08282016Sun
Last update: Sun, 28 Aug 2016 07am

Business & Economy

Pakistan - Business & Economy

SECP approves principles of corporate governance for non-listed companies ISLAMABAD: The Securities and Exchange Commission of Pakistan (SECP) has approved Principles of Corporate governance for Non-listed Companies (NLCs) to make business environment trustworthy, Transparent and accountable.The principles would change the governance paradigm for NLCs by enabling the corporate sector to adopt the best international practices, said a statement issued here on Tuesday.They are voluntary guidelines that would set out the corporate governance landscape for over 60,000 NLCs operating in Pakistan by providing a governance tool kit to improve their internal and external governance structures of these NLCs.The principles are aimed at achieving excellence in corporate governance by promoting enabling framework for NLCs to make them more ethical and sustainable.The implementation of principles for NLCs is part of the landmark project of the SECP for corporate sector development and growth in order to meet its policy objectives as vibrant corporate sector regulator.International Finance Corporation (IFC), a pioneer in implementation of ...

Pakistan - Business & Economy

CPEC's early harvest projects to complete by 2017-18 ISLAMABAD: The early harvest projects under China-Pakistan Economic Corridor (CPEC) are moving forward swiftly and first batch of projects including energy and infrastructure will be completed by 2017-18.With the completion of the energy projects in early harvest projects, 10,000 MW would be added in national grid by 2018, official sources in the ministry of planning, development and reforms said.In total, around 17,045 megawatts of energy would be generated through early harvest prioritized as well as ...

Pakistan - Business & Economy

Preparations in final phase to launch Shale gas, oil pilot project ISLAMABAD: The state-owned companies OGDCL and PPL are giving final touches to their joint strategy for a pilot project to drill Shale gas and oil wells in different parts of the country, espcially Balochistan."Preparations are in the final phase. The project draft will be submitted to the Ministry of Petroleum and Natural Resources for the approval," official sources told APP Monday.Initially, they said the companies would start exploration activities in selected areas of Balochistan, Sindh ...

Pakistan - Business & Economy

Balochistan businessmen asked to engage in CPEC to ensure benefits ISLAMABAD: The businessmen from Balochistan especially Quetta Chamber of Commerce must be engaged in China- Pakistan Economic Corridor (CPEC) Project in order to ensure maximum benefits for people of Balochistan, Secretary Ministry of Industries and Production, Khizar Hayat Gondal said.While, chairing a recently held high level meeting regarding CPEC, he asked the participants to give their opinion about how Industries can benefit from upcoming CPEC Project and the issues confronting the industry affecting reallocation of ...

Pakistan - Business & Economy

Pakistan emerges strong on investment radar ISLAMABAD: Foreign direct investment (FDI) private inflows into Pakistan are rising rapidly, as Chinese share goes up and the UAE looks increasingly prominent.UAE and other investors also have an eye open on the big market as the upcoming Pakistani production and export base will feed in the overall context of China Pakistan Economic Corridor, reported Khaleej Times on Friday.These are some of the lines on which FDI into Pakistan is rising, and going into very ...

Pakistan - Business & Economy

KCCI for resolving property valuation issue on priority basis KARACHI: President of the Karachi Chamber of Commerce and Industry (KCCI), Younus Muhammad Bashir, has called for resolving the property valuation issue on priority basis.In a statement on Friday, he opined that the property evaluation tables by the Federal Bureau of Revenue (FBR) should be withdrawn.The system of collectors value for registration be accepted for Capital Gain Tax (CGT).The KCCI president further commented that there should not be two rates to carry out evaluation of ...

Pakistan - Business & Economy

Weekly inflation increases by 0.21pc ISLAMABAD: The weekly inflation for the week ended on August 18 for the combined income group witnessed an increase of 0.21 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 218.97 points against 218.52 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 ...