ISLAMABAD: Pakistan earned US $360.034 million by providing different travel services in various countries during the first eight months of the current financial year 2021-22. This shows the growth of 10.05 percent as compared to the US $327.152 million same services were provided during the corresponding period of the last fiscal year 2020-21, Pakistan Bureau of Statistics (PBS) reported. During …

ISLAMABAD, May 19 (ABC): Pakistan’s economy grew 5.97% — after rebasing national accounts — in the ongoing fiscal year ending June 30, 2022, slightly faster than the 5.74% in the last year. For the ongoing fiscal year 2021-22, the provisional GDP growth rate has been estimated at 5.97%, with the growth of the agricultural, industrial, and services sectors at 4.4%, …

ISLAMABAD: Federal Minister for Finance and Revenue, Miftah Ismail Wednesday said that the present government was keen to attract the U.S. foreign investment in different sectors of Pakistan’s economy on priority basis. Talking to Charge d’ Affaires of the Embassy of the United States of America Angela P. Aggeler here, the minister said the present government was focusing on creating …

ISLAMABAD: The food group imports into the country during first three quarters of current financial year increased by 15.46% as against the imports of the corresponding period of last year. During the period from July-March 2021-22, different food commodities valuing $7.067 billion imported as against the imports of $6.121 billion of corresponding period of last year. The major commodities which …

KARACHI, May 19 (ABC): With the uncertainty over the revival of the International Monetary Fund (IMF) loan programme amid increasing political pressure on the government to announce snap polls, the Pakistani rupee slumped to a new historic low in the interbank market. With a fresh decline of Rs1.81, or 0.91%, the local currency was trading at Rs200.20 against the greenback …

ISLAMABAD: Ambassador of Indonesia to Pakistan, Adam Mulawarman Tugio on Wednesday said that the Indonesian government temporarily banned global palm oil exports to regulate local markets and provide subsidized palm oil to locals. While talking to APP in an exclusive interview here, he said that considering the global trade dynamics and the global supply chain, the decision was made on …

ISLAMABAD: Pakistan’s exports of goods and services to United State of America (USA) witnessed an increase of 40.27 percent during the first three quarters of fiscal year (2021-22) as compared to the exports of corresponding period of last year. The overall exports to USA were recorded as US $ 5000.275 million during July-March (2021-22) against exports of US $ 3564.575 …

ISLAMABAD: The Ministry of Finance here on Thursday clarified that there had been no fresh borrowings by the government from the State Bank of Pakistan (SBP). “In fact the government has been retiring its previous stock of debt with the SBP on its maturity,” the ministry said in a statement while responding to news circulating on social media whereby an …

ISLAMABAD: The Pakistan Stock Exchange (PSX) has presented important proposals for the federal budget 2022-23 to address economic challenges, boost national economy and grow the capital markets. Implementation of the proposals will help to document the economy and increase tax revenues, while also helping to meet important social objectives. These proposals have been submitted to the Federal Minister for Finance …

The federal government Wednesday appointed Asim Ahmad — who is an Inland Revenue Officer (IRS) of Grade 21 — as chairman of the Federal Board of Revenue (FBR). A notification to this effect was issued after the cabinet approved the summary to remove Ashfaq Ahmed Khan from the post appointing Asim as the new chairman of the tax collection authority. …