05292016Sun
Last update: Sun, 29 May 2016 03am

Business & Economy

Pakistan - Business & Economy

Business Community pins high hopes on CPEC MULTAN: The All Pakistan Oil Mills Association (APOMA) have termed the China Pakistan Economic Corridor as a game-changer project, saying that it would not only benefit Pakistan but the also bring about economic prosperity in the region.Talking to APP, President APOMA, Khawaja Muhammad Fazil said that China-Pak Economic Corridor (CPEC) project completion would not only bring prosperity in the country but also usher in a new era of progress in the South Asian region.Khawaja Fazil maintained that it was one of the biggest projects in the country's history, focusing on public welfare and prosperity of the country.However, he was concerned that anti-state elements were hatching conspiracies against the project and there was need to foil these nefarious designs to materialize the project well in time.In this regard, masses, army and politicians will have to play their effective role for timely completion of CPEC, Fazil added.The president APOMA further observed that ...

Pakistan - Business & Economy

Business confidence improved across Pakistan ISLAMABAD: Patron Islamabad Chamber of Small Traders, Shahid Rasheed Butt has expressed confidence over growth and sustainability of economy due to interest of the Finance Minister Ishaq Dar and his team."The economic managers are burning midnight oil to make a pro-growth budget as we had enough of austerity measures which has subdued growth", he said in a statement issued here.Talking to a group of journalists led by President PFUJ Afzal Butt and Shakeel Anjum President ...

Pakistan - Business & Economy

Govt provided Rs4,246.21mn subsidy under Ramazan package in three years ISLAMABAD: Minister for Industries and Production Ghulam Murtaza Khan Jatoi said Friday the Utility Stores Corporation (USC) was operating 5455 stores throughout the country, providing daily use commodities to masses at affordable level.Answering a question in the Senate the minister said in Punjab there 2993 stores in Sindh 671 3, Khyber Pakhtunkhwa 1312 4, Balochistan 294, AJK 80 and in Gilgit Baltistan 105 retail outlets.He said out of 5455 stores, 4472 stores were regular stores ...

Pakistan - Business & Economy

NA body for imposing 100pc duty on import of milk ISLAMABAD: National Assembly Standing Committee on Commerce on has recommended to impose 100 percent duty on import of milk to utilize the local milk.The meeting of the Standing Committee was held here under the Chairmanship of Siraj Muhammad Khan, MNA.Chairman Committee expressed his reservation on the quality of imported milk and mixing of rust ingredient in milk, which is forbidden to drink in our religion.During meeting officials from the ministry of Commerce briefed the committee ...

Pakistan - Business & Economy

71.31pc wheat procurement target achieved FAISALABAD: Food Department on Friday claimed to achieve 71.31 percent wheat procurement target in Faisalabad division.A spokesman of the department said that 4226763 gunny bags have so far been distributed among wheat growers of the division including districts Faisalabad, Jhang, Toba Tek Singh and Chiniot, thus they had achieved 83.46 percent target of gunny bags distribution.Similarly, he said the food department has so far procured 3594272 bags of wheat from the growers which is equal ...

Pakistan - Business & Economy

Taxes on agriculture sector need to be reduced: Minister ISLAMABAD: Minister for National Food Security Sikandar Hayat Bosan Wednesday underlined the need for taking concrete measures to reduce taxes on agriculture sector.He was speaking in the Senate regarding on adjournment motion moved by Muhammad Azam Khan Swati to discuss the ineffective mechanism and lack of oversight by the government to protect the interest of millions of wheat growers due to which they forced to sell their wheat crop on less than support price fixed ...

Pakistan - Business & Economy

Low Cotton production costs Rs 80 billion loss: Senate told  ISLAMABAD: Federal Minister for Trade and Textile Industry Khurram Dastagir on Thursday apprised Senate that estimated production of cotton was 10.78 million bales during 2015-16. Replying to a calling attention notice, he said that the country would face loss of Rs 80 billion with shortage of 3.97 million bales as compared to 13.97 million bales last year.The minister said changing weather pattern with high temperature and rains at wrong timing was a major cause of ...