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Finance Minister Ishaq Dar kicks off SECP’s web portal ‘Jama Punji’

Advertisements ISLAMABAD: The Federal Minister for Finance, Senator Mohammad Ishaq Dar has kicked-off the investor education web portal -‘Jama Punji’- of Securities and Exchange Commission of Pakistan. The web portal has been developed to educate the investors, reported by Media and Corporate Communication Department of SECP. Advertisements Finance Minster lauded …

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Ramzan in Pakistan: Pakistan becomes the fifth largest date producer in world

FAISALABAD: According to a latest report issued by the agri experts revealed that Pakistan has become the world’s fifth largest date producer country after using the latest productive technology. Pakistan is now producing about 7 to 8 lacs tonne dates and Pakistan is also earning lot of foreign reserves by …

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Pakistan’s KSE is declared world’s best performing frontier stock market

Khaleej Times has reported that Pakistani equities have delivered 26 % a year for US dollar investors since 2009, making Karachi Stock Exchange (KSE) the best performing frontier stock exchange in the world. The report said that Pakistan has been giving numerous economic indicators in green since early 2014. The …

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30,000 solar water pumps will be installed for farmers: PM approves

ISLAMABAD: Prime Minister has endorsed a proposal seeking placing of 30,000 solar water pumps for farmers across the country at approximately Rs 12 billion. According to a senior official from the Ministry of National Food Security and Research, the summary was prepared by a special committee under the supervision of …

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Ogra seeks 16% increase in petroleum prices that likely to affect from June

ISLAMABAD: Prices for petroleum may increase by up to 16% from June 1 due to fluctuations in global crude prices. According to the sources in petroleum minister, the minister had received a summary form the Oil and Gas Regulatory Authority (Ogra) on Thursday that proposed a swell in oil prices …

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No plans whatsoever on taxing home remittance: Ishaq Dar

ISLAMABAD: Finance Minister Ishaq Dar rejected the rumours and said government has no plan to levy tax or duty on inward home remittances which is a major source of foreign exchange flows into Pakistan. It is notable that there are up to eight million Pakistanis living abroad and contributing in …

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State Bank of Pakistan slashed interest rate to 7 percent

ISLAMABAD: State Bank of Pakistan on Saturday announced to slash the interest rate. The new interest rate is 7 percent. Governor State Bank Ashraf Wathra announced the cut in interest at news conference. The cut in interest rate will help to boost business activity and attract more investment in Pakistan, Wathra said. The …

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Petroluem prices may increase up to Rs11 from June: Report

ISLAMABAD: The prices of  different products crude oil products may increase up to Rs11 from the month of June, Ary news reported.   According to report, Oil and Gas Regulatory Authority (OGRA) sources, price of petrol may increase by Rs 5.50, whereas High Octane petrol will spike to Rs 10. …

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Pakistan’s Liquid Forex Reserves at $17,749.1 million

KARACHI: Pakistan’s total liquid foreign exchange (forex) reserves are at $17,749.1 million for the week ended on May 15, 2015 as compared to $17,739.3  million of the previous week, ended at May 18, as reported by Domestic Markets & Monetary Management Department of the State Bank of Pakistan (SBP). During the said …

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Axact Fake Degrees Scandal: SECP issues show-cause notice to Axact over violation of CO 1984

ISLAMABAD: The Securities and Exchange Commission (SECP) of Pakistan has issued a show cause notice to the Axact Pvt. Ltd. company for working against its Memorandum of Association and Articles that are ‘ultra vires’ of company as per Companies Ordinance 1984. The notice has been served for non-compliance with section 496 …

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80% import duties will be reduced under the new auto policy

As the average citizen lacks heap of money to buy new four-wheeler, Pakistani auto industry has been facing challenges to grow for many years. It is unable to help that the vehicle financing system isn’t developed enough to accommodate such average people. With reformed car policy, automotive stakeholders have proposed …

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10% foreign remittance tax in Pakistan expected for FY 2016

ISLAMABAD: As corridors of  power  struggles to enhance tax collection, the state is taking a proposal that could see levy of 10% tax on profit made on foreign remittances put in savings accounts. Read Also:  No plans whatsoever on taxing home remittance: Ishaq Dar The offer appears as the government …

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SBP’s Second Quarterly Report 2015 on the State of the Economy

KARACHI: After facing some difficulties in the initial months of the fiscal year, the economy ended the first half of FY15 with some positive developments, according to second quarterly report of the Central Board of Directors of the State Bank of Pakistan (SBP) presented in parliament yesterday. According to Quarterly …

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Pakistan Economy is improving, will grow further : ESCAP Survey 2015

ISLAMABAD: Pakistan economy is improving and has been recovered much in record time that has been acknowledged by the United Nations Economic and Social Commission for Asia and the Pacific (ESCAP). According to recent survey of ESCAP 2015, Pakistan economy is expected to improve more in the coming years due …

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