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ICCI urges promotion of high tech engineering goods’ exports ISLAMABAD: Islamabad Chamber of Commerce and Industry (ICCI) emphasized on promotion of exports of high tech engineering goods as they could strengthen and widen national export base. Yasir Sakhi Butt, President ICCI in a statement issued here Wednesday said that measures need to be taken immediately on war footing to support and save our engineering industry from total collapse. Therefore government should continue tariff rationalization to provide level playing field to local engineering industry and to extend attractive export financing scheme and long-term financing facility to encourage additional investment, he added. He was analyzing the export performance of the engineering industry during the last four years shows that the annual export of engineering goods were in the range of average $ 200 million. ICCI President said that Pakistani engineering products are sold at a very low price and the buyers earn huge profits after some value addition. Thus, it is the right time to ...

Punjab fails to achieve paddy sowing target  M RAFIQUE GORAYA LAHORE: Punjab has failed to achieve FY2012-13 paddy cultivation target by about one million acres due to 43 percent below normal rains, markedly reduced river inflows in June/July, high cost of diesel oil and 18-20 hours daily electricity load shedding in rural areas. Director General, Agriculture Extension Services, Punjab Dr Anjum Ali told Business Recorder that the farmers could plant paddy nursery over an area or 3.2 million acres against the target of 4.33 ...
Position of FBR Member IR divided into two new slots  RECORDER REPORT ISLAMABAD: The Federal Board of Revenue has divided the position of the FBR Member Inland Revenue (IR) into two new slots – FBR Member North and FBR Member South - under reforms with new assignment to FBR Member North Syed Ijaz Hussain (Inland Revenue Service/BS-21) while Shahid Hussain Asad has been transferred as Member (Training-IR), FBR. The FBR has issued notifications to this effect here on Tuesday. Under the new organizational structure of the FBR, the ...
Rs104bn outstanding bills, losses hinder power system ISLAMABAD: The government is to recover outstanding electricity charges worth Rs 82 billion besides line losses valuing Rs 22 billion and both the factors hinder improvements in the country's power distribution and generation system, said Chief Energy Management Cell Tahir Basharat Cheema on Tuesday. Briefing the Senate Assembly Standing Committee on Water and Power, he said that the power distribution companies were yet to recover Rs 181 billion from the private consumers, criticizing performance of the ...
ICCI urges Government to save cement industry ISLAMABAD: Local cement industry is in dire need of Government attention as Growth of cement industry is considered a major indicator of economic activity.Yassar Sakhi Butt, President Islamabad Chamber of Commerce and Industry (ICCI) expressed deep concern over decline of 1.64 percent in exports of cement compared with the dispatches achieved in last year July 2011. He said that major factors responsible for a downturn in the industry include exorbitant increase in cost of fuel, high ...
Farmers advised to complete Corn sowing by August 15 RAWALPINDI: The Punjab Agriculture Department has advised the farmers to ensure sowing of Corn seed with appropriate ploughing by August 15 for getting better results. The Punjab Seed Corporation is providing services to supply quality seeds to farmers, adding that hybrid seeds are equally suitable for both the Kharif and Rabi seasons, a spokesman of the department said in a press release issued here. The seeds have the capacity to produce 90 to 100 and 100 to ...
Gov ISLAMABAD: The government has made strategic shift in its strategies to assist infrastructural development of Small and Medium Enterprises (SMEs) in order to enhance productivety and exports of this particular sector to help reduce poverty in the country. Currently, the Small and Medium Enterprises Development Authority (SMEDA), is implementing 28 projects under Public Sector Development Programme with a total estimated cost of Rs.2.8 billion in major SME clusters, official sources said. The impact of these projects on ...


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Banking Review 2014

Foreign Debt $61.805bn
Per Cap Income $1,386
GDP Growth 4.14%
Average CPI 8.6%
Trade Balance $-1.586 bln
Exports $1.932 bln
Imports $3.518 bln
WeeklyApril 16, 2015
Reserves $16.818 bln