Tuesday, May 01, 2012, Jumada Al-Akhir 10, 1433
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Business & Finance
Finance Minister reviews proposals of TRCGStaff Reporter Islamabad—The Tax Reforms Coordination Group (TRCG) met in FBR today, under the chairmanship of Federal Minister for Finance Dr. Abdul Hafeez Sheikh.
Chairman FBR Mr. Mumtaz Haider Rizvi, in his opening remarks informed the Minister about the discussions so far held between the TRCG and FBR. Exclusive discussions on policies and strategies to improve the tax policy with a view to increase the revenue were held alongwith presentations by FBR. Budget proposals for the upcoming budget to be presented in May 2012 were extensively discussed and strategized.
Indians can invest $20-50b in Pakistan: PIBCStaff Reporter Lahore—Indian investors have shown willingness to invest $ 20 to 50 billion in Pakistan in mining, petroleum, energy, power and infrastructure projects.
Talking to media here Tuesday, the Chairman Pak-India Business Council (PIBC) Noor Muhammad Kasuri said that upon his arrival from India after a fortnight visit and having meetings with members of Indian business community.
Kasuri said that there are several big investors groups in India and they were interested to explore opportunities in Pakistan which is in their neighbourhood instead of other parts of the world.
Indians can invest $20-50b in Pakistan: PIBCStaff Reporter Lahore—Indian investors have shown willingness to invest $ 20 to 50 billion in Pakistan in mining, petroleum, energy, power and infrastructure projects.
Talking to media here Tuesday, the Chairman Pak-India Business Council (PIBC) Noor Muhammad Kasuri said that upon his arrival from India after a fortnight visit and having meetings with members of Indian business community.
Kasuri said that there are several big investors groups in India and they were interested to explore opportunities in Pakistan which is in their neighbourhood instead of other parts of the world.
SBP providing fast services through websiteStaff Reporter Faisalabad—State Bank of Pakistan (SBP) on its website is providing speedy and quality services to facilitate the business community as well as account holders besides resolving their problems at their doorsteps.
This was stated by Syed Imran Ali, Director Consumer Protection SBP Faisalabad while addressing a meeting at Faisalabad Chamber of Commerce and Industry (FCCI) here on Monday.
Inefficient thermal plants adding to problemsStaff Reporter Lahore—The government owned obsolete thermal power plants are further aggravating the power crisis by consuming excess fuel, sources said, while stressing the use of efficient thermal plants for optimum power generation.
The independent power producers having efficient thermal plants are utilizing these at less than half of their capacity due to the circular debt, sources said. The vicious circle of circular debt leads to increase in cost of generation of Independent Power Producers (IPPs), they said.
MoU signed
RCCI, CCC for promotion of bilateral tradeColombo—Following launch of the Grand Made in Pakistan - Single country exhibition in Colombo; Pakistan’s Rawalpindi Chamber of Commerce and Industry (RCCI) signed a Memorandum of understanding (MoU) with the Ceylon Chamber of Commerce (CCC) of Srilanka under the patronage of the High Commission of Pakistan in Srilanka on 26th April, 2012. The MoU aims to encourage mutual understanding and promote business and friendly relations between the industrial, trade and business communities of Pakistan and Sri Lanka, says a press release.Sindh holds potential to become economic, power hubStaff Reporter Karachi—Sindh is a resource rich province of Pakistan with every potential to become economic and power hub, Chief Minister of Sindh, Syed Qaim Ali Shah was quoted to have said during a press conference arranged at the residence of Counsel General of UAE.
According to a press release issued on Tuesday a high powered official delegation headed by Syed Qaim Ali Shah is attending the second annual investment conference scheduled being opened in Dubai on Tuesday.
EU offers more concessionsStaff Reporter Islamabad—The European Union has offered three more items for their inclusion in the earlier announced seven items for tariff rated quotas (TRQs) under a trade package offering duty and tariff concessions for Pakistan.
“Ethyl alcohol, woven fabric, and toilet linen will be included in the list of earlier selected seven items for tariff rated quotas likely to be announced this year,” said an official.
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