Business
IMF Executive Board approves budget for FY20
Islamabad, April 23, 2019: The Executive Board of the International Monetary Fund (IMF) has approved the fund’s administrative and capital budgets for financial year (FY) 2020, beginning on May 1, 2019. According to IMF press statement received here Tuesday, the board had approved the budget on April 5, 2019, besides taking note of indicative budgets…
Estate Agents must Registered and get license for Brokerie: Sindh Government
Karachi, April 23, 2019: Sindh government has decided to register estate agents and licenses for brokerage. Estate Agents and Brokers will have to get registered and get licensed with the Government of Sindh. This registration aims to make the right ventilation of the property. According to the detail, the Federal Board of Revenue decided to…
ITFC to provide $551 mln financing facility for oil import
Islamabad, April 22, 2019: Abdul Hafeez Shaikh, Adviser to the Prime Minister on Finance, Revenue and Economic Affairs witnessed the signing a trade financing facility amounting to US$ 551 million with the International Islamic Trade Finance Corporation (ITFC), a subsidiary of Islamic Development Bank (IsDB) Group, for imports of oil and LNG. This facility will…
Pakistan’s gas sector attracts huge foreign, local investment
Islamabad, April 22, 2019: The All Pakistan CNG Association (APCNGA) on Monday said over twenty multinational and local companies are keen to invest billions in the gas sector of Pakistan which should be welcomed. These companies are inclined to invest in the construction of new gas terminals, gas supply to consumers and laying down new…
PSO earnings decline 64 percent
Karachi, April 22, 2019: Pakistan State Oil (PSO) posted 64 percent YoY decline in its third quarter of this fiscal year (3QFY19) earnings, below our expectations due to inventory loss of around Rs200 million during the outgoing quarter (vs. inventory gain of R1.7bn in 3QFY18) and lower penal income. The company recorded loss of around…