Saturday, May 19, 2012, Jumada Al-Akhir 28, 1433
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Business & Finance
US committed to Pakistan economic development: CGSalim Ahmed Lahore—US Consul General Lahore Nina Fite has said that United States is committed to promote the economic development of Pakistan. One of important element of this commitment is US support to local farmers with programmes to build their business capacity and generate higher incomes.
These views were expressed by her at the concluding session of a three-day training programme ‘GlobalGAP Train the Trainer Programme’ organized by Agribusiness Support Fund under USAID’s Agribusiness Project. Thirty people across the livestock sector participated in the training held in collaboration with M/s FoodPlus GmbH Germany. The program trained the participants in GlobalGAP certification, a standard for dairy and meat exportation required by many European and international markets.
Unreasonable hike in utility prices harmful to economyAmanullah Khan Karachi—Trade and industry has strongly criticized government policies to ruin country’s economy by raising utilities prices. In a statement, the Patron In-Chief Korangi Association of Trade and Industry (KATI) S M Muneer, Chairman Ehtesham Uddin, President All Karachi Industrial Alliance, Mian Zahid Hussain and Vice Chairmen, Hasham A Razzak and Tariq Malik and Chairman Press and Media Standing Committee, Syed Johar Ali Qandhari while rejecting 16 per cent increase in electricity tariff said that it would badly affect economic and industrial activities in the country resulting in massive shut down of industrial units and creating unemployment Government would have to chalk out a plan to convert oil-based power plants to coal-based plants, Muneer said.
UK companies interested in Pakistan power projectsStaff Reporter Lahore—Shehryar Khan, additional deputy head of mission, British high commission Karachi has said that United Kingdom (UK) companies of British community are interested to invest in power sector of Pakistan and ready to take on the power projects during his meeting with MD NTDCL Mr Rasul Khan Mahsud, here at WAPDA House Lahore, today.
Talking about the prospects of investment in power sector, Mr Rasul Khan Mahsud said that NTDCL is the sole Govt company engaged in the transmission and despatch of all power within Pakistan and is also responsible for enhancement of transmission system through new projects and would always prefer foreign investment in power sector of Pakistan.
Pakistan needs to re-orient its economy on green discourseStaff Reporter Islamabad—Green economy is vital for inclusive and sustainable growth. Eminent international experts and senior Pakistani officials and business representatives unanimously said it at the opening day of two-day ‘National consultation on green economy’ jointly organized by Sustainable Development Policy Institute (SDPI), One UN Joint Programme on Environment, Ministry of Climate Change, Heinrich Boll Stiftung (HBS) and Lead Pakistan here on Friday.
LCCI worried as smuggled plastic chemicals flood marketsStaff Reporter Lahore—The Lahore Chamber of Commerce and Industry has urged the government to help stop smuggling of Plastic Moulding Compound and other chemicals used in plasticizer industry that have flooded the markets and causing a loss of billions of Rupees to the exchequer.
The LCCI President Irfan Qaiser Sheikh after having a meeting with a delegation of businessmen belonging to plastic chemical business, said on Thursday that the LCCI had twice invited the attention of the authorities concerned towards the fast spreading menace of smuggling but no action has been taken so far and the situation has turned so bad that genuine businessmen are unable to continue with their businesses as cheaper smuggled low quality chemicals are of great attraction to the buyers.
ISE-10 stays bearish trendStaff Reporter Islamabad—Islamabad Stock Exchange (ISE-10) here on Friday witnessed bearish trend as the index was down by 44.82 points to close at 2752.87 as compared to the previous day’s trading.
Stock Analyst, Ismail Iqbal Pvt Ltd, Jeewan told media that the technical correction was seemed after consecutive bullish trend in the local stocks markets.
Joint strategy stressed to boost Pak-Afghan tradeStaff Reporter Peshawar—At the concluding session of two-day National Conference on Afghan Transit Trade, the experts and analysts have called for adopting a joint strategy to boost up trade relations between Afghanistan and Pakistan, which could be beneficial for economic prosperity and improvement of trade activities in the region.
The two-day national conference titled “Pak Afghan Transit Trade its Dynamics, Challenges and Prospects” held under auspices of Department of Political Science, University of Peshawar in collaboration with Higher Education Commission, Islamabad, the Bank of Khyber, and National Bank of Pakistan.
FPCCI team off to S Arabia for trade talksAmanullah Khan Karachi—A high powered Trade Delegation under the leadership of Haji Fazal Kadir Khan Sherani, President, the Federation of Pakistan Chambers of Commerce and Industry (FPCCI) left for Kingdom of Saudi Arabia today with the aim to explore the opportunities and enhance the bilateral trade between Pakistan and Kingdom of Saudi Arabia, the two brotherly countries.
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