Pakistan Business News
Foreign remittance increase by 17% in Jul-Feb period
Mar 10th
KARACHI: Pakistan received 17.6 per cent higher remittances during the first eight months of the current fiscal year compared to the same period last year.
Remittances rise by 17% in Jul-Feb Period
The latest figures of remittances issued by the State Bank on Wednesday showed that despite higher average remittances during the eight months, the decline was also visible on month-to-month comparison. Read the rest of this entry »
SBP warns Pakistani banks
Feb 26th
State Bank of Pakistan (SBP)
KARACHI: The State Bank of Pakistan has directed all banks and development finance institutions that they should not retain a part of insurance premium received from customers for payment to insurer. Read the rest of this entry »
Expat Pakistanis hold back on remittances
Feb 13th
KARACHI: Overseas remittances have been declining since October 2009 despite special efforts by the State Bank and the ministry of overseas Pakistanis.
- Image via Wikipedia
The central bank on Wednesday reported that during the first seven months (July-Jan) of the current fiscal remittances increased by 21.5 per cent compared to the same period of the last fiscal.It said the country received remittances worth $5.198 billion in July-Jan of the current fiscal, showing an increase of $920.82 million or 21.53 per cent over the same period of the last fiscal year. Read the rest of this entry »
Textile promises remain unfullfilled
Feb 13th
KARACHI: Exporters of value-added textile goods face severe liquidity crunch due to non-fulfillment of assurances of benefits and relief package announced in the textile policy last year.
The 5-year policy was widely praised by the exporters about five months back as it painted a rosy picture promising lot of benefits and relief for the value added sector. Read the rest of this entry »
Pakistan Cabinet limites Yarn exports
Jan 9th
ISLAMABAD: The Special Cabinet Committee on Textile on Friday decided to limit cotton yarn exports to 40 million kg per month for the remaining six months of the current fiscal year.
Image via Wikipedia
The committee also deferred a proposal to provide two per cent rebate to spinners as a relief, Secretary Textile Dr Waqar Masood told Dawn after the meeting.
He said the decision was taken in view of an abrupt surge in yarn export over the past few weeks pushing prices for downstream local industry to an all-time high. The committee decided to cap the yarn export to 600 million kg for 2009-10 as about 360 million kg had already been exported mainly to China. Read the rest of this entry »
Pakistan Stock gain 60% in 2009
Jan 5th
- Image via Wikipedia
KARACHI: Share values at the Karachi Stock Exchange rebounded by 60 per cent during 2009, which represented not just the recoup of all of the 58 per cent loss of last year, but the highest return provided by the equity market in six years since 2003.
In dollar terms, the return stood at 50 per cent, suggesting that the foreigner pocketed profit of a dollar for every two dollars he may have invested into the Pakistani stocks at the start of the year.
The aggregate value of all shares combined (market capitalisation) surged to Rs2,706 billion ($32 billion) by the close of last trading day on Thursday. Read the rest of this entry »
Member Comments