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Last update: Sat, 01 Oct 2016 05pm

Business & Economy

Pakistan - Business & Economy

AIIB approves $300mn in loans to Pakistan BEIJING: The China-led Asian Infrastructure Investment Bank (AIIB) approved loans totalling $320 million to energy projects aiming to ease severe power shortages in Myanmar and Pakistan, the bank said on Thursday. A $300-million loan will fund expansion of a hydropower project in Pakistan, co-financed with the World Bank, and a loan of $20 million went to a power plant in Myanmar co-financed with other lenders, the bank said in a statement."With the approval of two new projects, we are well on our way to meeting our target to extend financing of $1.2 billion in 2016," said President Jin Liqun, adding that the move met a core mandate of backing green and cost-effective infrastructure.The bank has previously co-financed projects such as a slum renovation in Indonesia and highway construction in Pakistan and Tajikistan.Crisis-hit Mongolia plans to pitch a number of railway projects to the AIIB as it steps up efforts to ...

Pakistan - Business & Economy

Shipping activity at Port Qasim KARACHI: Four ships C.V Conti Annapurna, M.T Al- Salam II, M.T Globe Tanya and M.t Gaschem Pacific carrying Containers, Diesel oil LPG were allotted berths at Qasim International Container Terminal, FOTCO Oil Terminal, SSGC Terminal and Engro vopak Terminal respectively on Wednesday, 28th September-2016. Meanwhile a coal carrier Novios Primavera also arrived at outer anchorage of Port Qasim during last 24 hours.Berth Occupancy was managed at the Port at Sixty seven on Wednesday where a ...

Pakistan - Business & Economy

Govt to sign free trade contracts with Turkey, Thailand ISLAMABAD: Federal Minister for Commerce Engr. Khurram Dastgir Khan on Wednesday said the necessary work has been completed for free trade contracts with Turkey and Thailand.Replying to a question in the National Assembly, he said that in 2017, free trade contracts would be signed with South Korea."We have trade opportunities with Russia in the field of defence and agriculture sector," he said and added that Russia was also interested in Pakistani potatos and oranges.He said, ...

Pakistan - Business & Economy

Urea fertilizer available in market at Rs1200 ISLAMABAD: Federal Minister for Commerce Engr Khurram, Dastgir Khan on Wednesday said that the price of Urea fertilizer in the country has been decreased from Rs 2200 to Rs 1200.He told National Assembly in reply of question that per unit price of electricity for farmers has been decreased upto 3 rupees on tube wells.Khurram said that Trade Corporation Pakistan has imported 1,387,918 ton of fertilizer in 2015-16 through Gawadar Port, while 4,66,182 ton fertilizer has ...

Pakistan - Business & Economy

Industrial output grows 2.62pc in July ISLAMABAD: The country's large scale manufacturing (LSM) sector has witnessed growth of 2.62 percent during first month of current fiscal year as compared to the corresponding period of last year.The Quantum Index Numbers (QIM) of large scale manufacturing industries was recorded at 118.97 points during July (2016-17) against 115.94 points during same period of last year, according the data of Pakistan Bureau of Statistics (PBS) released here on Wednesday.The highest growth of 1.52 percent was ...

Pakistan - Business & Economy

Shipping activity at Port Qasim KARACHI: Shipping activity remained active at the Port where four ships C.V Maersk Atlanta, C.V MSC Al-Ghero, M.T Atlantic Glory and Al-Kharaitayat carrying Containers, Chemicals and LNG were arranged berthing at Qasim International Container Terminal, Multi Purpose Terminal, Engro Elengy Terminal respectively on Tuesday, 27th September-2016. Meanwhile two more ships C.V Conti Annapurna and m.t bavinoscirit with Containers and Furnace oil arrived at outer anchorage of Port Qasim during last 24 hours.Berth Occupancy was managed ...

Pakistan - Business & Economy

US urges Pakistani business community to take full benefit of US GSP programme ISLAMABAD: Second Secretary for Trade and Investment, Benjamin Embury, Embassy of the United States of America has called upon the Pakistani business community to take full benefit of US Generalized System of Preferences (GSP) programme for promoting exports with USA as this programme provided low tariff or duty free access to many categories of Pakistani products into US market.He said the US GSP programme was available to Pakistani private sector till 2017 and there was ...