Around 12,000 vehicles stuck amid sugarcane farmers’ protest on January 2, 2018Karachi: Exporters of Kinnow and other perishable goods have sought governments’ intervention to save commodities worth billions of rupees stuck up near Ranipur due to an ongoing protest of sugarcane growers. Goods transporters on Monday claimed that around 12,000 vehicles have been stuck due to the protests in Sindh. “The protestors have blocked roads with […]
‘SAARC headquarters in Pakistan is a matter of great honour for us’ on December 26, 2017KARACHI: Construction of South Asian Association Regional Cooperation (SAARC) headquarters building in Pakistan is underway and it is honour for the country and the business community, said Iftikhar Ali Malik, Chairman of United Business Group UBG. Addressing members of executive committee of FPCCI at the an event organized by All Pakistan Fruit & Vegetable Exporter, […]
Current account deficit increases to $6.4 billion on December 21, 2017KARACHI: Pakistan’s external financial position continues to deteriorate due to rising import bill as the country’s current account deficit rose to $6.4 billion in the first five months of the fiscal year. The deficit was $3.3 billion in the same period last year. The current account deficit has increased to 4.5 percent of gross domestic […]
Equities close as investors fear political unrest on December 20, 2017Karachi: Pakistan equities continued to decline on Tuesday with KSE100 Index settling down by 465 points and 109 million shares changing hands at the exchange. Market witnessed its lowest closing of 2017 as investors preferred to sell stocks due to the prevailing political uncertainty. Stocks closed lower on investor concerns for economic uncertainty amid surging […]
Pakistan attracts $1.1bn foreign investment in 5MFY18 on December 16, 2017Karachi: Foreign Direct investment FDI continued to show encouraging growth as in the first five months of current fiscal year (July-November), 5MFY18, FDI posted substantial growth of 57 percent to $1,146.4 million as compared to $729.4 million invested during the same period of the previous fiscal year, FY16, State Bank of Pakistan data shows. China […]
‘Poor’ policies blamed for rupee depreciation on December 14, 2017KARACHI: Sindh Home Minister Sohail Anwer Siyal has said that the wrong planning of the Pakistan Muslim League-Nawaz (PML N) government has resulted in the depreciation of the Pak rupee against dollar. Addressing members of the Karachi Chamber of Commerce and Industry (KCCI) on Wednesday, Siyal admitted that the situation of law and order in […]
Pakistan Customs acquires surveillance boats worth Rs 300m on December 9, 2017KARACHI: Pakistan Customs has acquired two modern surveillance boats worth Rs 300 million to prevent smuggling by ensuring access to the open sea. The hull of one of the purpose-built boat imported from Turkey was being fitted with equipment at Karachi Shipyard and would be handed over by February next year, said Customs Collector (Preventive) […]
SBP receives $2.5bn in proceeds from international bonds on December 8, 2017KARACHI: State Bank of Pakistan on Thursday confirmed to have received $2.5 billion on December 05, as proceeds from Pakistan sovereign bonds and Pakistan international sukuk. During the week ending November 30, 2017, SBP’s reserves decreased by $887 million, to $12,660.5 million, due to external debt and other official payments. However, with the payment received […]
Islamic banking industry profits up by 44 percent: SBP on December 7, 2017KARACHI: The profit of Islamic banking industry has shown substantial increase of 44 percent or Rs 5.4 billion, to Rs 17.6 billion, in the first quarter of current fiscal year FY 17, as compared to Rs. 12.2 billion in the previous quarter, State Bank of Pakistan said in its Islamic banking bulletin issued on Wednesday. […]
Increased power generation rekindles hopes of zero load shedding on December 6, 2017KARACHI: With the commissioning of the second unit of Port Qasim coal-fired power plant early next year, the country will be producing additional 1320MW electricity that will usher Pakistan into an era of surplus power generation after years of dismal performance and prolonged load shedding. People in Pakistan have suffered in the past due to […]