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Commerce minister to chair TDAP, EDF board meetings on Friday

ISLAMABAD: Federal Commerce Minister Khuram Dastagir Khan will chair board meetings of the Trade Development Authority of Pakistan (TDAP) and Export Development Fund (EDF) on Friday in Karachi. Important decisions will be made about future strategies and plans. The heads of both organisations will apprise the minister about past achievements and performance in the meetings. A source in the Commerce ... Read More »

KP business community urges federal govt to issue relief package

PESHAWAR: Business community of Khyber Pakhtunkhwa (KP) on Tuesday urged the federal government to announce a new fiscal relief package to revive terrorism-stricken businesses and to give a much-needed boost to the economy of the province. The businesses and industries have been adversely affected due to deteriorating law and order coupled with a growing tendency of extortion in KP. The ... Read More »

Zameen to launch Property Expo on Nov 15-16

LAHORE: The leading property portal Zameen.com is going to organise Pakistan’s largest real estate event, Property Expo, at the Expo Centre in Lahore on 15th-16th November, 2014. The event aimed to provide real estate agencies, developers and other stakeholders with an unparalleled opportunity to showcase their projects and properties to thousands of prospective buyers and investors from across the country ... Read More »

Petroleum Ministry approves Rs 2.94 cut in petrol price

ISLAMABAD: The petrol price has been reduced by Rs 2.94 per litre which would be applicable from October 1 throughout the country. In a statement on Tuesday, the Ministry of Petroleum and Natural Resources said that the Oil and Gas Regulatory Authority (OGRA) had recommended decrease in petroleum prices and sent a summary in this regard to the ministry. The ... Read More »

Govt announces three holidays on Eid-ul Azha

ISLAMABAD: The federal government has announced three public holidays from October 6-8 on Eid ul Azha. The employees of federal government will enjoy five holidays on this Eid. The Ministry of Interior, through a notification, has announced that the Eid holidays will be from Oct 6 (Monday) to Oct 8 (Wednesday). Read More »

Textile Policy to be announced after Eid: Afridi

LAHORE: Textile Policy will be announced after Eidul Azha and implemented during the next financial year, said Federal Minister for Textile and Industries Abbas Khan Afridi. He was talking to media after attending the annual meeting of All Pakistan Textile Processing Mills Association. He announced that gas supply to industry in the province would not be suspended during winter. He ... Read More »

Pakistan Steel Mills to meet 50pc of capacity utilisation: CEO

KARACHI: Pakistan Steel Mills (PSM) will meet 45-50 per cent of capacity utilisation within the next month. This was stated by PSM Chief Executive Officer Zaheer Ahmed, while talking to media. He said that the mills had achieved 22pc capacity utilisation until Sept 20 and next month the target of 45-50pc of capacity utilisation would be achieved. “All the essential ... Read More »

Chinese companies invest $130m in Sindh

KARACHI: Alternate Energy Development Board (AEDB) and two private companies including Hydro China and Dawood Power (Private) Limited have signed a deal to establish a 50 MW wind power project worth $130 million near Gharo city in Sindh. Sindh Chief Minister Qaim Ali Shah witnessed sub lease (land) signing ceremony at CM House, where Consul General of China, officers of ... Read More »

EU launches program for Pakistani leather industry today

ISLAMABAD: The European Union-funded Pakistan Leather Competitiveness Improvement Programme is likely to be launched today (Tuesday). The programme is being launched under a three-phased Trade Related Technical Assistance Programme, Private Sector Development, (TRTA/PSD-III). A ceremony will be held which would be attended by a significant number of senior EU and government officials.  The EU head of the mission will be ... Read More »

Commerce minister vows to increase exports despite challenges

ISLAMABAD: Federal Commerce Minister Khurram Dastgir Khan  has said the government will increase exports despite challenges. He said  that policy reforms would be introduced in Budget 2015-16 in this regard. He said that departments concerned have been told to make consultations to resolve issues of importers. Under the vision of Prime Minister Nawaz Sharif, he said, the federal and provincial ... Read More »

Rate of doing business reduced

Karachi: The government has decided to reduce Ease of Doing Business Rate from 100 to 86. The Investment Board will offer loans and facilities for small businesses. According to the Board of Investment, the survey has been completed for easy business and that is why, the rate if doing business has been lowered. In the survey, a report has been ... Read More »

Farmers warn govt of protests against cotton policy, heavy taxes

Pakistan Kissan Ittehad president announces that farmers will not pay taxes on agricultural income MULTAN: The Pakistan Kissan Ittehad (PKI) will start a protest demonstration against the cotton policy and heavy taxes imposed on the farmers. They will initiate a protest movement against the discriminatory taxes and low rates of cotton yarn and paddy. PKI President Khalid Mehmood Khokhar said, ... Read More »

Vegetable price goes up on increase in demand

LAHORE: Just few days before the Eidul Azha, price of vegetables kept on increasing in the city markets while the supplies of the majority of seasonal vegetables remained suspended pushing the rates higher. As per details, the vegetable prices were increasing as expected before the Eid day; however, as tomato was imported from India, pressure on this commodity is not ... Read More »

PTCL building fire disrupts ATMs, online banking

LAHORE: The fire which broke out in Pakistan Telecommunication Company Limited (PTCL) exchange located on Egerton Road on Sunday morning disrupted telecommunication services in the city, causing the losses worth millions of rupees. The fire damaged internet and mobile service in some areas of the city. The majority of ATM machines went out of order in the city and online ... Read More »

OGRA suggests Rs 2.93 cut in petrol price

ISLAMABAD: The Oil and Gas Regulatory Authority (OGRA) has recommendation cut in oil prices to the Petroleum Ministry. OGRA has recommended Rs 0.94 per litre reduce in the price of high-speed diesel; Rs 2.93 reduction in petrol; Rs 1.30 decrease in kerosene oil and Rs 1.87 decrease in the price of HOBC. The new price will be applicable from October ... Read More »

Zong launches 4G LTE service

LAHORE: Pakistan’s one of the largest cellular company Zong has launched its 4G LTE service in seven major cities. According to the company officials, Zong will likely to invest about $1 billion in three to four years to spread its LTE network in the country. Zong currently has nearly 27.2 million national subscribers. China Mobile Pakistan has already won a ... Read More »

Govt flayed for delaying auto policy

ISLAMABAD: All Pakistan Motor Dealers Association (APMDA) has accused the government of ‘intentionally’ delaying auto policy and said that yellow cab deal between Pak Suzuki Company and Punjab government is the main cause behind postponement. APMDA Chairman HM Shahzad alleged that Suzuki Company had provided the Punjab government more than 50,000 vehicles for yellow cab scheme at discount rate and ... Read More »

Crackdown against Wasa defaulters started

RAWALPINDI: The Water and Sanitation Agency (Wasa) has started a drive against defaulters for recovery of dues. Starting the drive against both domestic and commercial defaulters, Wasa Special Magistrate Amir Ashfaq Qurashi and Deputy Director Revenue Rana Shams ur Rehman have raided a hotel, service stations and various localities and confiscated 5 illegal water motors and served notices to 25 ... Read More »

Finance Ministry blames sit-ins for rupee depreciation, debt increase

KARACHI: The ongoing political impasse has resulted in depreciation of rupee and the ongoing sit-ins of the Pakistan Tehreek-e-Insaf and Pakistan Awami Tehreek have forced foreign dignitaries to postpone their visits to Pakistan, according to the Finance Ministry. It is feared that prices of essentials will go up due to destruction of standing crops and increase in imports. This has ... Read More »

SECP starts 42 show-cause proceedings

ISLAMABAD: The Securities and Exchange Commission of Pakistan (SECP) has initiated 42 new show-cause proceedings in July and August due to non-compliance with legal requirements. During the last two months, the SECP’s Enforcement Department concluded 50 ongoing proceedings against the companies and chief executives, directors and auditors of the companies. Moreover, 19 investor complaints pertaining to non-issuance of shares, non-verification ... Read More »