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Author Archives: Zahoor Tarar

PTDC plans to construct motels at CPEC silk route


ISLAMABAD: Pakistan Tourism Development Corporation (PTDC) would plan to construct motels at China Pakistan Economic Corridor (CPEC) silk route to facilitate tourists in a better environment. Managing Director PTDC Abdul Ghafoor Tuesday said,”PTDC wanted to acquire land at CPEC silk route for the construction of motels to accomodate tourists both domestic and foreign.” The MD PTDC said tourism was one ... Read More »

Shipping activity at Port Qasim


KARACHI: Oil tanker Maersk Tacoma carrying 42,020 tonnes Diesel oil arrived at outer anchorage of Port Qasim on Sunday. Berth occupancy was observed at the Port at 35% on Sunday where a total of six ships namely, CMA CGM Nermada, Safmarine Ngami, Morninghstar, Tamar, Bulk Electra and UACC Riyadh are currently occupying berths to load/offload Containers, Rice, Steel Coil, Soya ... Read More »

Registered companies with SECP grows to 84,201


ISLAMABAD: The total number of registered companies with the Securities and Exchange Commission of Pakistan (SECP) has increased to 84,201 by end of November 2017, said a statement issued on Wednesday. The SECP during the month of November 2017 registered 881 new companies. As compared to the corresponding month of last financial year, it represents a growth of 40 percent. ... Read More »

SBP launches Asaan Remittance Account


KARACHI: In line with its efforts to enhance outreach of basic financial services to unbanked or underserved segment of the population, State Bank of Pakistan (SBP) in collaboration with Pakistan Remittance Initiative (PRI) has launched “Asaan Remittance Account” to be opened by banks with simplified procedures. A State Bank of Pakistan (SBP) said on Wednesday that the objective of this ... Read More »

Pak-Sri Lanka friendship delegation meets Pakistani envoy

handshake - join hand

ISLAMABAD: A delegation of Pakistan-Sri Lanka friendship, trade and investment association met the High Commissioner of Pakistan, Dr. Shahid Ahmad Hashmat at the High Commission premises in Colombo on Tuesday. According to a message received here, President of the Association, Iftikhar Aziz, briefed the High Commissioner about history and activities of the Association including various social welfare and cultural activities ... Read More »

KMFB opens branch in Hunza

Khushhali bank

GILGIT: Khushhali Micro Finance Bank (KMFB) on Saturday opened its new branch in Hunza to offer area people all-inclusive banking services including Group and MSME loans, deposits, remittances, online transfer and insurance. The new branch is reflective of the bank’s commitment of further expanding its geographic reach as Pakistan’s pioneer microfinance bank, said a statement. The opening ceremony was attended ... Read More »

Pakistan-Poland bilateral political consultations’ 6th Round held in Islamabad


ISLAMABAD: Pakistan-Poland Bilateral Political Consultations (BPC)’s 6th Round was held in Islamabad this week. According to a statement issued by Foreign Office here, Pakistan side was led by Ambassador Zaheer A. Janjua, Additional Secretary (Europe), while Mr. Marek Magierowski, Deputy Foreign Minister of Poland headed the Polish side. The two sides undertook a comprehensive review of bilateral ties and discussed ... Read More »

Seminar on Implementing strategy of MoU between law dept, GPCCI


KARACHI: Seminar on implementing strategy of the MoU between law department and German Pakistan Chamber of Commerce & Industry (GPCCI) took place at Sindh assembly building here.  Minister for Law and Prisons Zia-Ul-Hasan Lanjar chaired the seminar along with Secretary Law Iftikhar Shalwani, said a statement on Wednesday. Special guests Counsel General and Deputy Head of Mission German Consulate, Carsten ... Read More »

SCCI for setting up Support Industry in Sialkot


SIALKOT: President Sialkot Chamber of Commerce and Industry (SCCI) Zahid Latif Malik has stressed the need for setting up “Support Industry” to facilitate industrial sector of the country. He said that in order to cope with future challenges of industrial sector, the government should encourage the businessmen and investors to invest in Support industry which would ultimately lead to import ... Read More »

Two held over fraud


LAHORE: The Federal Investigation Agency (FIA) on Thursday arrested two persons for receiving money from the complainants fraudulently. According to FIA spokesman, one Muhammad Sarwar, a resident of Karak Muhammadi Bhuwana District Chiniot, received Rs 550,000 from Muhammad Zafar of Chiniot for sending him to Saudi Arabia for employment. In another case, one Muhammad Iqbal of Nawan Pind Noshera Virkan, ... Read More »

SBP mops up Rs60.8b from money market


KARACHI: State Bank of Pakistan on Tuesday mopped up Rs 60.8 billion from the money market for three days through its open market operation. The rate of return accepted is 5.70 percent per annum, says SBP release. Read More »

IRSA releases 165,500 cusecs water


ISLAMABAD: The Indus River System Authority (IRSA) Tuesday released 165,500 cusecs water from various rim stations with inflow of 92,400 cusecs. According to the data released by IRSA, water level in the Indus River at Tarbela Dam was 1496.31 feet, which was 116.96 feet higher than its dead level 1380 feet. Water inflow in the dam was recorded as 54,700 ... Read More »

Shipping activity at Port Qasim

port qasim

KARACHI: Two ships M.V Da Dan Xia and M.T Three Saskias carrying General Cargo and Soya Bean Seeds were took berths at Multi Purpose Terminal (MW-1) and Grain Fertilizer Terminal (FAP) respectively during last 24 hours, said a report issued by Port Qasim Authority (PQA) here on Monday. Berth occupancy was observed at the port at 41% on Sunday where ... Read More »

Mangoes exports of 129,423 MT fetch $94.059m in two years


ISLAMABAD: The quality Pakistani mangoes exports of 129,423 Metric Ton (MT) to different countries in the world have contributed US $ 94.059 million precious foreign exchange to national kitty during two years. During year 2014-15, Pakistan exported 65,311 MT mangoes worth US $ 45.672 million while year 2015-16 witnessed export of 64,112 MT and amount was US $ 48.387 million. ... Read More »

Opening of concerned bank branches to facilitate collection of govt taxes on Sept 29


KARACHI: In order to facilitate the collection of government duties/taxes, NIFT will provide special clearing facility on the advice of State Bank of Pakistan (SBP) on September 29 from 6:00 pm. A statement issued here on Thursday by the SBP said’ All banks are, therefore, advised to keep their concerned branches open on Sept 29 (Friday) till such time that ... Read More »

Motorcycle production surges 34.81% in two months


ISLAMABAD: The motorcycles production in the country witnessed a sharp increase of 34.81 per cent during first two months (July-August) of the year 2017-18 as compared to same period of last year. The motorbikes production jumped to 324,824 units in July-August (2017-18) from the production of 240,937 units in same period of last year, according to latest data released by ... Read More »

Six ships take berth at Port Qasim

port qasim

KARACHI: The Port where six ships C.V Spint of Mumbai, C.V Prosper, C.V MSC Pamela, M.V Sea Joy, M.V Hyundai Masan and M.T Bahra carrying containers, rape seeds, proiect cargo and diesel oil were allotted berths Qasim International Container Terminal, Grain & Fertilizer Terminal, Multi-Purpose Termnal and FOTCO OIL Terminal respectively on Monday, August 28. Meanwhile five more ships C.V ... Read More »

Expansion in tax net must for bright future: PBIF


ISLAMABAD: President Pakistan Businessmen and Intellectuals Forum (PBIF), Mian Zahid Hussain expansion in the tax net is imperative for the bright and prosperous future of the country and coming generations. Currently, GDP-to-tax ratio is not high in the country which forces every government to borrow which is unsustainable, said a press release here on Wednesday. Mian Zahid Hussain said that ... Read More »

Five new discoveries to produce 70 mmcfd gas, 636 bpd oil initially

liquid gas

ISLAMABAD: Oil and gas Exploration and Production (E&P) companies, operating in different potential areas of the country, made five new discoveries during the last four months that would initially produce 70 mmcfd gas and 636 bpd oil, official sources in the Ministry of Petroleum and Natural Resources said on Friday.“Interestingly, all these discoveries have been made in Sindh province, out ... Read More »

Five ships take berth at Port Qasim


KARACHI: Five ships C.V New Ark, C.V Northern Monument, M.T Pacific Panama, Mid Nature and M.T Maran Gas Ascipeius carrying containers, Furnace oil, Phosphoric Acid and LNG were arranged berthing at Qasim International Container Terminal, FOTCO Oil Terminal, Engro Vopak Terminal, Engro Elengy Terminal respectively during last 24 hours, said a report issued by Port Qasim Authority (PQA) here on ... Read More »