ISLAMABAD, Sep 15 (ABC):The Federal Board of Revenue (FBR) on Thursday conducted 9th computerized balloting of Point of Sale (POS) Invoicing Prize Scheme in Multan as its flagship initiative. A total of Rs. 54 million were disbursed among the 1017 lucky winners during the ceremony, said a press release issued by FBR. Sardar Ali Khawaja, Member Public Relations (FBR) was …

ISLAMABAD, September 15 (ABC): Adhering to the deep friendship between the Chinese and Pakistani, since August 20, Yuan Longping High-tech Agriculture Co., Ltd. (LPHT)and Guard Agricultural Research and Services Private Company(GARS) have actively joined the local disaster relief activities in Pakistan. According to report, total of Rs 32.19 million reliefs were provided to suffered people in disaster areas including Rs …

ISLAMABAD, Sep 15 (ABC):Federal Minister for Commerce Syed Naveed Qamar on Thursday said that the opening of Pakistan-Iran ‘Pishin Border Market’ is expected in the coming month, which will increase the trend of free trade between the two countries. The Pishin border market had been completed and its inauguration was on the cards, while work on other three markets including …

ISLAMABAD, Sep 15 (ABC): The price of 24 karat per tola gold witnessed an increase of Rs.150 on Thursday and was sold at Rs.155,850 against its sale at Rs.155,700  the previous day. The price of 10 gram 24 karat also increased by Rs.128 and was sold at Rs.133,616 against Rs.133,488 whereas that of 10 gram 22 karat went up to …

PESHAWAR, Sep 15 (ABC):After having lost his house and standing crops in flash floods, the 24-year progressive farmer from Nowshera district Malayar Khan is worried regarding preparations of his agricultural land for upcoming wheat sowing season and how to water the crop due to destruction of water channels and canals. Belonging to flood hit Mohib Banda directly located on River …

ISLAMABAD, Sep 15 (ABC):The 100-index of the Pakistan Stock Exchange (PSX) witnessed bearish trend on Thursday, losing 239.73 points, a negative change of 0.57 percent, closing at 41,772.09 against 42,011.82 points on the last working day. A total of 259,979,526 shares were traded during the day compared to 156,581,804 shares the previous day, whereas the price of shares stood at …

ISLAMABAD, Sep 15 (ABC) :Pakistan rupee on Thursday depreciated by Rs 2.39 against the US dollar in the interbank trading and closed at Rs 235.88; against the previous day’s closing of Rs 234.31. According to the Forex Association of Pakistan (FAP), the buying and selling rates of dollars in the open market were recorded at Rs 240 and Rs 241 …

ISLAMABAD, Sep 15 (ABC): The outcomes of Pakistan’s GSP+ status conferred by the European Union (EU) has started bearing positive outcomes amid growing exports to the EU by 82% whereas the trade incentive scheme would be revised soon with increase in demand on compliance of international conventions. Head of Rural Development and Economic Cooperation, European Union Delegation Dr Stephen Langrell …

ISLAMABAD, Sep 15 (ABC):The exports of textile goods increased by 4.18 percent during the first two months of the current fiscal year as compared with the corresponding month of last year. The textile goods exports were recorded at $3,056.387 million in July-August (FY2022-23) against the exports of $2,933.739 million in July-August (FY2021-22), showing growth of 4.18 percent, according to the …

ISLAMABAD, Sep 14 (ABC): The United Arab Emirates (UAE) wants enhanced business and investment relations with Pakistan in order to complement the economy of each other and achieve mutually beneficial results. UAE also want to have more investors of Pakistan to invest in its economic zones and would encourage its investors to explore Pakistan for business and investment opportunities. UAE …

ISLAMABAD, Sep 14 (ABC):The sale of cars during the first two months of current fiscal year 2022-23 (July-August) has dropped by 49.80 percent as compared to the same months of last year, a recent data released by Pakistan Automobile Manufacturing Association (PAMA) said.According to the data, as many as 19,358 cars were sold during the months under review as opposed …

ISLAMABAD, Sep 14 (ABC): The Asian Development Bank (ADB) provided $1.31 billion to Pakistan in terms of loan and grant during last year (2021), which was comprised $0.3 billion in program lending, $1.01 billion from project lending and $3 million from grants. The financing was aimed at to reduce poverty and improve the country’s prosperity and resilience by supporting infrastructure, …

ISLAMABAD, Sep 14 (ABC): The 100-index of the Pakistan Stock Exchange (PSX) on Wednesday gained 10.48 points, a nominal positive change of 0.02 percent, closing at 42,011.82 against 42,001.34 points on the last working day. A total of 156,581,804 shares were traded during the day compared to 118,511,503  shares the previous day, whereas the price of shares stood at Rs.6.548 …

  ISLAMABAD, Sep 14 (ABC):The price of 24 karat per tola gold witnessed a decrease of Rs.800 on Wednesday and was sold at Rs.155,700 against its sale at Rs. 156,500 the previous day. The price of 10 gram 24 karat also decreased by Rs.686 and was sold at Rs.133,488 against Rs.134,174 whereas that of 10 gram 22 karat went down …

ISLAMABAD, Sep 14 (ABC):Pakistan rupee on Wednesday depreciated by Rs 2.39 against the US dollar in the interbank trading and closed at Rs 234.31; against the previous day’s closing of Rs 231.92.According to the Forex Association of Pakistan (FAP), the buying and selling rates of dollars in the open market were recorded at Rs 237 and Rs 239 respectively. The …

ISLAMABAD, Sep 14 (ABC):Minister for Commerce, Syed Naveed Qamar on Wednesday said that the government was committed to provide level playing field and reduce cost of doing business for export-oriented sectors including textiles to boost exports and reduce current account deficit. He expressed these views while addressing a virtual session organized by South Punjab Investment Forum in collaboration with USAID, …

ISLAMABAD, Sep 13(ABC):  The price of 24 karat per tola gold witnessed an increase of Rs.500 on Tuesday and was sold at Rs.156,500 against its sale at Rs.156,000 the previous day. The price of 10 gram 24 karat also increased by Rs.429 and was sold at Rs.134,174 against Rs.133,745 whereas that of 10 gram 22 karat went up to Rs.122,992 …

ISLAMABAD, Sep 13(ABC): The 100-index of the Pakistan Stock Exchange (PSX) turned around to witness bullish trend on Tuesday, gaining 139.05 points, a positive change of 0.33 percent, closing at 42,001.34 against 41,862.29 points on the last working day. A total of 118,511,503 shares were traded during the day compared to 161,425,081 shares the previous day, whereas the price of …

LAHORE, Sep 13(ABC): Worried about the unavailability of cotton after floods destroyed crops across the country, the Pakistani textile millers have started approaching international suppliers to source silver fibre to maintain the export momentum. Pakistan has been hit by the worst flood in its history, affecting 33 million people and inflicting an estimated loss of nearly $10 billion in infrastructural damages. Floods …

KARACHI, Sep 13(ABC): The remittances sent home by overseas Pakistanis rose 8% month-on-month to $2.7 billion in August 2022, the latest data from the central bank showed Tuesday. The nominal increase in remittances came following the normalisation of the number of working days in month that led to a decline in July. According to the State Bank of Pakistan (SBP), the …

KARACHI, Sep 13(ABC): The Pakistani rupee continued to slide for the eighth straight session against the US dollar on Tuesday as cataclysmic floods and continuous political instability forced the local unit to depreciate. In the interbank market, the local unit fell by Rs2.1 to Rs231.92, down in value from yesterday’s close of Rs229.82 — when it lost Rs1.62. The rupee …

ISLAMABAD, Sep 12 (ABC): Pakistan rupee on Monday depreciated by Rs 1.64 against the US dollar in the interbank trading and closed at Rs 229.82; against the previous day’s closing of Rs 228.18. According to the Forex Association of Pakistan (FAP), the buying and selling rates of dollars in the open market were recorded at Rs 234 and Rs 236 …

ISLAMABAD, Sep 13(ABC): A recent by the International Centre for Integrated Mountains Development (ICIMOD) and Pakistan Agricultural Research Council (PARC) has revealed that the recent massive torrential rains had inundated the cropland of Southeastern province of Sindh that devastated commercial crops on large scale and incurred a combined loss of $1.7 billion. The study titled “The 2022 Pakistan floods: Assessment …

ISLAMABAD, Sep 13(ABC): The Pakistan Stock Exchange on Monday announced the much-awaited list of companies selected for the ‘Top 25 Companies Awards’ for the year 2021. The PSX Top 25 Companies Awards, initiated in the year 1978, is being presented to the outstanding companies listed on the Stock Exchange, said a PSX press statement received here. The key pre-requisites for …

ISLAMABAD, Sep 12 (ABC):The 100-index of the Pakistan Stock Exchange (PSX) witnessed bearish trend on Monday, losing 85.87 points, a negative change of 0.20 percent, closing at 41,862.29 against 41,948.16 points on the last working day. A total of 161,425,081 shares were traded during the day compared to 146,631,042 shares the previous day, whereas the price of shares stood at …

ISLAMABAD, Sep 12 (ABC): President Dr Arif Alvi on Monday urged the need for a close, meaningful and effective collaboration among the federal and provincial governments, local authorities, and public and private sectors to promote investment in the mining and minerals sectors of the country. He was addressing a meeting of various private and public sector stakeholders relating to the …

ISLAMABAD, Sep 13(ABC): The Central Directorate of National Savings (CDNS) on Monday achieved the target of issuing Rs 240 billion fresh bonds in the current fiscal year 2022-23 from July 1st to September,10th 2022. The Central Directorate of National Savings (CDNS) has set a saving target of Rs1.5 trillion for the current financial year (2022-23) which will promote savings culture …

ISLAMABAD, Sep 13 (ABC):The price of 24 karat per tola gold witnessed an increase of Rs.3000 on Monday and was sold at Rs.156,000 against its sale at Rs. 153,000 the previous day. The price of 10 gram 24 karat also increased by Rs.2572 and was sold at Rs.133,745 against Rs.131,173 whereas that of 10 gram 22 karat went up to …

ISLAMABAD, Sep 12(ABC): The exports of spices from the country witnessed a decrease of 10.61 percent during the first month of current fiscal year (2022-23) as compared to the corresponding period of last year. Pakistan exported spices worth US $5.090 million during July 2022 as compared to the exports of US $5.694 million during July 2021, showing negative growth of …

ISLAMABAD, Sep 12 (ABC):President Dr Arif Alvi has called upon all the banks of the country to regularly warn their customers and clients about banking scams, including banking frauds involving online funds transfers, and improve their regular communication with clients. He said that simple people were being frequently entrapped by fraudsters and swindled out of their hard-earned money through fake …

FAISALABAD, Sep 12(ABC): Agriculture experts have advised the farmers to immediately start cultivation of grams from mid of September and get maximum production.A spokesman for the agriculture department said here on Sunday that the time from mid September to end of November was the best and suitable for gram cultivation in Punjab province. Therefore, growers should concentrate on cultivation of …

KARACHI, Sep 12(ABC): The Sindh Cabinet, in order to encourage and strengthen flood-affected local growers to grow more wheat and avoid famine-like situation in the province has fixed a support price of wheat at Rs4000 per 40 kg. The meeting was held under the chairmanship of Sindh Chief Minister Syed Murad Ali Shah here at CM House. The meeting was …

ISLAMABAD, Sep 11 (ABC): Pakistan Railways is planning to procure as many as 25 diesel electric locomotives for various shunting points across the country which would help to replace outdated locomotives that to be scrapped very soon. The project for the procurement and manufacturing of 25 shunting locomotives would be implemented in three years at an estimated cost of Rs. …

ISLAMABAD, Sep 11 (ABC): With higher level of halal trade, the halal economy is poised to become more integrated with global trade and supply chains, which will swell to $5 trillion by 2030 from $2.30 trillion a couple of years ago. This was stated here on Sunday by Chairman United Business Group in the Federation of Pakistan Chamber of Commerce …

MULTAN, Sep 11 (ABC):Punjab agriculture department sought applications from sugarcane farmers for contesting bumper crop competition. According to the department, registered farmers from 13 different districts including Layyah, Bahawalpur, Muzaffargarh, Rajanpur, Raheemyar Khan,  Bhakkar, Toba Tek Singh, Manid Bahauddin, Kasur, Sargodha, Faisalabad, Jhang and Chinot. The government will also provide Rs 5000 subsidy/acre to the farmers. The farmers who will …

ISLAMABAD, Sep 9 (ABC): Federal Minister for Finance and Revenue Miftah Ismail here on Friday formed a committee to hold meetings with Chinese Independent Power Producers (IPPS) on regular basis to address and resolve their concerns. The committee would comprise representatives from Finance, Power divisions and China Pakistan Economic Corridor (CPEC), according to press statement issued by finance ministry. Presiding …

ISLAMABAD, Sep 9 (ABC): The price of 24 karat per tola gold witnessed an increase of Rs.850 on Friday and was sold at Rs.151,700 against its sale at Rs.150,850 the previous day. The price of 10 gram 24 karat also increased by Rs.728 and was sold at Rs.130,058 against Rs.129,330 whereas that of 10 gram 22 karat went up to …

BUDAPEST, Sep 9 (ABC): Driven mostly by soaring food prices, Hungary’s annual inflation rate climbed from 13.7 percent in July to 15.6 percent in August, a level not seen since May 1998, the country’s Central Statistical Office (KSH) said here on Thursday. The figure was well over the official target of 3 percent set by the National Bank of Hungary …

BERLIN, Sept 9 (ABC): German gas company VNG on Friday became the latest European energy firm to seek government aid as reduced Russian pipeline flows pushed up energy prices and put its business under stress. VNG, Germany’s third-largest gas importer and storage operator, asked for support to “avert further losses” and allow the group’s “business operations as a whole to …

ISLAMABAD, Sep 9 (ABC): Ambassador of the Kyrgyz Republic to Pakistan Ulanbek Totuiaev has emphasized establishing stronger trade ties, enhancing cultural exchanges, and mutual collaboration in the educational and scientific sectors between both countries. He made these remarks during a seminar on “30 Years of Pakistan-Kyrgyzstan Relations: Progress and Prospects,” organized by the Institute of Peace and Diplomatic Studies, Embassy …