02092016Tue
Last update: Tue, 09 Feb 2016 04pm

Business & Economy

Pakistan - Business & Economy

CPI based inflation up by 3.3pc in January ISLAMABAD: The Consumer Price Index (CPI) based inflation rate during last month (January) witnessed an increase of 3.3 percent as compared to same month of last year.On month-on-month basis the CPI inflation however decreased by 0.2 percent in January as compared to the previous month, according to data released by Pakistan Bureau of Statistics (PBS).Meanwhile, the Sensitive Price Index (SPI) inflation on year on year basis increased by 3.1 percent in January, 2016 as compared to increase of 2.9 percent a month earlier while on month-on-month basis, the SPI decreased by 0.7 percent in the month under review as compared to an decrease of 0.7 percent month earlier.Similarly the Wholesale Price Index (WPI) inflation on Year-on-Year basis increased by 0.1 percent in January, 2016 as compared to decrease of 0.4 percent a month earlier and a decrease of 2.4 percent in January, 2015.On month-on-month basis WPI decreased by 0.5 percent ...

Pakistan - Business & Economy

FBR collects Rs 209bn to surpass Rs 205bn target for Jan ISLAMABAD: During January, 2016, according to the provisional figures received so far, Federal Board of Revenue (FBR) has made a net collection of around Rs. 209 billion as against Rs. 171 billion collected during January, 2015 showing an increase of 22%.The target for the month was fixed at Rs. 205 billion which has also been achieved, said a statement issued by FBR here Monday.The figure is expected to rise further. The net collection for the ...

Pakistan - Business & Economy

Leather industry delegation on visit to India KARACHI: A 15 member delegation of Pakistan Tanners Association (PTA) led by its Chairman Gulzar Firoz, on Monday left for India on study tour.It will also attend International Leather Fair to be held from February 1 to 3 at Chennai, India, and to participate the 19th International Footwear Congress scheduled between Feb 3 to 5, said a PTA statement here.Representatives of twenty countries are expected to participate in this event.The study tour is sponsored/supported by ...

Pakistan - Business & Economy

KP businessmen, people laud Federal Govt for reducing petroleum prices PESHAWAR: The business community, politicians and people of Khyber Pakhtunkhwa here Monday lauded Federal Government for reducing petroleum products and termed it a positive decision, which would give direct relief to common man besides promoting industrialization in the country.Former President Khyber Pakhtunkhwa Chamber of Commerce and Industry (KPCCI), Fawad Ishaq told APP that reduction of petroleum products was a wise and positive decision of the Federal Government that would not only reduce transportation cost but ...

Pakistan - Business & Economy

Kinnow growers association meets SARGODHA: The meeting of Kinnow Growers Association (KGA) was held here with Abid Mumtaz Warraich in the chair to review problems being faced by Kinnow growers.The meeting was attended by director Citrus Research Institute Altaf-ul-Rehman, Malik Abdul Rehman, Dr Basharat Hussain, Syed Munir Sherazi, Ahmed Khan Ranjha and various other association members.The participants of the meeting showed severe reservations over low rates of kinnow in the market although the production was very much low due ...

Pakistan - Business & Economy

SECP directs AMCs to comply with Additional Regulatory Requirements ISLAMABAD: The Securities and Exchange Commission of Pakistan (SECP) has directed all asset management companies (AMCs) to comply with additional regulatory requirements for money market funds and income funds in line with the policy recommendations of International Organization of Securities Commissions (IOSCO) and international best practices.The SECP believes these regulatory reforms which encompass the key principles of liquidity and credit risk will ensure protection of unit holders' interests and enhance the safety and soundness of ...

Pakistan - Business & Economy

FBR realizes Rs 180bn during July-December 2015-16 ISLAMABAD: The Senate Standing Committee on Finance, Revenues and Economic Affairs was informed on Thursday that Federal Board of Revenue (FBR) had collected Rs 180 billion during first half (July-December) of current fiscal year. An amount of Rs 135.3 billion was collected during same period of last year thus showing a growth of 32.6 percent.The FBR Chairman, Nisar Muhammad attributed the increase in the revenues to elimination of various Statuary Regulatory Orders (SROs), besides bringing ...