AVN 60.40 Increased By ▲ 0.25 (0.42%)
BOP 10.11 No Change ▼ 0.00 (0%)
CHCC 130.25 Increased By ▲ 0.19 (0.15%)
DCL 9.57 Increased By ▲ 0.01 (0.1%)
DGKC 105.66 Increased By ▲ 0.13 (0.12%)
EFERT 67.80 Increased By ▲ 0.10 (0.15%)
EPCL 30.73 Increased By ▲ 0.08 (0.26%)
FCCL 21.30 Decreased By ▼ -0.02 (-0.09%)
FFL 13.25 Decreased By ▼ -0.04 (-0.3%)
HASCOL 14.36 Decreased By ▼ -0.01 (-0.07%)
HBL 125.35 No Change ▼ 0.00 (0%)
HUBC 80.50 Increased By ▲ 0.35 (0.44%)
HUMNL 8.79 Decreased By ▼ -0.01 (-0.11%)
JSCL 17.25 Increased By ▲ 0.05 (0.29%)
KAPCO 25.46 Increased By ▲ 0.06 (0.24%)
KEL 3.77 Increased By ▲ 0.01 (0.27%)
LOTCHEM 12.93 Decreased By ▼ -0.02 (-0.15%)
MLCF 35.54 Increased By ▲ 0.09 (0.25%)
OGDC 112.77 Increased By ▲ 0.12 (0.11%)
PAEL 34.74 Increased By ▲ 0.10 (0.29%)
PIBTL 11.93 Increased By ▲ 0.04 (0.34%)
PIOC 87.47 Increased By ▲ 0.36 (0.41%)
POWER 9.40 Increased By ▲ 0.04 (0.43%)
PPL 99.45 Decreased By ▼ -0.05 (-0.05%)
PSO 182.80 Increased By ▲ 0.10 (0.05%)
SNGP 55.08 Increased By ▲ 0.08 (0.15%)
STPL 11.85 Decreased By ▼ -0.05 (-0.42%)
TRG 50.35 Increased By ▲ 0.05 (0.1%)
UNITY 13.35 Decreased By ▼ -0.10 (-0.74%)
WTL 1.39 Increased By ▲ 0.03 (2.21%)
BR100 4,146 Decreased By ▼ -14 (-0.34%)
BR30 21,193 Decreased By ▼ -110 (-0.52%)
KSE100 39,915 Decreased By ▼ -115 (-0.29%)
KSE30 17,262 Decreased By ▼ -35 (-0.2%)
COVID-19 TOTAL DAILY
CASES 284,660 0
DEATHS 6,097 0
Sindh 123,849 Cases
Punjab 94,477 Cases
Balochistan 11,906 Cases
Islamabad 15,261 Cases
KP 34,692 Cases

Advisor to PM on Commerce Abdul Razak Dawood Monday launched Pakistan Tobacco Company Limited, a subsidiary of a British American Group (BAT), new exports initiative "Made in Pakistan-2" for future manufacturing investments to enhance exports.
In this regard, a launch event was held here on Monday, which was graced by various dignitaries including economists, business maestros and important dignitaries from the government's economic, investment and commerce teams.
Regional management of the British American Tobacco was in attendance too.
The PTC has contributed over Rs400 billion in the national exchequer in the form of excise and sales tax during the last five years.
The notable CSR initiatives include Mobile Doctor Units (treating an average of 70,000 patients yearly free of cost), solar energy provision in rural areas, and water filtration plants.
Talking to reporters on the conclusion of the ceremony, Abdul Razak Dawood said that there was a need to evaluate turbulent world economy with caution.
Responding to a query on hedging of the POL prices in the wake of massive reduction in the POL prices in the international market, Abdul Razak Dawood responded that the POL prices witnessed a sharp decline from $50 per barrel to $31 per barrel, and hedging was one of the options in front of the government.
He said that the hedging became problematic, if the oil prices further reduced from $31 to $25 per barrel in the international market.
When asked about reasons for resignation of outgoing Board of Investment (BoI) Chairman Zubair Gilani, the Advisor to PM on Commerce said that he resigned because of his personal reasons.
To a query, he said he had no differences with anyone including Zubair Gilani.
Guest of Honor Syed Zulifkar Abbas Bukhari, the Special Assistant to the Prime Minister on Overseas Pakistanis and Human Resource Development, stated that the PTC was a testament to a true foreign investment and an international company in Pakistan.
He highly appreciated that in addition to the $30 million achieved by the PTC, the government sees a large commitment of 50 million dollars through foreign direct investment (FDI) and foreign exchange earnings.
Syed Zulfikar Bukhari stated that the figures speak for itself that the company wanted to play a role in growing the exports of Pakistan exponentially.
Being the first multinational of the country and part of a very few companies who are making such commitments, to revive the economic conditions of the country.

Copyright Business Recorder, 2020