State Bank releases Second Quarterly Report on the State of Economy

State Bank releases Second Quarterly Report on the State of Economy

The State Bank of Pakistan today released its Second Quarterly Report on The State of Pakistan’s Economy for FY19. As stated by the report, the effects of macroeconomic stabilization measures taken since December 2017 started to unfold as the economy moved into the second quarter of FY19. More specifically, monetary...

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Abu Dhabi launches Dhs 1bn mega hub to boost tech start-ups

Abu Dhabi launches Dhs 1bn mega hub to boost tech start-ups

ABU DHABI: The Abu Dhabi government has just launched a Dh1 billion mega hub that seeks to accelerate the local economy by bringing together start-ups, innovators and global powerhouses in the technology industry. U.S. tech giant Microsoft will be a strategic partner, providing technology and cloud services to the businesses that join...

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SBP reiterates currency note features to help visually impaired persons

SBP reiterates currency note features to help visually impaired persons

It has come into the notice of SBP that visually impaired persons find it difficult to recognize and distinguish amongst different Pakistani currency notes. SBP, for the information of the general public and specifically visually impaired persons, reiterates that Pakistani currency notes have specific features to help the visually impaired...

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PTI sacks SNGPL chief over inflated gas bills to nearly 3mn consumers

PTI sacks SNGPL chief over inflated gas bills to nearly 3mn consumers

ISLAMABAD: The government has sacked managing director of the Sui Northern Gas Pipeline Company Limited (SNGPL) for issuing inflated gas bills to over three million consumers during winters. According to a notification, the SNGPL board on Wednesday decided to remove the incumbent MD Amir Tufail and gave the additional charge of...

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SBP Announces Concessionary Financing Facility for Special persons

SBP Announces Concessionary Financing Facility for Special persons

State Bank of Pakistan issued a concessionary Small Enterprise Financing and Credit Guarantee Facility for Special persons. Mr. Tariq Bajwa, the Governor State Bank of Pakistan announced this special facility in the 7th meeting of the National Assembly Standing Committee on Finance, Revenue and Economic Affairs held at State Bank...

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Prices of tomato and chilli hit high in local market

Prices of tomato and chilli hit high in local market

LAHORE: Prices of tomato and chilli have gone up manifold in the city in the last couple of months. Tomatoes were available on an average rate of Rs24 per kg in the corresponding period in the last year but the vegetable fruit is being sold from Rs100 to Rs200 per...

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Biometric verification of Hajj pilgrims likely to start from next week

Biometric verification of Hajj pilgrims likely to start from next week

ISLAMABAD: Biometric verification of Hajj pilgrims of government scheme will start from next week, said official sources on Sunday. The sources said that the intending pilgrims would be informed about their biometric schedule via telephone or sms service. According to the details the process of biometric verification of intending pilgrims...

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Automated tax collection system soon to be introduced across Sindh

Automated tax collection system soon to be introduced across Sindh

KARACHI: Sindh Chief Secretary Mumtaz Ali Shah on Wednesday said that tax collection system will be shifted from manual procedures to a computerized version by the provincial government, media sources reported. Mumtaz Ali Shah made the announcement while chairing a meeting to discuss strategies for betterment in tax collection in...

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Overseas Pakistanis remit US $14.3 billion in the first eight months of FY19

Overseas Pakistanis remit US $14.3 billion in the first eight months of FY19

Overseas Pakistani workers remitted US $14350.53 million in the first eight months (July to February) of FY19, showing a growth of 11.82 % compared with US $12833.64 million received during the same period in the preceding year. During February 2019, the inflow of worker’s remittances amounted to US $1576.51 million,...

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Auto dealers suffer as car sales continue their downhill run

Auto dealers suffer as car sales continue their downhill run

KARACHI: Auto assemblers faced a setback as sales of locally produced vehicles fell 13% in February 2019 amid an overall slowdown in economy. Sale of locally assembled cars in the eight months of current fiscal year declined to 140,462 units from 142,383 units during the same period last year according...

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