Commerce

PSO launches environment friendly RON 97 fuel

KARACHI (Sarzameen News) – Pakistan State Oil (PSO), in continuation of its quest to improve the quality of fuels in Pakistan, has upgraded its products portfolio with the inclusion of the RON 97 high octane petrol under brand name Altron X Hi- Octane 97. RON 97 delivers superior performance to vehicles for a smooth and

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China gives Pakistan $1.6 bln credit line to boost currency reserves: sources

ISLAMABAD (Sarzameen News) – China has given Pakistan a credit line worth $1.6 billion to stave off a balance of payments crisis, two Pakistani central bank sources said on Thursday, with cash earmarked for boosting fast-depleting foreign currency reserves. Two State Bank of Pakistan (SBP) sources told Reuters the credit facility that accompanies a currency

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SBP to issue fresh currency notes for Eid from June 1

LAHORE (APP) – RAWALPINDI: The State Bank of Pakistan (SBP) on Tuesday announced that it will issue fresh currency notes to general public from June 1 to exchange with old ones for Eid-ul-Fitr celebrations. The SBP in collaboration with Pakistan Banks Association (PBA) set up SMS short code 8877 for issuing fresh currency notes, which

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Turkmenistan says close to securing TAPI pipeline financing

Sarzameen News – Turkmenistan plans to secure within a few months all the necessary funding to complete the construction of an $8 billion natural gas pipeline to Afghanistan, Pakistan and India, the project’s chief executive said on Wednesday. The Central Asian nation is building the TAPI pipeline to diversify its gas exports, which have mostly

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Exchange companies to keep record of transactions worth $500 or more

KARACHI (Sarzameen News) – Taking stern action against money laundering in the country, the State Bank of Pakistan has directed money-exchange companies to keep a record of any transaction worth $500 or more. The companies have been directed to identify the people who engage in transactions of the dollar, and the SBP has also amended

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Textile exports surge 8.13 pc in 10 months

ISLAMABAD (APP) – The exports in textile and clothing group recorded an increase of 8.13 percent during first 10 months of current fiscal year (July-April) 2017-18 as compared to same period of last year. The textile group’s exports from the country jumped to 11.13 billion during July-April (2017-18) against the exports worth of $10.3 billion

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Infant industries to boost after implementation of agricultural reforms: experts

PESHAWAR (APP) – All the infant and small industries primarily depended on the agriculture sector will get enormous boost after implementation of the agricultural reforms and projects announced by the government in the budget 2018-19, which will largely benefit farmers and people. The growth of many small industries in Pakistan such as sugar, cotton, leather,

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Five new projects worth Rs480 mln being executed in petroleum sector

ISLAMABAD (APP) – Petroleum and Natural Resources Division has planned to execute five new projects worth Rs480 million to accelerate oil and gas exploration activites under the Public Sector Development Programme (PSDP) for the year 2018-19. Mainly, the projects focus on up-gradation of testing laboratories of Hydrocarbon Development Institute of Pakistan (HDIP) to ensure provision

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SBP injects Rs675 bn into market

KARACHI (APP) – State Bank of Pakistan on Monday injected Rs 675 billion into money market for four days as reverse purchase through its open market operation. The rate of return accepted is 6.01 percent per annum, said SBP release.

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Mi Pakistan offers up to 50% discount during Ramazan

(Web Desk) – Ramazan is not only the month of blessings but also acceptance of prayers. That’s right, Mi Pakistan is all set to make your fast a little more rewarding by bringing you amazing discounts, up to 50%. Why wait till the end, what if you’re out of money to spend? Why take a

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