business and stock

Sindh govt again changes closure day as coronavirus cases rise

KARACHI: The Sindh Home Department today (Thursday) has issued new directives regarding the markets and trade centres for their closure days. Under the new instructions, trade activities will be completely closed on Friday and Sunday. “All commercial/business markets will observe

PM Imran launches programme for empowerment of fishermen

ISLAMABAD: Prime Minister Imran Khan on Thursday launched a programme for the empowerment of fishermen, which will enable them to get loan concessionary loans under the Youth Entrepreneurship Scheme (YES) of the Kamyab Jawan Programme. In this regard, the Ministry

PM Imran directs EAC against imposing more taxes on masses 

ISLAMABAD: Prime Minister Imran Khan has directed the Economic Advisory Council (EAC) not to impose more taxes on the people, saying that out of box solutions should be suggested to provide relief to them. “Reforms in the tax system and

First auction phase of 47 commercial plots in KDA completed

KARACHI: The Karachi Development Authority (KDA) has completed the first auction phase of 47 commercial plots on Wednesday. In the first phase, KDA auctioned 18 plots in Korangi and eight plots in Surjani Town in the metropolis. The total revenue

FBR introduces automated system for scanning of Cargo

LAHORE: The Federal Board of Revenue (FBR) has introduced a new automated system for scanning containerized consignments of industrial raw materials for quick clearance at ports in the country. According to FBR, the introduction of the Non-Intrusive Inspection System (NIIS)

Cotton yarn import is only solution to save textile industry: NKATI President

KARACHI: North Karachi Association of Trade & Industry (NKATI) President Faisal Moiz Khan has appealed to the government to allow the import of cotton yarn and end all taxes and duties to allow the textile industry compete with regional countries

Businessmen urge PM to formulate stable economic policies

KARACHI: Several prominent businessmen and industrialists have urged Prime Minister Imran Khan to formulate lasting and stable economic policies to steer the country out of economic crisis. Federation of Pakistan Chambers of Commerce & Industry (FPCCI) Vice President Hanif Lakhany,

Iran lifts restrictions on import of Pakistan’s kinnow

ISLAMABAD: Foreign Minister Makhdoom Shah Mahmood Qureshi said that Iran has lifted restrictions on import of kinnow (citrus) from Pakistan which had been in place since 2012. Pakistan has witnessed a decline in kinnow exports this year due to to

KDA set to auction commercial plots on April 21-22

KARACHI: The Karachi Development Authority (KDA) is set to auction 47 commercial plots on April 21-22. As per details, there are a total of 47 commercial plots and one residential plot up for auction. These plots lie in Korangi Township,

Foreign investment drops by 40% in March 2021

KARACHI: Foreign direct investment (FDI) in different sectors of Pakistan’s economy like power, telecoms, financial business, and oil and gas production dropped 40 percent to $167.6 million in March 2021. The State Bank’s latest data issued on Tuesday showed the

PM Imran reaffirms resolve to cement trade ties with Russia

ISLAMABAD: Prime Minister Imran Khan on Monday held a meeting with a delegation of top Russian businessmen in Islamabad and reaffirmed to strengthen collaboration between the two counties in several sectors, including economy and trade. According to a statement released

PIA to operate direct flights between Karachi, Skardu

KARACHI: Pakistan International Airlines announced to operate Karachi-Skardu-Karachi direct flights to facilitate tourists and residents of Gilgit Baltistan. A spokesman for the PIA said an Airbus A320 flight would take off from Karachi after making sure that the weather conditions

Chinese trade experts to visit Pakistan for exploring new investment venues

ISLAMABAD: A Chinese trade expert delegation will visit Pakistan to explore new investment venues in different sectors. As per details, the Chinese experts would also explore investment opportunities including roads and infrastructure development, energy, agricultural, industrial machinery and technology. Chief

Ex-Secretary to head FPCCI top-level policy board

KARACHI: Federation of Pakistan Chambers of Commerce and Industry (FPCCI) has formed a Policy & Research Board comprising of top-level economic, business, trade, and industry experts. The Executive Committee FPCCI approved the proposal unanimously during April 14 during a meeting

Rawalpindi traders demand extension in market hours

RAWALPINDI: The Central President of Anjuman-e-Tajiran Punjab, Sharjeel Khan has demanded an extension in business hours in Ramadan. In an exclusive interview with MM News, Sharjeel Khan urged the government to review its notification to close businesses by 6 pm

Pakistan’s economic diplomacy is yielding positive results despite Covid-19: Qureshi

DUBAI: Foreign Minister Shah Mehmood Qureshi has said that Pakistan’s economic diplomacy is yielding positive results despite the Covid-19 pandemic. Addressing at the Iftar dinner hosted by Pakistan Business Council Dubai in Dubai today (Saturday) Qureshi said that through economic

Industrialists, Site Limited agree on joint strategy to improve infrastructure

KARACHI: SITE Limited and SITE Association of Industry have agreed to adopt a joint strategy and take measures with mutual consent to resolve infrastructure issues of SITE area – the oldest and largest industrial area of Pakistan. Newly appointed Managing

Sindh govt announces new shop timings, closure days

KARACHI: The Sindh government has issued new directives regarding the markets and trade centres for their timings and closure days. The schedules issued by the Sindh home department on Friday impose new restrictions in a bid to curb the COVID-19

Punjab govt approves six road projects in Lahore

LAHORE: Punjab Chief Minister Sardar Usman Buzdar has approved six road projects and four model graveyards in Lahore. During a meeting chaired by CM Buzdar on Friday approved five projects for the Mianwali district and four for Lahore.  The chief

Govt slashes petrol price by Rs1.79

ISLAMABAD: The PTI-led federal government announced a reduction of Rs1.79 per litre in the price of petrol, announced Federal Minister for Finance Hammad Azhar today (Thursday). Taking to Twitter, the federal minister announced that the government has reduced the price

Petroleum prices likely to be reduced by Rs2 per litre

ISLAMABAD: The prices of petroleum products are expected to be reduced by up to Rs2 per litre. The Oil and Gas Regulatory Authority (OGRA) has forwarded a summary to the Petroleum Division seeking revision of fuel prices for the next

ECC withdraws customs duty on cotton yarn import

ISLAMABAD: The Economic Coordination Committee (ECC) of the federal cabinet withdrew customs duty on import of cotton yarn till June 30, to ensure smooth supply of the commodity to the industry, while bridging the gap between domestic production and overall

Wholesalers announce strike against heavy fines in Karachi

KARACHI: Wholesalers Grocers Association has announced a strike tomorrow against heavy fines by the administration in Karachi. President Karachi Wholesalers Grocers Association Abdul Rauf Ibrahim said that all wholesale markets including Jodia Bazaar will remain closed tomorrow against the fines

EFP President lauds govt’s efforts in vaccinating public

KARACHI:  President of Employers’ Federation of Pakistan Ismail Suttar appreciated the efforts of the government and other authorities during the ongoing coronavirus vaccination drive. In a statement, the businessman appreciated the role of the government of Pakistan, Health Ministry and

Automobile sales increase 31% during fiscal year

ISLAMABAD: The sale of cars during first three quarters (July-March) of current fiscal year increased by 31 percent as compared to the period of last year. According to data released by Pakistan Automobile Manufacturing Association (PAMA), as many as 112,244

Pakistan to open consulate in Munich soon: FM Qureshi

BERLIN: Foreign Minister Shah Mahmood Qureshi has announced that Pakistan will soon open a consulate in Munich for economic purposes. While talking to the media in the German capital on Tuesday, FM Qureshi said Pakistan and Germany had high prospects of

40th anniversary: Dawlance launches special-edition product

KARACHI: Dawlance is celebrating its 40th Anniversary by introducing a new range of high-performance home appliances. With extensive research, this technology-leading enterprise of Pakistan has gained deep insights into the evolving needs and preferences of its customers. Whereby, revolutionary features are

Banks to remain closed for public dealing on 1st Ramadan

KARACHI: The State Bank of Pakistan has announced that all banks will remain closed for public dealing on 1st Ramadan which will be observed as a Bank Holiday for deduction of Zakat, as usual. All banks, Development Financial Institutions (DFIs),

Bank Alfalah, Telemart sign MoU to drive business expansion

KARACHI: Bank Alfalah and  Telemart have signed a memorandum of understanding (MoU) for digitizing cash transactions, enabling instant delivery of products to Bank Alfalah customers on easy monthly installments, facilitating customers with easy returns and integrating venues of merchant business.

Pakistan’s economy to grow 3% in FY21, says Governor SBP

KARACHI: Governor State Bank of Pakistan (SBP) Reza Baqir has expressed confidence that the country’s economy would grow by 3% during the current fiscal year 2020-21 despite the obstacles created by COVID-19 third wave. “We are entering the third COVID-19