08272016Sat
Last update: Sat, 27 Aug 2016 04pm

Business & Economy

Pakistan - Business & Economy

Chinese company inks agreement with Balochistan Glass Limited LAHORE: Chinese company Globallink Glass Technology and Equipment and Pakistani company Balochistan Glass Limited on Thursday signed a joint venture agreement, here at the Punjab Board of Investment and Trade (PBIT) headquarters.Chief executive officer of the PBIT, Amena Cheema welcomed the CEOs of both the companies.Under the agreement, a manufacturing facility will be established near Lahore to manufacture and sell high-quality USP Type-1 neutral glass tubing, vial in Pakistan using advanced technology and equipment.USP Type-1 neutral glass tubing is a new technology that has excellent chemical resistance and great mechanical strength.A new company will be formed which will be called Paidar Hong Glass. The new company will produce high-quality Borosilicate USP Type 1 and clear glass tubing under the supervision of highly-skilled Chinese glass technologists and engineers. Total capital commitment will be approximately $9 million.In addition, two furnaces with 24 tons per day capacity each will be installed along with ...

Pakistan - Business & Economy

Vegetable ghee production increases 5.5pc in 11 months ISLAMABAD: Domestic production of vegetable ghee and cooking oil witnessed 5.05 percent and 5.78 percent increase during eleven months of last financial year as compared to the production of corresponding period of last year.During the period from July-May, 2015-16 about 1,134,290 tons of vegetableghee were produced as compared to the production of 1,079,812 tons of same period of last financial year, said data of Pakistan Bureau of Statistics.Meanwhile, cooking oil production also increased by 5.78 ...

Pakistan - Business & Economy

Pakistan to emerge as an economic power in next 10 years ISLAMABAD: Senator Ghous Muhammad Khan Niazi said Thursday that Pakistan will emerg as an economic hub in the next 10 years due to prudent policies of the government.Talking to Radio Pakistan, he said all the political parties should be united and support the government in efforts to improve the economy of the country.He further said that China Pakistan Economic Corridor (CPEC) is a game changer project that will bring an economic revolution in the country ...

Pakistan - Business & Economy

Pakistan to be among top 10 emerging markets from Asia: BMI ISLAMABAD: International financial market analysis firm (BMI) said that Pakistan would be developed as manufacturing hub over the coming years.According to a Business Monitor International (BMI) report, Pakistan would be among top 10 emerging markets from Asia and Africa in future because of its economic growth over the next ten years.The report further revealed that Pakistan whose current primary sector was agribusiness with textile and rice being the key exports was expected to become a ...

Pakistan - Business & Economy

Annual Budget of USF Company approved ISLAMABAD: Board of Directors of Universal Service Fund Company (USF Co) on Wednesday approved the annual budget of the company for the financial year 2016-17.The 45th Board of Directors Meeting convened in the Ministry of Information Technology and Telecom, Islamabad.The Chairperson, Board of Directors, USF Co and the Minister of State for IT & Telecom Anusha Rahman Khan chaired the meeting in which an overview of the main efforts and development of telecommunication services in ...

Pakistan - Business & Economy

Pakistan's trade share in global market witnesses growth by 5.48pc in five years: NA told ISLAMABAD: Minister for Law and Justice Zahid Hamid Wednesday said that Pakistan's trade share in global market had increased by 5.48 percent during the last five years.Speaking in the National Assembly during question-hour, the minister said Pakistan's export share in global market in 2015 had increased by 3.50 percent as compared to 2014.He expressed the hope that country's trade share in global market was expected to further increase due to upcoming economic activity under China-Pakistan ...

Pakistan - Business & Economy

FBR issues immovable property valuation tables for major cities ISLAMABAD: The Federal Board of Revenue (FBR) on Tuesday issued property valuation tables for major cities of the country for the purpose of calculation of capital gain tax.The valuation has been agreed between business community and FBR in recent parleys, which concluded last Saturday and announced by Finance Minister Senator Muhammad Ishaq Dar, said a statement issued by FBR here.The valuation shows various categories of open and constructed plots. Valuation tables can be downloaded from ...