02142016Sun
Last update: Sun, 14 Feb 2016 12am

Business & Economy

Pakistan - Business & Economy

Government should create better business environment in the country ISLAMABAD: A delegation of Islamabad Chamber of Commerce and Industry (ICCI) led by its President, Zafar Bakhtawari visited Attock Chamber of Commerce and Industry (ACCI). Munawar Mughal, Mian Akhram Farid, Khalid Javaid and Zubair Ahmed Malik, former presidents of ICCI also accompanied the delegation.   Addressing at luncheon meeting, Zafar Bakhtawari, President ICCI said that unity of the nation in general and business and industrial community in particular is vital for socio-economic development of the country.   He said that close collaboration among all the chambers of commerce and industry would a give boost to economic activities.   ICCI President said that the economy of Pakistan was facing multiple challenges including energy crisis, hefty decline in investment, deindustrialization, low tax revenue, law & order problems and outflow of capital.   He stressed that government should address these problems on priority for creating better business environment in the country.   Bakhtari also informed the meeting that Zubair Ahmed Malik, former president ...

Pakistan - Business & Economy

Pakistan becomes wheat-surplus and exporting country ISLAMABAD: Owing to bumper crops during last four years, Pakistan has become a wheat surplus and exporting country, as the traders have exported the wheat during recent months.   “During the current year, the public sector wheat stocks were 9.30 million ton including current procurement of 5.79 million ton and last year carry-over stocks of 3.51 million ton.   The public sector on the average annually releases 6.5 million ton to flour mills and other agencies/areas. Maintaining the Strategic ...

Pakistan - Business & Economy

Traders ready to join hands with FBR to unearth new taxpayers  LAHORE: All Pakistan Anjuman-e-Tajiran (APAT) representatives of over 5 million wholesalers and retailers in the country, is ready to join hands with Federal Board of Revenue (FBR) to enhance tax net by playing its role to unearth new taxpayers.   APAT General Secretary Naeem Mir said here Sunday that tax department should also consult the real stakeholders before formulating national tax policy.   "The EBR, apart from developing coordination with provincial tax authorities, also needs to improve liaison with ...

Pakistan - Business & Economy

Government allows export of 200,000 tons of sugar  ISLAMABAD: In pursuance of the Economic Coordination Committee of the Cabinet (ECC) decision, the government has allowed export of 200,000 tons of sugar in addition to left-over quota of already approved export after fulfilling four conditions.   A statement of the Ministry of Commerce issued here on Friday said that the conditions would be that 200,000 tons of sugar will be exported in addition to left-over quota of already approved export,the export shall be made against "E" ...

Pakistan - Business & Economy

ADB discusses water & power projects with WAPDA LAHORE: A seven-member delegation of the Asian Development Bank (ADB) Board of Directors, headed by the Executive Director Maurin Sitorus, called on the Pakistan Water & Power Development Authority's Chairman Raghib Shah here at WAPDA House on Sunday.   Both sides discussed matters relating to the projects being implemented by WAPDA in water and hydropower sectors. The ADB Country Director Werner E. Liepach and WAPDA Member (Power) Muhammad Qasim Khan were also present.   Giving a run down of ...

Pakistan - Business & Economy

PSM to be made profitable in 12 months: CEO  RECORDER REPORT KARACHI: Chief Executive Officer of Pakistan Steel Mills Major General Muhammad Jawed (Retd) pledged that the Mills will be revived and made profitable within the next 12 to 18 months as per approved the business plan and its expansion will also be made soon.   He was addressing a function held at the office of Pakistan Steel Mills People’s Worker’s Union (CBA) office at the CBA secretariat PS for the announcement of the Charter of Demand ...

Pakistan - Business & Economy

Decision to export 0.2mn tonnes of sugar hailed  RECORDER REPORT MULTAN: Muhammad Khan Saddozai, President of Multan Chamber of Commerce and Industry (MCCI) has hailed the decision of the Economic Coordination Committee of the Cabinet (ECC) to allow the export of 200,000 tonnes of sugar in addition to leftover quota of already approved export after fulfilling four conditions. In a press statement issued here on Saturday Muhammad Khan Saddozai said that this decision would be helpful in stabilising the sugar prices in the country ...