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Last update: Mon, 08 Feb 2016 07pm

Business & Economy

Pakistan - Business & Economy

Privatization imperative to put country on road to progress: FCCI President FAISALABAD: Faisalabad Chamber of Commerce and Industry (FCCI) President Ch. Muhammad Nawaz on Tuesday said that privatization was imperative to put Pakistan on the road to progress and prosperity and those opposing this process were inadvertently eroding its economic strength. He said that the business community was fully supportive of the immediate privatization of all public sector entities which had become unbearable burden on the national resources. He said the PIA was once the best and most vibrant international airline of the world but now it had become permanently sick and the poor people of Pakistan were bearing its losses for the last many decades. He said there was no chance for the recovery of this organization and hence the only solution was its privatization. He said that the economic experts also believed that privatization was the only available panacea for all the economic ills and private sector had to ...

Pakistan - Business & Economy

Medical, surgical goods exports increase 7.27pc in December ISLAMABAD: Exports of medical goods and surgical instruments grew by 7.27 percent during the month of December, 2015 as compared to the same month of last financial year.During last month surgical goods and medical instruments worth US$ 31.92 million were exported as compared to the exports of US$ 29.780 million of same month of last financial year, said data of Pakistan Bureau of Statistics.Meanwhile, during the period from July-December, 2015, medical goods and surgical instruments ...

Pakistan - Business & Economy

Pakistan State Oil tenders to buy 5 LNG cargoes MILAN: Pakistan State Oil on Saturday launched a tender to buy five liquefied natural gas (LNG) cargoes for delivery in March through April, according to a notice posted on its website.The delivery windows for the cargoes are March 18-20 and 28-30, as well as April 4-6, 19-21 and 27-29, the document stated.Bids must be submitted by February 23. Copyright Reuters, 2016 ...

Pakistan - Business & Economy

Mobile phone imports reach US$375.063mn in six months ISLAMABAD: Mobile phone imports in Pakistan have reached US $ 375.063 million during first half (July-December) of current fiscal year, showing 7.9 percent increase as compared to same period of previous year.Total imports of mobile phone stood at US $ 347.564 million in same period last year.According to Pakistan Bureau of Statistics (PBS), overall telecom imports saw significant decline of 7.43 percent during July- December 2015-16 compared to the same period in last year and ...

Pakistan - Business & Economy

Stable political, economic scenario favorable for Foreign investors ISLAMABAD: Minister for Commerce Khurrum Dastagir has assured comfortable and conducive political and economic scenario for foreign investors and businessmen in the country.While talking in Davos with a private news channel Monday, Minister said that the world leaders hoped to see a new and better Pakistan till the next World Economic Forum (WEF) meeting as a result of present government's sheer efforts to bring political and economic stability.The 46th WEF summit was attended by over ...

Pakistan - Business & Economy

Shipping activity at Port Qasim KARACHI: Two ships carrying Containers and Chemical were berthed at Qasim International Container Terminals and Engro Vopak Terminal, respectively.Meanwhile, three more ships carrying Edible Oil, G Cargo and Furnace Oil also arrived at outer anchorage of Port Qasim during last 24 hours.Berth occupancy was 55% at the port on Monday where a total six ships namely Cap Madrid, MSC Albary, Rising, Golden Helwa, Gashem Antartic and Alpine Light are currently occupying berths to load/offload Containers, ...

Pakistan - Business & Economy

Medical, surgical goods worth US$ 178.152mn exported in six months ISLAMABAD: Surgical goods and medical instruments worth of US$ 178.152 million were exported from the country during first half of current financial year as compared to the exports of the corresponding period of last year.During the period from July-December, 2015, medical goods and surgical instruments witnessed 4.38 percent increase in their exports as compared to the same period of last financial year.According the data of Pakistan Bureau of Statistics, the exports of above mentioned goods ...