Tag Archive for "Business" - Pakistan News Digest

  • Karachi Needs $9 Billion to Fix its Transport, Drainage, Water Supply & Sanitation Needs: WB

    The World Bank has estimated that Karachi needs around $9 to $10 billion of financing over a 10-year period to meet its infrastructure and service delivery needs in urban transport/drainage, water supply, and sanitation, and municipal solid...

    • Posted 3 weeks ago
    • 0
  • Exports Fall by 20.89% in August 2020 Thanks to Monsoon Rains

    The country’s exports declined by 20.89 percent to $1.583 billion in August 2020 compared to $2.001 billion in July 2020, said the Pakistan Bureau of Statistics (PBS).However, PBS has once again contradicted the trade figures released...

    • Posted 3 weeks ago
    • 0
  • Maari Petroleum Company Ltd announces new hydrocarbon discovery in Sindh

    Maari Petroleum Company Ltd has announced a new hydrocarbon discovery in Sindh.A statement by the Company says gas discovery was made in Mari Lease Area, District Ghotki, Sindh. ...

    • Posted 1 month ago
    • 0
  • ECC ratifies proposal to reduce, remove tax incidence at import stage of sugar: Azhar

    Minister for Industries and Production Hammad Azhar says ECC has ratified the proposal to reduce and remove the incidence of taxes at import stage of sugar.In a tweet, he said this will facilitate the private sector imports,...

    • Posted 1 month ago
    • 0
  • Govt Allows Export of N-95 & Surgical Masks

    The federal government has allowed the export of N-95 and surgical masks, said Federal Minister for Science and Technology, Fawad Chaudhry.The federal minister took to Twitter to announce the development and said that it was the only...

    • Posted 1 month ago
    • 0
  • Invest2Innovate Launches its Deal Flow Tracker

    Invest2Innovate (i2i) has released its Deal Flow Tracker that showcases investments made in Pakistani startups from 2015 – 2019. The database details over 140 deals that have taken place during the past six years disaggregated by type...

    • Posted 1 month ago
    • 0
  • Pakistan Receives its Highest Monthly Remittance Ever

    Contrary to the forecast by global think tanks, Pakistan has received the highest-ever monthly remittance of $2.7 billion in the first month (July) of the financial year 2020-21.According to the State Bank of Pakistan, remittances increased by...

    • Posted 1 month ago
    • 0
  • Federal Govt to provide Rs8.5b as net hydel profit: Taimur Jhagra

    Khyber Pakhtunkhwa Minister for Finance Taimur Saleem Jhagra says the federal government has agreed to provide eight point five billion rupees to the provincial government as net hydel profit.Presiding over a meeting in Islamabad on Tuesday, he...

    • Posted 8 months ago
    • 0
  • SECP Launches Startup Portal to Encourage Tech Innovation in Pakistan

    The Securities and Exchange Commission of Pakistan (SECP) has launched a startup portal to encourage technology innovation in Pakistan.SECP Commissioner for Information System and Technology Department, Shauzeb Ali inaugurated the portal during the 'St...

    • Posted 11 months ago
    • 0
  • Cement sector reports 9.19% growth in October

    The All Pakistan Cement Manufacture Association has said in its report that growth rate of the cement industry has increased by 9.19% in October 2019.It further said that the sale of cement was recorded 4.98 billion in...

    • Posted 11 months ago
    • 0
  • SECP Notifies New Rules for Corporate Restructuring

    The Securities and Exchange Commission of Pakistan (SECP), with the approval of the federal government, has notified the Corporate Restructuring Companies Rules 2019. The enactment of these rules provides institutional arrangements and legal processes ...

    • Posted 11 months ago
    • 0
  • Hascol Bleeds With a Huge Loss of Rs. 13.87 Billion in 2019

    Hascol Petroleum announced its financial results for the nine-month period that ended on September 30, 2019. The company's financial performance in 2019 has not been bright in terms of earnings.It reported a whopping loss of Rs. 13.87...

    • Posted 11 months ago
    • 0
  • SECP Warns The Public Against A Company’s Fake Schemes on Social Media

    The Securities and Exchange Commission of Pakistan (SECP) has warned the public against investing in FS Links (SMC-Private) Limited, which has been trying to trap innocent people through fake schemes on social media.SECP has discovered that M/s...

    • Posted 11 months ago
    • 0
  • Fauji Meat Limited to Be Acquired Soon

    Fauji Fertilizer Bin Qasim Limited (FFBL) has announced that the company has been approached by a potential acquirer. The acquirer wants to enter into negotiations with the company for the acquisition of majority voting shares in Fauji...

    • Posted 11 months ago
    • 0
  • Major Progress Has Been Made on FATF’s Action Plan: SBP Governor

    State Bank of Pakistan (SBP) Governor Dr Reza Baqir has said that significant progress has been made between the May-September 2019 period to meet the action plan set by the Financial Action Task Force (FATF).He made the...

    • Posted 11 months ago
    • 0
  • Punjab Govt to Introduce a Unified Tax Collection System

    Punjab government is contemplating the introduction of a unified tax collection system in the province. The unified system will streamline the tax collection process and facilitate the taxpayers.At the moment, Punjab Revenue Department, Excise and Taxa...

    • Posted 11 months ago
    • 0