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ICCI for strong anti-smuggling measures to boost local industry ISLAMABAD: Islamabad Chamber of Commerce and Industry (ICCI) on Tuesday called upon the authorities to take strong anti-smuggling measures as rising phenomenon of smuggling was undermining the local industry and causing harmful consequences for the national economy.President Islamabad Chamber of Commerce and industry (ICCI) Muzzamil Hussain Sabri said that national exchequer was reportedly losing around Rs.120 to 150 billion annually due to smuggling of many items.He stressed upon the government to pay urgent attention to this serious issue as it was hurting the local industry, discouraging investment and legal imports and causing sufficient revenue loss collected from taxes, duties and levies at the import stage, according to statement issued.He said a World Bank study has estimated revenue loss of US$ 35 billion to our economy during the nine years period from 2001 to 2009 due to smuggling of Afghan transit trade alone.He said there was huge smuggling of consumer items ...

Envoy invites Osaka businessmen to explore Pak sports goods market ISLAMABAD: Pakistan's ambassador to Japan, Farukh Amil met the senior officials of Mizuno Corporation on Monday in Osaka and invited them to visit Sialkot for exploring potential of sports goods market for cooperation between the two countries.During his meeting with representative director of Mizuno Corporation Masaharu Kato and the top executives of the company, he apprise them of the potential of sports goods production in Pakistan.He invited them to visit Sialkot in particular where they ...
Govt to enact new Geographical Indication Law for indigenous Pakistani products: Khurram ISLAMABAD: Minister for Commerce, Engr. Khurram Dastgir Khan said Thursday that the Ministry would enact a new Geographical Indication Law to bring distinction to indigenous Pakistani products."Geographical Indication law and the registration of products at domestic and international level will give international recognition to the Pakistani products which have some unique attributes associated with them", he said in a statement issued by the Ministry of Commerce here.The Minister said that Geographical Indications are place names ...
FPCCI pleads for formation of Rice Development Board ISLAMABAD: Federation of Pakistan Chambers of Commerce and Industry (FPCCI) Thursday called for formation of Rice Development Board (RDB), aimed at development of the sector and boost its exports for the benefit of the country.According to an FPCCI statement, Abdul Rahim Janoo, its Sr. Vice President, had written a letter to Engr. Khurram Dastgir Khan, Federal Commerce Minister and Sikander Hayat Khan Bosan, Federal Minister for Food Security & Research in this regard.He urged them ...
Positive steps ensure 2.9pc growth in agri sector this year ISLAMABAD: The overall performance of agriculture sector has recorded a growth of 2.9 percent during 2014-15 as compared to 2.7 percent last year due to positive steps in all related agriculture sub-sectors.During the period, crops witnessed a growth of 1.0 percent, livestock 4.1 percent, forestry 3.2 percent and fishing 5.8 percent.The agriculture's crop sub-sector component which includes important crops, other crops and cotton ginning showed growth of 0.3 percent, 1.1 percent and 7.4 percent respectively.A ...
Prices of daily used items reviewed CHAKDARA: A high-level committee of the district administration here Thursday reviewed prices of daily use items and directed the assistant commissioners to regularly visit the bazaars and markets to ensure edible items to consumers during Ramzan on reasonable rates.The meeting was attended besides others by Acting Deputy Commissioner, all assistant commissioners, presidents of bazaar unions, owners of all backers associations and butchers associations office bearers besides officials of the district administration.The meeting reviewed prices of ...
Govt sets to produce 3,873mn tonnes of meat during 2015-16 ISLAMABAD: The government has set a target to produce 3,873 thousand tones of meat during the fiscal year 2015-16 to fulfill the domestic requirements of the meat as well as to export.According to an official in the Ministry of National Food Security and Research about 3,696 thousand tons of meat was produced during the fiscal year 2014-15.Meanwhile, 2,017 thousand tons of beef would be produced during the period under review as compared to the production ...


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Banking Review 2014

Foreign Debt $62.649bn
Per Cap Income $1,512
GDP Growth 4.24%
Average CPI 8.6%
Trade Balance $-2.378 bln
Exports $2.016 bln
Imports $4.394 bln
WeeklyAugust 27, 2015
Reserves $18.509 bln