Business

The federal government on Sunday decreased the petrol price by Rs 3.05 but increased the price of diesel by Rs 8.95 for the next fortnight. The new prices will be effective from August 1, 2022. The Finance Division, in its notification, said that in view of the fluctuations in petroleum…

Federal Minister for Finance and Revenue, Miftah Ismail on Sunday said that the government efforts to reduce imports have finally borne fruit. Imports in July 2022, as per Federal Board of Revenue (FBR) data, were only $5 billion compared to $7.7billion in June of last Fiscal Year, the Minister said…

Minister for Finance Miftah Ismail says the government is making all out efforts to enhance ease of doing business and provide export friendly environment to the business community in Pakistan.              He was talking to a delegation of Pakistan Gems Jewellery Traders and Exporters Association…

Pakistan has notified revised control lists of goods, technologies, material and equipment for export under the Export Control Act of 2004. In a statement today [Monday], the Foreign Office said the notification signifies Pakistan’s continuing resolve as a responsible nuclear state to advance the shared goals of non-proliferation and strictly…

Finance Minister Miftah Ismail has urged the real estate sector to contribute in the economic development of Pakistan. Talking to a delegation of DHA Estate Agents Association which called on him in Islamabad today [Tuesday], he highlighted the details about the proposed taxes on the real estate sector. The delegation…

Further decline in crude oil prices was recorded during trading in the global market. Brent crude fell 5.58 dollar to 11 113.1 a barrel during trading. On the other hand, US crude oil West Texas Intermediate (WTI) fell 6. 6.83 dollar to 10 109.56 a barrel. Earlier, experts said that…

Punjab government will present the provincial budget for next fiscal year tomorrow (Monday).  The provincial Finance Department spokesperson told media in Lahore that the next fiscal year’s budget would focus on pro-poor initiatives and controlling inflation. He said no new tax will be imposed in the budget while special concessions…

The federal government on Friday presented a proposed budget of Rs. 9.502 trillion for the fiscal year 2022-23. Following is the breakup of resources and expenditure for federal budget 2022-23:- TOTAL RESOURCES (I to V): Rs. In Billion:  9,502 (FBR) – Federal Consolidated Fund:  7,004 Non-Tax Revenue: 2,000 a) Gross…

To sensitize the private/business sector and incorporate their valuable input and suggestions, a pre-budget conference on Business, Agriculture and IT has been planned on Tuesday (June 7).The conference will provide opportunity to renowned businessmen, agriculturists and IT experts to deliberate, exchange new ideas and present recommendations on IT, Agriculture, Textile,…

Minister for Planning, Development, and Special Initiatives Ahsan Iqbal on Saturday said the size of the federal development budget under the Public Sector Development Programme (PSDP) has been set at Rs 800 billion for the upcoming fiscal year 2022-23. He said the Gross Domestic Product (GDP) growth target for the…

Coalition for Tobacco Control Pakistan (CTC-Pak), a coalition of more than 100 civil society organizations, has urged upon the government to raise taxes on cigarettes in the next budget as smoking is causing health hazards and increasing health expenditures in Pakistan.Coordinator, CTC-Pak said that raising the price of tobacco products…

The Small and Medium Enterprises Development Authority (SMEDA) will organize  one day training program on “Pakistan Single Window” for profitable business growth on 24th of this month. The workshop will be held at Pakistan Electric Fan Manufacturers Association (PEFMA), Gujrat, according to sources in the authority. The session will be…

The Pakistani rupee surpassed the anticipated level of Rs200 in the open market against the US dollar after shedding Rs2.5 on Wednesday. Meanwhile, in the interbank market, the local currency continued to be on a slippery slope, and with a fresh decline of Rs3.87, or 1.34% in a single day,…

 Dollar reached another high against the rupee, climbing past Rs194 in the interbank market, as analysts continue to express concern over the country’s rising import bill. According to the Forex Association of Pakistan (FAP), the greenback gained Rs1.30 from Friday’s close to reach Rs194.30 around 11:30am in the interbank trade.…

The Pakistan Stock Exchange was bearish on Monday. The KSE-100 Index closed today at 46539.59 points as compared to 46601.54 points on the last working day with a negative change of 61.95 points. The total turnover was 255,608,677 as compared to 365,789,899 on the last working day with G3 technologies…

The SAARC Chamber of Commerce and Industry Saturday praised the prudent decision of Pakistan for sending positive signals to India, US, China and other countries for better ties in the days to come for durable peace  in the region coupled with sustainable economic growth. Talking to a delegation of traders…

The Pakistan Stock Exchange was bullish today (Tuesday). The KSE-100 Index closed today at 46407.26 points as compared to 46144.96 points on the last working day with a positive change of 262.30 points. The total turnover was 493,597,955 as compared to 557,672,451 on the last working day with World call…

President SAARC Chamber of Commerce and Industry Iftikhar Ali Malik has said that Pakistan’s prudent decision of barter trade with Afghanistan and Iran would further strengthen trilateral trade relations and foster existing economic ties among the three neighbouring Muslim countries. Talking to a delegation of traders led by Waqas Anjum…

In Khyber Pakhtunkhwa, teams of district administration are monitoring prices of food items in Ramazan sasta bazaars. In a recent crackdown on Charsadda road, Assistant Commissioner Peshawar Umar Owais Kiani visited the butchers’ shops to review the price of meat. The Assistant Commissioner sealed the shops of butchers for selling…

Ambassador of Turkmenistan to Pakistan, Dean of Diplomatic Corps said that his country is keen to promote trade ties with Pakistan as both countries have good potential to do trade in many items. He was talking to President, Islamabad Chamber of Commerce and Industry Muhammad Shakeel Munir at the Embassy…

The Huawei released its 2021 Annual Report today, revealing that the company had maintained solid operations throughout the past year. As per the report, Huawei achieved USD 99.9 billion in revenue in 2021, and USD 17.8 billion in net profits, an increase of 75.9% year-on-year. The company’s R&D expenditure reached…