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NEW DELHI: Pakistan and India are channelling their efforts into increasing trade in the hope that business can bring them together. 31-year old Karachi food trader Kashif Gul Memom is among those eager to seize the opportunities offered by easier links between the estranged neighbours. "This is a change for the good. It's an exciting time," said Memom. "My generation of business people is putting the past behind us. We're looking to the future, India is such a huge market for us," Memom told AFP while at the largest ever Pakistani trade fair held in India. The improved relations between two countries stem from Pakistan's decision to grant India "Most Favoured Nation (MFN)" status by year end, meaning Indian exports will be treated the same as those from other nations. In further progress, the neighbours opened a second trading gate in April along their heavily militarised border, boosting the number of trucks able to cross ...

TAHIR AMIN ISLAMABAD: Pakistan has missed early cotton sowing by 7 percent during the current season as compared to the same period of preceding year, which may hamper the commodity production in the upcoming year, informed sources revealed. Sources in the Ministry of Textile Industry told Business Recorder that due to low prices of cotton, water and certified seed shortage, a significant decline in cotton production has been forecast for the upcoming year. Sources revealed that the Cotton ...
KARACHI: Sindh is a resource rich province of Pakistan with every potential to become economic and power hub, Chief Minister of Sindh, Syed Qaim Ali Shah was quoted to have said during a press conference arranged at the residence of Counsel General of UAE. According to a press release issued on Tuesday a high powered official delegation headed by Syed Qaim Ali Shah is attending the second annual investment conference scheduled being opened in Dubai on ...
ISLAMABAD: Focus on regionalism and economic interdependence is the only way to ensure sustained peace and prosperity in this volatile region, a business leader said here Tuesday. "Different constraints including cost and culture has left globalisation incompatible for many countries while regionalism is growing globally," said Tariq Mehmood, President Attock Chamber of Commerce and Industry (ACCI). Speaking to business community here at FPCCI Capital Office, Tariq Mehmood said that the rise of Asia will be difficult unless ...
ISLAMABAD: Federal Finance Minister Dr Abdul Hafeez Sheikh stressed need to increase revenue collection momentum to achieve Rs 1,952 billion current target of fiscal year 2011-12. Chairing meeting Tuesday of Tax Reforms Coordination Group TRCG, he lauded efforts of Federal Board of Revenue (FBR) where provisional collection up to April 2012 was about Rs 1,424 billion and still counting against last fiscal year's collection for same period at Rs 1,150 billion. Sheikh hoped assigned budget targets would ...
LAHORE: Indian investors have shown willingness to invest $ 20 to 50 billion in Pakistan in mining, petroleum, energy, power and infrastructure projects. Talking to the media here Tuesday, the Chairman Pak-India Business Council (PIBC) Noor Muhammad Kasuri said that upon his arrival from India after a fortnight visit and having meetings with members of Indian business community. Kasuri said that there are several big investors groups in India and they were interested to explore opportunities in ...
Wheat procurement in Rawalpindi division to be started from May 5 RAWALPINDI: Wheat procurement in Rawalpindi Division will be started from May 5 while the supply of the gunny bags (bardana) to the farmers has been started said Commissioner Rawalpindi Division Amdad Ullah Bosal. He said that 12 centers have been set up in four districts of Rawalpindi division (Rawalpindi, Jhelum, Chakwal and Attock) for the procurement of 5000 metric tones wheat which would be purchased from the farmers. He said that food department Rawalpindi would procure wheat ...


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Foreign Debt $60.9bn
Per Cap Income $1,368
GDP Growth 3.6%
Average CPI 7.5%
Trade Balance $-1.433 bln
Exports $2.167 bln
Imports $3.600 bln
WeeklyApril 14, 2014
Reserves $9.713 bln