02112016Thu
Last update: Thu, 11 Feb 2016 10pm

Business & Economy

Pakistan - Business & Economy

Pakistan to export 50,000tonnes Kinnow to Indonesia this season ISLAMABAD: Pakistan will export 50,000 tons Kinnow (Orange) to Indonesia during the present season, December 2015 to April 2016.According to official sources, Kinnow exports to Indonesia surged from US $ 3 million in 2013 to US $ 19.3 million in 2014, after coming into effect of the Mutual Recognition Agreement on sanitary and phyto-sanitary measures for agricultural products and grant of Pest Free Area Recognition for Pakistan's Kinnow allowing entry through Tanjung Priok Port of Jakarta.In addition, the waiver of customs duty on import of Pakistani Kinnow under the Preferential Trade Agreement (PTA) has resulted in further increase of shipments.The export of Kinnow to Indonesia, thus, reached US $ 23 million in 2015 and was expected to be around US $ 27?30 million in 2016.As per details Kinnow consignments have started reaching in Jakarta, Indonesia, through Tanjung Priok Port and in Surabaya, with the first consignment arrived in third week ...

Pakistan - Business & Economy

Pakistan's FDIs to touch $1.3 billion by June 2016: BOI ISLAMABAD: Pakistan's foreign direct investments are expected to touch $1.3 billion or more by the end of this year due to encouraging first six months figures as compared to the last year in the same period.This was disclosed by a spokesman of Board of Investment (BOI) here on Saturday.According to FDI statistics for the first six months of the fiscal year (July - Dec 2015), the total FDI inflows touched $ 1087.2 millions whereas the ...

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 ...

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 ...