08282016Sun
Last update: Sun, 28 Aug 2016 07am

Business & Economy

Pakistan - Business & Economy

LCVs production up by 35.65pc ISLAMABAD: The production of Light Commercial Vehicles (LCVs) witnessed positive growth of 35.65 per cent during the first eleven months of the fiscal year 2015-16 compared to the corresponding period of last year.As many as 33,632 units of LCVs were produced in July-May (2015-16) compared to the production of 24,794 units during July-May (2014-15), according to Pakistan Bureau of Statistics (PBS).The production of buses and trucks during the period under review increased by 85.79 per cent and 37.11 per cent respectively.As many as 994 buses were manufactured during the year under review compared to 535 units last year while the production of trucks was recorded at 5,065 units compared to 3,694 units last year.The production of jeeps and cars witnessed growth of 21.57 per cent in production compared to the corresponding period of last year.As many as 168,363 jeeps and cars were manufactured during July-May (2015-16) compared to the production ...

Pakistan - Business & Economy

Cotton yarn production grew by 1.42pc in FY 2015-16 ISLAMABAD: Cotton yarn production in the country during eleven months of last financial year registered an increase of 1.42 percent as compared to the production of same period of last year.During the period from July-May, 2015-16, about 3,121,374 tones of cotton yarn produced as compared to the production of 3,077,609 tones of same period of last year, according the data of Pakistan Bureau of Statistics.Meanwhile, cotton cloth production also grew up by 0.30 percent and ...

Pakistan - Business & Economy

Shipping activity at Port Qasim KARACHI: Five ships C.V MSC Busan, M.V BBC Shanghai, M.T Buga Akasa, M.T Bhai Ravi and M.T Evita carrying containers, general cargo, palm oil, chemicals and furnace oil were allotted berths at Qasim International Container Terminal, Multi Purpose Terminal, Liquid Cargo Terminal, Engro Vopak Terminal and FOTCO Oil Terminal respectively on Sunday,Meanwhile five more ships C.V Castor-N, C.V CMA CGM Amazon, M.V JS Rhin, M.T Chemroad Rose and M.V KSL Dan Yang with containers, coal, ...

Pakistan - Business & Economy

Pakistan's trade share in Global market likely to surge ISLAMABAD: Pakistan's trade share in global market is expected to increase due to economic activities under China-Pakistan Economic Corridor, regional trade arrangements and Strategic Trade Policy Framework.According to Radio Pakistan, the government has taken several steps relating to cost of doing business, market access and competitiveness.Under Strategic Trade Policy Framework, a number of measures have been announced to enhance Pakistan's export competitiveness and institutional strengthening.A total of twenty billion rupees will be spent on development ...

Pakistan - Business & Economy

Sargodha Dry port to bring revolutionary changes' SARGODHA: Establishment of Sargodha dry port will bring revolutionary changes in the country's economy as well as enhance economic activities in the area.Talking to APP here on Saturday, President, Sargodha Chamber of Commerce and Industries Mukhtar Mirza said the federal government on the directions of Prime Minister Mohammad Nawaz Sharif had pleased the demand of dry port for the area and also allocated land for the new dry port near Mitha Luk railway station.He said ...

Pakistan - Business & Economy

Sindh govt sanctions grant for 10 pc increase in net pension KARACHI: Sindh Government has sanctioned grant for 10 percent increase in net pension with effect from 1st July, 2016 until further orders to all civil pensioners of the Sindh Government.All civil pensioners of the Sindh Government, who are 85 years old or more, shall be allowed 25 percent, instead of 10 percent increase in their net pension with effect from July 1, said a statement on Friday.The 10 percent increase in pension as allowed by ...

Pakistan - Business & Economy

Govt efforts reduce budget deficit to 4.6pc of GDP ISLAMABAD: The present government efforts have resulted in reduction of budget deficit which has come down from 8.8 per cent of Gross Domestic Product (GDP) in May 2013 to 5.3 percent of GDP during 2014-15.Furthermore it has come down to 4.6 per cent of GDP in financial year 2015-16.Finance Division sources on Friday said the government had made all efforts to reduce budget deficit which included introduction of austerity measures, complete ban on purchase of ...