Author: Bushra -

To accelerate the investments in education and healthcare services in the Khyber Pakhtunkhwa (KP) province of Pakistan, the World Bank’s Board of Executive Directors decided to approve $400 million financing from “International Development Association” (IDA). “The SPEED program supports a comprehensive and robust approach to public financial management in Khyber Pakhtunkhwa that tackles key bottlenecks in planning, budgeting, procurement, and supply chain management so that adequate resources are available to deliver education and health services on a sustainable basis,” said Najy Benhassine, World Bank Country Director for Pakistan. “It also underscores the provincial government’s commitment to increase transparency in public finances, service delivery,…

Pakistan’s  Palm oil imports increased by 34.83 percent during the first three quarters of the current fiscal year July-March (2020-21) , against the imports of the same period of last year. Palm oil Imports  during July-March (2020-21) vs July-March (2019-20): The imports during July-March (2020-21) were recorded at $1860.935 million against the imports of $1380.245 million during July-March (2019-20), showing an increase of 34.86 percent, according to the latest data from the Pakistan Bureau of Statistics (PBS). In terms of quantity, Pakistan had imported 2,443,293 metric tons of palm oil during the period under review as compared to the imports…

On January 2019, $2 billion loan has been given to Pakistan by the Abu Dhabi Fund for Development (ADFD).Recently UAE has been decided to roll over the repayment of this loan given to Pakistan. The aim for the extension of this loan is to boost liquidity and help overcome financial crisis faced by the South Asian country. The news was announced on Tuesday following a meeting between Sheikh Abdullah bin Zayed Al Nahyan, Minister of Foreign Affairs and International Cooperation, and Shah Mahmood Qureshi, Pakistan’s Minister of Foreign Affairs. A total of $3 billion  was deposited by the UAE with…

Dubai: UAE Trade Connect (UTC), a  blockchain-based trade finance platform ,to counter the risk of double financing and fraud across the United Arab Emirates. This programme is made with the intent of stamping out fraud and financial crime risks such as duplicate- or under- invoicing. The aim of UAE Trade Connect is to cut down under-invoicing initially and then take on money laundering. The ‘UAE Trade Connect’ brings together telecom giant Etisalat and a consortium of seven leading local banks, led by FAB (First Abu Dhabi Bank). UTC allows banks to send invoice information into a private permissioned blockchain network…

The Securities and Exchange Commission of Pakistan (SECP) has issued a new procedure for the approval of capital expenditure and disposal of assets by the board of companies. The SECP has issued an S.R.O.449(I)/2021 here on Friday to issue draft amendments to the Companies (General Provisions and Forms) Regulations, 2018. Two cases discussed for the approval of capital expenditure and disposal of assets: For the Public interest company and large sized company, the amount of capital expenditure to be incurred on any single item shall be more than 25 million. The amount of book value for the disposal of a fixed…

Pakistan will have to pay $2.2 million as commitment charges on this year 2021, on a $400 million loan from the Asian Development Bank (ADB) which was extended to Pakistan in 2015, a national daily reported. The ADB loan which was provided for the installation of Advanced Metering Infrastructure (AMI) in LESCO and IESCO aims to reduce electricity theft, the news report added. However, the project is not installed in DISCOs and the charges which have to be paid are now increased up to $2.2 million. The sitting government is planning to either cancel the project under the ADB loan…

Today’s USD to PKR (Dollar Rate in Pakistan today 2021) exchange rate given below. All Currency prices are updated every hour to offer you the best US Dollar to Pakistani Rupee conversion. Dollar to PKR conversion depends on open market rates which are set by the currency exchange dealers of Pakistan. Check today’s Dollar into PKR exchange rate in Pakistan. Dollar rate in Pakistan today  2021 USD to PKR: Find out the updated Dollar rate today in the exchange rate in the open market. (Updated, 17th April 2021) USD to PKR (buying rate): 152.15 USD to PKR (selling rate): 153.34…

The Economic Coordination Committee (ECC) of the cabinet on Wednesday withdrew customs duty on import of cotton yarns . ECC has withdrawn customs duty on import of cotton yarns to facilitate the Value-Added exporters. This will be notified with the approval of the cabinet. The withdrawal of customs duty has been approved to ensure smooth supply of cotton and cotton yarn. The Value-Added manufacturers and exporters can import cotton yarns at 0% customs duty said Razak Dawood Adviser to Prime Minister for Commerce and Investment. “Only the half is done,” said Jawed Bilwani, chairperson of Pakistan Apparel Forum that also…

KARACHI: Pakistan’s foreign exchange reserves continue to receive handsome inflows that have raised their level to over $23.2 billion. These inflows have strengthened the Rupee position against US Dollar and beneficial to the economy for the repayment of loans. In 2020, the SBP successfully made foreign debt repayment of over $1 billion on the maturity of Sukuk. The central bank attributed the rise to the receipt of proceeds of $2.5 billion against the issuance of Eurobonds. Saad Hashemy, executive director at BMA Capital, said this is an extremely positive development and credit goes to the government for the issuance of…

Karachi: Dollar Rate in  Pakistan on 15th April is PKR 152.83 in the Pakistani Currency Exchange rate market. All currency prices are updated daily here to offer the best conversion rates(US dollar to Pakistani Rupee) Dollar Rate In Pakistan Today 2021 Below are the latest buying and selling rates on 15th April 2021: USD to PKR(buying rate)  152.10 PKR USD to PKR(Selling rate)  152.83 PKR https://twitter.com/StateBank_Pak/status/1382624411119943686?s=20 The Dollar to Pakistani Rupee conversion price is based on the open market rates which is set by the currency exchange dealers of Pakistan.