The total liquid foreign reserves held by the country stood at US$ 16,988.2 million on 03-April-2020. According to SBP US$ 1880.8 million is decline in the month of March. US$ 18,869.0 million on 28-February-2020. The break-up of the foreign reserves position is Foreign reserves held by the State Bank of Pakistan is US$ 12,757.5 million … Read more
Lahore Chamber of Commerce & Industry on Thursday has urged the government for amnesty on ever kind of investment. Chamber demand that not to ask the source of investment from the investors for at least two years. In a statement, the LCCI President Irfan Iqbal Sheikh said that the exemption is direly needed for the … Read more
A latest study has revealed that about 20 million jobs are at risk in Africa due to the impact of the COVID-19 outbreak. According to an African Union (AU) study, “Nearly 20 million jobs, both in the formal and informal sectors, are threatened with destruction on the continent if the situation continues.” African oil exporters are … Read more
Prime Minister Imran Khan said that Pakistan is facing the challenge of poverty along with the issue of Novel coronavirus and government institutions need to play a vibrant role in this crisis. Prime Minister chaired a high level meeting to review the measures taken in industry and commerce, energy and to provide relief to poor … Read more
State Bank of Pakistan (SBP) announced to relax loans for households and businesses in light of the ongoing coronavirus pandemic which is expected to severely shake the Pakistani economy. SBP stated in a series of Tweets “in collaboration with the Pakistan Banks Association (PBA) — was aimed at helping people “manage their finances through this … Read more
The Saudi Social Development Bank, with the support of the National Development Fund, has launched a program to support owners of small and emerging enterprises in promising and priority sectors, as well as low-income families, the Saudi Press Agency said. Arab News while quoting Saudi Press Agency reported that Its doing so by allocating an … Read more
Canadian Prime Minister Justin Trudeau said on Tuesday that the Canadian government would provide financial support to people as he urged them to stay at home to slow the spread of the coronavirus. Trudeau said in an interview with 680 News radio, “We’re going to be flowing income supports to millions of Canadians.” Details of the … Read more
Prime Minister Imran Khan said, he fears the new coronavirus will devastate third-world economies. He also said, “Because of the effects of the economic slowdown, my worry is poverty and hunger.” Imran Khan has warned richer countries to prepare to write off the debts of the world’s poorer states, expressing fear the coronavirus could devastate … Read more
Economic Coordination Committee (ECC) has approved a proposal for a special relief package to further continue provision of subsidized electricity until June 2020 to five export-oriented sectors. The meeting of ECC was held in Islamabad today (Wednesday) with Advisor to the Prime Minister on Finance Dr Abdul Hafeez Shaikh in the chair. According to the … Read more
UN economists have warned that the deadly coronavirus epidemic could cost the global economy $1.0 trillion this year and called on governments to ramp up spending to mitigate its impact. Richard Kozul-Wright, Director, Division on Globalization and Development Strategies at UNCTAD said, “We envisage a slowdown in the global economy to under two per cent for this … Read more
King Salman bin Abdulaziz has relieved Mohammed Al–Tuwaijri from his post as Minister of Economy and planning. According to the details Saudi King reshuffles his cabinet and appointed Mohammed Al–Tuwaijri as an adviser at the Royal Court. According to the details, Finance Minister Mohammed Al-Jadaan has been appointed as Minister of Economy and Planning, in … Read more
ISLAMABAD: Prime Minister Imran Khan has directed to expedite the process of privatization of various government organizations and state-owned properties in the country. According to the details, Chairing a high-level meeting in Islamabad today, the prime minister ordered the authorities concerned that Inter-ministerial coordination should be improved to facilitate privatization process in an effective manner. … Read more
ISLAMABAD: The PTI government is hoping to get extension of the GSP Plus status from the European Union (EU) till 2022. The status will expire in the next month. According to the details, Abdul Razak Dawood, Adviser on Commerce, Textile, Industry and Production and Investment, stated this in a press conference held on Thursday here … Read more
The Lahore Chamber of Commerce & Industry has added a new chapter to its history by inaugurating four Facilitation Centers in a single day for its members. Now LCCI has become only Chamber of the country which has launched one window operation that is a composition of Facilitation Centers of various government departments and LCCI … Read more
Prime Minister Imran Khan held a meeting with Shehzad Arbab, Finance Minister Khyber Pukhtunkhwa Taimur Saleem Khan Jhagra, Chairman Board of Investment Syed Zulfiqar Haider Gilani to discuss proposals on planning and administrative matters in different fields. While addressing the participants the Prime Minister Imran said That Pakistan Tehreek-e-Insaf (PTI) government’s utmost priority is to … Read more
ISLAMABAD: Economic Coordination Committee (ECC) has decided to impose immediate ban on export of sugar. According to the details, The meeting was held in Islamabad on Monday with Adviser to the Prime Minister on Finance Sheikh Abdul Hafeez in the chair. The meeting observed that there are sufficient and adequate stocks of sugar in the … Read more
Karachi : Minister for Railways Sheikh Rasheed Ahmed said, increase in the income of Railways is his top priority. According to the sources, Addressing a press conference on Sunday, he said deficit of Railways has been reduced by four billion rupees. Sheikh Rasheed said Karachi is economic hub of the country, therefore steps are being … Read more
The Government of Pakistan Tehreek e Insaf (PTI) will increase the export of kinnow and also determined to increase the production of Kinnow. According to the details, Provincial Minister for Human Resources and Development Ansar Majeed Niazi said on Monday that PTI led government was determined to increase the production of Kinnow and steps have … Read more
ISLAMABAD: The export of Surgical goods and medical instruments increased about 9.56 % According to the details, Surgical goods and Medical instruments exports from the country during six months of current financial year grew by 9.56% as compared the exports of the corresponding period of last year. The sources of APP, During the period from … Read more
The withdrawal of all duties on cotton import has sparked serious concern among cabinet members who argue that the move will have an adverse impact on cotton prices in the domestic market and will discourage growers, many of whom have already abandoned the crop in the face of unattractive returns. According to the details, In … Read more
International ratings agency Fitch affirmed Pakistan’s B negative rating with a stable outlook due to a challenging external sector situation and weak fiscal and debt position, BOL News learnt. It said that steps have been taken towards addressing those issues and the implementation of the International Monetary Fund program was on track. It’s the second … Read more
The World Bank warned of the risk of a fresh global debt crisis after highlighting the issue of biggest build-up in borrowing in the past 50 years. British newpaper Guardian reported that In its half-yearly Global Economic Prospects (GEP), said of the four waves of debt accumulation since the 1970s. The latest the largest, fastest … Read more
Islamabad: The Economic Coordination Committee (ECC) has recommended for submission on Monday to the federal cabinet a set of amendments proposed by the Ministry of Energy to the Regulation of Generation, Transmission and Distribution of Electronic Power Act 1997. According to the sources, A session of the Economic Coordination Committee (ECC) held under the chair … Read more
The National Assembly was informed on Wednesday that the government has enhanced budget for merged districts comprising erstwhile FATA from fifty-eight billion to one hundred and sixty-two billion rupees. According to the details, replying to a question during the Question Hour, Minister of State for SAFRON Shehryar Khan Afridi said sixty-two billion rupees have been … Read more
ISLAMABAD: International Financial Fund (IMF) has projected vital fiscal slippages and has lastly minimize the tax assortment goal to Rs 5.238 trillion, which raises questions over claims of bringing fiscal self-discipline and restoring macroeconomic stability. According to the details, IMF expects Pakistan to overlook the price range deficit goal of Rs 3.2 trillion and has projected … Read more
Chinese efforts to bring mutual trade to a win-win situation would be a great favour to the economy of Pakistan. Chinese entrepreneurs should help Pakistani exporters to show their full presence in the Chinese markets. These views were expressed by the LCCI Vice President Mian Zahid Jawaid Ahmad while addressing to a 24-member Chinese delegation … Read more
Prime Minister Imran Khan said, the federal government is fully aware of the problems of Karachi and also committed to play its role for their solution. Talking to Members of National Assembly of Pakistan Tehreek e Insaf from Karachi in Islamabad on Friday (Dec 20), PM said Karachi is the economic hub of Pakistan, and … Read more
Back to back visits of Chinese trade delegations are not only reflect unbreakable friendship between the two countries but are also an ample proof of Chinese Investors’ growing interest in Pakistan. These views were expressed by the LCCI President Irfan Iqbal Sheikh while addressing a delegation of Chinese investors at the Lahore Chamber of Commerce … Read more
