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Gold imports up by 128pc to $10m in 1HFY22

ISLAMABAD: The gold imports increased by 128.27 percent during the first half of the current fiscal year as compared to the corresponding period of last year, Pakistan Bureau of Statistics (PBS) reported. The gold imports during July-December (2021-22) were recorded at $10.003 million as compared to the imports of $4.382 million during July-December (2020-21), according to the data. In terms ... Read More »

Pakistan thanks Qatar for timely LNG supplies despite shortage globally

ISLAMABAD: Pakistan thanked Qatar for ensuring timely supplies of the Liquefied Natural Gas (LNG) to it despite the commodity’s shortage in the international market. Minister for Energy Hammad Azhar expressed the gratitude during a virtual meeting with Qatar’s Minister/Chief Executive for Energy Saad Sherida al-Kaabi, a news release said. During the video conference, the two sides also discussed ways and ... Read More »

Textile exports increase by 26.05pc to $9.381b in 1st half of FY2022

ISLAMABAD: The exports of textile commodities surged by 26.05 percent during the first half of the current fiscal year (2021-22) as compared to the corresponding period of last year, Pakistan Bureau of Statistics (PBS) reported. The textile exports were recorded at $9381.300 million in July-December (2021-22) against the exports of $7442.415 million in July- December (2020-21), showing growth of 26.05 ... Read More »

‘Trade Diversification Policy’ boost country’s exports in non- traditional markets: Razak Dawood

ISLAMABAD: Adviser to the Prime Minister on Commerce and Investment, Abdul Razak Dawood on Sunday said the government has fully implemented the trade diversification policy and is currently seeing an increase in Pakistan’s product and geographical exports in the global market. The main objective of the government’s Trade Diversification Policy’ is to introduce new trade products of a country’s exports ... Read More »

Pakistan’s weekly inflation hits 19.82pc

ISLAMABAD: The Sensitive Price Indicator (SPI) based weekly inflation for the week ended on January 13, for the combined consumption group, witnessed decrease of 0.43 percent as compared to the previous week, Pakistan Bureau of Statistics (PBS) reported Friday. The SPI for the week under review in the above mentioned group was recorded at 167.39 points against 168.12 points registered ... Read More »

Sale, production of cars up by over 71pc in 1st half of FY22

ISLAMABAD: The sale and production of cars witnessed an increase of 71.22 and 72.85 percent respectively during the first half of current financial year 2021-22 as compared to corresponding period of last year. During the July-December 2021-22, as many as 114,765 cars were sold against the sale of 67,026 units while the production of cars increased from 62,041 units to ... Read More »

Fuel charges adjustment: NEPRA approves tariff hike of Rs4.30 per unit

ISLAMABAD: The National Electric Power Regulatory Authority (NEPRA) on Thursday increased power tariff by Rs4.30 per unit on account of fuel cost adjustment (FCA) for November 2021. According to a notification issued in this regard, the FCA for November 2021 will be charged with the bill of January 2022, which will be paid by all consumer categories of distribution companies, ... Read More »

NPMC satisfied over flour price stability

ISLAMABAD: The National Price Monitoring Committee (NPMC) expressed satisfaction over the wheat flour prices’ stability and availability of sufficient stocks of the commodity in the country. The NPMC, the meeting of which was presided over by Federal Minister for Finance and Revenue, Shaukat Tarin, however expressed expressed concerns on the slight increase in sugar prices in various cities owing to ... Read More »

Pakistan Railways launches Pakistan’s first ever ‘Reefer Freight Train’

LAHORE: As a major breakthrough in national logistics & cargo infrastructure, Pakistan Railways successfully launches country’s first ever Reefer Freight Train aiming to provide more economical and environment friendly freight solutions. According to details, Marine Group of Companies in collaboration with Pakistan Railways achieved the milestone by operating Pakistan’s first ever containerized refrigerated train in Dec 2021 which departed from ... Read More »

IT sector contributes US $ 3.5 bln to national economy: Amin Ul Haque

ISLAMABAD: Minister for Information Technology and Telecommunication Syed Amin Ul Haque has said that the Information Technology exports witnessed robust growth, contributing US $ 3.5 billion to the national economy, equivalent to 1% of the country’s Gross Domestic Products (GDP). “During the outgoing financial year, an increase was observed not only in the yield of major crops but also in ... Read More »

Dr. Sania opens Ehsaas Nashonuma Center in Khanewal

MULTAN: Special Assistant to the Prime Minister on Poverty Alleviation and Social Protection, Senator Dr. Sania Nishtar opened the Ehsaas Nashonuma Center at the District Headquarter Hospital Khanewal. Four Ehsaas Nashonuma Centers are functional in Jahanian, Khanewal, Kabirwala and Mian Channu Tehsils of Khanewal. Currently, Ehsaas Nashonuma Centers are operational in two districts of South Punjab: Khanewal and Rajanpur. “In ... Read More »

WB country director congrats Ehsaas on successful completion of South Asia’s first digital survey

ISLAMABAD: The World Bank (WB) Country Director Najy Benhassine congratulated Ehsaas on the successful completion of South Asia’s first digital National Socio Economic Registry (NSER) survey. He was speaking at the launching ceremony of the NSER survey chaired by Special Assistant to the Prime Minister on Poverty Alleviation and Social Protection, Senator Dr Sania Nishtar. Speaking on the occasion, the ... Read More »

Forex reserves fall $169m to wind up at $17.69b

KARACHI: Foreign exchange reserves held by the State Bank of Pakistan (SBP) decreased $169 million on a weekly basis, clocking in at $17.69 billion, according to data released by the central bank on Thursday. It may be mentioned that forex reserves held by the SBP last week had decreased by $298 million due to external debt repayment. Total liquid foreign ... Read More »

Govt prepares draft of 5G policy

ISLAMABAD: The Ministry of Information Technology and Telecommunication (MoIT&T) has prepared a policy framework for rolling out 5G in the country in 2023. According to sources, the Pakistan Telecommunication Authority (PTA) will appoint consultants for the auction process after the policy is issued. Recommendations by these consultants will be forwarded to the federal government by December 2022 as the ministry ... Read More »

Putting youth in business: SMEDA conducts 54 training programs in 6 months

ISLAMABAD: Small and Medium Enterprises Development Authority (SMEDA) has arranged 54 trainings, seminars and webinars during the last six month (July-December) this year to provide invaluable skills to young entrepreneurs, especially women seeking economic empowerment. These training sessions, usually one-day events, covered wide range of entrepreneurial aspects including, `Financial Management for SMEs`, “Social Media Marketing” “Selling on Amazon from Pakistan” ... Read More »

Economy 2021: The highs and the lows for Pakistan

ISLAMABAD: The year 2021 proved to be disruptive for the economy of Pakistan like previous years. The ruling Pakistan Tehreek-e-Insaf (PTI) failed to control the deteriorating situation in the country even in the third year of its rule. If we look at the economic statistics, we can see that everything – from inflation to total national debt, total import bill ... Read More »

NEPRA likely to approve Rs5.50 per unit tariff hike for KE consumers

ISLAMABAD: The National Electric Power Regulatory Authority (NEPRA) on Monday will conduct a hearing regarding the FCA request filed by K-Electric (KE) wherein it has sought a Rs5.50/per unit hike in the electricity price. According to the details, the authority will take up proposed adjustment request of KE regarding monthly fuel charges adjustment (FCA) for the month of November 2021 ... Read More »

Pakistan rings in the new year with Rs4 hike in petrol price

ISLAMABAD: Government of Pakistan (GOP) on Friday announced to hike petrol prices by Rs4 ahead of New Year 2022. According to the Finance Ministry, the petrol will be sold at a price of Rs144.82 per litre. On the other hand, the price of diesel has also been raised by Rs4 after which it will be sold at the rate of ... Read More »

Pakistan, China vows to tap full potential of Gwadar port, free zone under CPEC

ISLAMABAD: Pakistan and China resolved to redouble the efforts to tap the full potential of Gwadar port and free zone under the mega project of China Pakistan Economic Corridor (CPEC). The both sides also agreed to make sure that the local population of Gwadar and surrounding areas fully benefit from these projects by utilizing the massive opportunities being created in ... Read More »

Tarin directs provinces to keep a check on sugar prices

ISLAMABAD: Federal Minister for Finance and Revenue Shaukat Tarin has directed the provincial authorities to take appropriate measures to control sugar price in the local markets. Presiding over the meeting of the National Price Monitoring Committee (NPMC), the finance minister expressed concerns over the rise in commodity prices. During the meeting, the economic adviser briefed the meeting about the weekly ... Read More »