Business

The National Assembly has approved one hundred and three demands for grants pertaining to different ministries and departments for the next fiscal year. These were moved by Minister for Finance Muhammad Aurangzeb. No cut motions were moved on these demands for grants. These were related to Defense Division, Communications, Federal…

Pakistan’s Ambassador to the US Masood Khan has invited American entrepreneurs and corporate leaders to make investments in Pakistan in the areas of IT, energy, agriculture and mineral extraction. During his interaction with the US corporate leaders, entrepreneurs and business executives in Washington DC, he said Pakistan’s market has remained…

Finance Minister Muhammad Aurangzeb has said the budget for the next fiscal year is aimed at reducing fiscal deficit by focusing on measures that enhance the government’s revenues and reduce unnecessary expenditures. Winding up discussion on the budget 2024-25 in the National Assembly today, he said on the directions of…

The Embassy of the Republic of Indonesia in Islamabad in collaboration with COMSTECH jointly organize the international seminar on “Sustainability of Palm Oil Industry and its Derivative Products” at COMSTECH Auditorium, Islamabad . The international seminar aimes to raise more awareness of the sustainability of the palm oil from Indonesia…

Special Investment Facilitation Council (SIFC) is playing a pivotal role in bringing to use the country’s mineral resources. Many foreign investors have shown interest in the Reko Diq project. The signing of mutual partnership projects between Saudi Arabia and Pakistan is also part of this process. A separate division has…

A delegation of Pakistan Business Council led by its Chairman Shabbir Diwan called on Minister for Finance and Revenue Senator Muhammad Aurangzeb at Finance Division today. Minister of State for Finance and Revenue Ali Pervez Malik, Chairman of the Federal Board of Revenue Malik Amjed Zubair Tiwana also attended the…

Balochistan government has allocated three hundred and twenty one billion rupees for Annual Development Programme in next fiscal year budget. Minister for Finance Mir Shoaib Nosherwani addressing the post budget news conference in Quetta today said that all available resources would be utilized to increase revenue collection. He said government…

S&P Global, a provider of credit ratings, benchmarks, analytics and workflow solutions in the global capital, commodity and automotive markets is proud to celebrate its 19th anniversary of operations in Pakistan this month. Since its establishment in 2005, S&P Global Pakistan has been at the forefront of providing essential intelligence…

In a swift response to the government’s recent fiscal measures, the Pakistan LPG Market Association (PLMA) through its Vice Chairman Mr. Muhammad Ali Haider has vehemently rejected the significant increase in the Petroleum Development Levy (PDL) and the new 18% General Sales Tax (GST) on imported LPG. The association is…

Regional and country desks have been established in the Special Investment Facilitation Council Secretariat to accelerate the process of attracting foreign direct investment in the country. Six regional and country desks have been established to focus on the needs of foreign capital investment, which will be self-sufficient in all respects.…

Faysal Bank Limited (FBL)’s WhatsApp Banking Application has been honoured with the ‘Best Digital API’ Award at the Pakistan Digital Awards 2024. FBL’s WhatsApp Banking offers industry-leading User Interface (UI) and User Experience (UX). It comprises of a host of unique banking services revolutionising the way customers interact with their…

Faysal Islami Currency Exchange Co. (FICEC), a wholly owned subsidiary of Faysal Bank Ltd. (FBL) officially commenced operations in ten cities, marking a significant development for Pakistan’s financial sector. The inaugural ceremony was graced by Mr. Yousaf Hussain, President & CEO FBL, Mr. Syed Muhammad Fraz Zaidi, Chairman, FICEC. Mr.…

Presenting the budgetary proposals, Finance Minister said inflation is expected to remain 12 percent and budget deficit 5.9 percent of GDP. He said that 9,775 billion rupees have been earmarked for interest payment. Muhammad Aurangzeb said 1,400 billion rupees have been earmarked for Public Sector Development Programme 2024-25. He said…

The Federal Budget 2024-25 with a total outlay of 18877 billion rupees has been announced with focus on fiscal consolidation and relief measures for the common man. Presenting the budgetary proposals in the National Assembly this afternoon [Wednesday], Finance Minister Muhammad Aurangzeb said the gross revenue receipts have been estimated at 17815…

Minister for Finance Muhammad Aurangzeb has said the real GDP has posted a positive growth of 2.38 percent during the outgoing fiscal year as against the negative growth of the last year due to the prudent policy measures. Launching Economic Survey 2023-24 in Islamabad this evening, he said the robust growth…

The World Bank has approved one billion dollar additional financing for Pakistan to support Dasu Hydropower Project and the transition to clean and affordable energy. A decision to this effect was take in the World Bank’s Board of Executive Directors in Washington. According to a statement of the Bank, this…

Special Investment Facilitation Council has played a pivotal role ever since its establishment in providing a favorable environment to investment and business promotion in the country. Among the most important step taken is the provision of facility for investors in the IT sector to repatriate up to fifty percent of…

Pakistan Ambassador to China Khalil Hashmi says Chinese companies have shown great interest in Pak-China Business Conference. In his briefing regarding the conference, the Ambassador said around 700 hundred renowned Chinese companies have registered themselves to participate in the conference. He said Prime Minister Shehbaz Sharif will deliver his keynote…

Mondelez Pakistan has partnered with Shams Power to solarize its confectionary and powdered beverages plants and to take the installed capacity to around 2.2 MW of Solar on both sites. This initiative aims to enhance sustainability and reduce carbon emissions. Shams Power will install the equipment, manage the operation and…

Inflation in the country continues to fall while rupee witnesses stability against dollar for another consecutive month. According to the recent economic figures, government’s prudent economic policies have decreased the inflation rate to 11.8 percent during the month of May that is 3.2 percent lower than the previous month. It…

A day-long seminar is being organized by Special Investment Facilitation Council’s Green Pakistan Initiative at Pir Mehr Ali Shah Arid Agriculture University in Rawalpindi on Tuesday. The objective of this seminar is to educate the participants about  Plant for Pakistan project  and to encourage the youth to be a part…