Business

Latest Pakistan News

Weekly inflation eases 0.67 percent

The Sensitive Price Indicator (SPI) based weekly inflation for the week ended on November 25, for the combined consumption group, witnessed decrease of 0.67 percent as compared to the previous week, Pakistan Bureau of Statistics (PBS) reported Friday. According to APP The SPI for the week under review in the above mentioned group was recorded at 168.16 points against 169.29...

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Latest Pakistan News

Weekly inflation eases 0.67 percent

The Sensitive Price Indicator (SPI) based weekly inflation for the week ended on November 25, for the combined consumption group, witnessed decrease of 0.67 percent as compared to the previous week, Pakistan Bureau of Statistics (PBS) reported Friday. According to APP The SPI for the week under review in the above mentioned group was recorded at 168.16 points against 169.29...

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interbank market

Dollar hits new high of Rs 176.40 in interbank market

Dollar at interbank has been increased by 48 paisa to close at Rs175.46 today (Friday). Sources told that dollar at open market has crossed Rs176 level after a rise of Re1. It is to be mentioned here that dollar had earlier closed at record high of 175.73 at interbank on November 12. Earlier, US Dollar (USD) had closed at Rs174.98...

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Shaukat Tarin

Shaukat Tarin reaffirms govt’s full support to investors, business community

Adviser to the Prime Minister on Finance Shaukat Tarin has reaffirmed government's full support and facilitation to investors and business community. He was talking to a delegation of Citibank Pakistan led by its President and Country Director for Pakistan Ahmed Bozai in Islamabad on Thursday. The adviser appreciated the contribution of Citibank in strengthening the business and economic activities of...

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Latest Pakistan News

Imported tea consumption goes down slightly

The consumption of imported tea witnessed slight decrease of 0.55 during the first four months of the current fiscal year as compared to the corresponding period of last year. The tea imports during July-October (2021-22) stood at $188.307 million against the imports of $189.339 million during July-October (2020-21), according to data of Pakistan Bureau of Statistics (PBS). In terms of...

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International Monetary Fund IMF

Pakistan, IMF reach staff-level agreement

Pakistan and the International Monetary Fund have reached a staff level agreement on policies and reforms to complete the sixth review under six billion dollars Extended Fund Facility. The agreement is subject to approval by the Executive Board of the IMF. According to a statement by the IMF, completion of the review would make available about 1059 million dollars to...

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The World Bank

World Bank says remittances of Pakistan grew by 26% percent during current fiscal year

The World Bank has said this year Pakistan has another year of record remittances with growth at 26 percent and levels reaching 33 billion dollars. The World Bank in its report said the government’s ‘Pakistan Remittance Initiative’ to support transmission through formal channels attracted large inflows. Read More : WB SAYS PAKISTAN’S REMITTANCES GREW BY 26% IN 2021  

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Pakistan

WB says Pakistan’s remittances grew by 26% in 2021

Compared to the overall growth of 8 percent in remittances in South Asia, the remittances into Pakistan grew by 26 percent during the year 2021, according to estimates from the World Bank’s Migration and Development Brief. According  to  APPP “Pakistan had another year of record remittances with growth at 26 percent and levels reaching $33 billion in 2021,” says the...

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Pakistan Exports

Exports increase by 25.2% to Rs1.57 trillion in 4 months

The exports from the country in rupee term witnessed an increase of 25.2 per cent during the first four months of the current fiscal year as compared to the corresponding month of last year, Pakistan Bureau of Statistics (PBS) reported. According to PBS provisional figures, the exports from the country during July-October (2021-22) were recorded at Rs1,570,444 million as against...

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Exports

Pakistan’s exports to China to be doubled in next 3-5 years: Moin-ul-Haque

Pakistan Ambassador to China, Moin-ul-Haque has said China is now Pakistan's largest trading partner as the overall bilateral trade has witnessed unprecedented increase of more than 60 percent since the launch of the second phase of the Free Trade Agreement in January last year. During his visit to the 4th China International Import Expo (CIIE), being held in Shanghai, he...

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wheat price

Govt decides to increase wheat’s minimum support price to Rs1950/40kg

To achieve self-sufficiency in wheat, the government has decided to increase its minimum support price to 1,950 rupees per 40 kilogram, as compared to 1,800 rupees per 40 kilogram last year. According to an official statement, this step has been taken to incentivise farmers to grow sufficient wheat to meet the national production target of 28.90 million metric ton. The...

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Abdul Razak Dawood

Pakistan’s non-energy import bill decrease by 12.5 percent in October

Advisor to the Prime Minister on Commerce and Investment, Abdul Razak Dawood Friday was informed that Pakistan’s non-energy import bill has decreased by 12.5 percent in October 2021. Pakistan’s non-energy import bill has decreased by 12.5 percent, a decrease of USD$ 624 million, compared to September 2021, he briefed. The Advisor Commerce chaired a meeting to discuss the imports of...

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Pakistan’s textile exports

Despite Covid-19, Pakistan’s textile exports reach historic level of $6b:Farrukh Habib

Minister of State for Information and Broadcasting Farrukh Habib has said regardless of Covid-19, the volume of country's textile exports reached historic level of six billion dollars during the first four months of current fiscal year. In a tweet on Wednesday, he said the textile exports are twenty seven percent higher than the corresponding period last year. Farrukh Habib recalled...

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Consumer Price Index (CPI)

CPI inflation remains in single digit at 9.1% in October

The Consumer Price Index (CPI), based on monthly inflation, remained in single digit by witnessing an increase of 9.19 percent during the month of October 2021 as compared to the corresponding month of the last year, Pakistan Bureau of Statistics (PBS) reported Friday. The Urban CPI was recorded an increase of 9.55% while Rural CPI recorded an increase of 8.66%,...

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Shaukat Tarin

Govt pursuing agenda of making Pakistan hub of regional trade, transit: Tarin

Adviser on Finance Shaukat Tarin has reaffirmed the government's determination to facilitate and provide an enabling environment to the businesses including small and medium enterprises for growth and innovation. Addressing an event in Islamabad on Monday, he said we consider Pakistani business community as the biggest asset of the country and it is these entrepreneurs and industrialists that will shape...

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Govt targeting Central Asian Region to boost exports: Razak

Adviser to the Prime Minister on Commerce Abdul Razak Dawood says the government is targeting Central Asian Region to boost national exports. In a meeting with the business community at the Lahore Chamber of Commerce and Industry, he said viable policies of the government have improved considerably country’s export diversification during the last three years. The Adviser said that Truckers...

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2nd Pakistan Africa Trade Development Conference to be held in Nigeria

Adviser on Commerce Razak Dawood has announced to hold the second Pakistan Africa Trade Development Conference at Lagos in Nigeria from 23rd of next month. In a tweet, he said over one hundred companies from Pakistan will participate in the three day event. He said the government is committed to geographic and product diversification of exports.

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