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Pakistani Merchandise: US urged to grant duty-free access  RECORDER REPORT LAHORE: The Lahore Chamber of Commerce and Industry has urged the US administration to take urgent and immediate measures to grant duty-free access to Pakistani merchandise that would ultimately help overcome its economic woes. The LCCI President Irfan Qaiser Sheikh in a statement on Saturday said that Pakistan needs extra-ordinary cooperation from the United States as it was a frontline ally with the United States while facing the brunt of war on terror even today when the rest of the world is on the path to progress and prosperity. "Economic stability of Pakistan through prompt direct market access to US is must for the economic viability of this country," he said. Market access will help rehabilitate and reconstruct the totally damaged basic industrial infrastructure besides generating jobs of millions of jobless people. Besides this there exists a vast scope for US investors to make investment in several sectors including power, textile, ...

Power generation being switched over from thermal to coal: Ahmad Mukhtar  LAHORE: Federal Minister for Water and Power Chaudhry Ahmad Mukhtar said on Saturday that power generation was being switched over from thermal to coal with the cooperation of China due to which the capacity of power Generation Companies (GENCOs) would improve. Talking to the media at Allama Iqbal International Airport, he said the government was trying to overcome electricity shortage and in the second phase the tariff of electricity would be brought down. Answering the questions by ...
UNISAME urges PM to appoint private sector heads for better results KARACHI: The Union of Small and Medium Enterprises (UNISAME) has urged the Prime Minister Raja Pervez Ashraf to appoint new Chief Executive Officer (CEO) of Trade Development Authority of Pakistan (TDAP) from the private sector who would be capable of comprehending the global challenges facing the business community rather than a bureaucrat with limited purview. President UNISAME Zulfikar Thaver said the situation demands the appointment of a reputable businessman to head TDAP an organization supposed to ...
Shipping activity at Port Qasim KARACHI: Three ships arrived at Port Qasim on Friday, July 6 carrying containers at QICT, diesel oil at FOTCO, palm oil at LCT. Berth occupancy was maintained at 50% at the Port on Friday where a total of five ships namely MV. Salta, M.V Stx Rose, M.V Safmarine Ngami, M.T Cyrus-I, M.T Chem Road Sea, M.T Karachi, M.T Siva Mumbai are currently occupying berths to load/offload cement, containers, palm oil, furnace oil, chemical was handled at ...
Belarus to invest in automobile sector  ISLAMABAD: A Belarus delegation headed by Sergey Romanov of OJSC MAZ Minsk Automobile Plant, called on Minister of State and Chairman Board of Investment Saleem H. Mandviwalla to explore investment opportunities in the field of assembly and manufacturing of heavy vehicles in Pakistan. The Belarus delegation showed keen interest in production of tractors and other vehicles in Pakistan due to lower cost of production, lower taxes and cheap labour. The local industry itself is developed which ...


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Banking Review 2014

Foreign Debt $61.805bn
Per Cap Income $1,386
GDP Growth 4.14%
Average CPI 8.6%
Trade Balance $-1.586 bln
Exports $1.932 bln
Imports $3.518 bln
WeeklyMay 21, 2015
Reserves $17.75 bln