Latest Finance News – Pakistan & World Finance news updates – Breaking news, New photo & Videos.
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, 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
Carnegie Endowment for International Peace (CEIP), one of the world’s leading international peace and strategic insight think tanks, invited Ambassador Ali Jehangir Siddiqui to speak on Pakistan’s investment climate and existing Pakistan-U.S. business ties. In his opening remarks, Ambassador Siddiqui highlighted the Government of Pakistan’s efforts to attract foreign direct investments through incentives, reform, and … 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
Aston Martin, the famous car maker revealed its going through severe financial crisis, and lost over £100 million in 2019. This news saw its shares drop to their lowest value since its 2018 flotation, as the storied car maker continues to struggle amid disappointing sales. The Aston Martin company had planned to sell 7,300 cars … Read more
ISLAMABAD: Prime Minister Imran Khan said that as the previous year remained challenging in terms of stabilizing the economy, the government after achieving stabilization, was now focusing on the growth of socioeconomic. According to the details, The prime minister had a meeting with a delegation of foreign investors which called on him here at the … 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
Myanmar is set to be placed on a watchlist by a global finance watchdog this week, amid concerns of money-laundering by transnational drug traffickers and weak regulation of its financial system. While being on the list does not carry any sanctions, it could curtail the growth of financial, investment and trade flows to and from … Read more
Turkish President Recep Tayyip Erdogan’s visit to Pakistan this week will not only help strengthen economic cooperation between the two countries but will also help boost bilateral trade, according to local businesspeople. Erdogan is scheduled to arrive in the capital Islamabad on Thursday for a two-day official visit — his fourth since 2002. Karachi-based businessman … 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
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
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
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
ISLAMABAD: The federal government has asked the State Bank of Pakistan (SBP) to divest its entire shareholding in House Building Finance Company (HBFC), which will pave the way for the housing finance company’s privatisation, officials say. According to the Finance Division, HBFC is a public limited company in which the government held 62.50% shares while the … Read more
ISLAMABAD: The Federal Board of Revenue (FBR) has decided to take strong action against the tax evaders and announced to launch a crackdown against them from March 2020. According to the details, the revenue board has issued notices to 200,000 high-net worth individuals for the purpose. These remarks were made by FBR Inland Revenue (IR) Member Dr … 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
The Punjab Provincial Development Working Party approved ten development schemes of various sectors with an estimated cost of Rs. 10,079.598 million. These schemes were approved in the 30th meeting of Provincial Development Working Party (PDWP) of current fiscal year 2019-20 presided over the Chairman P&D Board Hamed Yaqoob Sheikh. Provincial Secretary P&D Imran Sikandar Blaoch, … Read more
Economic Coordination Committee (ECC) has approved grant of six billion rupees subsidy for Utility Stores Corporation (USC) of Pakistan for procurement of essential commodities, including flour, sugar, ghee,oil, pulses and rice. The ECC, which met in Islamabad on Monday with Advisor to Prime Minister on Finance Dr. Abdul Hafeez Shaikh in the chair, approved the … 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
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
International Monetary Fund (IMF) said that economic reforms program of Pakistan is on track and has started to give fruitful results. According to details, after Completion of IMF’s first review on Pakistan’s economic performance under the Extended Fund Facility, Executive Board of the IMF has made this observation. IMF said that Pakistani authorities has implemented … Read more
Significant steps are required to improve Ease of Doing Business ranking, Trade bodies and stakeholder should be taken on board before any policy formulation. The government Should support businesses instead of harassing them. They should protect the domestic industry. Improving business will overcome unemployment. Energy crises and double taxation have badly disturbed businesses. There is … Read more
PTI Government’s efforts to boost the foreign exchange reserves have shown the results as the reserves held by the central bank have shot up to one and a half year, striking the $10-billion mark. The foreign exchange reserves held by the central bank increased 18% on a weekly basis, according to data released by the … Read more
