Business

The federal government on Wednesday reduced the petrol price by Rs6.17 per litre for the next fortnight after a drop in oil rates in the global markets, according to a statement issued by the PM Office. The new prices will be effective from August 1. The Oil and Gas Regulatory…

Finance Minister Muhammad Aurangzeb has reiterated the government’s commitment to support Gilgit-Baltistan’s development for overall economic growth. He was chairing meeting of the committee on the issues of Gilgit-Baltistan in Islamabad today. The meeting was attended by Minister for Kashmir Affairs and Gilgit-Baltistan Amir Muqam, Gilgit-Baltistan Finance Minister Muhammad Ismail,…

Prime Minister Shehbaz Sharif has said a strategy is being implemented to attract the Foreign Direct Investment (FDI) for building Information Technology (IT) infrastructure. Talking to a three-member delegation of Asia Internet Coalition led by Managing Director Jeff Paine in Islamabad today, he said the government is working on the…

There has been an increase of seventeen percent in foreign direct investment in the country due to business friendly policies by Special Investment Facilitation Council. According to the data released by the State Bank of Pakistan, foreign investment touched 1.9 billion dollars during the fiscal year 2024. Foreign direct investment…

Fitch Ratings has upgraded Pakistan’s Long-Term Foreign-Currency Issuer Default Rating to ‘CCC+’ from ‘CCC’. According to Fitch, the upgrade reflects greater certainty over continued availability of external funding, in the context of Pakistan’s staff-level agreement with the IMF on a new 37-month seven billion dollars Extended Fund Facility. It said…

Finance Minister Muhammad Aurangzeb says Pakistan’s upgraded sovereign credit rating under Fitch’s recent report is the reflection of our efforts to achieve macroeconomic stability during last couple of months. Addressing media in Islamabad today, he said the process of tabling the Staff Level Agreement with IMF played a crucial role…

Minister for Privatization Abdul Aleem Khan has emphasized the immediate need for a transparent privatization process within the specified time frame. Chairing a meeting of the Privatization Commission Board today, he said privatization plays a crucial role in the country’s economic development. Abdul Aleem Khan said enterprises transitioning to the…

Minister for Privatization and Board of Investment Abdul Aleem Khan has directed to ensure quality and speedy construction of Business Facilitation Center (BFC) in the federal capital. During his visit to the under construction Business Facilitation Center in Islamabad today, he said following the pattern of this model facilitation center,…

Federal Minister of Investment Board, Privatization and Communications Abdul Aleem Khan on Wednesday said that Pakistan is extending business visa facility to investors from 124 countries including China and invited more Chinese companies to invest in different sector of national economy. Abdul Aleem Khan along with Minister for Commerce Jam…

Minister for Privatization Abdul Aleem Khan has said loss making institutions are being privatized to strengthen the country’s economy. Talking to the French Ambassador Nicolas Galle in Islamabad, he said these institutions have the potential to earn profit and perform better. Abdul Aleem Khan expressed the government’s commitment to complete…

Moody’s Ratings representatives have expressed confidence in Pakistan’s economic trajectory underpinned by robust fiscal reforms and strategic initiatives. They were attending a zoom meeting with Finance Minister Muhammad Aurangzeb today. The Minister commenced the session by giving an update on Pakistan’s economic outlook. He highlighted the foreign exchange reserves surpassing…

Kuwait has assured to provide all possible support to strengthen Pakistan’s economy and promote bilateral cooperation. The assurance was given by Kuwaiti Ambassador to Pakistan Abdul Rahman Almutairi during a meeting with Minister for Privatization Abdul Aleem Khan in Islamabad. Referring to the importance Kuwait accords to its relations with…

Finance Minister Muhammad Aurangzeb has reiterated government’s commitment to improve the tax-to-GDP ratio as part of ongoing fiscal consolidation measures. He was speaking at a zoom meeting with the representatives from Fitch Ratings led by Senior Director Thomas Rookmaker, Directors Asia Pacific Sovereign Mr. Krisjanis Krustins and Mr. Jeremy Zook…

 Islamabad is set to revolutionize its advertising landscape with the introduction of a new digital billboard policy, finalized by CDA chairman Muhammad Ali Randhawa, to be implemented by Monday. The policy aims to replace traditional advertising methods with modern digital displays, transforming the city’s streets into a vibrant showcase of color…

Faysal Bank’s (FBL) digital innovation is always a step ahead. The Bank recently announced its partnership with Shell Pakistan, where participants will get a chance to win FREE Fuel for the entire year. Faysal Bank customers can now make payments at any POS terminal, only by tapping their phone, and…

Special Investment Facilitation Council plays a significant role in development of real estate projects to increase foreign investment in the country. According to the details, an agreement has been reached between the world-renowned company Reportage Properties of the United Arab Emirates and the well-known Pakistani company Empire Holding. The agreement…

Special Investment Facilitation Council has signed an agreement with UAE’s Consultancy Company AT Kearney Middle East Limited for promotion of investment in the country’s diverse sectors. The UAE company will provide expertise over a period of eighteen months focusing on a number of key areas to drive foreign investment. The…

International Monetary Fund and Pakistan have reached a staff-level agreement on a 37-month Extended Fund Facility Arrangement (EFF) of about seven billion dollars. This agreement is subject to approval by the IMF’s Executive Board. According to the international lender, the new program aims to support Pakistani authorities’ efforts to cement…

Pakistan and Azerbaijan have agreed to enhance bilateral trade and investment relations. On the sidelines of the visit of the President of Azerbaijan to Pakistan, a high-level official delegation from Azerbaijan held meeting with the Pakistan side. The Pakistani side, led by Minister for Petroleum Dr. Musadik Malik, briefed about…

A meeting of the Advisory Committee meeting on the “Release of International Mobile Telephony (IMT) Spectrum for Improvement of Next Generation Mobile Broadband Services in Pakistan” was held in Islamabad today. Finance Minister Muhammad Aurangzeb chaired the meeting while Minister of State for IT and Telecommunication Shaza Fatima Khawaja, Chairman…

Raqami Islamic Digital Bank Pakistan, a visionary digital financial institution, and Paysys Labs Pvt Ltd, a leading payment technology provider, today announced a strategic partnership to transform Pakistan’s digital payments landscape. The collaboration aims to develop an innovative digital payment solution integrating real-time payment systems such as RAAST. Paysys Labs,…