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Special Economic Zones Bill 2012 approval by parliament hailed KARACHI: Special Economic Zones Bill 2012 approval by parliament is manifestation of government’s strategy to attract investment in industrial sector and project Pakistan as safe, profitable, ideal place to set up industries. Board of Investment BOI Chairman Salim Mandviwala's efforts will ensure incentive-laden package for foreign, domestic investors to set up industries in designated zones with all required infrastructure, facilities, said Majyd Aziz, former President Karachi Chamber of Commerce & Industry. Aziz, who is also founder of Pakistan Japan Business Forum, said SEZ original concept was floated by PJBF with idea to set up economic zone for Japanese investors since there was substantial interest shown by them. It goes to credit of government that this landmark initiative has been approved. He said SEZ promoters in various cities should endeavor to set up captive power plants, preferably coal-based, water desalination plants, impregnable security system, social infrastructure so that foreign investors can invest and work ...

British department store Debenhams expands into Pakistan KARACHI: British department store Debenhams has opened its first store in Pakistan as part of its international business expansion plan. The store in Karachi uses same branding as UK and sells same merchandise has opened in a franchise partnership with Team A Ventures, a local company that represents other British stores in the country including Mothercare, Next, Monsoon and Accessorize. Lucy Haine, senior business manager at Debenhams International, said: "There’s highly affluent middle class growing in ...
FPCCI invites applications for 36 export awards ISLAMABAD: Federation of Pakistan Chamber of Commerce and Industry (FPCCI) has invited the applications from leading exporters, service providers and corporate social sectors for 36 FPCCI Export Awards. According to a statement issued here on Monday the ceremony of export award is likely to be held in the month of October this year aiming to encourage the business community in the country. FPCCI's export awards are considered prestigious at home and abroad and the recipients of awards ...
Fertilizer output set at 4.1 million tons  ISLAMABAD: As much as 4.174 million tons of fertilizers is projected to be produced during the current financial year (2012-13) to further enhance per acre crop out-put and achieve the set crop production targets in the country. During the current financial year government has set to produce 3.4 million tons of Nitrogen (N) as against the last year production of 3.1 million tons to fulfill the domestic requirements of the input, said an official here Monday. About ...
Cotton ginners allowed to pay tax to FBR directly  RECORDER REPORT MULTAN: Federal Board of Revenue (FBR) has allowed the Cotton ginners to pay tax directly to the FBR against the sale of cotton to local textile mills and others so that they could claim their refunds as per rule, said Noor-ul-Ameen Hotiana, Chief Commissioner of Regional Tax office, Multan while addressing the ginners at a dinner hosted in his honour here the other day. He said that it was their top priority to facilitate the ...
Honest tax officials: Claimants of bogus refunds begin smear campaign  RECORDER REPORT ISLAMABAD: Claimants of bogus/fraudulent refunds worth Rs157 million and some officers of Inland Revenue in Karachi have launched a smear campaign against some senior and well-reputed/honest tax officials of the Directorate General of Intelligence and Investigation Karachi, creating a negative impression against anti-corruption investigators of the Federal Board of Revenue (FBR). Sources told Business Recorder here on Sunday that some officials of the regional directorate of intelligence IR Karachi recently detected a large number of ...
European markets: France to help Pakistan enhance exports  RECORDER REPORT ISLAMABAD: Ambassador of France to Pakistan Philippe Thiebaud has conveyed to the Pakistani business community that Paris is willing to cooperate with Islamabad to enhance its exports to the European markets. According to an announcement of the Federation of Pakistan Chamber of Commerce & Industry (FPCCI) here on Sunday, Ambassador of France to Pakistan stated that France is striving for a Generalised System of Preferences (GSP) plus status for Pakistani products. “Moreover, we are helping ...

 



 
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Banking Review 2014


Annual2013/14
Foreign Debt $61.805bn
Per Cap Income $1,386
GDP Growth 4.14%
Average CPI 8.6%
MonthlyMarch
Trade Balance $-1.586 bln
Exports $1.932 bln
Imports $3.518 bln
WeeklyApril 16, 2015
Reserves $16.818 bln