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Govt will offer tax benefits to manufacturers of electric vehicles: Amin Aslam

ISLAMABAD: Adviser to the Prime Minister on Climate Change Malik Amin Aslam said on Monday the government would soon offer tax benefits and other incentives to manufacturers and importers of electric vehicles in order to reduce its inflated oil imports’ bill, carbon emissions, boost industrial growth and create jobs opportunities. Talking to media , he said the government was committed ... Read More »

PM Imran meets delegation of MoneyGram Int’l

ISLAMABAD: A delegation of MoneyGram, headed by William Alexander Holmes, CEO and Chairman, called on Prime Minister Imran Khan at PM Office today (Monday). Finance Advisor Dr. Abdul Hafeez Sheikh and Adviser Commerce Abdul Razzak Dawood were also present during the meeting. MoneyGram International Inc. is a globally recognized American money transfer company, which is offering its services at approximately ... Read More »

Asad Umar meets German envoy to discuss bilateral relations

ISLAMABAD : Federal Minister for Planning, Development and Reform and Special Initiative, Asad Umar met with German Ambassador Bernhard Schlagheck for discussing bilateral relations here Monday. During the meeting they discussed mutual interest in bilateral relationships, particularly improving trade and enhancing investment for scope of German companies in Pakistan, said a statement issued here. Both dignities expressed interest in exploring ... Read More »

LSM declines 5.6pc during September

ISLAMABAD: Large-Scale Manufacturing (LSM) output contracted for sixth month in a row with no sign of revival in the immediate future. The LSM index shrank by 5.63 per cent year-on-year in third month of 2019-20, the Pakistan Bureau of Statistics (PBS) reported ay. Meanwhile, during 3MFY20, big industry fell by 5.91pc. In 2018-19, three LSM sectors recorded a decline of ... Read More »

PIA registers loss of over Rs67b in 2018 over sloppy performance

ISLAMABAD: The Pakistan International Airlines (PIA), suffered a loss of more than Rs67 billion in 2018 over sloppy performance, registering a 32-percent increase in its deficit, according to the results announced following an approval from the national carrier’s board of directors. The exact loss, which amounted to Rs67,032,000,000, was revealed after the board’s meeting here in Karachi. The board during ... Read More »

Economy heading towards stability due to govt measures: Hafeez Sheikh

ISLAMABAD: Advisor to the Prime Minister on Finance Dr Abdul Hafeez Sheikh Friday said that the present government was taking all important steps for controlling inflation and improving economic growth rate of the country. Talking to media, he said that the Pakistan Tehreek e Insaf (PTI) government had minimized over all expenditure, due to which, the economy was moving on ... Read More »

Chinese envoy urges media to play role in nullifying propaganda against CPEC

ISLAMABAD: Ambassador of China to Pakistan Yao Jing on Friday called upon the media to play its role in nullifying the effects of propaganda against China Pakistan Economic Corridor (CPEC). “Media is a major vehicle of information and platform of interaction”, he said while addressing the 5th CPEC Media Forum, and added “media from both Pakistan and China have already ... Read More »

Sports goods’ exports decline over 3pc

ISLAMABAD: The exports of sports goods from the country witnessed declined of 3.94 percent during the first four months of current financial year (2019-20) as against the exports of corresponding period of last year, Pakistan Bureau of Statistics (PBS) reported. The country exported sports goods worth $ 99.906 million during July-October (2019-20) against the trade of $104.007 million during July-October ... Read More »

Non-textile exports increase 4pc from July to Oct

ISLAMABAD: The government’s cash support to various sectors helped increase non-textile exports during the July-October period by four per cent to $2.96 billion compared to same period last fiscal year. The slight increase shows the exports of non-textile products have rebounded in the ongoing fiscal year reversing the declining trend seen during last few years. The government had extended cash ... Read More »

Iran keen to strengthen trade relations with Pakistan: Envoy

ISLAMABAD: Ambassador of Iran Mehdi Honardoost on Thursday met Adviser to Prime Minister on Commerce Abdul Razak Dawood to discuss matters pertaining to bilateral trade and investment. Speaking on the occasion, Dawood noted that the two brotherly countries have cordial relations, saying that “Pakistan highly values its fraternal ties with Iran and considers it a close friend”. However, he added, ... Read More »

State Bank’s reserves rise by $45m

KARACHI: The State Bank of Pakistan’s (SBP) reserves increased by $45 million to $8.44 billion during one week ending on November 15. According to data released by the central bank, the total liquid foreign reserves held by the country stood at $15.46 billion on November 15. The break-up of the foreign reserves position is as under: Foreign reserves held by ... Read More »

Pakistan to set up electric rickshaw & motorcycle factories

ISLAMABAD: Advisor to the Prime Minister on Climate Change, Amin Aslam talking to the media on Thursday said that Pakistan is planning to save 2 billion dollars in fuel costs by shifting to electric vehicles. According to media, the advisor said that the cabinet has given formal approval for the country’s first electric vehicle policy. He added that by incorporating ... Read More »

NEPRA approves Rs1.82 per unit increase in electricity tariff

ISLAMABAD: The National Electric Power Regulatory Authority (NEPRA) on Thursday allowed Rs1.82 per unit increase in electricity tariff under monthly fuel adjustment for electricity consumed in September, 2019, expect lifeline consumers, according to a notification issued by the regulator. As the decision takes effect, the consumers will have to pay additional amount starting from the month of December. Collectively, the ... Read More »

PIA expands its operation by inducting another Airbus-320 to its fleet

KARACHI: In a move to expand flight operation, the Pakistan International Airlines (PIA) on Thursday inducted an Airbus-320 in its fleet, bringing the number of airbuses to 12. According to media, the national flag-carrier is working on its business plan and recently inducted an Airbus-320 into its fleet on dry lease. The aircraft was handed over to the PIA. According ... Read More »

Govt to improve labour standards for conducive business environment: Dawood

ISLAMABAD: Prime Minister’s Adviser for Commerce, Industries and Investment Abdul Razak Dawood on Wednesday said the government’s priority was to improve labor standards and provide conducive working environment at work place for enhancing the quality of labor. “We are working in all 27 conventions given by European Union after signing the Generalized Schemes of Preference (GSP- Plus) including 7 conventions ... Read More »

Imported tomatoes stabilize its price in wholesale market

KARACHI: Prices of tomatoes were seen stabilize as 13 containers loaded with the imported tomatoes from Iran reached Karachi’s Sabzi Mandi. According to media,  the price of per kg tomatoes in Karachi’s Sabzi Mandi witnessed a reduction of 100rupees, leading its rate to rs 180 per kg in the wholesale market. The prices are expected to see more reduction after ... Read More »

BRI effective instrument of cooperation: Shah Mehmood Qureshi

ISLAMABAD: Underlining the importance of the Belt and Road Initiative of China, Foreign Minister Shah Mehmood Qureshi has said the BRI has emerged as the single most effective instrument of globalization and international development cooperation. He was addressing a conference on BRI in the federal capital, here on Wednesday. Shah Mehmood Qureshi said Pakistan-China friendship is an example for the ... Read More »

All federal offices to be converted into e-offices by June 2020

ISLAMABAD: National Information Technology Board (NITB) Wednesday stated that all federal government offices will be converted into E-offices by June 2020. This was informed by the officials of NITB in 9th National Assembly standing committee on Information Technology which met here with Member National Assembly (MNA) Ali Khan Jadoon in the Chair. The committee was apprised that a few ministries ... Read More »

NEPRA reserves ruling as DISCOs file application for Rs17.2b recovery of arrears

ISLAMABAD : The National Electric Power Regulatory Authority (NEPRA) on Wednesday reserved its ruling after hearing an application filed on behalf of the power distributing companies (DISCOs) for quarterly recovery of loses and arrears amounting to Rs17.2 billion in the balance sheet from July to September, 2019. If approved in the form of power arrears, the amount will put additional ... Read More »

Timesaco offers free rides for customers in Islamabad & Rawalpindi

ISLAMABAD: Timesaco, the instant services company in Pakistan offers free rides for customers in Islamabad and Rawalpindi on its taxi service. Timesaco launched online taxi service in mid of this year in ten major cities including Islamabad, Rawalpindi, Lahore, Karachi, Peshawar, Abbottabad, Faisalabad, Gujranwala, Sialkot and Multan. Now, the company is offering multiple discounts and free rides for customers, Donald ... Read More »