01182017Wed
Last update: Wed, 18 Jan 2017 10am

Industries & Sectors

Pakistan - Industries & Sectors

CPEC spurs capacity building in cement industry KARACHI: The cement industry has gone in for capacity expansion from 44 million tons to 60 million tons within a couple of years to meet the massive rise in domestic demand due to China-Pakistan Economic Corridor (CPEC) and other public sector projects, said Chairman All Pakistan Cement Manufacturers Association (APCMA), Sayeed Tariq Saigol, here on Wednesday.The APCMA Chairman said the rise in domestic demand has improved cement industry's capacity utilisation. However, he said suggestion by some quarters for the removal of import duty based on current trend would not be a wise decision.He said abolishing import duty will not only hurt investments by existing manufacturers and new entrants but also endanger livelihood of workers.He stressed that the cement industry has been among the highest contributors to the national exchequer over the last four years, as it paid Rs. 189 billion in taxes.The contribution more than doubled from Rs. 39 billion ...

Pakistan - Industries & Sectors

Pakistan, Bosnia to boost cooperation in power generation, investment, trade SERAJEVO: Pakistan and Bosnia while vowing to explore new areas of cooperation, agreed to enhance cooperation in power generation, trade, business and investment sectorson on Wednesday.Prime Minister Muhammad Nawaz Sharif and his Bosnian counterpart Chairman of the Council of Ministers Dr Denis Zvizdic jointly addressed a press conference at the conclusion of their exclusive and delegation level talks at the parliament building.The two leaders termed their talks as detailed and constructive and said they exchanged ...

Pakistan - Industries & Sectors

IT park to help boost exports: Anusha ISLAMABAD: Minister of State for Information Technology and Telecommunication Anusha Rehman Tuesday said the information technology software park being set up in the federal capital would help boost exports from the country.Approval for the software park, which would be established by Pakistan Software Export Board (PSEB) in collaboration with Korea Exim Bank, had already been obtained, she said while speaking at the IT Awards 2016 ceremony.She said the information technology (IT) sector was facing many ...

Pakistan - Industries & Sectors

Engro Foods completes acquisition of majority stake in Pakistan's dairy KARACHI: In partnership with the World Bank Group's International Finance Corporation and the Dutch development bank FMO, Royal FrieslandCampina N.V. has acquired a majority stake of 51 percent in Engro Foods, Pakistan's second largest dairy producer.A statement here on Tuesday said that Through the strategic alliance, Engro Corporation will remain a significant shareholder and partner in Engro Foods.The Pakistan dairy company is the country's second largest dairy producer. Engro Corporation will remain shareholder and significant ...

Pakistan - Industries & Sectors

IT Ministry violates mandate by spending USF on other purpose TAHIR AMINISLAMABAD: Ministry of Information Technology and Telecommunication has violated its mandate by spending Rs500 million of Universal Service Fund (USF) for purpose other than dedicated telecom services in the underserved and un-served areas.The USF is being collected from private mobile phone companies at 1.5 percent of their annual revenues to bridge digital divide in the country. Under the Ministry of IT, the USF is mandated to connect far-flung un-served and under-served areas with telecom ...

Pakistan - Industries & Sectors

SECP registered 621 companies in November ISLAMABAD: Securities and Exchange Commission of Pakistan (SECP) registered 621 new companies during the month of November 2016, an increase of 23 percent as compared to the corresponding month of preceding year.A growing trend has been witnessed in company incorporation which is the direct result of numerous facilitation measures taken by the SECP in recent past.Around 85 percent companies have been registered as private limited companies, while around 11 percent companies were registered as single ...

Pakistan - Industries & Sectors

147 MW Patrind Hydro Power project to be completed soon MIRPUR: The under construction 147 Mega Watt (MW) Patrind Hydro Power Project would start functioning in future.In various public representative delegation Raja Nisar Ahmed Khan Minister for Electricity said that the project would help the power needs of AJK which required a total of 350 MW of the electricity.He continued that since the AJK government has focused special attention to utilize all possible natural resources for enhancing the power generating capacity in the state.He underlined ...