07272016Wed
Last update: Wed, 27 Jul 2016 04pm

Business & Economy

Pakistan - Business & Economy

Zero-rating facility for five export sectors welcomed LAHORE: Pakistan Readymade Garments Manufacturers & Exporters Association (PRGMEA) on Monday hailed the Federal Board of Revenue for notifying zero-rating facility for five major export-oriented sectors including value-added textile sector.Talking to the media here, PRGMEA Chief Coordinator Ijaz Khokhar said that they welcomed the government's initiative of zero-rated sales tax regime to facilitate export-oriented industry, as this step would go a long way in promoting country's exports and put economy back on rails and boost the trust of local and foreign businessmen. Khokhar said that zero-rated sales tax regime for value-added textile sector would certainly bring down the industrial cost of doing business and Pakistani products would be able to get their due share in the international market.This initiative of the government, he added, would encourage the business people to supplement the government endeavours aimed at economic revival of the country. He hoped that zero-rated sales tax regime for export-oriented ...

Pakistan - Business & Economy

Bullion Prices on Monday KARACHI: Following were the Bullion Prices in Karachi, Lahore and Hyderabad on Monday. KARACHI: (per 10 gram) Gold Tezabi 24 CT Rs. 43671.00Silver Tezabi Rs. 617.14 LAHORE: (per 10 gram)Gold Tezabi-24 CT Rs. 43896.00Gold 22 CT Rs. 40238.00 Gold 21 CT Rs. 38409.00Silver Tezabi Rs. 620.00Silver Thobi Rs. 612.00HYDERABAD: (per 10 gram)Gold 24K Rs. 43080.00Gold 22K Rs. 39490.00 Silver Rs. 617.00 Copyright APP (Associated Press of Pakistan), 2016 ...

Pakistan - Business & Economy

KPT handles record accumulated import, exports in FY15-16 KARACHI: The Karachi Port Trust (KPT) showed an outstanding performance as its accumulated import and export cargo handling during financial year ending closed at 50.05 million tons whereas in the previous financial year it remained at 43.42 million tons, showing a record 15.25% more cargo handling during 2015-16.The breakup shows that KPT handled 16.59% more to record 34.59 million tons accumulated imports and exports of dry cargo during the ending financial year 2015-16 whereas it ...

Pakistan - Business & Economy

Prices of vegetables, meat shoot as Eid nears The festival of Eid is just days away and the usual pre-Eid price hike is running on its pomp and as rates of common household commodities have gone up.According to local media reports, rates of vegetables and meat have spiked up, and are easily out of the reach of common man. The price of tomatoes has topped to Rs 200 per kilogram, witnessing a hike of Rs 100 while chicken is being sold at up ...

Pakistan - Business & Economy

Shipping activity at Port Qasim KARACHI: Four ships C.V MSC Pamela, M.T Bunga Akasia, M.V Tai Progress and M.T Olympic Spirit-II carrying containers, palm oil, and soyabean seeds and furnace oil were arranged berthing at Qasim International Container Terminal, Liquid Cargo Terminal Grain Terminal and FOTCO Oil Terminal respectively on Sunday.In the meantime two more ships C.V Al-Hilal and C.V X-Press Kailash with containers also got anchorage of Port Qasim.Berth occupancy was managed at sixty percent at the port on ...

Pakistan - Business & Economy

Gwadar airport being constructed at cost of $260mn ISLAMABAD: Gwadar International Airport to be capable of handling the largest of passenger planes including the A380 Boeing jet, is being constructed at a cost of US$ 260 million at Gwadar, Balochistan province.The amount for the airport is a full grant from the Chinese government, the Parliamentary Committee on China-Pakistan Economic Corridor (CPEC) was informed in its recently held meeting here.Additionally, the Chinese government has given a grant of $ 10 million dollars for building ...

Pakistan - Business & Economy

UBG lauds Dar for achieving tax target ISLAMABAD: The United Business Group (UBG) of Federation of Pakistan Chambers of Commerce and Industry (FPCCI) Sunday lauded the efforts of Finance Minister Ishaq Dar and his team which has resulted in achievement of tax target for the fiscal year 2015-16.It also lauded one percent increase in tax-to-GDP ratio, terming it an accomplishment and also expressed satisfaction over the forex reserves situation which has crossed 23 billion dollars.Finance Minister Ishaq Dar, PM's Special Assistant on ...