Pakistan Observer - Busines News

Appearing from Islamabad, Karachi, Lahore, Peshawar, Muzaffarabad & Quetta
Sunday, March 21, 2010, Rabi ul Thani 4, 1431

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Business & Finance

HBFC to help expedite construction activities

Islamabad—Minister for Housing and Works, Rehmatullah Kakar has said that House Building Fiance Cooperation’s (HBFC) financial assistance in housing projects would help speed up ongoing construction activities in order to accomplish the national task at the earliest.

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Spirited role of women key to progress

Staff Reporter

Lahore—The Advisor to Chief Minister Begum Zakia Shahnawaz has said that no country can achieve progress and prosperity without active role of its females. She was speaking at the opening session of two-day spring festival ‘Bahar Rang’ at LCCI here on Saturday. Lahore Chamber of Commerce and Industry (LCCI)’s Standing Committee on Women Resource Center (WRC) organized the event.

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PARC introduces aerobic rice production technology

Islamabad—Pakistan Agriculture Research Council (PARC) has introduced a new technology called Aerobic Rice Production Technology, aiming at conserve water and enhance paddy yield. Chairman PARC Dr.Zafar Altaf told APP that under the technology the paddy crops do not need standing water necessary for the crop but cultivated like wheat and maize crops.

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SCCI expresses concern over changes in PM’s Relief Package

Peshawar—Sarhad Chamber of Commerce and Industry (SCCI) expressed its serious concern over amendments in relief package announced by Prime Minister, Yusuf Raza Gilani as compensation for business community of NWFP for losses it received due to militancy and terrorism.The Sarhad Chamber has also expressed its opposition to proposed plan of implementing Value Added Tax (VAT) and said any survey for expanding Income Tax base would not allowed due to prevailing circumstances in the province.

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FTO to help tax payers against injustice

Amanullah Khan

Karachi —Federal Tax Ombudsman (FTO) Dr. Muhammad Shoaib Suddle said that one of the great innovations in human evolution has been the development of justice sector institutions. The modern nation-state with its complex infrastructure in a fast moving technological age owes its very existence and survival to these institutions, and the institution of the Ombudsman stands out as one such creation that is unique in that it being rapidly embraced worldwide whatever the ideological underpinning of the state.

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WAPDA for optimal use of water resources

Lahore—WAPDA is making all-out efforts for optimal utilization of water and hydropower resources besides executing mega projects in view of rapid increase in water and power requirements in the country. A number of small and medium-sized projects are being initiated for the purpose, said WAPDA Chairman Shakil Durrani during his visit to Kachhi Canal, Naulong and Sukleji Dam projects and Right Bank Outfall Drain (RBOD)-III.

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Govt sends 1890 exhibitors abroad in 2 years

Islamabad—The government has sent 1890 exhibitors abroad to participate in 136 international trade fairs and exhibitions across the world since March 2008 till date. One of the most important marketing tools is participation in international trade fairs and exhibitions and participation provided an excellent opportunity to the exporters to showcase their products to the buyer, hold meetings and negotiate business deals.

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Property tax soars ten times : SCCI

Staff Reporter

Sialkot—Brig. Mohammad saleem Soekarno Station Commander Sialkot Cantt paid a visit to Sialkot Chamber of Commerce & Industry, the President SCCI Mohammad Ishaq Butt discussed with him the problems which the civilian residents are facing particularly the property tax that is raised every year. This year the property tax has been enhanced ten times without assigning any reason.

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FOREX RATES

USA	84.35	84.15
UK	128.60	128.30
Euro	114.91	114.63
Canada	83.08	82.88
Switzerland	79.77	79.58
Australia	77.74	77.55
Sweden	11.85	11.82
Japan	0.9327	0.9305
Norway	14.38	14.34
Singapore	60.46	60.31
Denmark	15.44	15.41
Saudi Arabia	22.49	22.44
Hong Kong	10.87	10.84
China	12.36	12.33
Kuwait	292.52	291.82
Malaysia	25.53	25.47
Newzealand	60.31	60.16
Qatar	23.19	23.13
UAE	22.97	22.91
KR WON	0.0745	0.0743
Thailand	2.611	2.605

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Zahid Malik
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