Govt committed for reforms, address structural economic issues: Tarin
ISLAMABAD: The government is committed to introduce reforms in various sectors, in the face of various challenges, to address the long outstanding structural issues and to attain sustainable and inclusive growth. –HAMZA HABIB
ECC approves gas allocation from Mitha, Bitro fields to SSGC
ISLAMABAD: The Economic Coordination Committee (ECC) of the Cabinet approved the summary presented by the Ministry of Energy (Petroleum Division) for allocation of gas under commercial production from the United Energy Pakistan’s fields to the Sui Southern Gas Company. –HAMZA HABIB
Gilgit-Baltistan chief minister seeks funds for socioeconomic uplift
ISLAMABAD: Gilgit-Baltistan Chief Minister Advocate Khalid Khursheed Khan called on Federal Minister for Economic Affairs Omar Ayub Khan at the Ministry of Economic Affairs and sought funds for the socioeconomic development of the area. –HAMZA HABIB
Pakistan Customs takes steps to reduce clearance dwell time
KARACHI: Pakistan Customs has taken measures by allowing trade to submit documents directly for clearance of consignments, which will significantly reduce the dwell time, sources said on Friday. –SHAHNAWAZ AKHTER
Pakistan stocks remain bearish amid profit-taking
KARACHI: Profit-taking was witnessed at the Pakistan bourse on Friday, as investors opted to square their positions; wherein, the market anticipates aggressive interest rate hike on December 14, dealers said. –JAVED MIRZA
SBP governor appointed Islamic financial body chairman
KARACHI: The Council of Islamic Financial Services Board (IFSB), Malaysia, has appointed State Bank of Pakistan (SBP) Governor Dr Reza Baqir as the chairman of its board for 2022, a statement said on Friday. –LATIFUR REHMAN
PM inaugurates new PVC plant of Engro Polymer
KARACHI: The Prime Minister Imran Khan inaugurated the new 100,000 tonnes polyvinyl chloride (PVC) III Plant of Engro Polymer and Chemicals (EPCL), which will enable import substitution of PVC and boost exports as well, a statement said on Friday. –LATIFUR REHMAN
ADB approves $385 million to improve health, living conditions in KP
ISLAMABAD: The Asian Development Bank (ADB) on Friday approved $385 million in financing to help improve the livability and community health of five cities in Khyber-Pakhtunkhwa. –HAMZA HABIB
FPCCI advocates maintaining status quo on policy rate
KARACHI: The Federation of Pakistan Chamber of Commerce and Industry (FPCCI) has proposed that the State Bank of Pakistan (SBP) should not further increase the monetary policy rate, as it can result in stagflation and adverse effects on industrial growth, a statement said on Friday. –SHAHNAWAZ AKHTER
SSGC suspends gas supply to non-export industries
KARACHI: The Sui Southern Gas Company (SSGC) has notified suspension of gas supply to all non-export general industries from December 11, 2021 till further orders, a statement said on Friday. –JAVED MIRZA
Pakistan’s forex reserves rise to $25.15 billion
KARACHI: Pakistan’s foreign exchange reserves have increased $2.652 billion to $25.151 billion by the week ended December 3, 2021, the State Bank of Pakistan (SBP) said. –SHAHNAWAZ AKHTER
Punjab enhances allocation for development schemes
LAHORE: The Punjab government has enhanced the development allocation for the ongoing fiscal year, an official said. –IQTIDAR GILANI
Increased freight rates incurring losses to exporters
KARACHI: The exorbitant increase in freight rates and no monitoring of shipping companies are a matter of concern for the Small and Medium Enterprises (SMEs) exporters, an official said. –LATIFUR REHMAN
Gerry’s dnata wins coveted global award
KARACHI: Gerry’s dnata, Pakistan’s leading ground services provider, has been recognised for consistently delivering quality, safe and innovative services at its Islamabad hub and received the “Best Station” accolade at the 2021 Pride of Ground Handling Awards, a statement said. –JAVED MIRZA
TDAP organises seminar on value addition in minerals
KARACHI: The Trade Development Authority of Pakistan (TDAP) organised a seminar on “Potential of value addition in minerals of Balochistan”, a statement said. –LATIFUR REHMAN
Indonesian envoy invites Pakistani industrialists for promoting bilateral trade
KARACHI: Indonesian Consul General in Karachi Dr June Kuncoro has invited Pakistani industrialists to visit Indonesia for promoting bilateral trade, saying that the Pakistani business and industrial community should take advantage of the opportunities available in Indonesia, a statement said. –SHAHNAWAZ AKHTER
Mandi Bahauddin chamber chief meets minister
LAHORE: Mandi Bahauddin Chamber of Commerce and Industry (MBCCI) president Syed Haider Raza Naqvi called on Punjab Minister for Industries and Commerce Mian Aslam Iqbal and discussed issues of the business community. IQTIDAR GILANI
Punjab govt praised for withdrawing increase in property tax
LAHORE: The Lahore Chamber of Commerce and Industry (LCCI) has welcomed the Punjab government’s decision to withdraw an increase in the property tax, a statement said. –IQTIDAR GILANI
LCCI demands reduction in key policy rate
LAHORE: The Lahore Chamber of Commerce and Industry (LCCI) has urged the State Bank of Pakistan (SBP) to avoid any further hike in the policy rate, as it would hinder economic growth, a statement said. –IQTIDAR GILANI
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KSE-100 opens bearish today
KARACHI: The Pakistan stocks opened on a bearish note as the KSE-100 index witnessed a decline of 289.83 points, or 0.67 per cent, in the first hour of trading on Friday. –LATIFUR REHMAN
Rupee loses 39 paisas to dollar at interbank opening
KARACHI: Pakistani rupee declined by 39 paisas against the dollar in early trade at the interbank foreign exchange market on Friday. –LATIFUR REHMAN
