Work on four SEZs at advance stage: official
ISLAMABAD: Work on four of the total nine Special Economic Zones (SEZs) along with Gwadar Free Zone under the auspices of the China-Pakistan Economic Corridor (CPEC) are at an advanced stage, an official said on Monday. –HAMZA HABIB
FBR organises AML/CFT training sessions
ISLAMABAD: The Federal Board of Revenue (FBR) in collaboration with the United Nations Office on Drugs and Crime (UNODC) organised capacity-building training sessions on AML/CFT compliance in Lahore, a statement said on Monday. –HAMZA HABIB
LCCI seeks steps to curtail increase in dollar value
LAHORE: The Lahore Chamber of Commerce and Industry (LCCI) has urged the government to take measures for curtailing increase in dollar to reduce pressure on the foreign exchange reserves, a statement said on Monday. –Iqtidar Gilani
SME Bank’s privatisation halted on lukewarm response, Senate panel informed
ISLAMABAD: No progress has been made on the privatisation of the SME Bank because of lukewarm response to the Privatisation Commission from the pre-qualified bidders so far. –HAMZA HABIB
PSX remains bearish amid profit-taking
KARACHI: The Pakistan bourse witnessed a profit-taking session on the first day of week, as the negotiations between Pakistan and the International Monetary Fund (IMF) have not ended yet; thus, exerting pressure at the bourse. –JAVED MIRZA
ECC relaxes PPRA rules for urea import
ISLAMABAD: The Economic Coordination Committee (ECC) of the Cabinet on Monday recommended relaxation in the Public Procurement Regulatory Authority (PPRA) rules for the import of urea and also approved the payment of second installment to the independent power producers. –HAMZA HABIB
FBR raises steel products valuation for sales tax collection
KARACHI: The Federal Board of Revenue (FBR) on Monday increased the valuation of steel products for the collection of sales tax. The FBR increased the values up to 9.28 per cent on various products of steel. –SHAHNAWAZ AKHTER
Rupee recovers 44 paisas against dollar
KARACHI: The rupee recovered 44 paisas against the dollar in the interbank exchange market on Monday, owing to the recent measure taken by the central bank to increase the average cash reserve requirement. –SHAHNAWAZ AKHTER
SBP digitalises process for banking policy regulatory approvals
KARACHI: Building upon its initiative of end-to-end digitalisation of the regulatory approval process, known as the Regulatory Approval System (RAS), a statement said on Monday. –SHAHNAWAZ AKHTER
Unity Foods announces Rs5.4 billion right issue
KARACHI: Unity Foods Limited will sell 200 million right shares at Rs27/share to raise Rs5.4 billion to meet the increased working capital requirements of the company, a bourse filing said on Monday. –JAVED MIRZA
PIA starts fifth direct flight to Toronto
KARACHI: The Pakistan International Airlines (PIA) has introduced the 5th weekly frequency to Toronto with direct flights from Karachi, Lahore and Islamabad, the airline tweeted. –JAVED MIRZA
NBP ready to facilitate Chinese firms in relocating industrial units to Pakistan
BEIJING: The National Bank of Pakistan (NBP) is ready to facilitate the Chinese companies relocate their businesses and industrial units to Pakistan under the China-Pakistan Economic Corridor (CPEC) framework, a bank official said. ‑APP
Overseas Pakistanis send $10.6 billion in four months
KARACHI: The inflow of workers’ remittances has increased 12 per cent to $10.6 billion during the first four months (July–October) of the current fiscal year 2021/22, the State Bank of Pakistan (SBP) said on Sunday. SHAHNAWAZ AKHTER
FPCCI calls for solid measures to advance CPEC projects
KARACHI: The Federation of Pakistan Chambers of Commerce and Industry (FPCCI) officials have expressed concern over the negligible progress and slow pace of development on the China-Pakistan Economic Corridor (CPEC), a statement said. –LATIFUR REHMAN