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Pakistan in deals to export 250,000 T sugar, subsidy helps ISLAMABAD: Pakistan has signed deals to export 250,000 tonnes of sugar, after the government approved in December a subsidy of $100 a tonne for overseas sales of 650,000 tonnes of the sweetener lying with its mills, a top industry official said.Rising shipments from Pakistan in an amply-supplied world sugar market could further depress the benchmark New York prices that sank to their lowest level since 2010 on Tuesday and are on track for their fifth consecutive annual drop.Mills in Pakistan have sealed export deals at $370-$400 a tonne for prompt deliveries to the buyers in Africa, Central Asia and the Middle East, Iskander Khan, chairman of the Pakistan Sugar Mills Association, told Reuters.Pakistan produces about 6 million tonnes of sugar but consumes only around 4.5 million tonnes a year. It has been struggling to export the sweetener to shore up the deteriorating financial health of its mills hit by two ...

SECP registers 454 new companies in February ISLAMABAD: The Securities and Exchange Commission of Pakistan (SECP) has registered 454 new companies during the month of February, new incorporation witnessed 5 % increase as compare to same period last year and indicating investors' confidence.Around 91 percent companies were registered as private limited companies, while around 6 percent companies registered as single member companies. Three percent of the companies were registered as public Unlisted, associations' not-for-profit and foreign companies, says a statement issued by ...
LCCI opposes proposed raise in gas tariff LAHORE: Lahore Chamber of Commerce and Industry (LCCI) Tuesday urged the government to avoid making any increase in gas tariff as it would jack-up cost of doing business and oust the export-oriented industries from international export market.LCCI President Ijaz A. Mumtaz said here the increase would hamper the growth of manufacturing sector that was already facing a number of internal and external challenges.He said, the proposed raise would create multiple problems for industrialists as they ...
Intl' airport to enhance trade in South Punjab; MCCI president MULTAN: Multan Chamber of Commerce and Industry (MCCI) President Mian Iqbal Hassan on Tuesday said that new international airport in Multan would increase trade and benefit over 40 million population of Southern Punjab.Talking to APP here, he said the government has performed a commendable job by providing a state-of-the-art international airport, adding that it was right time to encourage establishment of industrial units, producing value added products to extract maximum advantages out of the facility.He ...
Ministry to facilitate Textile industry for enhancing capacity ISLAMABAD: The Ministry of Textile Industry has embarked upon a plan to get on board all stakeholders to comprehensively execute the textile policy and revisit the concern of industries to facilitate them for enhancing their capacity in order to boost exports.The meeting of Federal Textile Board (FTB) will be held soon to discuss the issues being faced by industrialists and the ministry to addresses these issues, an official of Ministry of Textile Industry said while ...
FBR clarifies it has not taken any advance from banks ISLAMABAD: The Federal Board of Revenue (FBR) Thursday rejected some reports in the press which stated that FBR was collecting advance from banks and paying 15 percent markup on it to add to its revenue collection.It is hereby clarified that the FBR has not taken any advance from the banks and compensation is being paid in only those cases where Appellate Tribunal, High Court and Supreme Court have set aside demand created and collected by ...
Pak set to meet bumper white gold production as arrivals reach 14.7 million bales MULTAN: Country's white gold production may touch the highest mark since 1947 as arrivals of seed cotton (Phutti) at ginneries across Pakistan reached 14.7 million bales till Mar 1, 2015 with picking of cotton was still in progress.The year 1991-92 was the first cotton season when country had witnessed a bumper yield of just over 12.8 million bales, a record that was broken in 2005 and in 2012 when production crossed 14 million bales of ...


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Banking Review 2014

Foreign Debt $61.805bn
Per Cap Income $1,386
GDP Growth 4.14%
Average CPI 8.6%
Trade Balance $-1.586 bln
Exports $1.932 bln
Imports $3.518 bln
WeeklyApril 16, 2015
Reserves $16.818 bln