles to meet the ever-rising challenges as a consequence of the onslaught of the pandemic

In the wake of increase in coronavirus positive cases the Islamabad Capital Territory (ICT) Administration has decided to conduct disinfection spray in the entire city to control the spread of the COVID-19.

Pakistan Tehreek-e-Insaf government is set to distribute Rs 200 billion among the deserving population across the country through three different programmes but procedural anomalies coupled with bureaucratic hitches related to the registration of those in

The China Gezhouba Group Company Pakistan Head Shi Yu called on Chief Minister Khyber Pakhtunkhwa, Mahmood Khan here on Friday and announced donation of 60000 protective masks and 1000 3M brand protective suits as a gesture of good well. KP chief minister

While welcoming the construction industry's package announced by the Prime Minister, Pakistan Association of Large Steel Producers (PALSP) has stated that genuine concerns of the steel industry also need to be deliberated in order to bolster the construct

Chairman Association of Builders and Developers of Pakistan (ABAD) Mohsin Sheikhani has termed the tax incentives announced by Prime Minister Imran Khan as a historic package for the construction industry of Pakistan and this package will prove a turning

The Employers' Federation of Pakistan (EFP) has requested the government that every factory, industrial and commercial establishment should be allowed to establish an "emergency fund" to be used by enterprises for payment of workers' wages, which may meet

Pakistan army is taking the lead role in response to the Covid-19 pandemic by taking control of the top implementation body - National Command and Operation Centre (NCOC) - accompanied by deployment of troops across the country in aid of civil power under

Federal Minister for Science and Technology Fawad Chaudhry has listed all sanitizer-making companies that do not comply with the standards of the World Health Organization (WHO).

The Board of Investment (BoI) has initiated consultation process for development of a national framework for the Special Economic Zones (SEZs) development, including a policy for private zones, single enterprise zones, conversion of existing industrial es

The Islamabad High Court (IHC) on Friday turned down a petition against the National Disaster Management Authority (NDMA)'s orders to convert hotels into quarantine facilities for treating coronavirus patients.

With a view to ensure smooth running of business operations of export-oriented industry and to bring them at par with the units operating in KPK and Sindh, the All Pakistan Textile Mills Association (APTMA) has requested the Punjab government to exempt te

The Supreme Court on Friday allowed the Khyber-Pakhtunkhwa government to recruit people in Grade-11 and above post through the Public Service Commission (PSC). A two-judge bench, headed by Chief Justice Gulzar Ahmed, heard the petitions of various employe

Stamp duty contributes more than any other tax category in Rs18 billion tax relief announced by the government of Punjab. According to the official documents available with Business Recorder, the rate of stamp duty has been slashed heavily; incurring an i

As expected Coronavirus had its impact on domestic consumption of cement also that declined by 16.70 per cent in March while the exports grew at 5.27 per cent as the global markets are equally under pressure due to the same reason.

As many as 17069 coronavirus tests were conducted across the province of Punjab out of whom 920 were tested positive, the Punjab health minister Dr Yasmin Rashid, said.

Directorate of Customs Intelligence, Karachi in co-ordination with Naval Intelligence, Pakistan Navy claimed to have seized an unprecedented quantity of crystal meth (ICE) 100 kilograms worth Rs 1.6 billion approx in the international market.

North Karachi Association of Trade and Industry (NKATI) President Muhammad Nasim Akhtar has said that the members of the association have refused to pay ad-hoc bills on average billing and demanded of K-Electric to generate the bills according to the unit

Sindh Chief Minister Syed Murad Ali Shah has directed all the district hospitals to give their extra ventilators and other equipment to the tertiary care hospitals so that the serious patients of the coronavirus could be shifted and treated there.

The Afghan government has requested Pakistan to allow the Afghan transit cargo to cross into Afghanistan under standard fumigation procedure to maintain the supply chain of medicines, foods and other basic goods for the people of Afghanistan.

The spokesperson of the Ministry of Water Recourses while contradicting the news item titled "Diamer-Basha Dam; Evaluation report contrary to PPRA, PEC Rules" published in daily Business Recorder on March 24, 2020, has clarified that the news story

Pakistan Telecommunication Company Limited (PTCL) has signed a Memorandum of Understanding (MoU) with Gulberg Greens Islamabad for provision of Information Communication Technology (ICT) services and infrastructure in the society.

Chairman, Pakistan Chemicals & Dyes Merchants Association (PCDMA) and former director, Karachi Stock Exchange, Amin Yusuf Balgamwala has said that coronavirus epidemic had affected not only people but trade & industry also very badly, while business is on

The ruling Pakistan Tehreek-e-Insaf (PTI) on Friday took stock of government's decisions taken to cope up with the current situation in the wake of the coronavirus outbreak and reviewed progress on their implementation.

President Karachi Chamber of Commerce & Industry (KCCI) Agha Shahab Ahmed Khan has urged the federal government to permanently withdraw Industrial Support Package Adjustment (ISPA) arrears which would provide some relief to the industries particularly in

Provincial revenue authorities should also grant payment and return filing extension in line with the Federal Board of Revenue (FBR).

"There is nothing that can bring out inefficiencies and lack of preparedness as a natural disaster."

Business activity in the 19-nation eurozone suffered a record fall in March and hit an historic low, according to the PMI index published on Friday by analysts IHS Markit. The IHS index for the month was 29.7 - down from Markit's first estimate for March

The European Commission announced on Friday that it would temporarily waive customs duties and VAT on imports of sorely-needed medical equipment to help in the fight against the coronavirus.

Berlin is enlisting German multinationals and their networks of contacts abroad, especially in China, to secure protective clothing and equipment in the fight against the coronavirus, the health ministry said Friday.

The financial rating agency Standard and Poor's confirmed on Thursday the AA+ rating for the United States' long-term debt despite the recent passage of a historic $2 trillion aid package to combat the novel coronavirus.

German Finance Minister Olaf Scholz said Friday the European Union should activate the European Stability Mechanism (ESM) bailout fund "with no senseless conditions" to support states whose economies are hit the hardest by the coronavirus crisis.

China's central bank said Friday it would cut the reserve requirements for smaller banks to release around 400 billion yuan ($56.3 billion) in liquidity, a move to counter the coronavirus impact on enterprises.

The US economy shed 701,000 jobs in March, abruptly ending a historic 113 straight months of employment growth as stringent measures to control the novel coronavirus outbreak shuttered businesses and factories, confirming a recession is underway.

The European Union on Friday welcomed a US plan for a transitional government in Venezuela and subsequent lifting of economic sanctions.

Italy was engaged in a war of words with Russia on Friday over allegations Moscow hid spies among doctors it had sent to the country's coronavirus epicentre near Milan.

Bill Withers, the legendary performer who defined 1970s soul with hits like "Ain't No Sunshine" and "Lean on Me" has died following heart complications, his family said in a statement. He was 81 years old.

The WHO and IMF chiefs insisted Friday that saving lives was a "prerequisite" to saving livelihoods in the coronavirus pandemic - a crisis they called "one of humanity's darkest hours".

Prague authorities on Friday said they had removed a controversial Soviet-era statue, despite protests from Moscow, to make way for a World War II memorial. The Russian embassy on Friday protested the removal of the bronze statue of Soviet general Ivan Ko

Google says it will publish users' location data around the world from Friday to allow governments to gauge the effectiveness of social distancing measures, brought in to stem the COVID-19 pandemic.

Cars are back on city streets and shoppers are strolling in malls again as life slowly returns to Wuhan. But the cradle of the global coronavirus pandemic remains under the shadow of the contagion. The city of 11 million people - along with tens of millio

German Chancellor Angela Merkel left her Berlin home for the first time in almost two weeks on Friday, after she was forced into quarantine following contact with a COVID-19-infected doctor.

A drive-through coronavirus screening centre in the UAE capital Abu Dhabi has become a go-to destination for many wanting reassurance during the pandemic. The facility, believed to be the first of its kind in the Gulf, greets around 600 people a day in th

Deaths from the global coronavirus epidemic accelerated again on Friday as the US, Spain and Britain grappled with their highest tolls yet and the world economy took a massive hit.

Chicago Board of Trade corn futures ended mixed on Thursday as early spillover support from a sharply higher crude oil market faded on continued worries about grain demand amid the coronavirus pandemic, traders said.

Chicago Board of Trade soyabean futures ended mixed on Thursday as sinking soyameal prices dragged down nearby contracts, reversing early gains fueled by strong soyabean export sales and sharply higher crude oil prices, traders said.

Ukraine's grain exports reached a record 46 million tonnes in the first nine months of the 2019/20 season versus 37.6 million shipped in the same period a season earlier, the Ministry for Development of Economy, Trade and Agriculture said on Thursday.

The Karachi Port handled 121,654 tonnes of cargo comprising 95,016 tonnes of import cargo and 26,638 tonnes of export cargo including 7,241 loaded and empty containers during the last 24 hours ending at 0700 hours on Friday.

Trading activity remained suspended on the cotton market owing to fight against the spread of coronavirus, dealers informed on phone on Friday. The official spot rate was unchanged at Rs8800, dealers said.

On Thursday at Pakistan Mercantile Exchange Limited, PMEX Commodity Index closed at 3,583. The traded value of metals, energy and COTS/FX was recorded at PKR 8.415 billion and the number of lots traded was 24,607.

Steel futures in China closed higher on Thursday after falling more than 3% in early trade on demand concerns due to the fast-spreading coronavirus pandemic.

Crude futures surged for a second day on Friday, with benchmark Brent up 10% on hopes that a global deal to cut crude supply worldwide will emerge early next week.

The Australian and New Zealand dollars were heading for a weekly loss on Friday as the economic damage wrought globally by the coronavirus kept risk assets under pressure, while bond yields held near record lows despite massive borrowing plans.

Sterling sank on Friday after data showed a record slump among Britain's services and manufacturing firms in late March as businesses and households paused activity to try to prevent the spread of the coronavirus.

The dollar resumed its climb against major currencies on Friday as investors took refuge in safety bids amid worsening economic fallout from the coronavirus pandemic.

Most Asian currencies fell on Friday and were on course to record weekly losses, as investors latched on to the safety of the US dollar due to the worsening economic impact from the coronavirus pandemic. The South Korean won and Singapore dollar dipped 0.

The dollar resumed its climb against major currencies on Friday as investors took refuge in safety bids amid worsening economic fallout from the coronavirus pandemic.

All timings are in PST (Pakistan Standard Time).

The weather report on Friday (April 3, 2020) and the forecast for Saturday (April 4, 2020).

The following were Thursday official prices.

Official KCA spot rates for local dealings in Pakistan rupees on Friday (April 3, 2020).

Grain and other commodity rates in rupees on Akbari Mandi on Friday (April 3, 2020)

Pakistan Mercantile Exchange - PMEX (Formerly National Commodity Exchange Limited - NCEL) Trading Summary on Friday (April 3, 2020).

Karachi Shipping Intelligence report incorporating changes till 7 am on Friday (April 3, 2020).

The dollar gained slightly against the rupee on the inter-bank market on Friday in the process of trading activity, marketmen said.

The following were the revised rates of debt securities on Friday (April 3, 2020).

The following were the cross transactions between client to client & financial institutions here on Friday (April 3, 2020).