Pakistan’s liquid foreign reserves position on 18 May 2018

The total liquid foreign reserves held by the country stood at US$16,652.2million on 18May 2018.The break-up of the foreign reserves position is as under:-

  1. Foreign reserves held by the State Bank of Pakistan: US$10,320.2million
  2. Net foreign reserves held by commercial banks : US$6,332.0million
  3. Total liquid foreign reserves                 :US$16,652.2 million

During the week ending 18 May 2018, SBP’s reserves decreased by US$479million to US$10,320million, due to payments on account of external debt servicing.

Read the rest

Mian Zahid Hussain calls for taking Steps to avoid threats to economy

President Pakistan Businessmen and Intellectuals Forum (PBIF), President AKIA, Senior Vice Chairman of the Businessmen Panel of FPCCI and former provincial minister Mian Zahid Hussain has requested the government to take remedial action to prevent the economy from imminent threats. In a statement, he said that the foreign exchange reserves of the country was depleting rapidly due to repayment of $200 million as debt servicing every week.

Read the rest

Engro Foods to increase literacy levels in Pakistan

Along with the multiple projects to create better livelihood opportunities for the dairy farmers in different districts across Pakistan, Engro Foods Limited (EFL) has also taken up the responsibility of increasing the literacy levels in Pakistan. Over the past seven years, a Government Boys School adopted by Engro Foods in Sahiwal, has had a substantial impact on the quality of education in that region.Besides the other improvements, EFL donated desktops and equipped this school with computers and newer technologies that are now easily accessible for the students.

Read the rest

JazzCash introduces its all new JazzCash App & online banking

JazzCash, one of the leading mobile financial services players in Pakistan, has introduced a completely revamped Mobile App and has introduced Online Banking for its customers as well. The Mobile App interface has been revamped based on global best practices for mobile banking, along with introducing new features aiming to provide a seamless user interface to the customers.

Read the rest

Gulzar Firoz becomes member board of directors, TDAP

Mr. Gulzar Firoz (T.I), former Chairman, Pakistan Tanners Association (PTA), former Vice President, Federation of Pakistan Chamber of Commerce & Industry (FPCCI) and former Chairman, Korangi Association of Trade & Industry (KATI) has been appointed as Member of Board of Directors Trade Development Authority of Pakistan (TDAP) from private sector in the Cabinet meeting held on 22nd May 2018 presided by the Honourable Prime Minister of Pakistan Shahid Khaqan Abbasi.

Read the rest

Finland diplomats visit KCCI

President Karachi Chamber of Commerce & Industry Muffasar Atta Malik presenting crest to Head of Region, Business Finland Middle East Jukka Hahlantera during his visit to Karachi Chamber. Honorary Consul General of Finland Sadia Khan and others are also seen in the picture.

Read the rest

PSO donates AMTF to fight Thalassemia in Pakistan

PSO is working to help fight deadly disease of thalassemia in Pakistan. In a recent effort, the company has joined hands with the Afzaal Memorial Thalassemia Foundation (AMTF) by donating Rs. one million on the World Thalassemia Day. MD & CEO PSO, Sheikh Imranul Haque, graced the occasion as the guest of honour to hand over the cheque of support to the AMTF management.

Read the rest