Pakistan, World Bank sign loan agreement worth $304 million

ISLAMABAD-Pakistan and World Bank on Wednesday have signed a loan agreement for “Punjab Resource Improvement and Digital Effectiveness Programme (PRIDE)” worth $304 million. Ministry of Economic Affairs Secretary Noor Ahmed, signed the loan agreement on behalf of the Government of Pakistan while the representative of Government of […]

ECC approves policies for mobile device, electric vehicle manufacturing, removes 4% tax on local phone production

ISLAMABAD, : The Economic Coordination Committee (ECC) on Wednesday approved different policies pertaining to Mobile Device Manufacturing, Electric Vehicles, New Re-lending-2020 in addition to removal of 4 percent tax on locally manufactured phones and issuance of offshore Pakistan Rupee-linked Bonds to the International Finance Corporation […]

Prices of basic food commodities declining, claims NPMC

ISLAMABAD- National Price Monitoring Committee (NPMC) on Monday noted that prices of basic food commodities are showing decline due to the policies of the incumbent government. Finance Minister Dr Abdul Hafeez Sheikh chaired a meeting of NPMC yesterday. The National Price Monitoring Committee (NPMC) reviewed the […]

Rupee sheds 34 paisas against US dollar

ISLAMABAD-The exchange rate of Pakistani rupee weakened by 34 paisas against the US dollar in the interbank trading on Monday and closed at Rs160.47 as compared to the previous day’s closing of Rs160.13. Meanwhile, according to Forex Association of Pakistan, the buying and selling rates […]

10 economic zones to be established in Rawalpindi

RAWALPINDI-Rawalpindi Development Authority (RDA) Chairman Tariq Mehmood Murtaza has said that 10 economic zones would be developed along Rawalpindi Ring Road (RRR) which would help boost economic activities in Rawalpindi region. Tariq Mehmood said that the incumbent government was well aware of the problems being […]

Govt procures LNG at four-year lowest rate

ISLAMABAD-The Petroleum Division (PD) on Sunday shared a comparative statement about the purchase of Liquefied Natural Gas (LNG) for a period from December-2017 to January-2021, which showed the government procured the commodity at the lowest rate for the current and next months. According to the statement placed […]

Govt managing debt with discipline: Finance Ministry

ISLAMABAD, : The finance ministry on Sunday clarified that the government had inherited a precarious debt situation which it managed with discipline, aggressive control of expenses and increase in tax and non-tax revenues. In a tweet, the ministry said, the government efforts yielded primary surplus […]

Gold prices up by Rs350 per tola

ISLAMABAD- The price of 24 karat gold increased by Rs350 on Saturday and was traded at Rs110,800 against its sale at Rs.110,450. The price of 10 grams gold also witnessed increase of Rs300 and was traded at Rs 94,993 against its sale at Rs 94,693 while 22 karat gold […]

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