Pakistan’s equity remains volatile on political uncertainty

KARACHI: Pakistan Stock Exchange (PSX) remained under pressure the entire week ended April 19, 2019 owing to lack of clarity over the PM’s decision to make changes in the cabinet, which finally ended with major changes including the removal of Asad Umar from the Finance Ministry. [the_ad id=”31605″]“Failure to get… Continue reading

Ministry of Petroleum to fully utilize Railways’ capacity for petroleum products transportation across country

ISLAMABAD: Ministry of Railways and Ministry of Petroleum have jointly initiated assessment of the prospects of petroleum products through railways across country.[the_ad id=”31605″]The Ministry of Petroleum briefed the Economic Coordination Committee ECC on the implementation of the committee’s decision regarding utilization of services of Pakistan Railways for transportation of petroleum… Continue reading

No need of further Pak Rupee devaluation, says Asad Umar

KARACHI: Federal Finance Minister Asad Umar has said that Pak Rupee was very over-values and it caused much loss to the national economy and added the local currency had attained market equilibrium and there was no need for further devaluation. Speaking through video link at Pakistan Stock Exchange (PSX) on… Continue reading

In times of economic crisis, Pakistan’s auto assemblers making a fortune

KARACHI: At a time when the entire business community and traders are observing business contraction, declining revenues and downsizing, thanks to the policies of Finance Minister Asad Umar, the local automobile assemblers are dancing with joy, again thanks to the policies of Asad Umar. First, the import of automobiles was… Continue reading

SBP launches Electronic Money Institutions Regulations

KARACHI: The State Bank of Pakistan (SBP) held Monday the launching ceremony of regulations of Electronic Money Institutions (EMIs) in Islamabad. Federal Minister for Finance, Revenue and Economic Affairs, Asad Umar was the chief guest. EMIs are non-bank entities that will be licensed by the SBP to issue e-money for… Continue reading

IMF Mission Chief meets Finance Minister

ISLAMABAD:Finance Minister of Pakistan Asad Umar, met the IMF Mission Chief Ernesto Ramirez Rigo on Tuesday and gave him a briefing on all issues including fiscal, monetary, structural and energy sector reforms hoping a bailout deal in the next six weeks.[the_ad id=”31605″]Pakistan has not budged from its position on all… Continue reading

Pakistan targets $5.5 billion additional exports by 2023

ISLAMABAD: PTI government has set  National Financial Inclusion Strategy (NFIS) targets for the next 5 years, which will help to create at least 3 million new jobs and additional exports of $5.5 billion by 2023. Government is fully committed to improve the livelihoods of Pakistanis through job creation, promoting entrepreneurship… Continue reading

Singapore business delegation meets Finance Minister Asad Umar

ISLAMABAD: Finance Minister Asad Umar received the visiting Singapore business delegation for a meeting here on Thursday. Secretary Board of Investment was also present on the occasion. Finance Minister said the present government had taken steps for ease of doing business and facilitating both domestic and foreign investors with various… Continue reading

All upcoming renewable energy projects to be treated under RE Policy 2019

ISLAMABAD: The Cabinet Committee on Energy (CCoE) in its meeting chaired by Finance Minister Asad Umar on Wednesday, approved proposals from Power Division providing for all future Renewable Energy investments to be treated in line with the RE Policy 2019 that envisages a framework consistent with the current international market… Continue reading