10012016Sat
Last update: Sat, 01 Oct 2016 06am

Business & Economy

Pakistan - Business & Economy

ECNEC approves 6 mega development projects worth billion of rupee ISLAMABAD: The Executive Committee of National Economic Council (ECNEC) here on Friday approved six mega development projects in the country costing billions of rupees.The ECNEC met here under the chairmanship of Finance Minister Muhammad Ishaq Dar and approved the project of the Irrigation Department, Government of Balochistan for the construction of 100 small dams in different districts at the rationalized cost of Rs 7829.874 million.The project will complete in three years' time and will greatly benefit the province of Balochistan in harnessing the flood flows and in this way supply about 175,500 acre-feet of conserved flood water for direct irrigation and drinking purposes and will benefit about 58,500 acres of fertile cultivable land.The chair directed that Ministry of Planning for setting up a monitoring committee comprising members from the Ministry of Water and Power to make sure that the project would be completed in three years time.The committee also approved ...

Pakistan - Business & Economy

Nominal increase witnessed in weekly inflation ISLAMABAD: The weekly inflation for the week ended on September 29 for the combined income group witnessed nominal increase of 0.03 percent as compared to the previous week.The Sensitive Price Indicator (SPI) for the week under review in the above mentioned group was recorded at 218.82 points against 218.75 points registered in the previous week, according to data released by Pakistan Bureau of Statistics (PBS) here on Friday.As compared to the corresponding week of last ...

Pakistan - Business & Economy

Pakistan's petroleum products imports stand at 75pc ISLAMABAD: State Minister for Petroleum and Natural Resources Jam Kamal on Friday informed the Senate that 75 per cent petroleum products were imported while only 25 per cent requirement were fulfilled by domestic resources.Replying to various supplementary questions during Question Hour, the minister said around 75 per cent of diesel imports were arranged by Pakistan State Oil (PSO) under a long term contract with, Kuwait Petroleum Corporation (KPC).He said the KPC has shown their intention ...

Pakistan - Business & Economy

Readymade garment, net wear exports witnessed 4-15pc increase ISLAMABAD: Minister for Commerce Engineer Khuram Dastgir Khan Thursday informed the Senate that country's readymade garments and net-wear exports witnessed four and 15 per cent increse respectively despite international trade recession, during the last fiscal year 2015-16.Responding to a Calling Attention Notice raised by Mian Muhammad Ateeq about failure of the Commerce Ministry to increase exports, the minister said the government was taking effective steps to enhance country's exports.He clarified that the government was still ...

Pakistan - Business & Economy

Over $11bn worth cotton products exports registered in 2015-16 ISLAMABAD: Minister for Commerce Engineer Khurram Dastgir Khan said Thursday the country exported cotton products worth $11 billion during 2015-16.Replying to a question during question-hour in the Senate, he said cotton related products comprised raw cotton, cotton yarn, cotton cloth, cotton carded or combed, knitwear, bed wear, towels, tents, canvas and tarpaulin and readymade garments.He said it was a fact that export of cotton products had decreased during the last three years and the reasons ...

Pakistan - Business & Economy

Women entrepreneurs being encouraged for import, exports business ISLAMABAD: Minister for Commerce Engr. Khurram Dastgir Khan Thursday said the government had taken several steps to encourage women toward import exports business.During question-hour in the Senate he said as part of such efforts, 15 percent quota had been reserved for women entrepreneurs to participate in the international trade fairs, exhibitions and delegations, adding 50 percent subsidy on participation fee was also provided to women entrepreneurs.He said WEXNET was organized as the only exhibition for ...

Pakistan - Business & Economy

SECP organizes investor awareness seminar for ACCA members ISLAMABAD: The Securities and Exchange Commission of Pakistan (SECP) on Thursday organized an investor education and awareness seminar for ACCA members under its "Jamapunji campaign", here at its Head Office.The event was organized in collaboration with the Association of Certified Chartered Accountants (ACCA) Pakistan Islamabad office and a sizeable number of members enthusiastically participated in the event.In his opening comments Afrasiab Ahsan, Senior Business Development Manager highlighted the role of future accountants who needed to ...