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State Bank eases foreign exchange regulations for exporters

export

LAHORE: In the wake of changing global trade practices and to facilitate exporters, the State Bank of Pakistan has relaxed its foreign exchange regulations, allowing exporters to directly dispatch transport documents to the buyers abroad against shipments of up to $100,000/- or equivalent. The authorized dealers (banks) have been advised to above effect vide F.E. Circular No. 11 issued on ... Read More »

Pak-China ties have become model of state-to-state relations: Sartaj

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ISLAMABAD: Planning Commission Deputy Chairman Sartaj Aziz has said that China had become a reliable partner in Pakistan’s national development efforts as their relations had become a model of state-to-state relations. Talking to a 60-member Chinese business delegation, Sartaj said that Pakistan was an ideal destination for Chinese investors due to the goodwill for Chinese and potential of investments in ... Read More »

Ahsan stresses improving regional connectivity to boost trade

Ahsan Iqbal

ISLAMABAD: Minister for Planning, Development and Reforms, Ahsan Iqbal has stressed the need for enhancing regional connectivity among the member states of Economic Coordination Organization (ECO) to maximize trade volume among the member states. “Keeping in view the increasing connectivity across the world, the region requires greater collaboration to promote trade, development, peace and stability, however the people of ECO ... Read More »

Pak-Australia JTC agree for enhancing bilateral trade

handshake - join hand

ISLAMABAD: Pakistan Australia Joint Trade Committee on Sunday underlined the need for find ways and means to enhance bilateral trade among both the countries as current level of trade and investment between the two countries were not commensurate with the existing potential. Consensus to this regard was developed in the 7th session of Pakistan Australia Joint Trade Committee was held ... Read More »

China urges Pakistani businessmen to benefit Shanghai Economic Free Zone

CPEC

SHANGHAI: China has urged Pakistani entrepreneurs to benefit from the Shanghai Pilot Free Trade Zone (SHFTZ) aimed at opening up new economic opportunities and explore new markets for their products. Briefing a group of Pakistani newsmen Director General Bureau of External Communications of SHFTZ Wang Ying on the Economic Free Zone said it was an important part of the China’s ... Read More »

ZTBL Disburse Rs 80.337b agri-credit in 10 months

ZTBL

ISLAMABAD: Zarai Taraqiati Bank limited (ZTBL) has so far disbursed an amount of Rs80.337 billion among the farmers during the period from January to October 2017 in order to fulfill the credit requirements of the farming community across the country. The Bank had disbursed an amount of Rs92.847 billion during last year, where as it had disbursed Rs95.419 billion during ... Read More »

Around 61,753mt LPG imported in nine months

lpg

ISLAMABAD: The country has imported around 61,753 metric ton (mt) Liquefied Petroleum Gas (LPG) during first nine months of the year 2017, official sources said. “The LPG import stood at around 513,788 mt in 2016, while 2,45,578 mt in 2015 and 62,117 mt in 2014,”. During the last four years, the number of LPG marketing had reached 144 and the ... Read More »

Foreign Currency Account Scheme

foreign-currency

KARACHI: The Foreign Exchange Rates Committee of Financial Markets Association of Pakistan issued the following Base Rate, here on Monday. ALONG SIDE (Bulk Oil Pier) OP-II BW Amazon D. Mogas Trans Maritime 09/12/17 OP-III Lahore D. Crude Oil PNSC 10/12/17 ALONG SIDE (East Wharves) 1 Geum Gang L. Ehtanol East Wind 10/12/17 2/3 Vindonisa D. Coal Crystal Sea 09/12/17 4 ... Read More »

LDA asked to handover details of illegal housing schemes: report

NAB

LAHORE: National Accountability Bureau (NAB) has asked Lahore Development Authority to provide complete details of illegal private housing societies, according to a report by a private media outlet. So far details of over 300 illegal housing societies/schemes have been provided to NAB in recent past while the list of more than 350 illegal housing societies is being prepared. According to ... Read More »

IRSA releases 73,400 cusecs water

IRSA

ISLAMABAD: The Indus River System Authority (IRSA) Monday released 73,400 cusecs water from various rim stations with inflow of 37,000 cusecs. According to the data released by IRSA, water level in the Indus River at Tarbela Dam was 1441.24 feet, which was 61.24 feet higher than its dead level of 1,380 feet. Water inflow in the dam was recorded as ... Read More »

CPEC game-changer for entire region: Chinese minister

CPEC

ISLAMABAD: Assistant Minister of International Department of the Communist Party of China (CPC) Wang Yajun Monday said China-Pakistan Economic Corridor (CPEC) and One Belt One Road (OBOR) projects were the game-changer not only for Pakistan but also the entire region. Briefing on 19th National Congress of Communist Party of China (CPC) he said “All political forces and people in Pakistan ... Read More »

PIAF reiterates demand for regulatory duty withdrawal

PIAF

LAHORE: Pakistan Industrial and Traders Associations Front (PIAF) here Saturday reiterated its demand for regulatory duty (RD) withdrawal on import of necessary items including industrial raw material. PIAF Chairman Irfan Iqbal Sheikh, Senior Vice Chairman Tanveer Ahmed Sufi and Vice Chairman Khawaja Shahzeb Akram called for an immediate consultation over the issue of regulatory duty to ensure business-friendly decisions. They ... Read More »

PBIF for providing equitable investment opportunities for local investors

Investment opportunities

ISLAMABAD: Business community here on Saturday urged the government for providing equitable investment opportunities for local investor in order to promote and develop trade and investment activities for rapid socio-economic uplift of the country. In a statement, President Pakistan Businessmen and Intellectuals Forum (PBIF) Mian Zahid Hussain urged the government to ensure maintaining transparency in mega projects, besides ensuring fair ... Read More »

34 drug offenders arrested in 25 countrywide operations: ANF

ANF

ISLAMABAD: Anti Narcotics Force (ANF) has arrested 34 drug offenders and seized 181 kg drugs amounting to Rs. 221.18 million in international market in 25 counter-narcotic operations across the country. Six vehicles were also seized during the operations conducted to curb the menace. The recovered drugs comprised 154 kg Hashish, 3.8 kg Heroin, 2.5 kg Opium, 1.64 kg Methamphetamine, 940 ... Read More »

Pakistan, Iran trade up by 31% in year: Iranian Ambassador

trade

KARACHI: Lack of information and know-how about the capabilities of Iran and Pakistan in the business communities of the two neighboring Islamic countries was hindering the promotion of bilateral trade. But, the situation has been improving as Pakistan-Iran trade volume rose by 31 percent last year. “ Business communities of both countries are totally unaware of each other’s capabilities and ... Read More »

FIA arrests two human smugglers

arrest

FAISALABAD: The FIA teams Thursday conducted raids and arrested two alleged human smuggler, Khadim Masih of Chak No 197-RB and Badar Muslim of Raja Wala Sarfraz Colony, on charge of getting Rs 4.3 million from the victims. According to FIA officials, the accused received Rs 4 million from a one Zulfiqar Masih, a resident of Christian Town, over the pretext ... Read More »

NAB recovers 4316 plots in different scams

NAB

MULTAN: Director General National Accountability Bureau (NAB) Multan Atiqur Rehman said that NAB recovered 4316 plots in different property scams and handed over to affectees during its two and half year working in the region. “NAB is striving hard to eliminate menace of corruption from society. The conviction rate of Multan’s NAB cases remained 76 per cent, which is proof ... Read More »

IPPs urges govt to resolve payments issue

POWER PROJECT

LAHORE: The Independent Power Producers Advisory Council (IPPAC) has urged the Prime Minister to resolve serious financial crisis the independent power producers are facing on account of large overdue receivables from NTDC/CPPA. “This is in continuation to our previous letter dated November 15th and as highlighted in the previous letter, the overdue amounts payable to the 20 members of the ... Read More »

Sale of Sukuk bond appreciated

sukuk

KARACHI: The United Business Group (UBG) has lauded the government for the successful auction of bonds worth 2.5 billion dollars without being under IMF programme. The successful move speaks volumes about the increasing confidence of the foreign investors in the Pakistani economy, it said. The decision of the government to allow IMF to monitor Pakistani economy is laudable as it ... Read More »

IRSA releases 73,200 cusecs water

IRSA

ISLAMABAD: The Indus River System Authority (IRSA) Sunday released 73,200 cusecs water from various rim stations with inflow of 36,000 cusecs. According to the data released by IRSA, water level in the Indus River at Tarbela Dam was 1442.29 feet, which was 62.29 feet higher than its dead level of 1,380 feet. Water inflow in the dam was recorded as ... Read More »