Business
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822SBP increases policy rate by 25bps to 7.25 percent after a 15-month gap
State Bank of Pakistan (SBP) has increased the benchmark interest rate by 25 basis points to 7.25 percent on Monday after 15...
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756
Foreign investment falls 20 percent to $203 million in Jul-Aug
A 20 percent drop-down of Foreign direct investment (FDI) has been reported in the first two months (July-August) of the ongoing fiscal...
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890
Pakistani startups Sastaticket, Safepay feature on Forbes Asia ‘100 to watch’ list
Another new achievement-Pakistani startups are on the way to make their space in the international platform by fascinating wider international investment and...
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617
Output of LSM industries grows by 2.25 percent in July
The fiscal year 2020-21 has been wonderful for the Large Scale Manufacturing- LSM Industries in Pakistan which showed a growth of 14.85...
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629
Chinese firms confident in Pakistan after meeting with PM Imran
The Pakistan government is concentrating on the ‘ease of doing business’ policy and extending facilities to investors, stated Prime Minister Imran Khan...
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1.1K
Big trade expected between Pakistan Turkey via new land route
A big step for bilateral trade between Pakistan and Turkey as a direct land route via the Istanbul-Tehran-Islamabad (ITI) road corridor is...
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1.4K
Rupee slumps to an all-time low of 168.9 against the dollar
A decline of 85-paisa in the inter-bank market owing to the pressures caused by external payments, hauled the rupee to a record...
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869
Remittances see 10 percent increase in first two months of FY22
Pakistan has received $5.364 billion in remittances during the first two months of the fiscal year 2021-22 (2MFY22), showed an increase of...
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1.0K
Nadra launches contactless biometric verification service for banking
Making positive use of technical advancements, and accepting the request of the State Bank of Pakistan (SBP), National Database and Registration Authority...
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858
First-ever EU-Pakistan business forum for SMEs launched
The first-ever European Union (EU)-Pakistan Business Forum for Small and Medium Enterprises (SMEs) was launched on Thursday, aimed at boosting trade with countries...
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1.4K
Rupee falls to 13-month low of 168.08 against dollar as trade week closes
The rupee ended the day weaker and lost 0.26 percent against US dollar, according to today’s inter-bank closing exchange daily report. The US dollar’s...
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1.3K
Morgan Stanley downgrades Pakistan Stock Exchange from emerging to frontier
The Morgan Stanley Capital International (MSCI) has announced to cut down Pakistan Stock Exchange (PSX) among reduced progressive economies into Frontier Markets...
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856
Exports of services up 6.39 percent to $483 million in first month of FY22
Pakistan Bureau of Statistics presented a report on Saturday, illustrating that exports of services have been increased by 6.39 percent to $483...
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572
In world first, bitcoin becomes legal tender in El Salvador
Despite significant domestic distrust and international warnings about consumer concerns, El Salvador became the first government in the world to accept bitcoin...
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673
Seed Out receives IsDB Award for impact in Islamic Economics
Another great achievement for Pakistan- Seed Out, a micro-entrepreneurs non-profit crowd funding platform has been conferred with Islamic Development Bank Award for inspirational achievement for the first...
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600
Google, Apple forced to open up app store payments in South Korea
South Korea became the first country to force Apple and Google to open up their app store to other payment systems. According...
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733
Trade gap widens by 133 percent to $4.05 billion in August
During the month of August, the trade gap widened 133 percent to $4.05 billion against $1.740 billion during the same month, last year. This...
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740
National Savings outflows exceed inflows first time in 16 years
The net savings in National Savings remained negative during the fiscal year 2020-21, which has happened for the first time after 2004-05....
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788
New investment options opened up for overseas Pakistanis through RDA
The country’s central bank has given overseas Pakistanis a variety of new investment choices in Pakistan, including public and unlisted enterprises, mutual...
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601
Cargo handling at two major seaports posts double-digit growth in FY21
Cargo handling activities at Karachi Port Trust (KPT) and Port Qasim Authority (PQA) recorded a growth of 25 percent and 13.72 percent in FY21...
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540
Tarin unveils three-year economic plan for 14 key sectors
With the commitment not to exit the International Monetary Fund (IMF) programme and instead take it to face-to-face talks in Washington in October, Finance...
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1.0K
Overseas Pakistanis can now redeem cash-rewards for sending remittances
The government is going to allow the remitters to redeem in-cash rewards for the points earned for sending remittances to Pakistan through...
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727
New SBP instructions for selling third-party products
SBP has issued a comprehensively revised set of instructions on the sale of third-party products, the instructions will be applicable from 1st November. ...
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763
Govt aims to take exports to record high by 2023
Adviser to Prime Minister on Commerce and Investment Abdul Razak Dawood on Wednesday said that that the government would take exports to...
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796
Pakistan up 59 points in OICCI’s Business Confidence Index
Pakistan has shown a significant improvement in the overall business confidence in recent months, revealed Business Confidence Index (BCI). BCI survey has...
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839
PayPal launches its cryptocurrency service in the UK
Starting this week, the US online payments giant PayPal said that British users will be able to buy, hold, and sell cryptocurrency. ...
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669
Italy explores investment opportunities in Pakistan
There were vast opportunities for mutual trade and investment between Pakistan and Italy from which businessmen and traders of both the countries...
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981
Bitcoin nears $50,000 as crypto market remain bullish
The crypto market remained bullish for the second straight day on Saturday, with the Bitcoin nearing $50,000 as it continues to rebound after months...
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778
T-bills bounce back as foreign investment reach $15.98 million
The inflow of foreign investment in T-bills during the second month of the current fiscal year reached $15.98 million against the outflow...
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740
Roshan Digital Account inflow hits $2 billion
Roshan Digital Account (RDA) which was introduced last September became a wonderful source of getting foreign exchange as the deposits in this...
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950
SME Asaan Finance introduced for SMEs to get loans without collateral
The State Bank of Pakistan (SBP) has introduced a financing scheme for Small and Medium Enterprises (SMEs) called SME Asaan Finance, enabling...
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879
LSM sector grew by 14.85 percent in FY21
The overall increase has been seen in the Large Scale Manufacturing (LSM) sector by 14.85 percent during 2020-21 (FY21) against the previous...
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669
Mutual fund assets soar 64.3% to cross Rs 1 trillion mark in FY21
The assets managed by the mutual fund 20-odd companies, has crossed one-trillion-rupee for the first time by the last day of the outgoing fiscal year. The...
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856
Pakistan received record $2.71 billion remittances in July
Pakistan has received the third largest workers’ remittances amounting to $2.71 billion in July, the first month of current fiscal year. The...
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714
Dollar hits 10-month high against rupee, crossing Rs 164 mark
On Thursday, the US dollar surpassed the Rs 164 barrier for the first time in ten months after SBP let the rupee...
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1.5K
How McDonald’s cryptic ‘Podina Le Aun’ message became a marketing misfire
Almost all Pakistanis received a cryptic message from McDonald’s, asking a simple question, “podina ly aun??” and people were unable to make any sense...
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700
Pakistani exports to United Kingdom up 33 percent
The fiscal year 2020-21 witnessed a big increase in the exports to the United Kingdom by 33% to 2.025 billion as compared...
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1.2K
Footwear production plunges 35% in FY21 amid Covid restrictions
The formal footwear production has plunged in 2020-21 amid covid-induced lockdowns and restricted timings of markets. According to the report released by the Pakistan Bureau...
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670
Pakistan to terminate 23 bilateral investment treaties
Pakistan has decided to terminate 23 bilateral investment treaties (BITs) with different countries in order to avoid international arbitration with foreign firms...
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859
Pakistan trade deficit widened to a record $3.058 billion in July
The present government has been claiming to squeeze the trade deficit but things are now alarming as according to the data, issued...
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568
Pakistan’s exports to Italy record 49 percent growth
Pakistan’s exports to Italy has recorded a 49 percent growth on a year-on-year basis to $786 million in the outgoing fiscal year...
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686
Pakistan Investment Bonds fail to attract any foreign inflows during July
The first month of the 2021-22 financial year has passed without any foreign inflow in the Pakistan Investment Bonds (PIBs). According to the report...
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694
FPCCI holds training session for using Amazon platform
According to a statement released on Wednesday, the Federation of Pakistan Chambers of Commerce and Industry (FPCCI) organized an education campaign to...
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567
Pakistan, Bahrain sign MoU to promote bilateral businesses
Pakistan and Bahrain have signed MoU to promote bilateral businesses, will focus on sectors like healthcare and education, tourism, logistics, manufacturing, financial...
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962
Pakistan records 9% rise in regional exports of fiscal year 2021
Pakistan’s exports regional countries saw a growth of 9.14 percent while imports grew by nearly 36 percent in FY21 from a year ago. ...
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798
Pakistan could overtake India in trade with China in eight years
Even though Pakistan’s trade volume with China was barely one-fifth of India’s in 2020, a Pakistan ambassador predicted that Pakistan might surpass...
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751
China has not banned rice imports from Pakistan, clarifies Commerce Ministry
China has not imposed any restrictions on rice shipments from Pakistan, according to the Ministry of Commerce. In a statement, the ministry...
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590
IMF acknowledges growth in Pakistan’s economic activity
IMF has acknowledged the country’s stronger economic activity and believed the global economy to expand by 6 percent this year. On Tuesday, the International Monetary Fund...
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1.4K
Pakistani fintech Dastgyr raises $3.5 million in seed round
Pakistani fintech Dastgyr has raised a $3.5 million seed round led by SOSV, takes the total capital secured so far to $4 million, including the angel...
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700
Pakistan ranks top 10 nations in business environment
According to a new report by global think tanks, Pakistan has now become one of the 10 top economies with the most...
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650
Export of textiles soars to $15.4 billion in FY21
The export of textiles greatly increase during the fiscal year 2020-21 to the extent of 22.94%, revealed by the Pakistan Bureau of...
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1.3K
Pakistani rupee weakens against US dollar in interbank market, closes at 162.32
According to data, the Pakistani rupee lost another 0.52% to close at 162.32 against the US Dollar in the interbank market on Friday,...
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549
Credit to private sector spikes 12 percent to Rs 6.82 trillion
Credit to private sector by the banking system jumped 12 percent to a total of Rs 6.82 trillion in the previous fiscal...
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640
Indonesia-Pakistan B2B online portal launched
In order to facilitate increased trade between both the countries, Punjab Board of Investment & Trade (PBIT), Embassy of the Republic of Indonesia...
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725
LSMI output grows 37 percent in May, 14.56 percent in 11 months
The output of Large-Scale Manufacturing Industries (LSMI) increased by 14.57 percent in July-May 2020-21 compared to 11MFY20. According to the Pakistan Bureau...
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748
Bank deposits surge to all-time high in FY21
Around Rs 16.2 trillion were the bank deposits on June 30, 2020, whereas, the deposits reached the height of Rs 19.8 trillion on the...
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832
Despite challenges, Pakistan sees cryptocurrency boom
Pakistan has seen a boom in trading and mining cryptocurrency, with interest booming in 1000s of views of related videos on social...
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720
Pakistan included in Asian Growth Cubs ETF listed on NYSE
Dawn Global has launched the Asian Growth Cubs Exchange Traded Fund (ETF) listed on the New York Stock Exchange (NYSE) on 17th June...
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706
Investment by Islamic banking industry rises by 23 percent
The Islamic Banking Industry (IBI) invested 23 percent more than the deposit growth during Jan-March 2021 (3QFY21), according to report issued by the State...
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1.3K
First Amazon Center in South Punjab to be inaugurated after Eid
According to a top-level government official, Pakistan Post is set to inaugurate Pakistan’s first Amazon Fulfillment and Facilitation Center (AFFC) in South...
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596
Singapore investors urged to set up industries in CPEC SEZs
China-Pakistan Economic Corridor (CPEC) Chairman Lt Gen (retd) Asim Saleem Bajwa called upon investors from Singapore to tap into the opportunities being developed at the...
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780
Islamabad, Kabul sign to extend APTTA for 6 months
Islamabad and Kabul signed the protocol for a six-month extension of the Afghanistan–Pakistan Transit Trade Agreement 2010 (APTTA). In a video link ceremony, held on Thursday,...
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658
Banks see 43 percent jump in calendar year 2020 profits despite Covid
The profits of Pakistani banks have surged by 42.92 percent in the calendar year 2020, according to the stats released by State Bank of...
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552
Nigeria urges Pakistan to establish more banking channels for bilateral trade
Nigeria has has called for the establishment of more banking channels to facilitate bilateral trade between Pakistan and Nigeria. On Monday, the...
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602
Pakistan raises another $1 billion through Eurobond issued in March
Pakistan recently borrowed an additional $1 billion through a three-phase Eurobond issuance that raised $2.5 billion in March 2021. The bonds were...
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566
Is the digital Euro on its way?
According to Saxo Markets, a stocks and shares ISA financial firm, the European Central Bank (ECB) is considering proposals for a digital...
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1.1K
Pakistan hopes to achieve mango export target of 150,000 tonnes
More than 50,000 tonnes of mangoes have been exported during the first five weeks (May 25 to June 30) of the season as Pakistan hopes to...
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937
$1.6 billion sent by expats from 171 countries through Roshan Digital Accounts
Overseas Pakistanis have deposited approximately $1.6 billion through Roshan digital accounts (RDAs) from 171 countries in less than one year. The State...
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715
Karachi Railways generates record Rs 18.76 billion from freight service in FY21
Pakistan railways came with outstanding performance in the area of freight with Karachi division generating record freight revenue of Rs 18.76 billion in...
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824
Pakistan Post opens first Amazon facilitation centre
Pakistan Post has established Amazon Facilitation Centre to facilitate garments manufacturers and exporters on behalf of the government after becoming Amazon’s official...
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1.2K
SECP becomes first govt agency to offer WhatsApp support service
The Securities and Exchange Commission of Pakistan (SECP) has launched a WhatsApp channel for business care to quickly respond to public inquiries...
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919
PIBs attract net inflow of $256 million in 12 months
Foreign investment in Pakistan Investment Bonds (PIBs) attracted a cumulative net inflow of $256 million during the outgoing financial year. During the...
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636
SNGPL to suspend gas supply to select sectors in Punjab, KP
The Sui Northern Gas Pipeline Limited (SNGPL) has suspended the gas supply to CNG, cement, and non-export industry of Punjab and Khyber...
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1.0K
Exports to regional countries rise 6 percent in 11 months
Exports of Pakistan to nine regional countries witnessed a growth of 6.23 percent in 11 months of the outgoing fiscal year. According...
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966
Binance, the world’s largest cryptocurrency exchange, banned by UK regulator
In what is seen as the latest sign of a growing crackdown on the crypto market around the world, largest cryptocurrency exchange...
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864
Customs duty collection from 13 major sectors rise by 26.58%
The Federal Board of Revenue (FBR) raised nearly 70 percent of the total customs duty collection from 13 major sectors. An amount of...
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639
SBP unveils policy for inclusion of Persons with Disabilities
The State Bank of Pakistan (SBP) has introduced a comprehensive policy to enhance the financial inclusion of Persons with Disabilities (PWDs). President...
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883
Textile and clothing exports jump to $13.7 billion in eleven months
Pakistan’s exports of textile and clothing rebounded during July 2020 to May 2021 mainly due to value-added sectors and posted a robust growth of 19% as...
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1.1K
Niger to establish SEZs for Pakistan
Niger is going to establish special economic zones (SEZs) for Pakistan as it eyes to attract investment in the infrastructural sector in Africa. On...
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1.1K
Pakistani entrepreneur Mariam Adil makes it to Forbes Next 1000 list
Mariam Nusrat Adil, a Pakistani entrepreneur who is using the power of video games to inspire social change has made it to Forbes Next 1000 list, which...
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868
Online marketplaces in Pakistan criticize 17 percent tax on transactions
In a recent Finance Bill, the government sought to classify online marketplaces (OMs) as “Tier 1 Retailers,” subjecting all transactions performed through...
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824
BoI avoids investing funds for profit, suffers Rs 212 million loss
The Board of Investment (BoI) did not invest its funds for profit considering it Riba and suffered a loss of Rs 212.2 million. On...
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1.1K
Banks allowed to collect up to Rs 200 fee on inter bank funds transfer
According to the State Bank of Pakistan’s recent instructions about changes to the pricing mechanism of inter bank funds transfer online, a...
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970
BoI launches PRMI, SEZMIS & IRMS online platforms to accelerate business environment
The Board of Investment (BoI) has launched three platforms, will provide local and foreign investors ease in online registration. On Monday, BoI launched 3 platforms...
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1.1K
Pakistani company Saffran Group gets 3.2m order from Japanese corporation
Japanese company Bears Inc has placed a $3.2 million order with Pakistani Saffran Group company for creation of an information technology platform...
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1.3K
Large-scale manufacturing expands by 68pc in April, 13pc in 10 months of FY 2021
Large-Scale Manufacturing (LSM) in Pakistan has seen a growth of 68.07 percent in April whereas, the sector’s output grew 12.84 percent in...
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969
Exports increase by 14 percent in Jul-May 2021
The exports from Pakistan has witnessed an increase of 13.97 percent during the first 11 months of the current fiscal year (11MFY21). ...
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514
Private sector borrowing from banks jumps by 70 percent
The private sector’s borrowing from banks jumped by 70 percent in the first 11 months of the current fiscal year, reflects higher...
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824
Pakistan plans to impose additional tax on cigarette industry
Health ministry of Pakistan wants to increase 30 percent of the tax rates for the cigarette industry, federal government considering the proposal. ...
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878
State Bank to introduce collateral-free loan scheme for cottage industry
The State Bank of Pakistan (SBP) is going to launch a clean loan scheme for the cottage industry for up to Rs 10 million financing. “Government deserves...
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1.2K
Pakistan’s various sectors ready to receive CPEC benefits
Pakistan’s various sectors are ready to receive maximum benefits from the China-Pakistan Economic Corridor (CPEC) project which is considered a game-changer for Pakistan. According to experts...
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762
SECP registered 1,597 new businesses in May, a growth of 107 percent
The Securities and Exchange Commission of Pakistan (SECP) have registered 1,597 new businesses, more than doubled in May compared to the last...
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1.0K
Cement sales up 41 percent in May despite increase in price
The local sales of cement jumped 41 percent in spite of the long Eidul Fitr holidays and price increase by manufacturers in...
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987
E-earn program for 10,000 freelancers inaugurated in Punjab
Yasir Humayun, the Punjab Higher Education Minister and head of the Punjab Information Technology Board (PITB), has launched the e-Earn scheme, which...
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1.4K
Japanese firm Bold Investment to invest in Pakistan’s tech sector
A Japanese firm, Bold Investment, has established its investment arm in Pakistan with aims to rise growth and potential in technology space...
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1.0K
US largest supermarket company Kroger Co. adds Pakistani products
The third largest retail store chain in the US, the Kroger Co. has added Pakistani food products to its outlets, announced Abdul Razak Dawood. ...
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1.5K
Pakistan Post becomes Amazon official delivery partner
Just weeks after Amazon opened up its platform to Pakistani sellers, Pakistan Post Office has been formally authorized as the delivery partner...
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794
‘Economic growth to catch pace in coming years, GDP to reach 6% by 2023’
As the government is preparing the budget for the upcoming fiscal year, the economic growth rate of Pakistan would catch pace next...
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639
28 percent growth in bank advances via credit cards during April 2021
Bank advances via credit cards have swelled by 28 percent to Rs 53 billion in April from Rs 42 billion in the same...
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904
Current account posts $773 million surplus in July-April
The current account of the country continued to surplus with $773 million during the first 10 months of the current fiscal year...
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867
PM Imran set aside Rs 100 billion for startup loans to end unemployment
Prime Minister Imran Khan has announced Rs 100 billion fund for startup loans and 170,000 skilled education scholarships so that the challenge...
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613
Rise in bank deposits outpaces advances growth in first 10 months of FY21
The banks used to invest their largest part of liquidity in the government papers which are risk-free and give high yields. After...
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756
Mango export target set at 150,000MT for current season
All Pakistan Fruit and Vegetable Exporters, Importers & Merchants Association (PFVA) has set the target of mango export at 150,000 metric tons...
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629
Foreign direct investment falls by 32.5 percent in July-April FY21
Foreign direct investment has fallen by 32 percent during the 10 months of the current fiscal year from July to April of...
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1.1K
Pakistan’s exports to Australia have increased by 30pc, says Australian envoy
In a webinar meeting, Australian High Commissioner Dr Geoffrey Shaw announced the increase of Pakistan’s exports to Australia by 30 percent. On...
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880
Roshan Digital Accounts mark upward trend after PM’s visit to KSA
Roshan Digital Accounts has witnessed a noteworthy upward trend following Prime Minister Imran Khan’s recent visit to the Kingdom of Saudi Arabia. ...
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953
Pakistan’s National incubation center, ‘IGNITE’ recognized by the UN
Pakistan’s National Incubation Center, ‘Ignite’ has been recognized by the International Telecommunication Union, an agency or digital tech run under the United...
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1.4K
Loan infection ratio of banking sector rises to 9.3 percent
The banking sector’s infection ratio rose from 8 percent in December 2018 to 9.3 percent at the end of March this year, according to...
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1.1K
Four SEZs to create 1.47 million jobs, boost industrial growth
The four Special Economic Zones (SEZs) are expected to create as many as 1.47 million jobs besides playing a vital role in boosting local industry. The...
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772
Cotton imports are up 46% as domestic output falls dramatically
During the first nine months of the current fiscal year, Pakistan imported cotton worth $1.838 billion. This is up 46% from the...
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1.2K
Rupee upsurge against dollar continues, hits a new 23-month high
For the eighth consecutive working day, rupee has maintained its uptrend, hitting a 23-month high of Rs 152.27 against the US dollar...
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622
Roshan Digital accounts to be converted into digital banking
Roshan Digital accounts will ultimately be converted into digital banking, SAPM Sayed Zulfikar Abbas Bukhari announced on Monday. On Monday, Corporate Pakistan...
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696
Freelancers earn over Rs 4 billion from abroad since January 2020
Pakistani freelancers have received more than 4 billion rupees since January 2020 using a tech-based solution amid the coronavirus pandemic. While businesses...
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620
Pakistani fintech CreditBook secures $1.5 million in seed funding
CreditBook, a Karachi-based fintech startup, has received $1.5 million in seed funding from Pakistan’s BitRate VC and Dubai’s VentureSouq. Better Tomorrow Ventures, Ration Ventures, Toy...
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1.1K
Pakistan gets officially listed on Amazon seller list
US e-commerce giant Amazon has added Pakistan to its approved seller list, a moment of celebration for Pakistani small businesses. Prime Minister...
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944
Industrial sector to cut 15-20 percent jobs after Eid
Industrialists are going to slash 15-20% jobs after Eidul Fitr in the wake of slowdown in industrial production amid difficult condition of...
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1.3K
Pakistan to register Khewra salt with international trade bodies
Local rock salt of Khewra is going to be registered with international trade bodies, taking Pakistan to the lead in the global...
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817
ADB puts Pakistan growth rate at 2 percent this year
The Asian Development Bank (ADB) has forecasted Pakistan GDP growth by two percent during 2021, subject to successful vaccine rollout and implementation...
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883
SECP to introduce concept of special purpose acquisition company
The Securities and Exchange Commission of Pakistan (SECP) is going to introduce the concept of a special purpose acquisition company (SPAC) in...
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632
Roshan digital account scheme attract historic $1 billion
Inflows of foreign exchange through the Roshan Digital Account (RDA) crossed the $1 billion mark, making space for the architects of the...
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901
China agrees to open Khunjerab border for trade
After a number of requests of Pakistan to China, the Chinese government now has agreed to open the Khunjerab border, keeping in...
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850
Cryptocurrencies Crash After Hitting All-Time Highs
On Sunday, Bitcoin, the world’s most famous cryptocurrency, dropped as much as 15% to $51,541, losing much of the previous week’s gains. The...
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720
Traders in Karachi flout Sindh govt’s market closure policy
All commercial areas in the city will remain open today, according to All Karachi Tajir Ittehad Chairman Atiq Mir, who was reacting...
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658
Pakistan’s foreign exchange reserves hit five-year high
Pakistan’s foreign exchange reserves hit a five-year high of $23.2 billion last week with the State Bank of Pakistan crediting the rise...
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940
Large scale industrial output expands 7.45 percent in eight months of current fiscal year
Large Scale Manufacturing increased by 4.85 percent in the month of February making it to an increase of 7.45 percent for July-February...
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578
Alibaba shares jump 6 percent after $2.8 billion anti-monopoly fine
Alibaba stock jumped 6% after the e-commerce behemoth told investors that a record $2.78 billion antitrust fine levied by China would have...
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899
Bitcoin crosses $62,000 ahead of Coinbase IPO
Cryptocurrency Bitcoin has hit a record high, crossed $62,000 ahead of cryptocurrency exchange Coinbase IPO on Wall Street. On Tuesday, Cryptocurrency Bitcoin hit a record...
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830
SBP considering issuing digital currency to boost financial inclusion
The State Bank of Pakistan (SBP) will possibly issue digital currency to boost financial inclusion and reduce money laundering in the economy. According to...
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900
Pakistan records remittances over $2b for 10th consecutive month
Pakistan has recorded an increase of 26% in remittances of above $2 billion for the 10th consecutive month in March, revealed SBP. ...
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615
China invites Pakistani firms to attend online Canton Fair
On Saturday, the Counsellor Embassy of China Xie Gouxiang invited Pakistani companies to attend the Canton Fair and explore prospects for the export of their products around the world. ...
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903
World Bank puts Pakistan growth rate at 1.3pc
Pakistan had been showing a weak economic recovery with the resumption of economic activity and was expected to achieve a growth rate of 1.3%, ...
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523
KP govt to introduce Alternative Delivery Channels to facilitate tax payers
KPK government, State Bank of Pakistan (SBP) and 1-Link have signed a tripartite agreement for the collection of government taxes through Alternative...
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1.5K
MTJ – Maulana Tariq Jameel launches own clothing brand
The religious scholar Maulana Tariq Jameel has launched his own clothing brand, the inauguration ceremony was held in Karachi. On Saturday, MTJ clothing brand was launched in the...
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1.2K
Pakistan all set to enter China’s $15bn meat market
Pakistan is going to venture into the $12 to $15 billion China’s meat market, announced the Food Minister. The Food Minister announced that...
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819
Pakistan’s exports reach decade-high of $2.3b in March
Pakistan’s exports have reached a decade-high of $2.3 billion in March 2021, monthly figures showing growth year-on-year and over the previous month. The...
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892
FBR collection hits Rs475bn in March
Federal Board of Revenues successfully collected Rs.475 billion against a target of Rs.439 billion during the month of March, this year. This is the...
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945
Pakistani fintech SadaPay raises $7.2m in seed round
Fintech SadaPay launched its digital wallet and numberless debit card under the supervision of the regulator. It employs a ‘neobank’ business model, using the Electronic Money...
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760
Hammad Azhar announces launch of Pakistan’s ‘first ever’ three-tranche capital market transaction
Pakistan’s “first ever” three-tranche capital market transaction is going to be launched. The launch happened the same day Hammad Azhar was entrusted with the finance ministry...
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633
Due to Covid, production activities of local leather industry are limited to 50%
Generally, the industrial and trading sectors of Pakistan have been badly affected due to Covid-19 but the same proved to be a blessing in disguise...
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738
Rupee gains another 42 paisa as the US dollar falls to pre-Covid level in interbank
On Monday, the rupee gained an additional 42 paisa against the US dollar as the greenback was quoted at below the pre coronavirus pandemic...
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882
Govt plans to launch Eurobond to generate up to $1 bn
The government has planned to launch Eurobond in the international capital market probably within the next few days in order to generate $750 million...
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550
PM nods abolition of corporate tax exemption
The government has abolished the tax exemption, worth Rs.150 billion to the corporate sector through Presidential ordnance in order to fulfill the...
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946
Traders lament low mango exports to US
Ahmad Jawad, the former Chairman of the Federation of Pakistan Chambers of Commerce and Industry (FPCCI)’s Standing Committee on Agriculture said that...
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705
Pakistan’s exports slump 22pc in the region
The Pakistan’s exports to different regional countries, including Afghanistan, China, Bangladesh, Sri Lanka, Iran, Nepal, Bhutan, and the Maldives have come down during the eight...
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844
Policy rate to remain unchanged at 7pc: SBP
The Monetary Policy Committee (MPC) of the State Bank of Pakistan has maintained the policy rate at 7 percent. This time, once again...
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666
MOU Signed Between SMEDA and University of Central Punjab
University of Central Punjab (UCP) has collaborated with the Small and Medium Enterprises Development Authority (SMEDA) and signed a memorandum of understanding (MoU) to collaborate and...
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678
Iran keen to expand investment, trade ties with Pakistan
In a meeting with the delegation of the Federation of Pakistan Chamber of Commerce and Industry (FPCCI) headed by the Chairman, Qurban Ali, the...
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718
KP govt to build pilot cryptocurrency mining farms
Khyber Pakhtunkhwa government is going to build two hydroelectric-powered pilot cryptocurrency mining farms to capitalize on a bullish global cryptocurrency market. The...
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769
Unilever Pakistan among four companies issued show-cause notices for ‘deceptive practices’
The Competition Commission of Pakistan is authorized under the Competition Act to ensure free competition in all spheres of commercial and economic...
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789
Textile exports fall by 3pc in February
Textile and clothing exports has decreased in second month from a year ago owing to a decline in value-added exports, the export...
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783
Strong growth in digital financial transactions in the country in Q2 FY2020/21
The State Bank of Pakistan (SBP) released its Quarterly Payment System Review (QPSR) for the second quarter, October – December 2020, of...
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1.3K
Special Economic Zones launched in Thatta, Chakwal
Two Special Economic Zones (SEZs) have been launched at Pir Phato, Thatta and Padshahan, Chakwal districts by the Dynamic Engineering and Automation (DEA). A privately owned engineering...
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1.2K
GasPort plans $94m virtual LNG pipeline from Gwadar
The Gwadar GasPort Limited (GGPL) has planned to invest $94.04 million in a virtual Pipeline to deliver LNG at the doorsteps of the industrial...
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1.2K
A young entrepreneur makes a splash in the fisheries following Biofloc technology
With an initial investment of Rs.80.00 per fish, one can sell the fish at the rate of Rs.300.00, told Shaukat Hussain to the media on...
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609
Roshan digital account attracts $671m in six months
The Roshan Digital Account (RDA), which launched last year in September has now crossed 100,000 accounts and attracted $671 million. On Friday, the State Bank...
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541
5,145 firms in Pakistan have at least one female director: SECP
According to SECP, 21,168 companies registered between March 2020 and March 2021, and 5,145 firms have at least one female director. On...
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608
Banks directed to use digital payment modes in financial services
The State Bank of Pakistan (SBP) has directed all banks in the country to provide a set of minimum services on internet...
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1.1K
FBR targeting Payoneer, freelancers over billions of rupees transferred from abroad
According to the Federal Board of Revenue (FBR), a ‘mega scam’ involving a foreign company moving about Rs60 billion to more than...
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878
2,257 new startups register after SECP’s “ease of doing business” reforms
The Securities and Exchange Commission of Pakistan (SECP) in a game-changing development has announced that ease of doing business has led to the...
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795
PM approves withdrawal of 80 income tax exemptions
Pakistan and IMF had a staff-level agreement last month for the approval of the second to fifth reviews and release of the...
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1.2K
Pakistan issues fresh tenders to buy wheat, sugar
Trading Corporation of Pakistan has issued two new international tenders to purchase 300,000 tons of wheat and 50,000 tons of sugar. Pakistan...
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735
PM Imran Khan okays cross-border yarn import
The cross-border yarn import has been approved by Prime Minister Imran Khan amid fears of a shortage of industrial input in textile...
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813
Norwegian investment in Pakistan, FM Qureshi appraised growing business relations
Shah Mahmood Qureshi, Foreign Minister expressed his satisfaction towards Norwegian investment in Pakistan. He exchanged his views on enhancing cooperation in many sectors like...
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1.2K
Careem Engineering offers remote global opportunities for Pakistanis
Careem Engineering has offered remote global opportunities for the country to make Pakistan an epicenter of technology. It is further expanding its engineering...
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879
Pakistan plans to develop oil city in Gwadar
The government is going to develop a massive oil city in Gwadar district in Balochistan province. According to Director General of Gwadar Development Authority (GDA), Shahbaz Khan Kakar, Fisheries,...
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620
FPCCI signs partnership agreement with Greater Manchester Chambers of Commerce
Pak-UK Business Council of the Federation of Pakistan Chambers of Commerce and Industry (FPCCI) organized a Partnership Collaboration Agreement Signing Ceremony with Greater Manchester...
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599
FBR exceeds eight-month revenue collection target by Rs 18 bn
There has not only been stability in all the sectors of the economy after the Covid-19 rather there seems much improvement. Federal Board of Revenues (FBR)...
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724
PM Imran Khan lays foundation stone of business district in Lahore
PM Imran Khan laid the foundation-stone of the first-ever Central Business District project of Pakistan, at the Walton Airport site. In order to ease doing the business in Lahore, PM Imran...
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839
ECO freight train to resume operations after nine years
After a gap of 9 years ECO freight train is going to be resumed on 4th March between Istanbul-Islamabad. The train that connects businesses...
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577
ITFC loans $1.1bn to Pakistan for oil and LNG imports
A member of the Islamic Development Bank Group, ITFC has agreed to loan $1.1 billion to Pakistan for oil and LNG imports...
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706
Malaysia keen to promote trade with Pakistan: envoy
Malaysia has shown its keen interest to promote trade with Pakistan as Ikram Bin Muhammad Ibrahim, High Commissioner of Malaysia in Pakistan said that...
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651
61% of Pakistani entrepreneurs enjoying good business conditions: Gallup survey
In spite of the fact that covid-19 has drastically affected the business community in Pakistan but as per the statement of 61%...
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565
27pc drop in foreign direct investment
State Bank of Pakistan reported that during the first 7 months, foreign direct investment (FDI) fell by 27 percent compared to the same...
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681
Pakistan and Sri Lanka ink MoUs to strengthen cooperation
Pakistan and Sri Lanka have signed multiple Memorandum of Understandings (MoUs) related to education, science, investment, technology, and industrial cooperation. On Tuesday, both countries signed...
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828
Pakistani startups launch Chikoo platform to help SMEs sell online
Brandverse and eOcean, both Pakistani Startups are collaboratively going to work through the new Chikoo platform. These startups have signed a Memorandum of Understanding (MoU) for...
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887
Plans for $10bn Aramco refinery in Pakistani ‘oil city’ ready by year-end
A masterplan for $10bn Aramco oil refinery project is underway and expected to be ready before the end of the year. According to...
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794
Pakistan to register Himalayan pink salt
Pakistan is going to register Himalayan pink salt, extracted from the Salt Range which extends along the south of the Potohar Plateau and the...
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750
Pakistan to issue Green Bond to boost renewable energy projects
In order to boost renewable energy in Pakistan, the government is planning to issue the country’s first green bond. Malik Amin Aslam,...
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752
Chinese firm aims $150m industrial park in Lahore to enhance exports
The Chinese firm is all set to invest $150 million in an industrial park on the border of Lahore at Kasur. The...
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1.1K
Pakistani fintech PayPro gets Rs 7.4 million funding from USAID
PayPro, a fintech startup has announced that it had received a grant amounting to Rs 7.473 million from USAID Small and Medium...
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973
Textile exports increase 8.23 percent to $8.765 billion in 7 months; 10.79 percent in Jan
Textile exports witnessed an increase of 8.23 percent during the first seven months of the current fiscal year and increased 10.79 percent...
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928
Uzbekistan to invest in textile sector of Pakistan
Uzbekistan and Pakistan showed resolve to enter into a preferential trade agreement and cooperate in shipping, textile, engineering and information technology sectors....
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1.0K
Mastercard launches Pakistan’s 1st numberless debit card with SadaPay
Mastercard has collaborated with SadaPay in order to launch the Middle East and Africa (MEA) region’s first numberless and contactless-enabled card in...
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705
Large scale manufacturing grows 11.4 percent in December
Large-scale manufacturing (LSM) in the country grew by 11.4 percent in December 2020 as compared to December 2019. According to the data...
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976
The Impact of Covid-19 on Online Shopping in Pakistan
The outbreak of Covid-19 has changed the world and is continue to bring a significant effect on our everyday life. It has fast-tracked consumer behavior towards online shopping and has managed to...
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694
Roshan Digital Accounts attract $480 million from 97 countries in five months
Foreign exchange inflows from overseas Pakistanis under the Roshan Digital Accounts have reached more than $480 million in five months. Dr. Reza...
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808
Pakistani startup Safepay secures funding from US fintech giant Stripe
Karachi-based fintech startup Safepay announced raising a seven-figure seed funding round led by global financial services company Stripe, among other investors. Besides...
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1.3K
Daraz and Extreme Commerce join hands to empower local sellers
Daraz and Pakistan’s first EdTech startup Extreme Commerce have joined hands for e-commerce and digital trade. The partnership will help Daraz sellers...
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849
SBP mulls relaxing FE regulations for startups to raise convertible debts
The State Bank of Pakistan (SBP) is considering relaxing rules for startups and fintech companies to raise foreign capital, as it may...
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1.3K
PTCL posts 38 percent profit growth in 2020
Pakistan Telecommunication Company Limited (PTCL) recorded a consolidated profit after tax (PAT) of Rs 3.27 billion for the year ended December 31,...
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1.1K
‘AJK has potential to become Silicon Valley and IT hub of Pakistan’
Sardar Masood Khan, president of Azad Jammu and Kashmir (AJK) has said that the youth of the region have the potential to...
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812
PSX breaks 16-year record as trading volume crosses 1 billion shares
The Pakistan Stock Exchange (PSX) has witnessed a trading volume of one billion shares in a single day for the first time...
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1.4K
Pakistan offers China partnership in $9 billion PARCO coastal refinery
The government of Pakistan is going to seek investment from China for becoming a shareholder in the state-of-art PARCO coastal refinery and...
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952
Pakistan launches first national investment platform for startups
Ministry of Information Technology and Telecommunications (MoITT) and its tech innovation arm, Ignite (National Technology Fund), on Tuesday launched PakImpactInvest, Pakistan’s first...
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719
Pakistan ranks 3rd among countries safeguarding SMEs from coronavirus impact
Pakistan ranks 3rd in the government support provided to small and medium enterprises (SMEs) to mitigate the impact of coronavirus pandemic. According...
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1.2K
NBP branches in Bangladesh, Afghanistan to be closed
Due to the losses, the National Bank of Pakistan (NBP) has decided to shut down its branches in Bangladesh and Afghanistan. During...
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783
Business community demands GI tag for more Pakistani products
The business community of Pakistan has demanded that similar to Basmati rice, the country needs to apply for Geographical Indication (GI) tag...
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812
Pakistan’s exports to UK increase 22% to touch $1bn mark in first half
Exports of Pakistan to the United Kingdom (UK) has increased by 22% and crossed one billion dollars in six months, despite the...
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684
For first time in 8 years, exports cross 2bn mark in 4th consecutive months
Exports of Pakistan had maintained growth and for the first time in eight years have crossed the $2 billion mark for the fourth consecutive month. Commerce Adviser Razak Dawood called it...
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1.6K
Panther Tyres raises Rs 2.632 billion through book building at PSX
Panther Tyres Limited has successfully raised Rs 2.63 billion through a two-day book building process at the Pakistan Stock Exchange (PSX). On...
