05252016Wed
Last update: Wed, 25 May 2016 11pm

Business & Economy

Pakistan - Business & Economy

Motorcycle assemblers ask govt to cut taxes in FY 2016-17 budget ISLAMABAD: Motorcycle assemblers have demanded the government on Tuesday to relieve the industry of some taxes in the upcoming federal budget of Fiscal Year (FY) 2016-17.According to the body, 50 plants out of total 120 are closed and the remaining are not meeting their maximum production. Only 50 percent of the total production capacity is being utilized currently by production houses in the country.The industry is capable of producing around 4 million units per anum but sales are stagnated at 2 million.Industrialists while talking to private news channel said, that lesser production leads to increased manufacturing cost while government's production quota scheme has resulted in limited use of capability.The body has stated that employment opportunities would increase if the government considers recommendations of the industrialists and reduce taxes.Copyright APP (Associated Press of Pakistan), 2016 ...

Pakistan - Business & Economy

Pre-budget consultative session at LCCI LAHORE: Lahore Chamber of Commerce & Industry (LCCI) President Sheikh Muhammad Arshad said on Monday that economic growth lies in implementation of good economic governance, therefore government should review economic policies in the federal budget 2016-17 to overcome economic challenges in a shortest possible time. He was addressing a mammoth gathering of traders from various markets, led by Ashraf Bhatti, here at Lahore Chamber of Commerce & Industry. The LCCI Vice President Nasir Saeed, representatives ...

Pakistan - Business & Economy

FPCCI demands KP government to announce new agriculture policy PESHAWAR: Federation of Pakistan Chambers of Commerce and Industry Monday demanded of the Khyber Pakhtunkhwa government to formulate a new policy framework for the development of its agriculture sector. Chairman FPCCI Standing Committee Ahmad Jawad in a meeting with group of farmers said that small landholding is one of the major hurdles in achieving higher yield growth. Over 80pc of the landholdings are below five acres. "In China and South Korea, the average size of ...

Pakistan - Business & Economy

US$ 18.460 million earned from livestock export in three years: NA informed ISLAMABAD: Minister for Commerce Eng. Khurram Dastgir Monday said a total amount of US$ 18.460 million was earned from the export of livestock over the last three years.Speaking during question-hour in the National Assembly, the minister said promoting livestock falls under the purview of the provincial governments after the 18th Constitutional Amendment.As regards promotion of livestock exports, he added the Economic Coordination Committee (ECC) of the Cabinet on a summary moved by Ministry of National ...

Pakistan - Business & Economy

Local vehicles sales surges to 0.184mn ISLAMABAD: The local vehicle sales in the country have surged to 184,099 units during first 10 months of this year against 142,814 units in same period last year, registering a 29 per cent growth.The improved law and order situation, low interest rates, Punjab government's taxi scheme and other economic factors are behind this growth.Market statistics have showed on Monday that Indus Motors sold 52,987 units during the year - a 1.15 per cent Year on ...

Pakistan - Business & Economy

Shipping activity at Port Qasim KARACHI: Three ships C.V New Jersey, M.V Jewel at Dubai and M.T Karachi schedule to load/offload containers, rice and furnace oil were allotted berths at Qaim International Container Terminal, Multi Purpose Terminal and FOTCO Oil Terminal respectively on Sunday.Meanwhile six more ships with containers, soya bean seeds, diesel oil and palm oil also arrived at outer anchorage of Port Qasim during last 24 hours.Berth occupancy was managed at the port 60% on Sunday where a ...

Pakistan - Business & Economy

US Exim Bank willing to finance 3600 MW LNG based power plants ISLAMABAD: Finance Minister Senator Mohammad Ishaq Dar has expressed strong interest in providing financing for the three LNG-based power plants at Baloki, Bhikki and Haveli Bahadar Shah in Pakistan.The spokesman of the Ministry of Finance said here on Saturday that Vice President of United States (US) Exim Bank, Annette Maresh had indivated this in a letter addressed to Minister for Finance Muhammad Ishaq DarIt may be recalled that Finance Minister had started engagement with US ...