01192017Thu
Last update: Thu, 19 Jan 2017 09pm

Business & Economy

Pakistan - Business & Economy

Steps demanded to boost worker remittances ISLAMABAD: The Federation of Pakistan Chambers of Commerce and Industry (FPCCI) on Thursday said country is paying half of the import bill through remittances therefore this sector should be given extra attention.Overseas remittances play a very important role in boosting forex reserve and balancing trade deficit therefore steps must be taken to ensure its continued flow, said Abdul Rauf Alam, President FPCCI in a statement issued here.Abdul Rauf Alam said that government should ensure growth in remittances though various initiatives including finding new markets.The president of the Apex chamber called for improvement in the existing system to encourage remittances which would strengthen forex reserves and help national development.He said that Pakistan received 65 percent of the money from Middle East while the rest of the money comes from USA, UK and other countries.Brexit and developments in America can have a negative impact on the remittances for which we should start ...

Pakistan - Business & Economy

Govt bans import of old auto parts ISLAMABAD: Minister of State Engineer Muhammad Baligh ur Rahman on Thursday told in the Senate that import of old and used auto parts including serviceable auto parts imported as steel scrap is banned in terms of IPO 2016.Similarly, he said, chassis of used auto motive vehicles cut into pieces whether or not described as steel scrap is also banned for import into the country.Replying to a question, he said that in wake of above restriction ...

Pakistan - Business & Economy

Dar for further easing doing business in country ISLAMABAD: Finance Minister, Senator Mohammad Ishaq Dar Thursday, while appreciating the efforts of the Finance Division and State Bank of Pakistan (SBP), stressed the need for further improving the ease of doing business in the country.The Minister was chairing a meeting on matters related to Finance Division during which he was briefed by Secretary Finance, Dr. Waqar Masood Khan, regarding macroeconomic indicators which, continued to show positive growth.SBP Governor also apprised the Finance Minister on ...

Pakistan - Business & Economy

Textile exports up by 10pc in November ISLAMABAD: Exports of textile sector went up by 10pc to surpass US $1 billion in November 2016.As per trade figures issued by Pakistan Bureau of Statistics (PBS), apparel exports soared by 13 percent, knitwear exports climbed up by 12 percent, bed wear exports went up by 3 percent and towels exports grew by 2 percent, private news channel reported.Though refunds by the government have facilitated textile exporters to some extent but production cost was continuously ...

Pakistan - Business & Economy

Pakistani envoy interacts with British business leaders in Bradford ISLAMABAD: Pakistan High Commissioner to the UK, Syed Ibne Abbas had a luncheon meeting with a group of British business leaders, City Council representatives, government officials and academics in Bradford.The purpose of the meeting was to develop business and economic ties with the British businesses and reach out to public sector organizations of the UK, a message received here from London on Wednesday said.In his remarks, the high commissioner gave an overview of the trade ...

Pakistan - Business & Economy

APCNGA lauds govt decision to deregulate CNG prices ISLAMABAD: All Pakistan CNG Association (APCNGA) Tuesday lauded the government decision to deregulate prices of compressed natural gas (CNG) countrywide, terming it a great step towards revival of Rs 450 billion industry.According to a statement issued here, the APCNGA chairman Ghiyas Abdullah Paracha said the government recently approved the deregulation of the CNG prices for Sindh and Khyber Pakhtunkhwa provinces on the pattern of Punjab."It has ended the role of Oil and Gas Regulatory Authority ...

Pakistan - Business & Economy

About 405,287 tons ghee, 123,281 tons oil produced in 4 months ISLAMABAD: Domestic production of vegetable ghee and cooking oil during the first four months of current financial year were recorded at 405,287 tons and 123,282 tons respectively as compared the production of corresponding period of last year.During the period from July-October, 2016, the production of above mentions commodities witnessed slight decreased of 1.37 percent and 2.66 percent respectively, according the data of Pakistan Bureau of Statistics (PBS).The domestic production of vegetable ghee was recorded at ...