Tribune
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Foreign exchange: SBP reserves fall $241m to $17.09b | The Express Tribune
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[ad_1] KARACHI: The foreign exchange reserves held by the central bank declined 1.4% on a weekly basis, according to data released by the State Bank of Pakistan (SBP) on Thursday. On February 11, the foreign currency reserves held by the SBP were recorded at $17,095.8 million, down $241 million compared with $17,336.8 million on February…
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Market watch: Stocks extend losses over inflation concerns | The Express Tribune
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[ad_1] KARACHI: Pakistan Stock Exchange extended losses on Thursday as the KSE-100 index shed 244 points, driven by pessimism over fuel price hike coupled with announcement of poor corporate results by some companies. The market was reeling from the sharp spike in prices of petroleum products, which sparked fears of acceleration in the inflation rate.…
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Exports projected to hit $38 billion | The Express Tribune
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[ad_1] KARACHI: Pakistan’s exports of goods and services will exceed $38 billion in the ongoing fiscal year, which is for the first time in the country’s history, projected Trade Development Authority of Pakistan (TDAP) Chief Executive Arif Ahmad Khan. In a meeting with a delegation of the Council of Economic and Energy Journalists on Wednesday,…
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Petroleum imports touch record high | The Express Tribune
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[ad_1] ISLAMABAD: Pakistan’s petroleum import bill hit a record high of $11.69 billion in the first seven months (July-January) of current fiscal year 2021-22 mainly due to a surge in energy prices in the global market and partly due to a pickup in demand in the country. The oil import bill increased by 107% to…
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SBP expands scope of Export Finance Scheme | The Express Tribune
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[ad_1] KARACHI: The State Bank of Pakistan (SBP) has enhanced the scope of Export Finance Scheme (EFS) – both conventional as well as Shariah based, allowing exporters to obtain financing against their export proceeds through the discounting of export bills and receivables. According to a statement issued on Wednesday, the move is aimed at…
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Punjab for increasing subsidy on Kissan Cards | The Express Tribune
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[ad_1] ISLAMABAD: Punjab has requested the federal government to enhance the subsidy amount for Kissan Cards in order to achieve the target of distributing 1 million cards by the end of June 2022. The provincial government has also approved a project to facilitate farmers by providing subsidised agricultural implements based on a ratio of 60:40.…
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NA panel approves amended FRDL Act | The Express Tribune
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[ad_1] ISLAMABAD: A legislative panel of the National Assembly on Wednesday approved amendments to the Fiscal Responsibility and Debt Limitation (FRDL) Act to relax the condition to reduce the debt to a sustainable level for 10 years after the government constantly violated the law. The National Assembly Standing Committee on Finance and Revenue unanimously approved…
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ADB to continue supporting Pakistan | The Express Tribune
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[ad_1] ISLAMABAD: The Asian Development Bank (ADB) is committed to supporting the implementation of structural reforms in Pakistan, said ADB Public Management, Financial Sector and Trade Division Director Tariq H Niazi. In a meeting with Federal Minister for Finance and Revenue Shaukat Tarin on Wednesday, he appreciated the efforts of the government aimed at improving…
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Govt envisages $200b exports by FY25 | The Express Tribune
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[ad_1] ISLAMABAD: The government has fixed export target of $200 billion by the end of fiscal year 2025, announced Adviser to Prime Minister on Commerce and Investment Abdul Razak Dawood. Speaking at a press conference held for the launch of 3rd Textile and Apparel Policy, the adviser said that it was recently approved by the…
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PTA releases Internet of Things framework | The Express Tribune
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[ad_1] KARACHI: The Pakistan Telecommunication Authority (PTA) has issued a regulatory framework for Short Range Devices (SRD) and internet of things (IoT) services. In a statement on Wednesday, the authority detailed that the framework was created and introduced as a regulatory tool to facilitate service operations of internet of things. “PTA shall start accepting class…
