ISLAMABAD: Adviser to Prime Minister Imran Khan on Commerce Abdul Razak Dawood has said that Pakistan?s exports to Africa have increased by 10% even in this crunch time of coronavirus outbreak, ARY News reported on Friday. ?Alhumdulillah! Even in these testing times Pakistan’s exports to Africa have increased by 10% from July 2019 to 21st April 2020, as compared to the same period last year?, Razak Dawood said in a tweet.
ISLAMABAD: The Economic Coordination Committee (ECC) on Wednesday approved various supplementary grants, including Rs7.84 billion for the purchase of different types of personal protection equipment (PPEs) to fight the spread of coronavirus in the country, ARY News reported. The ECC meeting, chaired by Adviser to Prime Minister on Finance and Revenue Dr Hafeez Shaikh, approved technical supplementary grants for NDMA, Pakistan Atomic Energy Commission and Pakistan Rangers.
Reuters LONDON: Oil prices extended their slump Wednesday, with WTI hitting the lowest level since 2002 as planned output cuts were deemed insufficient to offset a coronavirus-fuelled slump in demand. The benchmark WTI contract tumbled to $19.20 per barrel, the lowest level in 18 years. Shortly after, around 0920 GMT, WTI was down 2.3%
Pfizer said on Friday it is in talks to shift more of its medicine production to outside contractors as it prepares for large-scale production of an experimental vaccine to prevent COVID-19, should it prove safe and effective. The U.S. drugmaker is tapping its network of around 200 outside contractors, which includes Catalent, Lonza Group, and Thermo Fisher Scientific, to play a bigger role in producing some of its existing medicines, Mike McDermott, president of global supply at Pfizer, told Reuters in an interview.
Asian equities enjoyed some much-needed gains Friday after another volatile week on global markets as investors took solace in a blockbuster series of government and central bank measures aimed at cushioning the economic blow from the coronavirus. The dollar also eased somewhat after a lengthy rally fuelled by traders cashing out of their investments, while the embattled oil market extended Thursday?s gains.
ISLAMABAD: In a major development, the Federal Board of Revenue (FBR) has exempted duty and taxes on import o Remdesivir drug used for critically ill patients of COVID-19, ARY News reported. According to details, the FBR issued SRO 557(I)/2020 to exempt income tax on import of finished drug Remdesivir 100mg injection and injectable solution 100 mg vital.
ISLAMABAD: In a step to provide relief to the masses, the federal government has decided to present a tax-free budget for the fiscal year 2020-21, ARY News reported. Sources privy to the matter said that the government will not introduce any new tax in the forthcoming budget while harsh measures will be taken to curb tax evasion.
The WTO says the outlook for the global economy over the next two years remained "highly uncertain". ? AFP/Files GENEVA: Global trade is expected to drop around 18.5% year-on-year in the second quarter of this year in a huge coronavirus-driven plunge which nonetheless could have been much worse, the World Trade Organization said Tuesday.
Stockbrokers react as they watch the latest share prices during a trading session at the Pakistan Stock Exchange (PSX) in Karachi on March 16, 2020.-AFP Trading at the Pakistan Stock Exchange (PSX) was halted again on Thursday when the benchmark KSE-100 index plunged 1,719 points after the start of the morning session.
ISLAMABAD: Minister for Industries Hammad Azhar presented the much-anticipated budget for the fiscal year 2020-2021 in National Assembly. The minister explained in detail, his government?s economic goals and why a certain allocation was made to a particular sector while presenting the budget with a total outlay of Rs7.13 trillion. The major allocations are Rs25.5