ISLAMABAD (May 06, 2009): Federal Minister for States and Frontier Region (Safron) Najmuddin Khan has said that present government is trying to bring more foreign investment in the country and planning to offer legislative cover to protect investor. While talking to the Deputy High Commissioner of South Africa Qasim Pir in his office here on Tuesday, the minister said that government is committed to enhancing co-operation and harmony between local and foreign investors.
Sindh chief minister discusses guidelines for 2009-10 budget
KARACHI (May 06, 2009): The budget position of the current financial year was reviewed at a meeting held under the Chairmanship of Sindh Chief Minister Syed Qaim Ali Shah at Chief Minister House. The meeting discussed in detail the policy guidelines for development planning for fiscal year 2009-10.
Sindh budget 2009-10 to be presented on time
KARACHI (May 06, 2009): Despite all inconvenience being faced in making the fiscal budget for 2009-10, the Sindh government is optimistic to present the next financial plan on time, Business Recorder learnt here on Tuesday. According to the well-informed sources in the Planning and Development Department (PDD) that almost 80 percent of budget proposals, submitted by the provincial departments, have been compiled.
New trade policy will bear no fruit: Piaf
LAHORE (May 06, 2009): Pakistan Industrial and Traders Association Front (Piaf) while terming the government's decision to announce new trade policy for three year, said that the government would not be able to achieve the desired targets from the new policy till the impediments in doing business are removed.
Pakistani traders urge Obama to announce market access LAHORE (May 06, 2009): Private sector traders here urged US President Barack Hussein Obama on Tuesday to announce direct market access to Pak products on zero-rated duty, while meeting with President Asif Ali Zardari to help stabilise Pakistan's bleak economy as the country has suffered a colossal loss of $68 billion since turmoil in Afghanistan and war against terror. |
Hina reviews economic, trade ties with Germany ISLAMABAD (May 06, 2009): Minister of State for Finance, Revenue, Economic Affairs and Statistics, Hina Rabbani Khar on Tuesday had an in depth exchange of views with Karin Kortman, Parliamentary State Secretary, Federal Ministry for Economic Co-operation and Development, Germany and other members of her delegation attending the ADB meeting. |
Babar Awan helps develop his native town ISLAMABAD (May 06, 2009): Federal Minister for Parliamentary Affairs, Dr Babar Awan has said that multi sectoral development projects have been approved for his native town Hothla, Tehsil Kahota. He said this while chairing a meeting to review the pace of development projects, at the residence of former Vice Chairman, District Council Rawalpindi, Raja Mazhar on Monday. |
Ill-planned Sindh uplift schemes: millions of rupees allocations likely to lapse KARACHI (May 06, 2009): Millions of rupees, which were earmarked by Sindh government for various ill-planned development schemes during the outgoing fiscal year 2008-09, are likely to be lapsed. According to sources the provincial government had allocated at least Rs 1995 million for the improvement of different sectors in budget 2008-09, but due to inefficiency of the concerned authorities in different departments the budgeted amount was still lying unused. |
LCCI becomes first chamber to have full banking facility LAHORE (May 06, 2009): Lahore Chamber of Commerce and Industry (LCCI) on Tuesday became the first chamber in the country to have a full-fledged banking facility for its members within the chamber's premises. Now all the membership-related transactions would be carried out through the banking channel against the previous practice through which the LCCI Membership Department was responsible for maintaining cash and data of enrolled members. |
Traders' delegation meets KCCI president
KARACHI (May 06, 2009): A delegation of Fruit and Vegetable Joint Action Committee headed by the Vice Chairman, All Pakistan Fruit and Vegetable Exporters, Importers and Merchants Association, Abdul Khaliq Yousuf called on the President KCCI, Anjum Nisar. The delegation discussed various problems faced by the traders of new sabzi mandi with particular reference to the Charter of Demands put by the Joint Action Committee before the higher authorities of the Government of Sindh
NWFP government orders to reopen mines in Sherwan area
ABBOTTABAD (May 06, 2009): NWFP Government has ordered to reopen the mines of soft soap in Sherwan area of district Abbottabad besides establishing one hospital at Pind Kargu Khan and executing one big water supply scheme costing Rs 6 million.
Nine percent decline in cement exports in one month ISLAMABAD (May 06, 2009): Pakistan's cement industry, which pocketed windfall profits in previous years, is claiming that its exports declined by 9 percent in April as compared to March 2009. The All Pakistan Cement Manufacturers Association (APCMA) is already in hot pursuit of fiscal incentives in the 2009-10 federal budget with the argument that it would collapse if the government did not extend a rescue package to it. |
833 percent growth in cement sector July-March profits KARACHI (May 06, 2009): The cumulative profit of listed cement sector companies increased to Rs 3.7 billion in the nine months of FY09 depicting a massive growth of 833 percent over the corresponding period in FY08 of Rs 395 million. |
Shipping Intelligence KARACHI (May 06, 2009): Karachi Shipping Intelligence report incorporating changes till 7 am on Tuesday (May 05, 2009). |
Etihad to unveil new first class at ATM KARACHI (May 06, 2009): Etihad Airways, the national airline of the United Arab Emirates, will unveil for the first time its new first class at this year's Arabian Travel Market (ATM), which takes place between Tuesday and Friday at the Dubai International Convention and Exhibition Center, says a press release. |
Professionals forecast slow recovery for world economy: survey KARACHI (May 06, 2009): Finance professionals are forecasting a slow recovery for the world economy, according to new research published on Tuesday by the Association of Certified Chartered Accountants (Acca) in its first Global Economic Conditions survey. The survey of 805 Acca members from 80 countries world-wide warns of a slow and credit-constrained recovery, which might threaten some of the world's leading economies with stagnation. |
FDI declines by eight percent
ISLAMABAD (May 05, 2009): Foreign Direct Investment (FDI) has declined by eight per cent during the first eight months of current fiscal to $3.0421 billion against $3.306 billion in the same period of last year, according to Ministry of Finance's "Review of Economic Situation"
NWFP abolishes provincial economic commission
PESHAWAR(May 06, 2009): The government of NWFP on Tuesday abolished the Provincial Economic Commission (PEC) saying it has failed to achieve the purpose of its establishment. The decision was taken at a meeting presided over by NWFP Minister for Finance Mohammad Hamayun K
MCCI for long term financing
MULTAN (May 06, 2009): The Multan Chamber of Commerce and Industry (MCCI) has urged the government to issue directives to banks asking them to extend long-term loans to the business community, enabling them to establish labour intensive new industries for creating job and accelerating economic activities in the country. The President, MCCI, Anis Ahmed Sheikh expressed these views on Monday.
KCCI demands survey certificates for five years
KCCI demands survey certificates for five years
KARACHI (May 06, 2009): Karachi Chamber of Commerce and Industry (KCCI) has suggested that survey certificates should be issued for five years.
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