02102016Wed
Last update: Wed, 10 Feb 2016 01pm

Business and Economy: Pakistan

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The German ambassador has claimed that the China-Pakistan Economic Corridor will make Pakistan an attractive business destination for the world. Diplomat Ina Lepel talking to Lahore Chamber of Commerce senior Vice President Almas Hyder and Vice President Nasir Saeed on Tuesday said visits by several German delegations to Pakistan were ample proof that Germany considered trade and economic ties as important.
Pakistan Industrial and Traders Association Front Chairman, Irfan Iqbal Sheikh has demanded that the government to opt for partial privatisation of the Pakistan International Airline by ensuring transparency. While talking to Business Recorder on Tuesday, Irfan Iqbal Sheikh said, 'The PIA, Pakistan Steel Mills and the Pakistan Railways have become white elephant for the national economy as these are consuming huge money of taxpayers.
The Ministry of Interior Tuesday issued directives to security companies operating in the federal capital to provide their complete details within one week, otherwise their permission to operate in the city would be cancelled. A senior official of the Interior Ministry said that decision to this affect was taken in a meeting presided over by Interior Minister Chaudhry Nisar Ali Khan.
A report issued by the Institute for Policy Reforms gives recommendations for early revival of the economy. The report lays down a workable path towards economic growth and sustainable stabilisation. Chairman IPR and former Commerce Minister Humayun Akhtar Khan is the author of the report.
Pakistan Businessmen and Intellectuals Forum (PBIF) President Mian Zahid Hussain has urged the government to patronise the overseas employment promoters, who are helping the country earn valuable foreign exchange. He said that expatriates were sending around $19 billion to Pakistan, which was a great service to the nation; therefore, the government should devise a strategy to safeguard their interests.
The Karachi Port handled 58,157 tonnes of cargo comprising 35,250 tonnes of import cargo and 22,907 tonnes of export cargo including 3,364 loaded and empty containers during the last 24 hours ending at 0700 hours on Tuesday. The total import cargo of 35,250 tonnes comprised of 10,440 tonnes of containerised cargo; 2,544 tonnes of general cargo; 11,792 tonnes of bulk cargo: 367 tonnes of steel scrap; 2,425 tonnes of soda ash; 9,000 tonnes of rock phosphate and 10,474 tonnes of oil/liquid cargo.
Karachi Shipping Intelligence report incorporating changes till 7 am on Tuesday (February 09, 2016).