Pakistan Today

ISLAMABAD: Special Assistant to the Prime Minister on Petroleum Nadeem Babar has said that construction work on the 1,100-kilometre Pakistan Stream Gas Pipeline Project will begin in July next year to transport liquefied natural gas (LNG) from Karachi to Lahore. In an interview, Nadeem Babar said that Pakistan will have a majority share of 51pc to 74pc in the project, while...

The foreign exchange reserves held by the State Bank of Pakistan remained stable on a weekly basis, according to data released by the central bank on Thursday. On December 11, the foreign currency reserves held by the SBP were recorded at $13,298.8 million, the same as in the previous week. The SBP gave no reason for the unchanged reserves. Overall, liquid foreign...

Uber in Pakistan has announced the launch of Uber Connect, a delivery tech solution that enables users to send/receive packages and request for deliveries through the Uber app. The additional service will further support the growing community of customers and drivers who have come to depend on the technology company, especially as the country deals with a second Covid-19 wave. Uber...

Ministry proposes incentives worth Rs950bn; sets export target at $21bn

ISLAMABAD: Minister for Economic Affairs Makhdum Khusro Bakhtyar on Thursday said that Pakistan will share its experience in fields of social protection and poverty alleviation, textile, dairy and milk products under the South-South Cooperation (SSC). He said this during a virtual meeting which he co-chaired along Islamic Development Bank (IsDB) Group President Dr Bandar Hajjar online launch of the report...

Gross loans during July-Nov FY21 were equal to 37pc of the annual budget estimate of $12.23bn

ISLAMABAD: Adviser to Prime Minister on Commerce and Investment Abdul Razak Dawood has said that Gwadar Port will provide energy-rich Central Asian Republics (CARs) and Afghanistan huge opportunities for regional trade connectivity. Speaking with the APP here on Thursday, he said that the government is prioritising the economic integration to promote regional trade and connect important regional trade players with...

ISLAMABAD: Prime Minister Imran Khan has appointed Amer Ahmed Hashmi as chairperson for the Special Technology Zones Authority (STZA). According to the ordinance passed on Dec 2 for the establishment of Special Technology Zones Authority, the new authority will focus on the growth of scientific and technological ecosystem in the country, primarily by fostering the development of technology zones and...

ISLAMABAD: Pakistan Tobacco Company (PTC), which is a subsidiary of British American Tobacco, has announced to establish its business process outsourcing (BPO) hub in Pakistan, which will be used to cater the markets of Asia Pacific and Middle East region. "I am excited to share with you all that Pakistan Tobacco Company has announced its plan to set up a...

NEW YORK: The world’s largest cryptocurrency by market capitalisation, bitcoin, has reached another milestone in less than 24 hours as its price topped $22,000. Bitcoin jumped nearly 15pc in one day and reached $22,327 early on Thursday, setting a new historic high. It was trading at around $22,200, according to Coindesk data as of 6:57am GMT. After the recent rally, believed...

ISLAMABAD: Pakistan has so far failed to effectively tax cigarettes in a bid to increase revenue and discourage consumption of tobacco products, with the country scoring 0.88 points out of five on the cigarette tax scorecard, including 170 countries, according to a report released by The Tobacconomics. The four scoring components used include the absolute price of cigarettes, changes in...

KARACHI: Bullish run at the Pakistan Stock Exchange (PSX) continued unabated on Thursday, as equities rallied all day long to help the index post significant gains. Global equity markets also showed a positive trend, whereas crude oil prices inched further up from the previous close; WTI crude price rising 0.42pc to $48.03 while Brent crude price appreciating 0.33pc to $51.25...

The Sindh High Court (SHC) issued on Thursday a show-cause notice to Federal Investigation Agency's (FIA) Cybercrime Wing deputy director regarding action it has been taking against cryptocurrency owners. A division bench of the SHC restrained FIA from taking further action in this regard. "Why is the agency taking action when it has no jurisdiction to do so," the court questioned,...

Pakistan's net Foreign Direct Investment (FDI) stood negative at $16 million in November 2020 compared to positive $192.4 million in the same month of last year, data released by the State Bank of Pakistan showed. FDI has become negative after a gap of two years, as power and telecom firms operating in Pakistan apparently had to transfer funds to their...

ISLAMABAD: Prime Minister Imran Khan on Thursday noted that all economic indicators of the country were on a positive trajectory; however, promotion of small and medium enterprises (SMEs) was a must to bring further improvement. Chairing a meeting of the National Coordination Committee (NCC) on SMEs, he said that small enterprises are an important component of the country and their...