Business

The Federal Government has announced to increase the prices of petroleum products in view of their record high prices in the international market. The announcement was made by Minister for Petroleum Ali Pervaiz Malik during a news conference in Islamabad tonight, flanked with Minister for Finance and Revenue Muhammad Aurangzeb.…

Divisional Director for Pakistan, Afghanistan and Central Asia at the International Finance Corporation (IFC) Simon Andrews called on Finance Minister Muhammad Aurangzeb in Islamabad. The IFC delegation briefed the Minister on its growing portfolio in Pakistan, which now exceeds two billion dollars annually, with approximately 2.7 billion dollars committed this…

Under the vision of Chief Minister Punjab Maryam Nawaz Sharif, work on a modern shrimp farming project worth Rs13 billion is progressing rapidly in Chak 58 North, Sargodha. Commissioner Sargodha, Hafiz Shaukat Ali, visited the site and reviewed the progress of the project. Spread over 500 acres, the project includes…

The Competition Commission of Pakistan (CCP) has imposed a penalty of PKR 75 million on Newage Cables (Pvt.) Ltd. and Rs. 190.22 million on GM Cables & Pipes (Pvt.) Ltd, for engaging in Resale Price Maintenance (RPM) practices in violation of Section 4 of the Competition Act, 2010. The Commission…

Finance Minister Muhammad Aurangzeb has emphasized the importance of coordinated efforts to structure viable investment opportunities. Talking to a delegation of Alvarez & Marsal in Islamabad today, he also stressed for engaging effectively with international financial institutions and partners. The Finance Minister expressed the government’s interest in developing concrete, actionable…

Minister for National Food Security and Research, Rana Tanveer Hussain has assured there is no shortage of Urea or DAP in the country He was chairing a weekly meeting of the Fertilizer Review Committee in Islamabad today to review the availability, distribution, and pricing of key fertilizers, particularly Urea and…

Pakistan and International Monetary Fund have reached Staff-Level Agreement on the Third Review for the 37-month Extended Arrangement under the Extended Fund Facility. The Finance Ministry of Pakistan, sharing a post on its X handle, said the two sides also reached the Second Review for 28-month Arrangement under the Resilience…

A safe and strong Pakistan in the evolving global scenario has become an attractive destination for investment and global trade. According to the Pakistan Index, Pakistan has now become a trade hub for the entire world with the net security stabilizer. A record historic increase has been witnessed in the…

On the directives of Prime Minister Shehbaz Sharif, the Government of Pakistan has decided to expand the scope of the Roshan Digital Account. According to the Prime Minister’s Office, under the expanded framework, foreign nationals, companies, and institutional investors will now be allowed to invest in the Roshan Digital Account,…

Pakistan-China partnership in industry, agriculture and mineral sectors has entered a new phase. Chinese Consul General Sun Yan recently paid an important visit to Lahore Chamber of Commerce and Industry. During the visit, discussions focused on the development of IT, agriculture, mineral resources, and industrial sectors. According to the Chamber…

Prime Minister Shehbaz Sharif has directed the authorities concerned to expedite the export of surplus food items to Gulf countries without affecting domestic food requirements. He was chairing a review meeting on exports of essential food items to the Gulf countries and Pakistan’s Maritime Operations in wake of current regional…

Minister for Finance Muhammad Aurangzeb says government is making all out efforts to ensure availability of petroleum products across the country. Talking to media in Lahore on Sunday, he said petrol, diesel, and LPG are easily available in all cities and towns and strict monitoring is being ensured for energy…

Prime Minister Muhammad Shehbaz Sharif has approved a significant increase in the levy on high-octane fuel used by luxury vehicles. The decision was taken during a high-level meeting chaired by the Prime Minister via video link, where he reviewed matters related to fuel pricing and economic relief. Under the new…

Prime Minister Shehbaz Sharif has expressed confidence that the introduction of 5G spectrum technology will be a milestone for the country’s agriculture and industry. He was addressing a ceremony in connection with the award of 5G spectrum licenses in Islamabad today. The Prime Minister expressed satisfaction over the transparent auction…

A meeting of the Committee to Monitor Petrol Prices was held in Islamabad today with Finance Minister Muhammad Aurangzeb in the chair. The Committee was briefed that, despite heightened volatility in international energy markets and evolving regional dynamics, domestic supply remains stable with adequate stocks available across the country. It…

Pakistan has posted the current account surplus of 427 million dollars in February this year, the highest since March of last year. Sharing recent key positive economic indicators, Adviser to the Finance Minister Khurram Schehzad in a post on X handle, highlighted that remittances grew by eleven percent in the…

The Competition Commission of Pakistan (CCP) has authorized the acquisition of shares of Jura Energy Corporation by IDL Investments Limited from Phoenix Exploration Limited, following a review under the Competition Act, 2010. The transaction involves the purchase of common shares of Jura Energy by IDL Investments pursuant to a Share…

Prime Minister Muhammad Shehbaz Sharif directed the Pakistan Railways to increase the number of freight trains. According to official sources here on Monday, measures to shift cargo transport from roads to rail are being accelerated. The Pakistan Railways has started contacting chambers of commerce and commercial organizations. Traders and industrialists…

Pakistan’s foreign exchange reserves have reached four-year high due to the reforms of Special Investment Facilitation Council and policy continuity. According to the Finance Minister’s Advisor Khurram Schehzad, Pakistan’s total foreign exchange reserves have reached 21.6 billion dollars, the highest level in the past four years. Of these reserves, 16.3…

Pakistan’s Embassy in Tokyo organized a tourism promotion event in collaboration with Saiyu Travels to highlight Pakistan’s vast tourism potential and diverse travel experiences. Speaking on the occasion, Pakistan’s Ambassador to Japan, Abdul Hameed, said Pakistan offers a unique blend of breathtaking natural beauty, majestic mountain landscapes, rich cultural heritage…

The Committee to Monitor Petroleum Prices says petroleum product stocks remain at comfortable levels and supply chains are functioning smoothly, with adequate arrangements in place to ensure continuity of supply in the coming weeks. The Committee which virtually met today with Finance Minister Muhammad Aurangzeb in the chair undertook a…