01192017Thu
Last update: Thu, 19 Jan 2017 10pm

Business & Economy

Pakistan - Business & Economy

GDP on upward trajectory: Dar ISLAMABAD: Finance Minister Senator Mohammad Ishaq Dar said on Monday the country's Gross Domestic Product (GDP) appeared to be on upward trajectory. Chairing a meeting here to review the economic performance in six months ended December 31, 2016, he said inflation was steady below 4% in December while average inflation during July-December was recorded at 3.88%, reflecting continued price stability.The minister noted that the performance of Federal Bureau of Revenue was at around 7% during last sux months which reflected catching up of the shortfall experienced in the initial months, largely on account of giving relief to consumers on petroleum prices together with sales tax refunds of Rs 45 billion.On the expenditure side, the performance was on track as expenditure was allowed in a prudent manner in accordance with budget, and keeping in view the revenue growth, he added.The minister, while expressing satisfaction on recent economic performance, noted that economic ...

Pakistan - Business & Economy

Shipping activity at Port Qasim KARACHI: Two ships C.V Newark and M.V Amoy Action carrying containers and 37,000 tonnes coal were allotted berths at Qasim International Container Terminal and Multi Purpose Terminal Berth No.1 respectively on Sunday.Meanwhile four more ships Al-Bahia, MSC Silvana, El-Kadel and Bochem Chennani with containers, diesel oil and palm oil also arrived at outer anchorage of Port Qasim during last 24 hours.Sixty percent berth occupancy was managed at the port on Sunday where a total of ...

Pakistan - Business & Economy

Rice worth US$557.578mn exported in five months ISLAMABAD: Rice export from the country during first five months of current financial year was recorded at 1,316.44 million tons as compared to exports of the corresponding period of last year.According the data of Pakistan Bureau of Statistics country earned US$ 557.578 million by exporting rice during the period from July-November, 2016.The rice exports in first five months of last financial year was recorded at 1,545.578 million tons valuing US$ 688.322 million tons, it added.During ...

Pakistan - Business & Economy

OGDCL, MOL produced Rs99.538bn oil, gas from KP ISLAMABAD: Oil and Gas Development Company (OGDCL) and MOL Pakistan have produced Rs 99.538 billion crude oil and natural gas from its different operational fields of Khyber Pakhtunkhwa during the last 17 years.The two leading companies have extracted over 89,998,250 bbl crude oil and 87,217,244 mcf natural gas during the period, official sources told APP.OGDCL tapped around 59,692,454 bbl (barrel) crude oil and 86,482,196 mcf (million cubic feet) natural gas amounting to Rs 520.538 billion.The ...

Pakistan - Business & Economy

Pakistan inflation eases to 3.70pc in December ISLAMABAD: Pakistan's annual inflation rate eased to 3.70 percent in December from 3.81 percent in November, the Bureau of Statistics said on Monday. On a month-on-month basis, prices decreased by 0.68 percent in December compared with November, the bureau said.Average inflation for the July-December period stood at 3.88 percent, compared with the same period last year.The steepest rise in year-on-year prices was seen in the prices of gram flour, pulse gram and besan. The steepest ...

Pakistan - Business & Economy

Pakistan, France need to upgrade bilateral trade, investment ISLAMABAD: With a stable economy, improved security situation and liberal investment regime, Pakistan offered many attractive investment opportunities for French businessmen and companies.This was stated by Ambassador of Pakistan to France Moin ul Haque during his visit to the city of Toulouse, a major commercial and industrial hub and capital of the enlarged Occitanie region, located in South West of France, according to a message received here from Paris on Friday.During his meeting with the ...

Pakistan - Business & Economy

Rs895.264bn earmarked to facilitate less developed areas ISLAMABAD: Present government during its regime (2013-14 to 2016-17) has allocated a total amount of Rs 895.264 billion to bring less developed areas at par with rest of the country.The less developed areas are identified by provincial governments by using economic data of district in question and state of basic infrastructure and quality of life of the area. This function is performed by the provincial government.Giving year-wise details about allocation of funds, sources at Planning ...