07282016Thu
Last update: Thu, 28 Jul 2016 11am

Business & Economy

Pakistan - Business & Economy

CDA dualizing service road of E-12/2 with Rs 72mn ISLAMABAD: Capital Development Authority (CDA) has started construction work on dualized service road North and service road West of Sector E-12/2.This project would cost Rs.72 million and would be completed in five (05) months time.Under this project, not only both dulaized service roads would be constructed but one box culvert and drainage system along the roads would be also developed. Each service road would be one kilometer long.Chairman CDA, Maroof Afzal has said that provision of quality residential facilities in the Federal Capital is prime responsibility of the Authority.He said that present CDA management has not only started development ventures in the sectors which remained stalled for years but due to continuous efforts and dedication, development work in many of these sectors have been completed and possession is being given to the allottees.Maroof Afzal said that sector E-12 remain stalled for the many years, however, in order to cope growing ...

Pakistan - Business & Economy

Effective mechanism being pursued to monitor quality of items at Utility stores: Senate told ISLAMABAD: Minister for Industries and Production Ghulam Murtaza Khan Jatoi said Friday effective measures were being pursued to monitor quality of items being sold at Utility Stores: As part of such efforts, the minister says in a written reply to the Senate the quality of the commodities was checked at the time of bids and tenders. He said the samples provided by the vendors are thoroughly checked by the Tender Committee and the samples of ...

Pakistan - Business & Economy

Petroleum products witness nominal decline in production ISLAMABAD: The petroleum production has witnessed nominal decline of 0.05 percent during the eleven months of the fiscal year 2015-16, compared to the corresponding period of last year.The petroleum products that witnessed negative growth in production during July-May (2015-16) included kerosene oil, production of which decreased by 16.58 percent, according to data of Pakistan Bureau of Statistics (PBS).Similarly, the production of High Speed Diesel decreased by 1.47 percent, diesel oil by 38.03 percent, furnace oil ...

Pakistan - Business & Economy

Pak-Iran trade meeting concludes QUETTA: The fourth meeting of Joint Border Trade Committee of Pakistan and Iran concluded, here on Wednesday which reached consensus that the volume of Pak-Iran trade would be increased from US $ 1 billion to US $ 5 billion. Later, addressing a joint press conference, the head of Iranian delegation, Nadir Mir Shikari, Collector Custom Quetta, Dr. Saeed Jadoon and other officials said that it was decided in the meeting the trade size between the ...

Pakistan - Business & Economy

Govt advised to save $2.5bn through intervention in edible oil sector ISLAMABAD: The Islamabad Chamber of Small Traders (ICST) advised the government to promote edible oil sector through intervention which will help Pakistan save 2.5 billion dollars annually.Government has announced incentives for the agriculture sector in the budget but the edible oil sector has been ignored, said Shahid Rasheed Butt, Patron Chamber ICST.He said that government's intervention can result in self-sufficiency in edible oil production can help country save 2.5 billion dollars while providing jobs to ...

Pakistan - Business & Economy

New system developed to deduct sales tax automatically ISLAMABAD: Controller General of Accounts (CGA) with the assistance of Federal Board of Revenue (FBR) has developed a software which is now being used for automated verification of Sales Tax Registration Number (STRN) and deduction of applicable rates of sales tax from the vendors' claims submitted at accounting offices.The system has been implemented across all accounting offices from July 01, 2016, said a statement here on Wednesday.The successful implementation of the project will ensure correct ...

Pakistan - Business & Economy

LCCI welcomes SECP steps to facilitate company formation LAHORE: Lahore Chamber of Commerce & Industry (LCCI) Tuesday welcomed the revolutionary steps taken by Securities & Exchange Commission of Pakistan (SECP) to facilitate company formation and said that these initiatives would give boost to the trade and economic activities in the country. The LCCI President Sheikh Muhammad Arshad, Senior Vice President Almas Hyder and Vice President Nasir Saeed said here that SECP's move to ease the process of company registration would reduce the difficulties ...