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IRP being pursued in varsities to strengthen manufacturing sector ISLAMABAD: The government is pursuing Industrial Research Programme (IRP) in local engineering universities to redress technical problems of industry and strengthen manufacturing sector in the country.The share of manufacturing in Gross Domestic Product (GDP) during last five years remained around 13.5 per cent which showed a decreasing trend with the each passing year.The share of manufacturing in GDP was 13.8 per cent in 2009, 13.6 per cent in 2010, 13.4 per cent in 2011 and the percentage was 13.2 per cent in years 2012 and 2013.Official sources on Thursday said no specific study in manufacturing sector has been carried out in recent past. However, weakness of the manufacturing sector during the last five years may be attributed to domestic constraints and global economic situation, which may inter-alia include factors like heavy floods during last four years, law and order situation and terrorist incidents, power shortage and load shedding, increased number ...

Pak maritime trade to further boost as China accelerates planning to re-connect Maritime Silk Road BEIJING: The maritime trade of Pakistan will get further boost through inter-connectivity as the Chinese government is stepping up the planning of reviving the Maritime Silk Road in the 21st century, with port construction as the priority, according to local media.The plan is expected to focus on infrastructure construction of countries along the route, including ports of Pakistan, Sri Lanka and Bangladesh, the China Securities Journal said.China will coordinate customs, quality supervision, e-commerce and other ...
ICCI urges government broadening tax net for sustainable growth ISLAMABAD: President Islamabad Chamber of Commerce and Industry (ICCI) Shahban Khalid urged the government to broaden tax net and make reforms in the taxation system to get sustainable economic growth and development.Talking to APP, President ICCI said that government should set the annual tax target on equality basis and impose taxes on all industries on performance basis.He added that business community had never opposed the levy of tax, however it demanded tax should be imposed ...
Wheat support price fixed at Rs 1250 per 40 kg KARACHI: Chief Minister Sindh Syed Qaim Ali Shah has approved a summary for increase in support price of wheat from from Rs 1200 per 40 kg to Rs 1250, an official hand out issued here on Saturday said.Minister for Food Jam Mehtab Hussain Dahar said about the decision that this increase will benefit the growers and discourage illegal movement of wheat to other provinces and smuggling to Afghanistan and beyond.Copyright APP (Associated Press of Pakistan), ...
Call to enhance Pak-Bosnia trade SIALKOT: Ambassador of Bosnia in Pakistan, Nedim Markarevic has urged the business community of Pakistan to visit his country to assess possibilities of business. Addressing members of the Surgical Instrument Manufacturers Association of Pakistan (SIMAP) on Friday, he said trade bodies should send delegations to Bosnia. He hoped the business community of Sialkot would focus on enhancing bilateral trade. He said their visit to Bosnia would help develop direct interaction between business communities of both ...
SECP launches online payment facility for stakeholders ISLAMABAD: The Securities and Exchange Commission of Pakistan (SECP) is pleased to announce the launch of online payment facility for its stakeholders.An arrangement has been made with MCB Bank Limited whereby MCB customers can make payments to SECP through MCB's internet banking facility.Now customers with accounts of MCB bank can make payments to SECP through online funds transfer facility without the hassle of visiting a bank or the SECP offices.Online filers of SECP can submit ...
Textile ministry demand funds to intervene in cotton market ISLAMABAD: Ministry of Textile Industry is submitting a summary to the Economic Coordination Committee (ECC) of the Cabinet, demanding timely allocation of funds for intervening in the cotton market to bring stabilization in domestic cotton market.In this regard the Trading Corporation of Pakistan would also be directed to purchase seed cotton (phutti) instead of lint cotton, said an offical of the Ministry of Textile Industry here Friday.The initiative will help the farmers to get the ...


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Foreign Debt $60.9bn
Per Cap Income $1,368
GDP Growth 3.6%
Average CPI 7.5%
Trade Balance $-1.433 bln
Exports $2.167 bln
Imports $3.600 bln
WeeklyApril 14, 2014
Reserves $9.713 bln