Promulgation of Protection of Economic Reforms (Amendment) Ordinance, 2018

According to state Bank of Pakistan, has released a copy of the Protection of Economic Reforms (Amendment) Ordinance, 2018in terms of which section 5 of the Protection of Economic Reforms Act, 1992 has been amended.

2. Accordingly, para 1(iv), Chapter 6 of Foreign Exchange Manual-2017 stands revised as under:

“Foreign currency accounts can be fed by remittances received from abroad, travellers cheques issued outside Pakistan (whether in the name of account holder or in the name of any other person) and foreign exchange generated by encashment of securities issued by the Government of Pakistan.

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PSO Fuel Farm facility at the new Islamabad International Airport inaugurated

Mr. Sardar Mehtab Ahmed Khan, Adviser to Prime Minister on Aviation Division, inaugurated Pakistan’s largest and most advanced Fuel Farm Facility at the New Islamabad International Airport (NIIAP) on Thursday April 12, 2018. The facility is jointly developed by Pakistan State Oil (PSO), the nation’s largest Oil Marketing Company with operations at 9 major airports and over 35 years of experience in fuelling the aviation industry, and Attock Petroleum Limited (APL), a progressive Oil Marketing Company, and a part of Pakistan’s only fully vertically integrated oil group (Attock Oil Group of Companies) with the collective experience of over 100 years in Oil & Gas Sector, experienced in developing state-of-the-art infrastructure for storage, handling and delivery of quality petroleum products.

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Expanding local CNY settlement and clearing mechanism in Pakistan

State Bank of Pakistan (SBP) has continuously been taking policy measures to ensure that imports, exports and financing transactions with China can be denominated in Chinese Yuan (CNY). SBP signed a Currency Swap Agreement with the People’s Bank of China with the objective of promoting bilateral trade and financing direct investment between the two countries in the respective local currencies.

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KATI welcomes award winning entrepreneurs

Korangi Association of Trade & Industry (KATI) welcomes students of the US born Pakistani award winning Student of Rutgers Business School. Vice President of KATI Junaid Naqi welcomed the delegation included Gia Farooqi, Hasan Usmani, Moneeb Mian and Hanaa Lakhani at KATI.

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USAID launches challenge fund to support Pakistani entrepreneurs and SMEs

American Ambassador David Hale joined the Minister of State for Information Technology and Telecommunication Anusha Rahman Ahmad Khan in Islamabad recently to launch the USAID-supported Challenge Fund. Implemented by USAID’s Small and Medium Enterprise Activity, the Challenge Fund will support the growth of small and medium-sized enterprises (SMEs) in the hospitality and Information Communications Technology (ICT) sectors. 

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USAID launches challenge fund to support Pakistani entrepreneurs and SMEs

American Ambassador David Hale joined the Minister of State for Information Technology and Telecommunication Anusha Rahman Ahmad Khan in Islamabad today to launch the USAID-supported Challenge Fund. Implemented by USAID’s Small and Medium Enterprise Activity, the Challenge Fund will support the growth of small and medium-sized enterprises (SMEs) in the hospitality and Information Communications Technology (ICT) sectors. 

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TPL Life Insurance launches TPL Life Muavin

Known as the easiest company to deal with, TPL Life Insurance Ltd has launched TPL Life Muavin, a state of the art Virtual Agent Induction Module. Touted as the doorway to financial wellbeing for anyone and everyone whether a young job seeker looking to establish a career in insurance sales or to finance higher education, a salaried professional, a startup, a businessman, looking for alternate means of development or a house wife looking for an alternate source of income for the household.

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Mian Zahid Hussain urges gov to enforce effective for the safety and security of mines’ workers

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 on Wednesday said Mohmand Agency is a hub minerals included marble, chromites, nephrite, dolomite, iron, soapstone, manganese, silica and sand, etc., while agricultural products include Chilies, wheat, and vegetables.

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Zubair Motiwala lauds govt’s efforts to ensure peace and economic prosperity between Pakistan and Afghanistan

Chairman Pakistan Afghanistan Joint Chamber of Commerce & Industry (PAJCCI), Zubair Motiwala acknowledged Honorable Shahid Khaqan Abbasi, Prime Minister of Pakistan for his efforts to ease strained relations between the two countries and revive a push for peace talks.

Motiwala established that at this time of deteriorating relationship and growing mistrust, the recent visit of the Prime Minister to Afghanistan can be termed as significantly instrumental for strengthening the historical ties between the two nations.

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FPCCI hails Gov. decision to delay China-Pakistan Free Trade Agreement (CPFTA-II)

Ghanzanfar Bilour, President and Syed Mazhar Ali Nasir, Sr. Vice President of the Federation of Pakistan Chambers of Commerce & Industry (FPCCI) has expressed their gratitude and thanks to Muhammad Pervaiz Malik, Federal Commerce & Textile Minister and Senator Haroon Akhtar Khan, Prime Minister’s Advisor on Revenue for recognizing the potential threat to the indigenous industries and taking timely action to defer the finalization of second phase of China-Pakistan Free Trade Agreement (CPFTA-II).

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Business Community hails allotment of Amenity Land to FPCCI at Gwadar

The Business Community of Pakistan and the members of the Federation of Pakistan Chambers of Commerce and Industry hailed the announcement made by Hussain Islam, Provincial Minister of Baluchistan on behalf of Chief Minister Baluchistan Mir Abdul Quddus Bizenjo for allocation of amenity land of one acre free of cost to FPCCI for establishment of its liaison office at Gwadar.

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Overseas Pakistanis remit US $14.6 billion in the first nine months of FY18

Overseas Pakistani workers remitted US $14606.41million in the first nine months (July to March) of FY18, showing a growth of 3.56 % compared with US $14105.03 million received during the same period in the preceding year.

During March2018, the inflow of worker’s remittances amounted to US $1772.77million, which is 22.24% higher thanFebruary2018 and 4.62%higher than March2017.

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