Rupee weakens by Rs 3.43 against US Dollar
Pakistani rupee on Wednesday (August 16) witnessed a Rs 3.43 devaluation against the US dollar in the Interbank trading; closing at Rs 294.93 against the previous day’s closing of Rs 291.50. However, according to the Forex Association of Pakistan (FAP), the buying and selling rates of the dollar in the open market stood at Rs…
Adil Aziz
Pakistani mangoes to embark on first land journey to Xinjiang this year
A Karachi based logistic enterprise will transport mangoes from Pakistan to Xinjiang Uyghur Autonomous Region through land route this month. “We are planning to export [Pakistani] mangoes after 10th June this year to Xinjiang via land route,” Tayyab Khan, CEO of logistics company Sadequain Shipping Line. Having succeeded in shipping the first land containerized seafood…
ECC approves fixation of maximum retail prices of 4 new cardiac stents
The Economic Coordination Committee (ECC) of the Cabinet considered and approved a summary of the Ministry of National Health Services, Regulations and Coordination regarding fixation of Maximum Retail Prices of four (04) new Cardiac Stents recommended by National Price Fixation Committee for Life Saving medical devices. The ECC further approved two summaries of Ministry of…
China pledges $100 Million additional aid to flood-hit Pakistan
China is pledging an additional $100 million to continue supporting Pakistan’s recovery efforts from the devastating 2022 floods, announced Luo Zhaohui, chairman of the China International Development Cooperation Agency (CIDCA). Also, regarding the technical assistance, from 2023 to 2025, China plans to train 1,000 technical staff and officials focusing on disaster prevention and management, Luo…
World food prices hit record high in 2022 despite December fall
World food prices eased in December marking the ninth consecutive monthly fall, but gained more than 14% in 2022 compared to the previous year, to reach the highest since records began, the U.N. food agency said on Friday. The Food and Agriculture Organization’s (FAO) food price index, which tracks international prices of the most globally…
Pakistan achieved 6% growth for two consecutive years (FY 21-22)
Pakistan’s economy achieved a real GDP growth of around 6 percent, for a second consecutive year in FY 22, says annual report on the country’s State of Economy released by the State Bank of Pakistan, According to the report, the growth was broad-based as both agriculture and industry saw a notable increase that spilled over…
France grants €0.3 Million for Babu Sabu water treatment Project
France has provided a grant of Euro 0.3 Million for Babu Sabu Wastewater Treatment Plant-Financing Project Management Unit. Dr. Kazim Niaz, Secretary, Ministry of Economic Affairs (MoEA) and Philippe Steinmetz, Country Director of the French Agency for Development (AFD), signed the Grant Financing Agreement worth € 0.3 million for Babu Sabu Waste water Treatment Plant-Financing…
Mondelez International Facilitates Over 22 Million PKR for Flood Rehabilitation in Pakistan
With the entire country standing in unison to aid rehabilitation efforts in flood-affected regions of Pakistan, Mondelez Pakistan Limited, being one of the country’s leading socially responsible corporate entities has played its part by contributing over 100,000/- USD in cash along with in-kind donations to support families in building their homes and livelihoods once again….
Consumers of 3G, 4G service reach 120 million
The number of 3G and 4G service users in Pakistan has significantly increased and reached 120 million by the end of August 2022. As per the details available on the official website of the PTA, the number of active mobile SIMs reached 195 million during the same period. The number of broadband subscribers reached 123…
Meezan Bank and Arif Habib Group Enter into a Strategic Partnership for Apartment Development under Musharakah Mode
Arif Habib Group (AHG), and Meezan Bank Limited (MBL) have entered into a strategic partnership to jointly develop and sell apartment towers at Naya Nazimabad. This collaboration will allow customers to opt for the Shariah Compliant Home financing services offered by MBL. MBL has entered into a Musharakah Agreement with Globe Residency REIT(GRR), for development…