business and stock

Federal govt slashes prices of petroleum products for June

ISLAMABAD: The federal government has slashed prices of petroleum products for June due to a sharp decline in oil prices in the international market due to virus-fuelled lockdowns. Following the notification issued by the finance ministry today (Sunday), the price

Punjab to introduce new wheat procurement policy

LAHORE: Punjab Food Minister Abdul Aleem Khan has said the new wheat procurement policy is the need of the hour to provide maximum relief to farmers and the poor in the country. Abdul Aleem Khan expressed these views while presiding

Marriage halls association demands permission for reopening business

RAWALPINDI: The Marriage Halls and Caterer Associations have demanded permission from the government for reopening their business from 1st June which was closed due to the COVID-19 lockdown across the country. Chairman of the Caterers Association Mukhtar Abbas, Marriage halls

First cargo ship reaches Gwadar Port

ISLAMABAD: Special Assistant to the Prime Minister on Information and Broadcasting, Lieutenant General (retired) Asim Saleem Bajwa has said that the first bulk cargo ship reached the port city of Gwadar on Saturday. According to the China Pakistan Economic Corridor

Govt aims to help emerging sectors in post coronavirus: Razak Dawood     

ISLAMABAD: Advisor to Prime Minister on Commerce and Investment, Abdul Razak Dawood has said that the government’s aim was not only to facilitate the core export sectors but also to help the emerging sectors after the emergence of Coronavirus outbreak.

Sindh govt allows traders to open shops, markets on weekends

KARACHI: In an effort to facilitate traders, the Sindh government has allowed businesses and shopping malls to open on weekends. According to a notification, all shops, markets and shopping malls will open on Saturday and Sunday from 8:00 am to

Pakistani exporters obtained large orders for face masks, Dawood claims

ISLAMABAD: Adviser to the Prime Minister on Commerce and Investment Abdul Razak Dawood has said that he has received information that some Pakistani exporters have obtained large orders for face masks from the United State, Canada, and Europe. Taking to

Petroleum prices likely to be dropped

ISLAMABAD: Consumers are likely to face a reduction in prices of petroleum products by Rs. 5 to Rs. 10 in a move to provide relief to people. According to details, , the government has decided to slash the price of petroleum products by Rs. 5 to

Locust attacks destroy crops on large scale in Sindh, Punjab

SINDH, PUNJAB: Locusts attacked and harshly damaged cotton, mango and other crops in different cities of Sindh and southern Punjab, sparking fears of a looming food shortage in case the government fails to tackle the situation. The farmers have blamed

LESCO detects 39 tampered meters

LAHORE: The Lahore Electric Supply Company (LESCO) claimed to have detect tampering in 39 electricity meters out of a total of 2008 inspected in the Northern circle under the power-theft campaign of the Company in the province. According to a

World Bank approves $500mn loan for Pakistan

ISLAMABAD: World Bank approved a $500 million loan program to boost Pakistan’s emergency response amid the coronavirus pandemic and protect human capital investments in the country. The program would help the country improve access to quality healthcare and education, support

COVID-19 patients may experience cardiovascular problems: Study

LONDON: A recent study has stated that a few COVID-19 patients may experience serious cardiovascular complications. Researchers recently started paying attention to the relationship between the disease and cardiovascular symptoms as they assessed data from people who received medical care

ECC approves policy for local manufacturing of mobile phones

ISLAMABAD: The Economic Coordination Committee (ECC) of the federal cabinet on Thursday approved Mobile Device Manufacturing Policy to promote local manufacturing and assembly of mobile phone handsets. The policy was approved in a meeting of the ECC chaired by Adviser

Pakistan to receive Paris Club debt relief

ISLAMABAD: Pakistan is expected to receive a debt relief this year from the Paris Club.  The reports stated that Pakistan, among other countries will be granted a waiver as part of a global push to give debt relief to the

Moody’s places five banks under review for rating downgrade

ISLAMABAD: Moody’s has placed Pakistan’s five big banks for downgrade in ratings linked to their credit profiles emanating from the government’s potentially weakening creditworthiness in case of default on private debts. Credit rating agency Moody’s said it placed on review

ADB approves $300 million loan for COVID-19 relief

ISLAMABAD: The Asian Development Bank (ADB) has approved a $300 million emergency assistance loan to strengthen Pakistan’s public health response to the coronavirus pandemic and help meet the basic needs of vulnerable and poor segments of society. The project will

Hafeez Shaikh to chair ECC meeting in Islamabad today

ISLAMABAD: Adviser to PM on Finance Dr. Abdul Hafeez Shaikh is scheduled to chair an Economic Coordination Committee (ECC) meeting in the federal capital today. According to details, a nine-point agenda will be discussed during the meeting. During the meeting,

Govt raises Rs 200bn through Sukuk less than KIBOR rate: Hafeez Shaikh

ISLAMABAD: Adviser to PM on Finance Dr. Abdul Hafeez Shaikh on Wednesday expressed that the government has raised Rs 200 billion through Sukuk at less than KIBOR rate for the first time. In a tweet, Dr. Abdul Hafeez Shaikh said

Lockdown in Balochistan extended till June 2

QUETTA: The Balochistan government has extended the smart lockdown till 2nd June in a bid to control the spread of the coronavirus. According to the provincial home minister, all markets, auto repair shops, and haircutting salons will be allowed to

Minister ask employers to pay workers’ salaries

KARACHI: Sindh Minister for Industries & Commerce Jam Ikramullah Dharejo has asked employers in the province to implement the government orders of payment of salaries to all their staff and workers. While taking notice of the reports that factories and

Finance adviser urges BoI, FBR chiefs to facilitate foreign investors

ISLAMABAD: Adviser to the Prime Minister on Finance and Revenue Dr Abdul Hafeez Shaikh on Tuesday held a meeting with Chairman Board of Investment (BOI) Atif Bokhari and Chairperson Federal Board of Revenue (FBR) Nausheen Javaid Amjad. They discussed measures

Pakistan to receive $371m loan from World Bank

ISLAMABAD: Pakistan and the World Bank signed two agreements of $ 371 million to support projects in the agriculture and social sector.  World Bank’s country director Patchamuthu Illangovan signed the agreements on behalf of his organisation. The agreements were signed

Pakistan’s IT sector receives $35 million FDI despite lockdown

ISLAMABAD: Pakistan’s information technology sector has received $35.1 million Foreign Direct Investment (FDI) in July-April 2020. According to the State Bank of Pakistan (SBP), $35.1 million inflows and $2.5 million outflows were registered in the information technology sector during July-April

FPCCI donates Rs 20 million for PM’s Corona Relief Fund

ISLAMABAD: Federation of Pakistan Chambers of Commerce & Industry (FPPCI) President Mian Anjum Nisar and other office bearers called on Prime Minister Imran Khan and presented a cheque worth 20 million for the PM’s Corona Relief Fund. On the occasion,

Japan’s economy slips into recession amid pandemic

TOKYO: Japan dived into its first recession since 2015, according to official data on Monday as the world’s third-largest economy contracted by 0.9 percent in the first quarter amid the fallout from the coronavirus. The drop in gross domestic product

SC to hear suo-moto notice over COVID-19 today

ISLAMABAD: The Supreme Court’s recently formed new bench will hear the suo-moto notice over coronavirus pandemic. The new bench constituted by the Supreme Court to hear the coronavirus suo-motu notice will be headed by Chief Justice Gulzar Ahmed while Justice

India to privatise state-run companies amid coronavirus

NEW DELHI: India will privatise state-run companies in non-strategic sectors and stop fresh insolvency cases for a year, as the country battles with the economic challenge from the coronavirus. Indian Finance Minister Nirmala Sitharaman said, “The list of strategic sectors

Markets failing to implement SOPs will be closed, govt warns traders

ISLAMABAD: The National Command and Operation Centre (NCOC) has warned the traders and shopkeepers that non-compliance of standard operating procedures (SOPs) would result in the closure of markets. The NCOC meeting, presided by Minister for Planning Development Reforms and Special

FPCCI hails Pak-Afghan border opening for trade

KARACHI: Federation of Pakistan Chamber of Commerce and Industry (FPCCI) has welcomed the opening of the Pak-Afghan border to facilitate the business community of both sides. In a joint statement, President Federation of Pakistan Chamber of Commerce and Industry (FPCCI),

Pak-Afghan border opens for round the clock trade

PESHAWAR: The government has announced the opening of the Pak-Afghan border at Torkhem and Chaman posts round the clock for six days per week two months after the points were closed in a bid to control the spread of coronavirus.