Business

KARACHI: The government’s budgetary borrowings grew by 17.03 per cent to Rs917.13 billion from Jul-April 19, from Rs786.67bn in corresponding period last year, latest data from the State Bank of Pakistan revealed. The government borrowing for budgetary support has taken an upward trajectory for some months now, with latest figures further supporting that trend. The total government borrowing from the …

World Bank CEO Kristalina Georgieva on Friday pledged to further strengthen cooperation with Pakistan in the areas of ‘disbursements programme lending’ and ‘guarantees provision for raising external funds’ , according to a press release received by Dawn.com. The pledge was made in a meeting with Prime Minister Imran Khan on the sidelines of the second Belt and Road Forum (BRF) in …

ISLAMABAD: Pakistan and China agreed on Friday to revive cooperation between the Chinese Investment Promotion Agency (CIPA) and the Board of Investment (BoI) to ensure investment promotion in prioritised sectors of information technology, textiles and agro-based products. BoI Chairman Haroon Sharif, who is in Beijing as part of prime minister’s delegation to participate in the second Belt and Road Forum, …

ISLAMABAD: With an addition of 700,000 consumers last year, Pakistan’s gas shortfall is estimated to jump by 157 per cent to 3.7 billion cubic feet per day (bcfd) in fiscal year 2019-20 — almost equal to total gas supplies at present. The estimates have been made by the Oil and Gas Regulatory Authority (Ogra) that put the gas shortfall increasing …

ISLAMABAD: The country’s exports to Afghanistan decreased by 24.8 per cent during the first nine months of the ongoing fiscal to $883.26 million against $1.175 billion recorded during same period last year, data released by the State Bank of Pakistan showed on Thursday. Imports from Afghanistan, however witnessed an increase of 22pc to $131.68m between July-March 2018-19 from $107.9m in …

FAISALABAD: President Arif Alvi said that Faisalabad has become the centre stage of trade and business activities in the wake of China-Pakistan Economic Corridor (CPEC) project. Addressing the Export Excellence Award ceremony organised by the Pakistan Textile Exporters Association (PTEA) here on Thursday, he said that Pakistan is expanding its business ties with more nations and signing trade agreements with …

  KARACHI: Wheat has become costlier by Rs100 to Rs3,150 per 100kg bag in the open market following reports of crop damage in Punjab due to recent rains coupled with brisk exports of the commodity. As a result, millers have raised wheat flour prices ahead of Ramazan. The price of flour no.2.5 was raised to Rs1,700 per 50kg bag from …

ISLAMABAD: Pakistan is expecting major support from China and Saudi Arabia in economic and agricultural cooperation over the next couple of days. A senior government official told Dawn that four major agreements would be signed with China during the current visit of Prime Minister Imran Khan to Beijing while the President of Islamic Development Bank was due next week to …

ISLAMABAD: The government is working on a plan to merge ministries of commerce, industries and production, and the Board of Investment (BoI) to consolidate and integrate existing institutions at the federal level to enhance effectiveness of policy reforms, ‘Dawn’ has learnt on Thursday. Following the merger, a National Competitiveness Council (NCC) will be established having relevant federal, provincial and private …

KARACHI: Stock market was in bullish frame of mind on Wednesday as the KSE-100 index washed away some of the blood, resulting from the bear rampage a day ago that had dragged the index to a three-year low. The market remained green on Wednesday with the index making intraday high by 329 points and closing with gain of 100 points …