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Russia nods suspending debt service for Pakistan
KARACHI: Minister for Economic Affairs Sardar Ayaz Sadiq said that 8th Intergovernmental Commission (IGC) would lay foundation of ‘new relationship’ between Russia and Pakistan in different sectors including energy, economy, trade, techno...
Pak-Iran trade to further strengthen economy: PML-N leader
Karachi: Central leader Pakistan Muslim League-Nawaz Khawaja Rameez Hassan talking about promotion of Pakistan-Iran relations said that increase in volume of Pakistan-Iran trade will be milestone in strengthening of economy. He said that recent &lsq...
Political parties playing dirty: Ex-President KCCI
KARACHI: Former President of Karachi Chamber of Commerce and Industry (KCCI) said that political parties have been playing dirty for past 10 to 15 years. “Unfortunately economic climate in country is poor and I predict that factories will colla...
KSE-100 index lost 423pts owing to uncertainty
Karachi: Negative sentiment gripped Pakistan Stock Exchange (PSX) as benchmark KSE-100 Index witnessed fall of over 1 percent during trading session. By end of session, benchmark index closed with loss of 423.6 points or 1.09 percent to 38,407.98 lev...
PYMA pleas SBP to remove hurdles in clearance of textile raw materials
KARACHI: Pakistan Yarn Merchants Association (PYMA) informed Governor State Bank of Pakistan, Jameel Ahmed of serious situation arising from obstacles in clearance of textile import raw materials. It requested for facility of Letter of Credits (LCs)...
Jam Dharejo orders to prepare summary of 1bn for KATI
Karachi: Sindh Minister for Industries and Cooperatives Jam Ikramullah Dharejo issued orders to Secretary Industries to prepare summary of one billion rupees for development work of Korangi Industrial Area. Talking to Korangi Association of Trade and...
SITE President demands SBP, MoF to take emergency measures to avert national crises
KARACHI: President SITE Association of Industry Riazuddin criticised handling of present situation in country where forex crisis has almost halted business activities across all segments of business, notably for industries which pay almost half of na...
Gov SBP sees rise in forex reserves amid expected influx next week
KARACHI: Governor State Bank of Pakistan (SBP) Jameel Ahmad expressed hope that country’s foreign exchange reserves would increase after influx of dollars next week, saying process to open letters of credit (LCs) would be restored soon. Address...
First Habib Metro Sirat Islamic Banking Summit held
Karachi: Habib Metro organised first HABIBMETRO Sirat Islamic banking summit attended by stakeholders including SBP, PSX and SECP officials as well as CEO’s and Shariah Board members of banks, Shariah scholars and businessmen. Summit was held i...
Concern over worst financial crisis for LCs, retirement of documents: PSMA Chief
Karachi: Chairman Pakistan Soap Manufacturers Association (PSMA) Syed Anwer Suhail Razvi expressed concern over worst financial crisis, with which entire economy of country in grip as Letters of Credit and retirement of documents is not being honoure...
