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Business & Economy

Pakistan - Business & Economy

Edible oil import reduces by 6.92pc, 39.38pc in five months ISLAMABAD: Import of edible oil into the country including soyabean and palm oil during first five months of current financial year reduced by 33 percent and 6.93 percent respectively as compared to the imports of corresponding period of last year.Soyabean oil import into the country during the period from July-November, 2016 reduced by 33 percent as compared to the same period of last year, said the data of Pakistan Bureau of Statistics.During first five months of current financial year, soyabean oil import into the country was recorded at 58,780 metric tons valuing US$ 57,303 million as compared to import of 62,215 metric tons valuing of US$ 85.528 million of same period of last financial year.Meanwhile, palm oil import into the country decreased by 6.92 percent and recorded at 972,028 metric tons as against the import of 1,140,836 metric tons of same period of last year, it added.Palm oil import into ...

Pakistan - Business & Economy

SECP places conditions on AMCs SOHAIL SARFRAZISLAMABAD: The Securities and Exchange Commission of Pakistan (SECP) has placed certain conditions on asset management companies (AMCs) for charging of selling and marketing expenses to collective investment schemes managed by them. According to an SECP circular issued here on Wednesday, the commission, exercising the powers conferred under section 282B(3) of the Companies Ordinance 1984 read with Regulation 60 (3) (v) of the Non-Banking Finance Companies and Notified Entities Regulations, 2008, hereby prescribe the ...

Pakistan - Business & Economy

NA body agrees on reconstruction plan for revival of PSM ISLAMABAD: The National Assembly standing committee on industries and production on Wednesday agreed on reconstruction plan for the revival of Pakistan Steel Mill (PSM) proposed by Privatization Commission.The Committee meeting was held under the chairmanship of Asad Umer in Parliament House here.While Chairman Privatization Commission Muhammad Zubair informed the committee that government ensured transparency in Pakistan Steel Mill during different induction at high post in the organization.Zubair said that the government is fully committed to ...

Pakistan - Business & Economy

Tea import reduces 7.55pc in five months ISLAMABAD: Tea import into the country reduced by 7.55 percent during first five months of current financial year as compared to imports of corresponding period of last financial year.According to data of Pakistan Bureau of Statistics, about 89,123 metric tons of tea imported during the period from July-November, 2016-17 as compared to import of 73,383 metric tons of same period of last year.During the period under review, country spent U$ 208.597 million on import of ...

Pakistan - Business & Economy

Mobile phone import falls 14.2pc in Jul-Nov ISLAMABAD: The import of mobile phones fell by 14.2 percent during first five months (July-November) of current financial year as compared to same period of last year. According to latest data released by Pakistan Bureau of Statistics (PBS), the mobile phone import fell from US $307.748 million in July-November 2015-16 to $264.059 million in same period of current financial year.On monthly and yearly basis, the mobile phone import in November 2016, however, increased by 27.55 ...

Pakistan - Business & Economy

Shipping activity at Port Qasim KARACHI: Four ships C.V Maersk Detroit, M.T Bochem Chennani, M.T Atlantic Glory and M.T Umm Bab carrying Containers, palm oil, chemicals and LNG were allotted berths at Qasim International Container Terminal, Liquid Cargo Terminal, Engro Vopak Terminal and Engro Elengy Terminal respectively on Tuesday.Meanwhile two more ships Maersk Stepnica and Happy Penguin with Containers and Chemicals also arrived at outer anchorage of Port Qasim during last 24 hours.Sixty percent berth occupancy was reported at the ...

Pakistan - Business & Economy

Pakistan, Malaysia negotiating reduction in tariff line duties ISLAMABAD: Pakistan and Malaysia are negotiating to further reduce duties on existing and additional tariff lines under Free Trade Agreement (FTA) to facilitate businesses of both countries.According to official sources, both the countries inked the Comprehensive Free Trade Agreement (FTA) for Closer Economic Partnership back in 2007.This Agreement was Pakistan's first comprehensive FTA incorporating trade in goods, trade in services, investment and Economic Co-operation and Malaysia's first bilateral FTA with any south Asian country.According to ...