Pakistan Observer

Business

2nd LNG terminal in offing to reinforce energy sector

Islamabad—The second state-of-the-art Liquified Natural Gas (LNG), considered 50 percent cheaper as compared to diesel in power generation, terminal is going to establish at the Port Qasim Karachi for which almost all formalities have been completed. ... Monday, June 29, 2015 Details

HSBC Bank Oman agrees to sell Pakistan business to Meezan Bank

Karachi—HSBC Bank Oman has agreed to sell its banking business in Pakistan to Meezan Bank , a sharia-compliant Pakistani lender, it said on Sunday. The deal, which is subject to regulatory and other approvals, is expected to be completed during the second half of 2015, the bank said in a statement. The business had one branch and gross assets of around $40 million as of March 31, it said. ... Monday, June 29, 2015 Details

Rs31.921b budget presented in GB Assembly

Gilgit—The budget of Gilgit-Baltistan for the next fiscal year with total outlay of above 31.921 billion rupees was presented on Sunday. Chief Minister of Gilgit-Baltistan Hafiz Hafeezur Rehman presented the budget in the Gilgit-Baltistan Legislative Assembly. ... Monday, June 29, 2015 Details

Energy projects to change destiny of people

Lahore—PML-N has initiated a number of energy and development projects in the country and completion of these projects will change the destiny of the people. MPAs Shazia Tariq and Tehseen Fawad said talking to APP on Sunday. They said pragmatic policies of PML-N leadership will get the country rid of power crisis within few years. ... Monday, June 29, 2015 Details

Huawei brings joy with ease

Islamabad—Following the long set trends Huawei brings to its users such technologies which would bring joy along with ease. The most followed fashion for quite long now is taking “Selfies” on all occasions and happenings. With the “Perfect selfie” shooting mode of Huawei P8, the photo object and related beautifying effects can be preset and automatically detect the object to be beautified. ... Monday, June 29, 2015 Details

Broad-based plan for early revival of AJK sick industrial units soon

Mirpur (AJK)—With the coordination of the AJK Chamber of Commerce and Industry, the AJK state government is seriously contemplating to devise an integrated plan for revival of dozens of sick industrial units located in the industrial districts of Mirpur and Bhimbher, official sources said. ... Monday, June 29, 2015 Details

PBIT to provide best facilities to Pan China

Lahore—In pursuance of the vision of Chief Minister Punjab to tackle urbanization and catalyze industrial development to spur economic growth a meeting was arranged by Punjab Board of Investment & Trade (PBIT). ... Monday, June 29, 2015 Details

Poverty and food wastage increasing: UIG Chairman

Islamabad—World population, poverty and wastage of agricultural products have touched alarming proportions which require joint action by world community, a business leader said Sunday. Thirty-three percent of the world’s four billion tonnes of agricultural production never makes it to plate because of weakness of infrastructure, storage facilities, distribution system etc., said Mian Shahid, Chairman of the United International Group. ... Monday, June 29, 2015 Details

Rs77b to be spent on 45 dev schemes of Pakistan Railways

Islamabad—In order to provide cheaper, faster and convenient mode of passengers and freight transport, the government will spend Rs 77 billion on 45 development schemes including doubling of tracks, purchase of new locomotives, wagons, bogeys and up-gradation of signaling system during next fiscal year. ... Monday, June 29, 2015 Details

Pattoki college’s students visit LSE

Lahore—Lahore Stock Exchange Corporate Communications Department (LSE-CCD) here Tuesday arranged a general visit of students of Punjab College of Commerce, Pattoki to the Exchange. The LSE Managing Director and CEO Aftab Ahmed Chaudhry was the chief guest on this occasion. At the event, the LSE-CCD gave a detailed presentation covering all spheres of capital and financial markets. The students were briefly informed about the regulatory framework, market indicators, investment products, financial services & opportunities accessible to investors in Pakistan. ... Wednesday, June 24, 2015 Details

Punjab to offer 25000 tractors to farmers on subsidised rates

Multan—The Punjab govt will offer 25,000 tractors to farmers at subsidized rates with an aim to promote agriculture sector in the province. Assistant director information agriculture Naveed AsmatKohloon said the government would privide subsidy of Rs5b on tractors. ... Wednesday, June 24, 2015 Details

Lint trading remains range-bound in Sindh, Pujab

Karachi—Lint trading in Sindh and Punjab stations remained range-bound on grade issue as major buyers remained on sidelines, traders at Karachi Cotton Association (KCA) said. Increasing demand for all grades in Punjab and Sindh stations kept the physical prices of lint in the comfort zone while KCA kept spot rate unchanged at Rs 5,400 per maund in order to provide support to raw grade sellers for getting better prices, floor brokers said. In Sindh physical buying remained range-bound while some forward deals for a month period changed hands between buyers and sellers at Rs 4,975 per maund to Rs 5,000 per maund, floor brokers said. ... Wednesday, June 24, 2015 Details

Traders demand anti-smuggling measures to boost local industry

Islamabad—Islamabad Chamber of Commerce and Industry has called upon the government to take strong anti-smuggling measures as rising phenomenon of smuggling was undermining the local industry and causing harmful consequences for the national economy. ... Wednesday, June 24, 2015 Details