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Business & Economy


Cut in policy rate must to speed up trade activity LAHORE: Lahore Chamber of Commerce and Industry (LCCI) on Wednesday said that at least 300 basis point cut in policy rate is direly needed to jumpstart the trade and economic activities in the country, since the existing 9.50 policy rate is not compatible with the inflation rate. LCCI President Ijaz A. Mumtaz said here that existing 3.96 percent inflation rate was the lowest rate since October 2003 but in the last monetary policy, State Bank of Pakistan announced only 0.5 percent cut in the policy rate that had never done any service to the economy and the industry. Citing an overview, the LCCI President said that in China policy rate was 5.60 percent, India 8 percent, Bangladesh 7.25 percent, Sri Lanka 6.50 percent, Singapore 0.12 percent and Thailand 2 percent. Ijaz A. Mumtaz said that high policy rate was one of the biggest reasons of high input cost of the ...

SECP action against non-compliant market participants ISLAMABAD: In order to ensure an efficient securities market the Securities Market Division of the SECP took enforcement actions against several market participants for non-compliance with regulatory framework during the last quarter (October-December),here on Wednesday.Pursuant to the on-site inspections of the brokerage houses of the Karachi Stock Exchange Limited (KSE), enforcement actions were initiated against a number of brokers, according to a statement by SECP.Penalties were imposed on Global Securities Pakistan Limited, Invest and Finance ...
Companies registration witnessed 12pc growth in first half of FY 2014-15 ISLAMABAD: The Securities and Exchange Commission of Pakistan (SECP) has registered 469 companies in December 2014. The new incorporation includes two foreign companies and 41 local companies with foreign investment.A statement issued by the Commission here Wednesday said that the SECP witnessed 12 percent increase in company's registration during the first half of current fiscal year.Duly July -December 2014, 2,192 new incorporation were made as against 1,950 companies registered during the same period last year. ...
Production capacity of PSM to be taken up to 77pc by April 2015: CEO KARACHI: The supply chain of raw material has been streamlined with the help of the recent financial restructuring package and 40 percent production capacity has been attained which will gradually be taken up to 77 percent by April, 2015.This was said by Chief Executive Officer, Pakistan Steel, Major General (R), Zaheer Ahmed Khan in a meeting with the dealers of PSM at Operations Building, PSM Bin Qasim here, said a statement on Tuesday.During the meeting ...
Car, Jeep production up by 14.9pc, motorcycles by 1.35pc in four months ISLAMABAD: The production of jeeps and cars increased by 14.9 percent during the first four months of the current fiscal year compared to the output of the corresponding period of last year.As many as 42,296 jeeps and cars were manufactured during July-October (2014-15), compared to the production of 37,073 in July-October (2013-14), according to the data of Pakistan Bureau of Statistics (PBS).On year-on-year basis, the production of jeeps and cars increased by 22 percent in ...
PTEA for immediate approval of new textile policy FAISALABAD: The Pakistan Textile Exporters Association (PTEA) has demanded immediate approval of new textile policy which carries the measures to increase country's textile exports to US$ 26 billion by the year 2019.In a statement here on Tuesday, Sohail Pasha, Chairman and Rizwan Riaz, Vice Chairman of the Association said that inordinate delay in the announcement of new textile policy was depriving textile sector of its due benefits, besides causing serious apprehensions and uncertainty in the ...
Pakistan high growth to boost UAE business ties ISLAMABAD: Pakistan's high growth and economic expansion will boost its business relations with the UAE and globally during fiscal-2015. The higher growth rate and business expansion forecast have been made this week by the International Monetary Fund, the World Bank, Asian Development Bank and several other foreign analysts.The business and economic relations with foreign countries, particularly with UAE, have a great potential as the latest economic forecast by the IMF indicated. It said, Pakistan's GDP ...


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ICT 2014

Foreign Debt $61.805bn
Per Cap Income $1,386
GDP Growth 4.14%
Average CPI 8.6%
Trade Balance $-1.664 bln
Exports $1.966 bln
Imports $3.630 bln
WeeklyJanuary 22, 2015
Reserves $10.331 bln