02072016Sun
Last update: Sun, 07 Feb 2016 10am

Business & Economy

Pakistan - Business & Economy

IMF review proves Govt economic success: UBG ISLAMABAD: The United Business Group (UBG) of Federation of Pakistan Chamber of Commerce and Industry (FPCCI) on Friday said the latest International Monetary Fund (IMF) review proves economic attainment of the government as the finance minister and his team has paved way for development thwarting any chance of default.Pakistan was facing serious balance of payments crisis in 2013 which has been buried forever paving way for microeconomic stability and economic success, it said.Chairman of the UBG Iftikhar Ali Malik in a statement that microeconomic stability had been achieved and now government should consider increasing the pace of reforms.He said that situation of debt servicing is satisfactory and the remaining structural weaknesses should be settled at earliest.Iftikhar Ali Malik said that government should push the sale of bleeding state-run enterprises which continue to waste over Rs 500 billion per annum that results in budget deficit.The veteran business leader said that sale ...

Pakistan - Business & Economy

Bumper potato crop expected to bring in record Foreign exchange ISLAMABAD: Country is expected to a bumper potato production this season fetching a record foreign exchange, said a senior official of Ministry of National Food Secretary and Research (NFSR).Secretary National Food Security and Research (NFSR) Seerat Asghar in a briefing at Ministry said the potato harvest is under way in Punjab which grows over 90 percent of the crop in the country and initial estimates put the potato yield at 3.71 million tons.The provincial production ...

Pakistan - Business & Economy

Pak-China Business Opportunity Conference to be held next week ISLAMABAD: Minister for Commerce Khurram Dastagir Khan said on Thursday that Pakistan China Business Opportunity Conference will be held here next week to further invigorate the trade and business relations between the two friendly countries."The ministry of commerce is hosting a day long Pak- China Business Opportunity Conference to exploit business opportunities being offered for Chinese investors in Pakistan," he told APP in an exclusive interview.The Chinese business delegation will also visit Lahore and then ...

Pakistan - Business & Economy

Meeting held to review arrangements for LNG based projects ISLAMABAD: Finance Minister Senator Mohammad Ishaq Dar here on Wednesday chaired a meeting to review arrangements for undertaking the additional 1000 MW LNG based projects under IPP mode.Federal Minister for Petroleum and Natural Resources, Shahid Khaqan Abbasi was also present on the occasion, said a statement issued by Ministry of Finance here.The meeting discussed arrangements regarding smooth supply of gas to these power stations and also had further deliberation on selection of sites.The meeting was ...

Pakistan - Business & Economy

E-commerce on track to become $5bn industry in Pakistan by 2020 ISLAMABAD: With online shopping and smartphones penetrating rapidly around the globe, the influx of mobile sales would also have a positive impact for Pakistani's e-commerce market which is on track to become a US $ 5 billion industry by 2020.Both these elements mesh well with each other and proving to be a winning combination, as they provide consumers capability to make purchases with extreme ease while they are `on the go' or when they are ...

Pakistan - Business & Economy

SCCI president for setting up organized mini industrial estates SIALKOT: President Sialkot Chamber of Commerce and Industry (SCCI) Major(R) Mansoor Ahmed has stressed the need for establishing well organized mini industrial areas to cater to the needs of small, medium and micro level industry of the area. In an interview with APP on Wednesday, he said the mini industrial areas would provide employment opportunities to workers and help expand the radius of industrial sectors.The SCCI President stated that vending industry was an integral part ...

Pakistan - Business & Economy

KPCCI leaders hail identification of seven industrial zones in KP PESHAWAR: The leaders of Khyber Pakhtunkhwa Chamber of Commerce and Industry (KPCCI) here Wednesday hailed the identification of seven industrial zones on western route on China Pakistan Economic Corridor (CPEC) and termed it a positive step towards generating economic activities in the province.Commenting on the report regarding identification of 12 potential industrial zones including five in Balochistan and seven in KP, former President KPCCI Yusaf Sarwar said the areas identified for establishment of special economic ...