Pakistan Business, PSX KSE Updates, Prize Bond, Currency & Gold Rate

In first month of PML-N-led govt, Large Scale Manufacturing shrank by 13.3%

During the first month of the PML-N-led coalition government, the Large-Scale Manufacturing (LSM) decreased by 13.3 percent month-on-month in April, as per...

64

HBL becomes the first Pakistani bank to provide payment services on WhatsApp

HBL is the first bank in Pakistan to provide ‘full-featured’ banking services over WhatsApp. E.Ocean, a well-known cloud communication service provider, collaborated...

87

B2B marketplace Dastgyr raises $37 million making it Pakistan’s largest series A round

Dastgyr, a Pakistan-based B2B e-commerce marketplace, has raised USD 37 million in Series A funding led by Veon. On Tuesday, it was...

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Non-resident Pakistani businessmen will now have to file tax returns

The criteria for non-resident Pakistani businessmen have been changed as they would now be required to file their income tax returns to...

64

Bitcoin fell below $20,000 for the first time since December 2020

The sell-off in cryptocurrencies deepened even further on Wednesday, with bitcoin sinking below $20,000 for the first time since December 2020. This...

229

Total companies registered by SECP goes up to 169,919 till May 2022

In May 2022, the Securities and Exchange Commission of Pakistan (SECP) registered 1,906 new companies, bringing the total number of businesses registered...

104

Khaadi fashion brand secures $25 million investment from IFC

The International Finance Corporation (IFC) has decided to invest $25 million in one of the country’s top fashion retailers Khaadi for creating...

157

How to speed up your dreams with the Binomo platform

How to speed up your dreams with the Binomo platform In this review, we’ll discuss all about how traders in Pakistan can...

121

4 Pakistanis make it to Forbes 30 under 30 Asia list for 2022

Four Pakistanis have been named to the Forbes 30 under 30 Asia list for 2021. These Pakistani youngsters have been recognized for...

87

What is four-day working week and why it may save Pakistan billions of dollars?

Amid increasing oil consumption and import bill because of international price hikes, the cash-strapped government is looking for the possibility of conserving...

98

Pakistan can generate $90 million per year by imposing 15% tax on crypto trading

A key international crypto company recommended the Pakistan government imposition of tax on crypto assets and frame guidelines in this respect.  Aatiqa...

61

8 Tips For Launching A Successful Digital Product To The Market

The digital world has transformed the way businesses operate and has given new impetus to entrepreneurs. It is a platform where businesses...

121

Street vendor earns average Rs 114,708 per month and 29% of which is profit

Researchers discovered that the average earnings of a street vendor in Pakistan is Rs 114,708, with 29 percent profit, while suggesting that...

114

Health-tech platform MEDZnMORE raises $11.5 million Pre-Series A funding

The company proclaimed that it has accomplished its Pre-Series A round marking the highest investment in health tech to date. MedznMore has...

126

Lucky Cement consolidated earnings at Rs 26.53 billion in 9 months

Lucky Cement Limited has earned a net profit of Rs 26.53 billion during the last nine months of 2021, as per the...

220

Fauji Fertilizer achieved net profitability of Rs 6.24 billion in Q1 2022

Fauji Fertilizer Company (FFC) Limited, Pakistan’s leading urea manufacturer, reported a profit after tax of Rs. 6.24 billion for the quarter ending...

223

Meezan Bank surpasses HBL to become second most profitable bank after UBL

United Bank Limited (UBL) reported a net profit of Rs 9.394 billion for the quarter ended March 31, followed by Meezan Bank...

132

SECP registered 2,354 new companies in March

The Securities and Exchange Commission of Pakistan (SECP) has done the registration process of 2,354 new companies in March 2022, making the...

258

Number of companies registered by SECP reached 158,537 till end of 2021

The Securities and Exchange Commission of Pakistan (SECP) struck off over 3,000 inactive companies from its books during the period of December...

229

B2B e-commerce startup Jugnu raises $22.5 million in Series A Round funding

Pakistan-based Jugnu, a B2B E-commerce startup, has succeeded to raise US$22.5 million. The Series A round was headed by Saudi-HQ’d and MENAP servicing B2B...

269

Pakistani startups raised staggering $563.5 million in 255 deals since 2015

Pakistani startups have raised $563.5 million in 255 deals from the year 2015. Only in 2021, 83 deals raised $350 million, revealed...

205

Bank financing to SMEs jump by 20% to Rs 524 billion in second quarter

Bank financing to small and medium enterprises (SMEs) has jumped by 20 percent quarter-on-quarter in October-December 2021. The PTI government has been...

249

Himalayan Chef Grocery Shopping: A One Stop Solution For Your Kitchen Needs!

Imagine you have had a very long rough day at work; you come back home, open up your pantry to cook something....

299

Apple, Google, Netflix and IKEA join the growing list of companies pulling out of Russia

A number of private global companies have found their own ways to hit back against the invasion as sanctions against Russia rack...

312

E-Tijarat portal launched to support entrepreneurs, freelancers

E-Tijarat, Pakistan’s first e-commerce online portal, was launched by Prime Minister Imran Khan to boost trading while also assisting the government in...

275

The best places to mine Bitcoin and earn money

As we all know by now, Bitcoin (BTC) is a currency of the likes we’ve never seen before. It’s an entirely new...

167

50pc drop in Kinnow export feared

Greater shipping charges, absence of refrigerated containers, and substandard quality of the crop are trouncing the Kinnow export this season. According to...

317

‘Business friendly environment top priority of Punjab’

Guaranteeing a business-friendly environment is the topmost priority of the Punjab government and the business community will not experience any problem in...

274

E-commerce policy to target $5 billion trade, 1 million jobs during 2022

The federal government has approved e-commerce policy and finalized its plan to inaugurate the first-ever virtual e-commerce university. Senator Aon Abbas, the...

304

Much awaited National SME policy hoped to create Pakistan’s own silicon valley

The National Small and Medium Enterprises – SME Policy has been launched and hopefully the country would see the benefits of this...

629

Board of Investment implements 100 reforms to facilitate businesses

Out of 168 proposed reforms, the Board of Investment (BOI) has completed 100 reforms which aim to identify, simplify, modernize the regulatory...

290

IT ministry proposes tax exemption for freelancers for the next 10 years

To enhance ease of doing business and boost exports, the Ministry of Information Technology and Telecommunication has recommended a 10-year tax exemption...

556

Khyber Pakhtunkhwa attracts $8 billion investment at Expo Dubai

The government of Khyber Pakhtunkhwa (KP) signed 44 agreements worth more than $8 billion at the Dubai International Expo 2020 to attract foreign...

313

Oman invites Pakistanis to invest in its core five sectors

Pakistan has been welcomed to invest in core five sectors of Oman, i.e., mining, logistics, tourism, food security and industrial growth. During...

424

Binance joins hands with Pakistan for busting $100 million crypto scam

Binance has made contact with the Federal Investigation Agency’s (FIA) of Pakistan and committed full cooperation in the probe of a mega-scam...

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Hunarmand Nojawan, Facebook to train 10,000 females in micro-entrepreneurship

Punjab’s Technical Education and Vocational Training Authority, in collaboration with Meta formally known as Facebook had trained 3,000 women and were planning...

254

Banking sector assets rise 21% to Rs 28.8 trillion in 12 months

The total assets of the banking sector rose 20.9 percent to Rs 28.790 trillion till September 2021 against Rs 23.808 trillion in...

341

Pak-China Business Investment Forum launched with 18 Chinese, 19 Pakistani companies

Chinese Foreign Ministry Spokesperson Wang Wenbin addressing a press conference lauded Pakistani authorities over the launch of Pak-China Business Investment Forum (PCBIF)....

480

First Islamabad-Istanbul cargo train reaches Turkey via Tehran in 13 days

The first cargo train between Istanbul and Islamabad via Tehran (ITI) reached Ankara via Lahore, Taftan and Zahedan, completing its journey in...

380

Pakistan launches national pavilion on China’s e-commerce platform JD

Pakistan’s National Pavilion on JD.com, China’s e-commerce platform has been inaugurated, intended to provide a platform to Pakistani and Chinese dealers for...

455

Collateral-free Asaan Finance Scheme by State Bank will be a game changer for SMEs

Governor of the State Bank of Pakistan (SBP) Reza Baqir said that the SBP Asaan Finance Scheme (SAAF) will be a game-changer in...

616

Non-textile exports jump 25% to $4.61 billion in five months

Country’s non-textile exports grew 24.59 percent year-on-year to $4.61 billion in the first five months of the current fiscal year. The government...

393

Government to aid around five million small businesses under new SME policy

The government revealed the new Small and Medium Enterprises (SME) Policy 2021-25, with the aim to promote nearly five million businesses via...

473

IPOs of eight new companies raise record Rs 20 billion in 2021

Almost eight companies went public in 2021, which records the maximum number of offerings within a year since 2015. The afresh registered...

368

Services export rises 24% to $2.122 billion in first four months

Services export has been risen by over 24.25 percent year-on-year to $2.122 billion in the first four months of the current fiscal...

684

Coca-Cola to inaugurate $50 million greenfield plant in February, 2022

Coca-Cola Icecek Pakistan on Monday said the $50 million greenfield project in the Haripur district of Khyber Pakhtunkhwa would be completed by...

284

Import bill of 30 items rise 142% in November

The import bill of 30 items reached Rs 696.346 billion during November as compared to Rs 287.131 billion during the same month, last year,...

367

Pakistan sets up gems and jewellery export promotion authority

The federal cabinet has approved the establishment of the “Pakistan Gems and Jewellery Export Promotion Authority”, the draft would be presented before...

316

Exports, imports see record rise in 1QFY22

Imports and exports both touched the highest-ever level in the first quarter of fiscal year 2021-22 (1QFY22) which persuaded the government to...

483

Data shows Pakistan economy entering ‘fast recovery’ period

A chain of statistics issued by authoritative international agencies and the government of Pakistan reveals that currently, Pakistan’s economy is arriving at...

428

Foreign direct investment falls 12% to $662 million during first four months

During the first four months of current fiscal year, foreign Direct Investment (FDI) decreased by 12 percent which stood at $662 million as...

525

State Bank warns banks against currency speculation

The State Bank showed severe concerns over speculation by banks in the currency business, stating they were indulged in the multibillion-rupee game. ...

357

BOI starts E-Kachehry on regular basis for interacting with investors

The Board of Investment (BOI) has initiated to conduct e-kachehry programs regularly for a purpose to resolve investment associated subjects. The interaction program...

427

SBP jacks up interest rate by 150 basis points to control rising inflation

The State Bank of Pakistan (SBP) increased its benchmark policy rate by 150 basis points on Friday, in line with market expectations,...

279

Trade deficit with nine regional countries widens to $3.18 billion in first quarter

Exports of Pakistan to nine neighbouring countries rose by 31.56%, however, the imports from these countries also went up by 42.6% in the first...

332

Salary-advance startup Abhi raises funds at $40 million valuation

Abhi, a Karachi-based salary advance startup has outstretched capitals at a $40 million assessment only four months after introducing its business, reported Bloomberg. ...

442

Eight sectors record double-digit growth in exports

Almost eight sectors recorded double-digit growth during the first four months of the current fiscal as compared to these months of the last...

410

Pakistani mango exports to China increase tenfold to 37.4 tonnes in Jan-Sept

Pakistani mango exports to China saw an increase of more than 10 times as Pakistan sent 37.4 tonnes of fresh and dried mangoes...

495

Goods worth $3.76 billion sent to top export destinations US, China, UK in four months

The United States, China, and the United Kingdom (UK) continued to be the top three export destinations of Pakistani merchandise in the...

478

Daraz breaks 11.11 record, serving 14 million e-commerce shoppers

Daraz, the major e-commerce marketplace in South Asia, has revealed an 11.11 breaking record, having more than 14 million e-commerce consumers visiting...

284

Pakistani exports to China to be doubled in next 3-5 years

Pakistan’s exports to China will double over the next three to five years because of the growing attention of local traders and...

320

Export of services rises by 23% to $1.572 billion in Q1

Over 23 percent growth of Pakistan’s export of services has been recorded in the first quarter of the current financial year from...

336

SMEs likely to get Rs 60 billion collateral-free lending from eight banks

State Bank of Pakistan has selected eight banks to get financing at 1 percent for onward lending to SMEs at a maximum end-user rate...

280

Mounting imports push trade deficit up 103% in 4 months

The first four months of the current fiscal year (4MFY22) posted a rise of more than 103 percent in trade deficit all...

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Pakistan October exports set a new record, swell 17.5% to $2.47 billion

There has been an increase in the exports of the country by 17.5 percent during the month of October 2021 to $2.471 billion which was $2.104...

292

Mastercard partners with Bakkt to offer cryptocurrency services and solutions

Mastercard has announced a partnership with Bakkt, a cryptocurrency firm, to ensure that crypto alternatives are available to retailers across its payments...

537

Four NLC trucks completes TIR round trip to Azerbaijan and Turkey

National Logistics Cell (NLC) has completed first ever commercial road movement under TIR (Transports Internationaux Routiers or International Road Transports) to Turkey...

397

SECP to investigate glitch in new trading system of PSX

Securities and Exchange Commission of Pakistan (SECP) has decided launch an inquiry into the suspension of new trading system of the Pakistan...

437

Meet the 15 youngest billionaires under the age of 40 in Forbes 400

In the Forbes 400 list, at least 15 are under the age of 40 and the youngest being 29-year-old Sam Bankman-Fried, who...

486

Searle Pakistan IPO offering expected to make record

Searle Pakistan Limited, Pakistan’s pharmaceutical powerhouse, is preparing for the country’s largest initial public offering (IPO) in its history. Searle Pakistan Limited...

375

Foreign investment inflows in Pakistan soared by 323 percent YoY in Q1

Foreign investment inflows increased to nearly $1 billion in the first quarter of the fiscal year 2021-22, owing primarily to government Sukuk...

315

Bitcoin jumps to new high above $67,000 after landmark ETF Listing

Bitcoin climbed to a record high on Wednesday as investors cheered the successful launch of the first U.S. bitcoin futures exchange-traded fund...

341

Export diversification strategy starts showing promising results

A senior government official said on Wednesday that the export diversification programme has just begun to show positive results, but that there is still...

459

High trade breaks four-day losing streak of rupee against dollar

The rupee appreciated slightly against the dollar in the inter-bank market on Friday and broke a four-day losing streak against the US dollar,...

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Vegetables exports grow by 82.88%, fruits up 23.49%

Exports of vegetables increased by 82.88 percent and fruits up by 23.49 percent in the first two months of the current fiscal...

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Islamabad-Tehran-Istanbul road corridor becomes operational for trade

A welcoming ceremony was held on October 8 by the Turkish Trade Ministry in Istanbul after the Islamabad-Tehran-Istanbul Road Transport Corridor Project successfully carried commercial...

522

Exports to Japan jump by 24.2% to $50.6 million in Q1 despite Covid

Merchandize exports to Japan from Pakistan witnessed an increase of 24.21 percent to reach $50.6 million during the first quarter (Q1) of...

451

Fitch forecasts Pakistani rupee to weaken further in 2022

According to Reuters, Fitch Ratings now anticipates the Pakistani Rupee to depreciate considerably further against the US Dollar in 2022. It lowered...

359

Dollar hits historic high at Rs 172 in the open market

The US Dollar continues to increase its worth against the rupee, mounting to a historic high of Rs 172 in the open...

511

Forbes features Pakistan’s Systems Limited and Highnoon in its ‘Best Under A Billion’ 2021 list

Systems Limited, a Lahore-based information technology company, and another Pakistani company, Highnoon Laboratories have been named to Forbes’ list of Asia’s Best Under A Billion. The...

431

Pakistan single window to help the country become an international trade hub

Pakistan Single Window (PSW) will not only lessen the time, cost and impediments while contributing considerably towards simplicity of doing business, but...

290

Pakistan pursuing preferential trade deals with Saudi Arabia, Oman, UAE

Pakistan is looking to establish bilateral trade deals individually with Oman, Saudi Arabia, and the United Arab Emirates after trade talks within...

424

Pakistan exported 95,991 tonnes of meat worth $333 million in FY21

Pakistan exported 95,991 tonnes (worth $333 million) of meat and meat preparations in FY21 that is an all-time high figure. Managing Director of PK Livestock, Tariq Mehmood Butt...

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KU graduate and IBA alumnus Sabir Sami appointed KFC Global CEO

Sabir Sami has been appointed as KFC Global Chief Executive Officer by Yum! Brands with effect from January 1, 2022, according to a...

444

Dollars being smuggled to Afghanistan adds pressure on weaker rupee

Dr. Raza Baqir, Governor of the State Bank of Pakistan (SBP), has revealed that US dollars are being smuggled into Afghanistan from Pakistan. ...

389

GDP of Pakistan expected to grow by 4.2% in FY22: Fitch

The economy of Pakistan will grow at the rate of 4.2% during the current fiscal year against the government target to get...

492

Corporate sector to opt for digital payments by November: FBR

Companies would be required to make payments on expenditures over Rs 250,000 through digital channel alone starting November 1, according to spokesperson...

443

Current account deficit widens 81 percent to $1.47 billion in August

The Current Account Deficit during the month of August has increased by 81 percent to $1.476 billion as compared to the previous...

399

SBP increases policy rate by 25bps to 7.25 percent after a 15-month gap

State Bank of Pakistan (SBP) has increased the benchmark interest rate by 25 basis points to 7.25 percent on Monday after 15...

329

Foreign investment falls 20 percent to $203 million in Jul-Aug

A 20 percent drop-down of Foreign direct investment (FDI) has been reported in the first two months (July-August) of the ongoing fiscal...

437

Pakistani startups Sastaticket, Safepay feature on Forbes Asia ‘100 to watch’ list

Another new achievement-Pakistani startups are on the way to make their space in the international platform by fascinating wider international investment and...

261

Output of LSM industries grows by 2.25 percent in July

The fiscal year 2020-21 has been wonderful for the Large Scale Manufacturing- LSM Industries in Pakistan which showed a growth of 14.85...

259

Chinese firms confident in Pakistan after meeting with PM Imran

The Pakistan government is concentrating on the ‘ease of doing business’ policy and extending facilities to investors, stated Prime Minister Imran Khan...

483

Big trade expected between Pakistan Turkey via new land route

A big step for bilateral trade between Pakistan and Turkey as a direct land route via the Istanbul-Tehran-Islamabad (ITI) road corridor is...

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Rupee slumps to an all-time low of 168.9 against the dollar

A decline of 85-paisa in the inter-bank market owing to the pressures caused by external payments, hauled the rupee to a record...

435

Remittances see 10 percent increase in first two months of FY22

Pakistan has received $5.364 billion in remittances during the first two months of the fiscal year 2021-22 (2MFY22), showed an increase of...

542

Nadra launches contactless biometric verification service for banking

Making positive use of technical advancements, and accepting the request of the State Bank of Pakistan (SBP), National Database and Registration Authority...

381

First-ever EU-Pakistan business forum for SMEs launched

The first-ever European Union (EU)-Pakistan Business Forum for Small and Medium Enterprises (SMEs) was launched on Thursday, aimed at boosting trade with countries...

815

Rupee falls to 13-month low of 168.08 against dollar as trade week closes

The rupee ended the day weaker and lost 0.26 percent against US dollar, according to today’s inter-bank closing exchange daily report. The US dollar’s...

698

Morgan Stanley downgrades Pakistan Stock Exchange from emerging to frontier

The Morgan Stanley Capital International (MSCI) has announced to cut down Pakistan Stock Exchange (PSX) among reduced progressive economies into Frontier Markets...

444

Exports of services up 6.39 percent to $483 million in first month of FY22

Pakistan Bureau of Statistics presented a report on Saturday, illustrating that exports of services have been increased by 6.39 percent to $483...

244

In world first, bitcoin becomes legal tender in El Salvador

Despite significant domestic distrust and international warnings about consumer concerns, El Salvador became the first government in the world to accept bitcoin...

282

Seed Out receives IsDB Award for impact in Islamic Economics

Another great achievement for Pakistan- Seed Out, a micro-entrepreneurs non-profit crowd funding platform has been conferred with Islamic Development Bank Award for inspirational achievement for the first...

275

Google, Apple forced to open up app store payments in South Korea

South Korea became the first country to force Apple and Google to open up their app store to other payment systems. According...

327

Trade gap widens by 133 percent to $4.05 billion in August

During the month of August, the trade gap widened 133 percent to $4.05 billion against $1.740 billion during the same month, last year. This...

304

National Savings outflows exceed inflows first time in 16 years

The net savings in National Savings remained negative during the fiscal year 2020-21, which has happened for the first time after 2004-05....

392

New investment options opened up for overseas Pakistanis through RDA

The country’s central bank has given overseas Pakistanis a variety of new investment choices in Pakistan, including public and unlisted enterprises, mutual...

266

Cargo handling at two major seaports posts double-digit growth in FY21

Cargo handling activities at Karachi Port Trust (KPT) and Port Qasim Authority (PQA) recorded a growth of 25 percent and 13.72 percent in FY21...

214

Tarin unveils three-year economic plan for 14 key sectors

With the commitment not to exit the International Monetary Fund (IMF) programme and instead take it to face-to-face talks in Washington in October, Finance...

540

Overseas Pakistanis can now redeem cash-rewards for sending remittances

The government is going to allow the remitters to redeem in-cash rewards for the points earned for sending remittances to Pakistan through...

331

New SBP instructions for selling third-party products

SBP has issued a comprehensively revised set of instructions on the sale of third-party products, the instructions will be applicable from 1st November. ...

383

Govt aims to take exports to record high by 2023

Adviser to Prime Minister on Commerce and Investment Abdul Razak Dawood on Wednesday said that that the government would take exports to...

360

Pakistan up 59 points in OICCI’s Business Confidence Index

Pakistan has shown a significant improvement in the overall business confidence in recent months, revealed Business Confidence Index (BCI). BCI survey has...

390

PayPal launches its cryptocurrency service in the UK

Starting this week, the US online payments giant PayPal said that British users will be able to buy, hold, and sell cryptocurrency. ...

290

Italy explores investment opportunities in Pakistan

There were vast opportunities for mutual trade and investment between Pakistan and Italy from which businessmen and traders of both the countries...

498

Bitcoin nears $50,000 as crypto market remain bullish

The crypto market remained bullish for the second straight day on Saturday, with the Bitcoin nearing $50,000 as it continues to rebound after months...

433

T-bills bounce back as foreign investment reach $15.98 million

The inflow of foreign investment in T-bills during the second month of the current fiscal year reached $15.98 million against the outflow...

353

Roshan Digital Account inflow hits $2 billion

Roshan Digital Account (RDA) which was introduced last September became a wonderful source of getting foreign exchange as the deposits in this...

511

SME Asaan Finance introduced for SMEs to get loans without collateral

The State Bank of Pakistan (SBP) has introduced a financing scheme for Small and Medium Enterprises (SMEs) called SME Asaan Finance, enabling...

404

LSM sector grew by 14.85 percent in FY21

The overall increase has been seen in the Large Scale Manufacturing (LSM) sector by 14.85 percent during 2020-21 (FY21) against the previous...

305

Mutual fund assets soar 64.3% to cross Rs 1 trillion mark in FY21

The assets managed by the mutual fund 20-odd companies, has crossed one-trillion-rupee for the first time by the last day of the outgoing fiscal year. The...

437

Pakistan received record $2.71 billion remittances in July

Pakistan has received the third largest workers’ remittances amounting to $2.71 billion in July, the first month of current fiscal year. The...

378

Dollar hits 10-month high against rupee, crossing Rs 164 mark

On Thursday, the US dollar surpassed the Rs 164 barrier for the first time in ten months after SBP let the rupee...

932

How McDonald’s cryptic ‘Podina Le Aun’ message became a marketing misfire

Almost all Pakistanis received a cryptic message from McDonald’s, asking a simple question, “podina ly aun??” and people were unable to make any sense...

359

Pakistani exports to United Kingdom up 33 percent

The fiscal year 2020-21 witnessed a big increase in the exports to the United Kingdom by 33% to 2.025 billion as compared...

656

Footwear production plunges 35% in FY21 amid Covid restrictions

The formal footwear production has plunged in 2020-21 amid covid-induced lockdowns and restricted timings of markets. According to the report released by the Pakistan Bureau...

243

Pakistan to terminate 23 bilateral investment treaties

Pakistan has decided to terminate 23 bilateral investment treaties (BITs) with different countries in order to avoid international arbitration with foreign firms...

412

Pakistan trade deficit widened to a record $3.058 billion in July

The present government has been claiming to squeeze the trade deficit but things are now alarming as according to the data, issued...

210

Pakistan’s exports to Italy record 49 percent growth

Pakistan’s exports to Italy has recorded a 49 percent growth on a year-on-year basis to $786 million in the outgoing fiscal year...

336

Pakistan Investment Bonds fail to attract any foreign inflows during July

The first month of the 2021-22 financial year has passed without any foreign inflow in the Pakistan Investment Bonds (PIBs). According to the report...

296

FPCCI holds training session for using Amazon platform

According to a statement released on Wednesday, the Federation of Pakistan Chambers of Commerce and Industry (FPCCI) organized an education campaign to...

250

Pakistan, Bahrain sign MoU to promote bilateral businesses

Pakistan and Bahrain have signed MoU to promote bilateral businesses, will focus on sectors like healthcare and education, tourism, logistics, manufacturing, financial...

486

Pakistan records 9% rise in regional exports of fiscal year 2021

Pakistan’s exports regional countries saw a growth of 9.14 percent while imports grew by nearly 36 percent in FY21 from a year ago. ...

406

Pakistan could overtake India in trade with China in eight years

Even though Pakistan’s trade volume with China was barely one-fifth of India’s in 2020, a Pakistan ambassador predicted that Pakistan might surpass...

349

China has not banned rice imports from Pakistan, clarifies Commerce Ministry

China has not imposed any restrictions on rice shipments from Pakistan, according to the Ministry of Commerce. In a statement, the ministry...

270

IMF acknowledges growth in Pakistan’s economic activity

IMF has acknowledged the country’s stronger economic activity and believed the global economy to expand by 6 percent this year. On Tuesday, the International Monetary Fund...

873

Pakistani fintech Dastgyr raises $3.5 million in seed round

Pakistani fintech Dastgyr has raised a $3.5 million seed round led by SOSV, takes the total capital secured so far to $4 million, including the angel...

359

Pakistan ranks top 10 nations in business environment

According to a new report by global think tanks, Pakistan has now become one of the 10 top economies with the most...

315

Export of textiles soars to $15.4 billion in FY21

The export of textiles greatly increase during the fiscal year 2020-21 to the extent of 22.94%, revealed by the Pakistan Bureau of...

771

Pakistani rupee weakens against US dollar in interbank market, closes at 162.32

According to data, the Pakistani rupee lost another 0.52% to close at 162.32 against the US Dollar in the interbank market on Friday,...

238

Credit to private sector spikes 12 percent to Rs 6.82 trillion

Credit to private sector by the banking system jumped 12 percent to a total of Rs 6.82 trillion in the previous fiscal...

294

Indonesia-Pakistan B2B online portal launched

In order to facilitate increased trade between both the countries, Punjab Board of Investment & Trade (PBIT), Embassy of the Republic of Indonesia...

325

LSMI output grows 37 percent in May, 14.56 percent in 11 months

The output of Large-Scale Manufacturing Industries (LSMI) increased by 14.57 percent in July-May 2020-21 compared to 11MFY20. According to the Pakistan Bureau...

383

Bank deposits surge to all-time high in FY21

Around Rs 16.2 trillion were the bank deposits on June 30, 2020, whereas, the deposits reached the height of Rs 19.8 trillion on the...

480

Despite challenges, Pakistan sees cryptocurrency boom

Pakistan has seen a boom in trading and mining cryptocurrency, with interest booming in 1000s of views of related videos on social...

377

Pakistan included in Asian Growth Cubs ETF listed on NYSE

Dawn Global has launched the Asian Growth Cubs Exchange Traded Fund (ETF) listed on the New York Stock Exchange (NYSE) on 17th June...

335

Investment by Islamic banking industry rises by 23 percent

The Islamic Banking Industry (IBI) invested 23 percent more than the deposit growth during Jan-March 2021 (3QFY21), according to report issued by the State...

612

First Amazon Center in South Punjab to be inaugurated after Eid

According to a top-level government official, Pakistan Post is set to inaugurate Pakistan’s first Amazon Fulfillment and Facilitation Center (AFFC) in South...

242

Singapore investors urged to set up industries in CPEC SEZs

China-Pakistan Economic Corridor (CPEC) Chairman Lt Gen (retd) Asim Saleem Bajwa called upon investors from Singapore to tap into the opportunities being developed at the...

390

Islamabad, Kabul sign to extend APTTA for 6 months

Islamabad and Kabul signed the protocol for a six-month extension of the Afghanistan–Pakistan Transit Trade Agreement 2010 (APTTA). In a video link ceremony, held on Thursday,...

315

Banks see 43 percent jump in calendar year 2020 profits despite Covid

The profits of Pakistani banks have surged by 42.92 percent in the calendar year 2020, according to the stats released by State Bank of...

261

Nigeria urges Pakistan to establish more banking channels for bilateral trade

Nigeria has has called for the establishment of more banking channels to facilitate bilateral trade between Pakistan and Nigeria. On Monday, the...

277

Pakistan raises another $1 billion through Eurobond issued in March

Pakistan recently borrowed an additional $1 billion through a three-phase Eurobond issuance that raised $2.5 billion in March 2021. The bonds were...

262

Is the digital Euro on its way?

According to Saxo Markets, a stocks and shares ISA financial firm, the European Central Bank (ECB) is considering proposals for a digital...

506

Pakistan hopes to achieve mango export target of 150,000 tonnes

More than 50,000 tonnes of mangoes have been exported during the first five weeks (May 25 to June 30) of the season as Pakistan hopes to...

507

$1.6 billion sent by expats from 171 countries through Roshan Digital Accounts

Overseas Pakistanis have deposited approximately $1.6 billion through Roshan digital accounts (RDAs) from 171 countries in less than one year. The State...

327

Karachi Railways generates record Rs 18.76 billion from freight service in FY21

Pakistan railways came with outstanding performance in the area of freight with Karachi division generating record freight revenue of Rs 18.76 billion in...

407

Pakistan Post opens first Amazon facilitation centre

Pakistan Post has established Amazon Facilitation Centre to facilitate garments manufacturers and exporters on behalf of the government after becoming Amazon’s official...

660

SECP becomes first govt agency to offer WhatsApp support service

The Securities and Exchange Commission of Pakistan (SECP) has launched a WhatsApp channel for business care to quickly respond to public inquiries...

429

PIBs attract net inflow of $256 million in 12 months

Foreign investment in Pakistan Investment Bonds (PIBs) attracted a cumulative net inflow of $256 million during the outgoing financial year. During the...

304

SNGPL to suspend gas supply to select sectors in Punjab, KP

The Sui Northern Gas Pipeline Limited (SNGPL) has suspended the gas supply to CNG, cement, and non-export industry of Punjab and Khyber...

664

Exports to regional countries rise 6 percent in 11 months

Exports of Pakistan to nine regional countries witnessed a growth of 6.23 percent in 11 months of the outgoing fiscal year. According...

417

Binance, the world’s largest cryptocurrency exchange, banned by UK regulator

In what is seen as the latest sign of a growing crackdown on the crypto market around the world, largest cryptocurrency exchange...

466

Customs duty collection from 13 major sectors rise by 26.58%

The Federal Board of Revenue (FBR) raised nearly 70 percent of the total customs duty collection from 13 major sectors. An amount of...

297

SBP unveils policy for inclusion of Persons with Disabilities

The State Bank of Pakistan (SBP) has introduced a comprehensive policy to enhance the financial inclusion of Persons with Disabilities (PWDs). President...

433

Textile and clothing exports jump to $13.7 billion in eleven months

Pakistan’s exports of textile and clothing rebounded during July 2020 to May 2021 mainly due to value-added sectors and posted a robust growth of 19% as...

585

Niger to establish SEZs for Pakistan

Niger is going to establish special economic zones (SEZs) for Pakistan as it eyes to attract investment in the infrastructural sector in Africa. On...

702

Pakistani entrepreneur Mariam Adil makes it to Forbes Next 1000 list

Mariam Nusrat Adil, a Pakistani entrepreneur who is using the power of video games to inspire social change has made it to Forbes Next 1000 list, which...

409

Online marketplaces in Pakistan criticize 17 percent tax on transactions

In a recent Finance Bill, the government sought to classify online marketplaces (OMs) as “Tier 1 Retailers,” subjecting all transactions performed through...

456

BoI avoids investing funds for profit, suffers Rs 212 million loss

The Board of Investment (BoI) did not invest its funds for profit considering it Riba and suffered a loss of Rs 212.2 million. On...

684

Banks allowed to collect up to Rs 200 fee on inter bank funds transfer

According to the State Bank of Pakistan’s recent instructions about changes to the pricing mechanism of inter bank funds transfer online, a...

552

BoI launches PRMI, SEZMIS & IRMS online platforms to accelerate business environment

The Board of Investment (BoI) has launched three platforms, will provide local and foreign investors ease in online registration. On Monday, BoI launched 3 platforms...

637

Pakistani company Saffran Group gets 3.2m order from Japanese corporation

Japanese company Bears Inc has placed a $3.2 million order with Pakistani Saffran Group company for creation of an information technology platform...

565

Large-scale manufacturing expands by 68pc in April, 13pc in 10 months of FY 2021

Large-Scale Manufacturing (LSM) in Pakistan has seen a growth of 68.07 percent in April whereas, the sector’s output grew 12.84 percent in...

602

Exports increase by 14 percent in Jul-May 2021

The exports from Pakistan has witnessed an increase of 13.97 percent during the first 11 months of the current fiscal year (11MFY21). ...

223

Private sector borrowing from banks jumps by 70 percent

The private sector’s borrowing from banks jumped by 70 percent in the first 11 months of the current fiscal year, reflects higher...

420

Pakistan plans to impose additional tax on cigarette industry

Health ministry of Pakistan wants to increase 30 percent of the tax rates for the cigarette industry, federal government considering the proposal. ...

446

State Bank to introduce collateral-free loan scheme for cottage industry

The State Bank of Pakistan (SBP) is going to launch a clean loan scheme for the cottage industry for up to Rs 10 million financing. “Government deserves...

562

Pakistan’s various sectors ready to receive CPEC benefits

Pakistan’s various sectors are ready to receive maximum benefits from the China-Pakistan Economic Corridor (CPEC) project which is considered a game-changer for Pakistan. According to experts...

Securities and Exchange Commission of Pakistan

420

SECP registered 1,597 new businesses in May, a growth of 107 percent

The Securities and Exchange Commission of Pakistan (SECP) have registered 1,597 new businesses, more than doubled in May compared to the last...

571

Cement sales up 41 percent in May despite increase in price

The local sales of cement jumped 41 percent in spite of the long Eidul Fitr holidays and price increase by manufacturers in...

486

E-earn program for 10,000 freelancers inaugurated in Punjab

Yasir Humayun, the Punjab Higher Education Minister and head of the Punjab Information Technology Board (PITB), has launched the e-Earn scheme, which...

869

Japanese firm Bold Investment to invest in Pakistan’s tech sector

A Japanese firm, Bold Investment, has established its investment arm in Pakistan with aims to rise growth and potential in technology space...

635

US largest supermarket company Kroger Co. adds Pakistani products

The third largest retail store chain in the US, the Kroger Co. has added Pakistani food products to its outlets, announced Abdul Razak Dawood. ...

863

Pakistan Post becomes Amazon official delivery partner

Just weeks after Amazon opened up its platform to Pakistani sellers, Pakistan Post Office has been formally authorized as the delivery partner...

461

‘Economic growth to catch pace in coming years, GDP to reach 6% by 2023’

As the government is preparing the budget for the upcoming fiscal year, the economic growth rate of Pakistan would catch pace next...

343

28 percent growth in bank advances via credit cards during April 2021

Bank advances via credit cards have swelled by 28 percent to Rs 53 billion in April from Rs 42 billion in the same...

461

Current account posts $773 million surplus in July-April

The current account of the country continued to surplus with $773 million during the first 10 months of the current fiscal year...

458

PM Imran set aside Rs 100 billion for startup loans to end unemployment

Prime Minister Imran Khan has announced Rs 100 billion fund for startup loans and 170,000 skilled education scholarships so that the challenge...

306

Rise in bank deposits outpaces advances growth in first 10 months of FY21

The banks used to invest their largest part of liquidity in the government papers which are risk-free and give high yields. After...

385

Mango export target set at 150,000MT for current season

All Pakistan Fruit and Vegetable Exporters, Importers & Merchants Association (PFVA) has set the target of mango export at 150,000 metric tons...

335

Foreign direct investment falls by 32.5 percent in July-April FY21

Foreign direct investment has fallen by 32 percent during the 10 months of the current fiscal year from July to April of...

624

Pakistan’s exports to Australia have increased by 30pc, says Australian envoy

In a webinar meeting, Australian High Commissioner Dr Geoffrey Shaw announced the increase of Pakistan’s exports to Australia by 30 percent. On...

524

Roshan Digital Accounts mark upward trend after PM’s visit to KSA

Roshan Digital Accounts has witnessed a noteworthy upward trend following Prime Minister Imran Khan’s recent visit to the Kingdom of Saudi Arabia. ...

497

Pakistan’s National incubation center, ‘IGNITE’ recognized by the UN

Pakistan’s National Incubation Center, ‘Ignite’ has been recognized by the International Telecommunication Union, an agency or digital tech run under the United...

684

Loan infection ratio of banking sector rises to 9.3 percent

The banking sector’s infection ratio rose from 8 percent in December 2018 to 9.3 percent at the end of March this year, according to...

618

Four SEZs to create 1.47 million jobs, boost industrial growth

The four Special Economic Zones (SEZs) are expected to create as many as 1.47 million jobs besides playing a vital role in boosting local industry. The...