Chinese company to invest $ 50 million in Gwadar, Karachi
Optima Integration Group of China on Monday joined hands with Asia Pak Investments of Pakistan to invest $50 million in the first phase to develop agriculture power and logistics sectors in Gwadar and Karachi. The Board of Investment (BoI) facilitated the signing of a memorandum of understanding (MoU) between the two companies in this regard,…
Adil Aziz
Monetary Policy Statement
At today’s meeting, the Monetary Policy Committee (MPC) decided to raise the policy rate by 150 basis points to 13.75 percent. This action, together with much needed fiscal consolidation, should help moderate demand to a more sustainable pace while keeping inflation expectations anchored and containing risks to external stability. Since the last MPC meeting, provisional…
SECP releases Annual Report for FY 2020-21
The Securities and Exchange Commission of Pakistan (SECP) has released its annual report for the fiscal year 2020-21. The report covers the reforms undertaken with the objectives to ensure effective enforcement, improve access to finance, encourage capital formation, simplify regulatory processes and reduce costs of doing business. SECP Chairman Aamir Khan, in his message published…
Spotify continues its journey of acknowledging Pakistani women artists with Hadiqa Kiani as the third Ambassador for EQUAL
Hadiqa Kiani, Pakistan’s most prolific music icon, becomes EQUAL Pakistan’s Ambassador of the Month As EQUAL Pakistan continues to highlight a mix of iconic and emerging musical talents from the country, Spotify announces its third Ambassador of the month. The brand continues to celebrate women and their achievements in the field of music with Hadiqa…
foodpanda Pakistan partners with City Traffic Police for license renewal of its riders
Reinforcing its commitment to continue serving the community, foodpanda Pakistan collaborated with City Traffic Police for the license renewal of its riders at the riders hubs in Lahore. The license renewal drive was spread over two days where riders got their relevant documents validated according to applicable traffic guidelines. Few new riders were also issued…
Uzbek envoy hinted at possibility of Pak- Uzbekistan FTA
Ambassador of Uzbekistan to Pakistan, Aybek Arif Usmanov on Friday said that the possibility of signing a free trade agreement between Pakistan and Uzbekistan cannot be ruled out. A Preferential Trade Agreement (PTA) has been signed for the promotion of bilateral liberal trade between the two countries, which has a great potential to increase bilateral…
Govt committed to provide friendly environment to investors: Miftah Ismail
Federal Minister for Finance and Revenue, Miftah Ismail said here on Thursday that the incumbent government was committed to provide conducive and friendly environment to the investors and businessmen for the growth of economic activity and enhancement of exports. In a meeting with the Vice Chairman of Indus Motor Company, Shini Yanagi, the Finance Minister…
Rs1,949.72 million released for 13 petroleum sector projects in 10 months
The government has released funds amounting to Rs1,949.72 million to execute seven ongoing and six new petroleum-related projects during the first 10 months of the current fiscal year under the Public Sector Development Programme (PSDP 2021-22) against a total allocation of Rs3,249.54 million. Out of the total disbursement of Rs1,949.72 million, around Rs586.54 million have…
Pak, IMF kick off 7th review on EFF programme
Federal Minister for Finance and Revenue, Miftah Ismail held a virtual meeting with International Monetary Fund (IMF) Mission Chief on Wednesday, kicking off the 7th review on Extended Fund Facility (EFF) of the fund. According to press statement issued by the finance ministry, the meeting was attended by Minister of State for Finance and Revenue,…
SBP and IFC join hands to promote Agriculture Finance through Warehouse Receipts
Deputy Governor State Bank of Pakistan (SBP) Ms. Sima Kamil while addressing a two-day specialized training workshop on Electronic Warehouse Receipt Financing (EWRF) for banks observed that the subject training program will be instrumental to support SBP’s recent initiative to promote EWRF in the country and banks will be able to get hands on knowledge…