07282016Thu
Last update: Thu, 28 Jul 2016 05am

Business & Economy

Pakistan - Business & Economy

KP Governor approves Rs18.2 billion ADP 2016-17 for FATA PESHAWAR: Governor Khyber Pakhtunkhwa Iqbal Zafar Jhagra on Wednesday approved Rs 18.2 billion budget for annual development program (ADP), 2016-17 for federally administrated tribal areas (FATA). Presiding over a high level meeting on ADP 2106-17 here at Governor House, it was said that as many as 997 development projects including 773 ongoing and 224 new would be executed during the fiscal year.The meeting was informed that Rs 14.9 billion would be incurred on 773 ongoing schemes while Rs 3.2 billion have been allocated for new projects. Speaking on the occasion, the Governor directed the officials concerned to expedite work on ongoing development projects, and warned that lethargy in execution of the projects would not be tolerated. He further directed to execute new projects as per the priority and necessity of the respective areas so that the maximum people could be benefitted from it. He also directed the officials of executing ...

Pakistan - Business & Economy

ICCI for introducing one-time tax amnesty to bring back overseas capital ISLAMABAD: The Islamabad Chamber of Commerce and Industry (ICCI) has called upon the government to consider introducing one-time tax amnesty scheme for those Pakistanis who have stashed their money in foreign lands to bring back their undeclared wealth on payment of a nominal amount of tax and become an active part of Pakistan's formal economy.Sheikh Pervez Ahmed, Acting President, ICCI said that many wealthy Pakistanis have kept their billions of dollars abroad due to various ...

Pakistan - Business & Economy

Shipping activity at Port Qasim KARACHI: Three ships C.V TG Poseidon, C.V Maersk Pittsburgh and M.V Ping An Song carrying containers and Project cargo took berths at Qasim International Container Terminal and multi Purpose Terminal respectively on Executive and .T Maran Gas As Clepius with containers, diesel oil and LNG also got anchored at outer anchorage of Port Qasim.In the meantime three more ships C.V CMA CGM Thames, M.T Naving-8 Executive and M.T Maran Gas As Clepius with containers diesel ...

Pakistan - Business & Economy

MULTAN: Bullion rates MULTAN: Following bullion rates were received from markets here on Wednesday;BULLION (PER 10 GRAM)=====================GOLD TEZABI-24 CT---- 42180.00GOLD 22 CT-------------38560.00SILVER TEZABI------------574.00SILVER THOBI-------------525.00Copyright APP (Associated Press of Pakistan), 2016 ...

Pakistan - Business & Economy

LAHORE: Bullion rates LAHORE: Following bullion rates were received from markets here on Wednesday:BULLION (PER 10 GRAM)=====================GOLD TEZABI-24 CT---- 42695.00GOLD 22 CT-------------39137.00 GOLD 21 CT-------------37359.00SILVER TEZABI------------615.00SILVER THOBI-------------602.00Copyright APP (Associated Press of Pakistan), 2016 ...

Pakistan - Business & Economy

Pakistan's cotton imports to hold near record highs as output dwindles MUMBAI: Cotton imports by Pakistan are expected to remain near record-high levels in the year to July 2017, as erratic weather forces farmers in the world's fourth-biggest producer to trim area under the crop, industry officials said. A supply crunch in Pakistan, at a time when back-to-back droughts have taken a toll on output at top producer India, could boost global cotton prices from their current near 11-month highs. The two countries have already taken ...

Pakistan - Business & Economy

CDA approves Rs 35,142.98 mn budget for FY 2016-17 ISLAMABAD: The Capital Development Authority (CDA) on Tuesday approved Rs 35,142.98 million budget for the fiscal year 2016-17.Chairman CDA Maroof Afzal approved the budget during the board meeting attended by the Member Environment, Administration and other officials.According to the budget document, civic body has allocated Rs 28 billion for the new development projects including Bhara Kahu bypass, Shahdara waterfall, widening of Islamabad Expressway, Margalla Chair Lift and upgradation of F-9 Park.An amount of Rs 300 ...