Business

Pakistan and Turkiye have reaffirmed the resolve to utilize the optimum potential of their bilateral trade and increase it to five billion dollars. The commitment was expressed during meeting between Foreign Minister Ishaq Dar and his Turkish counterpart Fidan Hakan on the margins of Nuclear Energy Summit in Brussels today.…

Oil refining company Cynergico has announced to upgrade its operations in Pakistan at par with international standards for producing higher profit petrol and diesel products. Under the project, the company aims to double its processing capacity to 50 thousand barrels which in turn will boost domestic oil refining in the…

Ambassador of Iran to Pakistan, Dr. Reza Amiri Moghadam has said that  annual volume between Pakistan and Iran trade can be increased up to five billion dollars in the coming few years. Addressing the business community in Islamabad the envoy said there is a strong possibility of doubling the bilateral…

Minister of Energy Musadik Malik has said there will be no further increase in the circular debt at the close of this year. Addressing a news conference in Islamabad today, he mentioned that the circular debt was around 2310 billion rupees at the end of last year. The Minister of…

Finance Minister Muhammad Aurangzeb says the government is considering strategies to broaden the tax base by incorporating wholesale, retail, real estate and agriculture sectors into the tax framework. Chairing an introductory meeting with the board members of Federal Board of Revenue in Islamabad today, he also stressed the urgent need…

Pakistan has achieved a milestone in regional trade as transportation of fruits has been started to Russia via land route. In this regard, sixteen trucks of National Logistics Corporation laden with oranges have been entered into two Russian cities of Derbent and Grozny by covering almost six thousand kilometers’ distance.…

A delegation of 15 UK business representatives is visiting Pakistan to build links in the textiles, agrifood, handicrafts and home decoration sectors. The delegation, led by the Presidents of the Birmingham, West and North Yorkshire Chambers of Commerce, and the Asian Chamber of Commerce, will meet members of chambers of…

Pakistan and Saudi Arabia on Wednesday agreed to enhance bilateral trade between the two brotherly countries and improve investments in various sectors including construction, digital economy and infrastructure.   The agreement was reached during a meeting of Caretaker Minister for Commerce, Gohar Ejaz with the Saudi Minister for Commerce, Dr.…

Pakistan’s exports to the seven regional countries witnessed an increase of 21.68 per cent in the first seven months of the financial year (2023-24) as compared to the corresponding months of last year.   The country’s exports to the regional countries including Afghanistan, China, Bangladesh, Sri Lanka, India, Nepal, and…

The Federal Board of Revenue (FBR) collected Rs.5.150 trillion since July 2023 to mid of February 2024 against Rs.3.973 trillion over the same period last fiscal year, showing growth of 30 percent.   During the course of this period, tax refunds grew by more than 28 percent, according to press…

Chairman Senate Sadiq Sanjrani has encouraged American investors to explore lucrative business opportunities in Pakistan. He was talking to a delegation of American investors, led by President and Chairman of the Board of Directors at Miracle Saltworks Collective Inc. USA, Ahmad Nadeem Khan who called on him in Islamabad. The…

Ambassador of Pakistan to United Arab Emirates Faisal Niaz Tirmizi Monday inaugurated the Pakistan Pavilion at the World Trade Center Dubai. On this occasion, he visited various stalls and had detailed discussions with the Pakistani exhibitors.According to the Press Counselor of Pakistan in Dubai, the Pakistani ambassador to the UAE…

Pakistan Railways has collected an amount of Rs 74.8 million from ticket-less passengers in a crackdown during the three two months with the help of railway police and train staffers. “Around 58,446 passengers found travelling without tickets in different trains and collected the said amount from them, which is deposited…

Faysal Bank Limited, a leading Islamic financial institution known for its commitment to technological innovation with Sharia compliance, announced a strategic collaboration with OPay, a global fintech giant with a proven track record in providing cutting-edge digital payment solutions. The collaboration aims to empower the entire spectrum of small, medium,…

The cigarette industry is experiencing a surge in illegal trade in recent months, particularly following a significant excise increase in February 2023. Fuelled by this excise hike, industry sources have revealed a concerning trend of widespread availability of counterfeit cigarettes in the market, affixed with fake stamps. This raises serious…

A business linkiges hackathon was organized in six districts of Balochistan, Quetta, Pashin, Kharan, Nushki, Musa Khel and Zhob, under the auspices of Taraqee Foundation with the technical support of European Union,PPAF under the GRASP program to promote better coordination for entrepreneurs. The Hackathon organized for Farmers, FAO, Livestock, BRSP,…

Raqami Islamic Digital Bank has entered into an exclusive agreement with Codebase Technologies to procure its DigiBanc Suite as the core technology stack of the bank. Digibanc Suite is an award-winning, cloud-enabled, API-driven, and highly adaptable digital banking platform allowing institutions to deliver inclusive digital financial services. The platform features…

182 tons of dried chili peppers from Pakistan arrived Saturday afternoon in Neijiang City, southwest China’s Sichuan Province. This was the first batch of imported dried chili peppers under the China-Pakistan Economic Corridor Agricultural Cooperation Project.The China-Pakistan Economic Corridor is an important pilot project of the“Belt and Road Initiative”. In…

Caretaker Minister for Planning Muhammad Sami has reiterated Pakistan’s commitment to provide secure business environment for investors. Talking to a high-profile business delegation of China, led by the Chairman of Chang Chinag Chamber of Commerce Li Ting in Islamabad today, he said that the government encourages foreign investment, especially Chinese…

Indus Motor Company, the assembler of Toyota vehicles in Pakistan, has recently launched its Hybrid Electric Vehicle (HEV) Corolla Cross, which the company says is 50% localised in terms of its value. The company also sees the near-term future of the auto sector in Pakistan as viable for hybrid cars. The…

A meeting of the Executive Committee of Special Investment Facilitation Council was held in Islamabad today with Caretaker Minister for Planning and Development Muhammad Sami Saeed in the chair. The Committee lauded the overall progress in diverse fields and the level of economic ties with friendly countries, especially the signing…