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PIA & Etihad Airways relaunch code-share partnership

ISLAMABAD: Pakistan International Airlines (PIA) and Etihad Airways renewed the code-share agreement, allowing passengers access to each airlines routes. A PIA spokesperson said that under the code-share partnership, the customers of the national flag carrier could also travel on the flights of Etihad Airways across the globe. In return, PIA will facilitate the passengers of Etihad Airways on Abu Dhabi-Pakistan ... Read More »

PEVMA established to promote induction of electric vehicles

KARACHI: The electric vehicles manufacturers and assemblers have come together to establish Pakistan Electric Vehicles Manufacturers Association (PEVMA) with Mr. Sheikh Ehtesham ul Haq of SZS Group and Mr. Muhammad Ayaz of Green Wheels Private Limited nominated as Chairman and Senior Vice Chairman of the association. The objective of establishing the association is to promote the induction of Electric Vehicles ... Read More »

Govt to take fish export up to $3b

ISLAMABAD: The government was determined to take the export of fish up to three billion dollars, from 400 million dollars, said Parliamentary Secretary for Maritime Affairs Jamil Ahmed Khan in the National Assembly. Responding to a supplementary question during question hour on Thursday, he said, “Pakistan fishing market has the capacity to export about 2 to 3 billion Dollars fish, ... Read More »

Sino-Pak joint venture to invest $600m in tyres manufacturing sector

KARACHI: The Sino-Pak Tire Manufacturing Joint Venture is “an import substitution opportunity” that seeks to leverage Pakistan’s locational advantage as well as growing market for vehicle tyres, said Dr Xu Peng, Managing Director of InvestTarget — the investment bank and private equity fund which is the largest investor in the consortium. The company will aim to produce five to six ... Read More »

NA panel wants NADRA to simplify ID card correction process

ISLAMABAD: The National Assembly’s Standing Committee on Interior Thursday recommended setting up more National Database Registration Authority (NADRA) centres across the country to facilitate the public. A meeting of the NA panel was held today under the stewardship of MNA Raja Khurram Shahzad Nawaz. The committee proposed that NADRA establish a registration center in Karachi’s Ibraheem Haidri area to facilitate ... Read More »

SECP’s easy procedures led to 19pc surge in new incorporation

ISLAMABAD: The recent measures by the Securities and Exchange Commission of Pakistan (SECP) to make the process of companies incorporation easy and hassle free, led to 19 % increase in the registration of new companies in October 2019. As per details, in October, the SECP has registered 1,659 new companies, raising the number of total registered companies to 107,062. During ... Read More »

Nadeem Baber urges foreign investors to invest in energy sector

ABU DHABI: Special Assistant to the Prime Minister on Petroleum Nadeem Babar urged foreign investors to invest in Pakistan’s energy sector. He was speaking at 4th Abu Dhabi International Petroleum Exhibition and Conference. He informed the participants of conference that the Pakistan Tehreek-e-Insaf (PTI) government was taking multiple steps in ease of doing business, expanding energy market and opening up ... Read More »

Pakistani products to get tax-free access to massive Chinese market: Razak Dawood

LAHORE: Islamabad is expected to get tax-free access for the entry of 313 Pakistani products into the Chinese market from next month, under an upgraded free trade agreement with Beijing, the commerce adviser said on Tuesday. Adviser to PM Razak Dawood said the second phase of the free trade agreement (FTA) with China was going to be operational from December ... Read More »

Hungary seeks enhanced trade ties with Pakistan

ISLAMABAD: Hungarian Ambassador Szabó István has proposed the signing of a memorandum of understanding (MoU) between the Hungarian Export Promotion Agency (HEPA) and Trade Development Authority of Pakistan (TDAP). In a meeting with Adviser to Prime Minister on Commerce Abdul Razak Dawood said on Wednesday, the envoy informed that Hungary has made impressive progress in the agriculture sector by introducing ... Read More »

Govt to import tomatoes from Iran

ISLAMABAD: After a delay of more than a month, the government has finally reached a decision to explore avenues including import of tomatoes from Iran to arrest the skyrocketing prices of the vegetable in the domestic market. The combination of ill-timed government policies and bad weather caused disruption in supply of tomatoes — a kitchen staple — across the country ... Read More »

SBP facilitates manufacturers in import advance payment

KARACHI: State Bank of Pakistan (SBP) has facilitated manufacturing sector in advance import payment by making changes to regulatory regime. A notification issued by SBP read that attention of banks is invited to instructions issued vide EPD Circular Letter No. 01 of 2019 dated January 01, 2019 whereby import advance payment up to USD 10,000 per invoice was allowed for ... Read More »

Govt releases Rs257b for development projects under PSDP

ISLAMABAD: The government has released Rs257 billion for development projects under the Public Sector Development Programme (PSDP). In a statement on Tuesday, Pakistan Tehreek-e-Insaf (PTI) spokesperson Ahmad Jawad said that an additional amount of Rs30 billion have been earmarked by the government for Naya Pakistan Housing Scheme (NPHS). He said Punjab Chief Minister Usman Buzdar has given approval for the ... Read More »

OGRA raises RLNG price by $0.228 per mmbtu

ISLAMABAD: The Oil and Gas Regulatory Authority (OGRA) has notified revised prices of Regasified Liquefied Natural Gas (RLNG) for the current month. According to the notification, there is $0.228 per mmbtu (Million British Thermal Unit) increase in sale price of imported RLNG on the system of Sui Southern Gas Pipelines Company (SSGC) for the month of November as compared to ... Read More »

Pakistan’s exports to China will increase after new FTA: Dawood

BEIJING: Advisor to Prime Minister on Commerce Abdul Razak Dawood has said that Pakistan aims to expand its export portfolio with China well beyond its traditional products. In an interview with the China Economic Net, the adviser said Chinese government had provided Pakistan with an opportunity to export more than just textile, leather and agricultural products and now the country ... Read More »

Foreign investors keen to invest in different sectors: President Alvi

LAHORE: President Dr Arif Alvi said on Monday that foreign investors were taking interest to invest in different sectors of Pakistan due to increased business and entrepreneurship opportunities. He inaugurated a three-day 35th World Fashion Convention. The president said that with improved security situation and huge workforce, the business activities in the country has a great potential to grow. He ... Read More »

Currency dealers sell $2.4b to banks in last twelve months

KARACHI: The open market currency dealers said they have sold $2.4 billion to the banks in last twelve months while increase in inflows is likely to surpass the selling target of $3.5 billion for the ongoing fiscal year.  They said that since September last year, they sold $1bn more to banks increasing the total to $1.4 billion. According to media, ... Read More »

Pakistan’s economy stable, improving: PBBC

LONDON: Pakistan Britain Business Council (PBBC) appreciating the economic policies initiated by the government of Pakistan has said that due to its prudent policies, the economy of the country was strengthening and improving. “The latest World Bank report has also recognized and said that Pakistan has emerged as an improver in terms of ease of doing business and therefore foreign ... Read More »

Gwadar New Int’l Airport Project’s construction progressing in orderly manner

BEIJING: The construction of Gwadar New International Airport Project (GNIAP), a key project under the China-Pakistan Economic Corridor (CPEC) framework, has officially been launched and at present, the construction work is progressing in an orderly manner. The China Railway Engineering Bureau’s Airport Engineering Branch is constructing the largest foreign aid project. At present, the living area of the project has ... Read More »

Andleeb Abbas urges ECO member states to promote connectivity & trade

ANTALYA: The 24th meeting of the Economic Cooperation Organisation (ECO) has acknowledged Pakistan’s vision for promoting Regional Economic Cooperation. Parliamentary Secretary for Foreign Affairs Andleeb Abbas, while addressing the Council of Ministers of the ECO in Antalya, Turkey, stressed the need to make the organisation “an invaluable platform” to promote connectivity, trade and economic cooperation among the member states. She ... Read More »

PM Imran takes notice of ‘mishandling, delays’ on Pakistan Citizen Portal app

ISLAMABAD: Prime Minister Imran Khan took notice of the mishandling, non-resolution or delayed response on the complaints registered on the Pakistan Citizen Portal, and directed all the ministries to form a dedicated committee to evaluate the performance of the concerned officers. According to a letter issued to all ministries and divisions by the Prime Minister’s Office, a performance evaluation of ... Read More »