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Fish worth $253.145m, meat 185.087m exported in seven months

ISLAMABAD: Exports of fish and fish preparations from the country during first seven months of current financial year grew by 16.52% as compared the exports of the corresponding period of last year. During the period from July-January, 2019-20 about 107,053 metric tons of fish and fish products valuing $253.145 million exported as against 94,919 metric tons worth of $217.255 million ... Read More »

LPG price up by Rs 50 to 200 due to closure of Taftan border

LAHORE: The Liquefied Petroleum Gas (LPG) price has surged by Rs 50 to 200 due to the closure of Taftan border between Pakistan and Iran as fears across the region grow over a jump in new coronavirus infections. The LPG supplies from Iran have been halted due to the closure of the border. Pakistan imported around 800 to 1000 metric ... Read More »

Coronavirus fear: Govt suspends rail services with Iran

ISLAMABAD: Federal Minister for Railways Sheikh Rashid on Wednesday said that the government has decided to shut rail services with Iran to prevent coronavirus outbreak in Pakistan. In a statement, the minister said that four trains have been suspended for indefinite time period in this regard. The decision was taken following closure of Pakistan-Iran border in a wake of coronavirus ... Read More »

IHC approves Abdul Majeed Ghani’s bail in five NAB cases

ISLAMABAD: The Islamabad High Court on Wednesday approved the bail of Abdul Ghani Majeed on medical grounds in five corruption cases filed against him. The court approved the bail and asked Ghani to submit bonds worth Rs100 million in the five references he is facing and disposed of National Accountability Bureau’s (NAB) plea challenging the bail. In its order, the ... Read More »

Pharmaceutical goods’ export increase 4.49pc in 7 months

ISLAMABAD : The export of pharmaceutical goods from the country witness an increase of 4.49 percent during the first seven months of current financial year (2019-20) as compared to the export of corresponding period of last year. The pharmaceutical exports were recorded at $129.100 million during July-January (2019-20) as against the export of $123.555 million during July-January (2018-19), showing growth ... Read More »

Govt to issue Sukuk-II to raise Rs200b for retiring circular debt

ISLAMABAD: The Pakistan Tehreek-e-Insaf (PTI) government may issue  Sukuk-II for raising Rs200 billion in a bid to retire mounting circular debt, according to media reports. It has been learnt that the Power Division has initiated the process to issue the Sukuk-II for raising Rs200 billion after getting a competitive interest rate of the loans from a consortium of banks.  The ... Read More »

APTMA delegation to meet PM Imran tomorrow

LAHORE: Prime Minister Imran Khan is likely to meet the leading textile millers and office-bearers of the All Pakistan Textile Mills Association (APTMA) on Wednesday (tomorrow). According to sources, the impeccable sources added that APTMA’s Group Leader Gohar Ijaz would lead the delegation and it will comprise APTMA’s Chairman Dr Amanullah Kassim, APTMA Punjab’s Chairman Adil Bashir and other leading ... Read More »

Transport group imports reduced by 48.11pc in 1Q

ISLAMABAD: The transport group imports during first seven months of current financial year reduced by 48.11 percent as compared to the corresponding period of the last year. According to Pakistan Bureau of Statistics (PBS), the transport group imports came down from US $224,330 million in first seven months of last financial year to US $91,800 million of the same period ... Read More »

Trade activities suspended, as Pak-Iran border closed amid coronavirus scare

TAFTAN: Cross border trade activities have been suspended due to the closure of Pak-Iran border, it was learnt on Monday. The suspension of trade activities comes after Pakistan on Sunday closed its land border with Iran, as fears across the region continued to grow over a jump in new coronavirus infections. Long rows of vehicles remain stranded on both sides ... Read More »

Work starts on Pakistan’s $21 million Expo 2020 pavilion in Dubai

DUBAI: Pakistan’s Consul-General in Dubai Ahmed Amjad Ali says work has started on Pakistan’s $21 million Expo 2020 pavilion in Dubai. The pavilion will be built in the Opportunity District of the Expo 2020 in more than 3,449 square meters of land. A special section will showcase prominent Pakistani women and tech entrepreneurs for their great contribution in different social ... Read More »

Hydel power to fulfill 35 percent energy needs by 2030: Omar Ayub

KARACHI: Federal Minister for Energy Omar Ayub Khan on Monday said that country’s economy and its progress is directly linked with the energy sector and the incumbent government has given special attention towards the energy sector. Addressing a seminar, the federal minister Omar Ayub Khan said that currently, 85 percent of the energy is generated in the country utilizing imported ... Read More »

Pakistan made significant progress on FATF action plan: Hammad Azhar

ISLAMABAD: Federal Minister for Economic Affairs Hammad Azhar on Saturday said Pakistan has made significant progress on implementation of a 27-point action plan of the Financial Action Task Force (FATF) in the last one year. “14 out of 27 action items of the ICRGA Action Plan carry ‘largely complete’ status now,” he said in a Twitter statement. The federal minister ... Read More »

President Alvi directs banks to fix 2pc job quota for disabled persons

ISLAMABAD: President Dr. Arif Alvi has ordered all the banks of Pakistan to ensure implementation of disable quota in banks, train differently-abled people and give them jobs. He was presiding over a meeting with chief executive officers/ presidents of the banks of Pakistan regarding “Disability” at State Bank of Pakistan Karachi, a press release issued the other day by the ... Read More »

Turkish Pegasus Airlines to start operations in Pakistan

ISTANBUL: Pegasus Airlines, a Turkish low-cost airline has announced to commence aerial operations in Pakistan, it was learnt here on Saturday. As per reports, another foreign airline has decided to start its aviation operations for Pakistan, as the Turkish carrier Pegasus will begin flights to Pakistan starting March 28, 2020 from Karachi to Istanbul. The development comes just days after ... Read More »

FATF gives Pakistan ‘more time’ to implement action plan

ISLAMABAD: The Financial Action Task Force (FATF) Plenary meeting was held in Paris from February 16-21, 2020. The Pakistan delegation was led by Muhammad Hammad Azhar, Minister for Economic Affairs Division. During the last reporting period, Pakistan has made significant progress in the implementation of FATF Action Plan, which has been demonstrated by the completion of 9 additional action items. ... Read More »

PFA discards 4,600 liters of adulterated milk in Lahore

LAHORE: The Punjab Food Authority (PFA) on Friday continued its action against the adulterated mil suppliers in Lahore. As per details, the PFA discarded 4,600 litres of adulterated milk during checking in Lahore during snap checking in the city. As many as 1,562 vehicles loaded with approximately 17,500 litres of milk were checked during the drive, from which 4,600 litres ... Read More »

Medicinal imports dip over 9pc in seven months

ISLAMABAD: The imports of medicinal products into the country during the first seven months of financial year (2019-20) dipped by 9.95 percent as compared to the corresponding period of last year. Pakistan imported medicinal products of worth $590.783 million during July-January (2019-20) compared to the imports of $656.080 million during July- January (2018-19), showing negative growth of 9.95 percent, according ... Read More »

PSO partially resumes fuel supplies from Kemari Oil Terminal

KARACHI: Pakistan State Oil (PSO) on Thursday partially resumed fuel supplies from the Kemari Oil Terminal in the city after 48-hours closure owing to leakage of mysterious gas in the area. PSO spokesperson announced that the state-owned multinational petroleum corporation resumed limited fuel supplies to the city after the rumours of petroleum supplies’ suspension caused panic among masses in the ... Read More »

100 accused seek relief under the amended NAB ordinance

ISLAMABAD: Around 100 graft suspects have sought relief under the National Accountability Bureau (NAB) Amendment Ordinance 2019. A number key politicians and former bureaucrats have sought disposal of corruption cases against them in petitions filed in courts. President Arif Alvi on Dec 27 last year, promulgated the NAB (amendment) Ordinance 2019. According to the official document, so far only three ... Read More »

JICA agrees to further strengthen cooperation in trade, economic progress

ISLAMABAD: President Japan International Cooperation Agency (JICA) KITAOKA Shinichi called on Foreign Minister Shah Mahmood Qureshi. He apprised the Foreign Minister about ongoing cooperation of the Agency with Pakistan in diverse fields including education, health and human and social development. They agreed to further enhance this cooperation in trade and economic development. Appreciating JICA for its support to Pakistan in ... Read More »