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Business and Economy: Pakistan


President Mamnoon Hussain on Tuesday said Pakistan seeks to enhance bilateral trade co-operation in defence, counter terrorism, renewable energy, IT and automotive industry with Germany. Talking to outgoing Ambassador of Germany Dr Cyrill Nunn who called on him here at the Aiwan-e-Sadr, the President said Pakistan was an investor-friendly country and German investors can take advantage of its liberal investment policies.

Minister for Commerce Engr Khurram Dastgir Khan, who is on a two-day official visit to South Korea, had back to back meetings with Chairmen and Presidents of Korean trade organisations and Korean conglomerates including Executive Vice Chairman of the Korea Chamber of Commerce and Industry (KCCI), Chairman of Korea Importers Association (KOIMA), Director of Asia-Pacific, Africa and Middle East Group and Director of Overseas Policy Coordination team of Hyundai Motor Group, CEO of ECOONE, Chairman of Lotte Group, Chairman and CEO of Korean Air and Chairman and President of Korea Trade Insurance Corporation (K-sure).
National Assembly''s Standing Committee on Kashmir Affairs and Gilgit Baltistan has decided to take up the issue of raising a special 1500-strong force for providing security to the environs of mega projects including Diamar Bhasha Dam. A meeting of the committee was convened to take a briefing from Ministry of Kashmir Affairs as well as senior officials of Azad Kashmir and Gilgit Balthistan on law and order situation in their respective regions and security arrangements especially around ongoing mega development projects.
Sindh government through a notification has authorised Deputy Commissioners to monitor and review schemes initiated under annual development plan in their respective areas of jurisdiction. As per notification, the DCs would be termed as Supervising and Monitoring Officers of Development Schemes in the relevant districts.
Agro Food Processing (AFP) facilities, established by the Small and Medium Enterprises Development Authority (SMEDA) at a cost of Rs 207.73million in Multan has so far processed 14,580 tons of fruit besides extracting 8,730 tons of pulp from mango, apple, guava, tomato and peach. SMEDA Chief Executive Officer Muhammad Alamgir Chaudhry told Business Recorder that Punjab Small Industries Corporation was the project partner that contributed an amount of Rs 81.19million for land and civil works.
President Pakistan Businessmen and Intellectuals Forum (PBIF) Mian Zahid Hussain on Tuesday called for adopting smart meter technology to combat theft of electricity, gas and water. It can help contain theft, wastage, reduce load shedding, cut operational costs and ensure profit for the loss-making utilities which will also clip circular debt, he said.
"Pakistan must weigh up risks and benefits of opening trade with India," said speakers in their speeches in a seminar on "the pros and cons of trade relations with India", jointly organised by the Institute for Policy Reforms and the Lahore Chamber of Commerce and Industry at the chamber on Tuesday.
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Banking Review 2014

Foreign Debt $61.805bn
Per Cap Income $1,386
GDP Growth 4.14%
Average CPI 8.6%
Trade Balance $-1.894 bln
Exports $1.953 bln
Imports $3.847 bln
WeeklyJuly 06, 2015
Reserves $18.201 bln