06302016Thu
Last update: Thu, 30 Jun 2016 08pm

Business & Economy

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 million has been earmarked for utility charges as electricity, gas and telephone etc.Total 15 percent has been increased in non-development expenditures for 2016-17 while Rs 150 earmarked for expected increase in pay and allowances and pension.The amount of Rs 5.2 billion has been earmarked for salaries and pension of CDA employees while Rs 1.6 billion allocated for the employees who have been transferred to Islamabad Metropolitan Corporation.The CDA has also allocated sufficient amount for the ...

Pakistan - Business & Economy

Cement dispatches in local market touch 26.97mn tons mark ISLAMABAD: The first nine months of this year has witnessed 26.97 million tons of cement dispatches in local market as compared to 22.99 million tons last year, posting a healthy growth of 17.31 per cent.The growth situation during current year improved to 9.7 percent as compared to 3.9 percent last year.Encouragingly, in view of expected demand from development projects under Public Sector Development Programme (PSDP) and China Pakistan Economic Corridor (CPEC) and ongoing housing schemes ...

Pakistan - Business & Economy

Over 120,000 tons mangoes likely to be exported this year: TDAP ISLAMABAD: The Senate Standing Committee on Commerce here on Monday was informed that during the current season, over 120,000 ton mangoes would be exported compared to 84,000 tons exported last year.Chief Executive Officer of Trade Development Authority of Pakistan (TDAP),S.M. Munir told the committee that due to untiring efforts of the authority, the mango export was opened up to Australia, Libya, Mauritius and South Korea after being banned for 13 years.He said demand of Pakistani ...

Pakistan - Business & Economy

Shipping activity at Port Qasim KARACHI: M.T White Purl carry 6,700 tonnes LPG was allotted berth at Engro Vopak on Sunday.In the meantime five move ships C.V Aanke, C.V MSC Victoria, C.V Al-Khar, M.V Kiran Antolia and M.T Okyroe with containers coal and furnace oil also got anchored at outer anchorage of Port Qasim.Berth occupancy was observed at the port at 40% on Sunday where a total of six ships namely C.V Athens, MV Trans Shaghai, M.V Ocean Prince, M,T ...

Pakistan - Business & Economy

Communications sector registers $ 55.7 mn net FDI ISLAMABAD: The overall communications sector - telecommunication, information technology and postal & courier services have registered US$ 55.7 million net Foreign Direct Investment (FDI) with US$ 155.8 million inflow and US$ 100.1 million outflow.The first eleven months of 2015-16 has witnessed US $ 15.84 million decline FDI in Information Technology (IT) sector.Official statistics have revealed on Sunday that overall FDI posted an increase of 10 percent during first eleven months of this fiscal year and ...

Pakistan - Business & Economy

Rs 49 billion allocated for completion of CPEC's Western route ISLAMABAD: The federal government has allocated around Rs 49.5 billion of funds under Public Sector Development Programme (PSDP) for the year 2016-17 for completion of Western route of China Pakistan Economic Corridor (CPEC).Up to Rs 22 billion have been allocated for Burhan-Hakla (Dera Ismael Khan Motorway) which is a part of the CPEC's Western route, according to official sources in the Ministry of Planning, Development and Reform here on Sunday.The 285-kilometer motorway project to connect ...

Pakistan - Business & Economy

Pakistan exporting mangoes to over 40 countries MULTAN: Pakistan is exporting mango fruit to more than 40 countries of the world and earning handsome foreign exchange and it can be increased further by paying more heed on the fruit. This was stated by Asistant Director Agriculture Information Naveed Asmat Kohloon here on Saturday. He said the countries includes Canada, Germany, United Kingdom, France, Italy, Island, Denmark, Holland, Switzerland, Belgium,UAE, Saudi Arabia, Bahrain Kuwait, Singapore, Malaysia, South Korea, Lebanon and some others where ...