08262016Fri
Last update: Fri, 26 Aug 2016 10pm

Business & Economy

Pakistan - Business & Economy

Govt should take steps to stop fall in rice exports ISLAMABAD: President Pakistan Businessmen and Intellectuals Forum (PBIF) Mian Zahid Hussain Monday expressed concern over falling rice exports terming it damaging for the economy.He said that government should take steps to stop the fall in rice exports as soon as possible otherwise it would have bad impacts on the economy of the state, said a press release here.Rice exports have witnessed a fall of 8.60 percent during financial year of 2016 by fetching 2.035 billion dollars which should be a matter of concern for the stakeholders, he added.Mian Zahid Hussain expressed worries over the future of the country's rice exports as some major markets have been lost while some others are under threat.Pakistan has missed annual rice export targets for five years necessitating government intervention before it is too late as 3,861,406 metric tonnes of rice was exported in 2016 as compare to the corresponding period in which 4,262,216 metric ...

Pakistan - Business & Economy

'Rs 100bn funding starts benefiting farmers' MULTAN: MPA Mehdi Abbas Langah said on Friday that Rs 100 billion funding being pumped into the agriculture sector development in Punjab had started benefitting farmers.He said this at a ceremony at Markaz Hafiz Wala after distribution of soil sampling and pest scouting kits under 'Extension Service 2.0: Farmer Facilitation Through Modernized Extension" here.EDO Agriculture Shafqat Hussain Bhatti, DO Agriculture Extension Chaudhry Naseer Ahmad, DDO Agriculture Rana Arif and other officials besides a large number ...

Pakistan - Business & Economy

Country's industry projected to grow at 7.7pc ISLAMABAD: The Industrial sector of the country is expected to grow at 7.7 percent during the ongoing fiscal year 2016-17 compared to the growth of over 6.4 per cent during the fiscal year 2015-16."In view of its higher growth rate during the current fiscal year (against last year's growth rate), the industrial sector is expected to grow by 7.7 per cent during 2016-17 on the back of better energy supply and planned investment under the ...

Pakistan - Business & Economy

Berths allocated at Port Qasim to ship loaded with seeds, palm oil, chemical KARACHI: Four ships C.V Priority, M.V Sea Pegasus, M.T Ginga Saker and M.Tomson Gas carrying containers, seeds, palm oil and chemicals were allotted berths at Qasim International Container Terminal, grain, fertilizer Terminal, Liquid Cargo Terminal and Engro Vopak Terminal respectively on Thursday.Meanwhile five more ships C.V San Felipe, M.V CMB Adrien, M.T Methane Lydon Volney, M.T Bunga Lavender, M.T Atlantic Glory with containers, rice, LNG and chemical also arrived at outer anchorage of Port Qasim ...

Pakistan - Business & Economy

Car production falls by 3.87pc in July ISLAMABAD: Car production in the country fell by to 12,491 units in July, 2016 against the production of 12,994 units during same month of previous year showing a decrease of 3.87 per cent.According to latest data released by Pakistan Automotive Manufacturing Association (PAMA), Honda Cars (Civic and City) production in the country increased from 1840 units in July, 2015 to 1955 units in July, 2016.The details show that the production of Suzuki Swift also increased ...

Pakistan - Business & Economy

SECP approves amendments to regulations for licensing, operation of central depository ISLAMABAD: Securities and Exchange Commission of Pakistan (SECP) in consultation with the CDC and other participants, has proposed amendments to the Central Depositories (Licensing and Operations) Regulations, 2016.A statement issued by the Commission here Thursday said the regulation was proposed in order to promote good corporate governance and enhance public confidence.The proposed amendments have been notified in the official gazette and also made available on the official website of SECP so as to obtain public ...

Pakistan - Business & Economy

Services trade deficit shrinks 18.54pc in 2015-16 ISLAMABAD: The services trade deficit in the country reduced by 18.54 per cent during the year 2015-16 against the preceding year, as exports of the services decreased by 7.14 per cent while the imports witnessed a decline of 10.96 per cent.The services trade deficit fell to $2.413 billion during the period July-June (2015-16) from $2.962 billion recorded in the fiscal year 2014-15.According to data revealed by Pakistan Bureau of Statistics (PBS) here on Thursday, the ...