China to make more investment in energy sector: Shahbaz
Salim AhmedLahore—Punjab Chief Minister Shahbaz Sharif has said that China would further invest in the energy sector of Pakistan to reduce the energy crisis. In a an interview, the Chief Minister said that China would also invest in Pakistan in the construction of Gwadar port, highways, solar energy and wind power projects; he hoped these projects would make the country self-sufficient in power. He hoped that China’s investment would boost the employment opportunities in Pakistan which would further magnify the development and stability of the country.
Bosan stresses formulating National Rangeland PolicyIslamabad—Sikandar Hayat Khan Bosan Federal Minister for National Food Security & Research said on Thursday that there was an immediate need to formulate a unified rangeland policy both at national and provincial level for effective management of rangeland resources in the country.
Turk Cell delegation shows interest in spectrum auctionIslamabad—A high level Turk Cell delegation met the Minister of State for IT & Telecom Ms Anusha Rahman Khan here on Thursday. The delegation’s visit to Pakistan was a follow up to Turk Cell’s meetings with the Minister of state on the sidelines of the recently concluded Mobile World Congress held in Barcelona, Spain.
ABC seeks friendly policies to attract foreign investment
Amanullah KhanKarachi—The American Business Council of Pakistan (ABC) has urged the Government to formulate business friendly policies, improve the law and order situation and resolve the energy crisis to attract much needed foreign investment in different business segments of the country. After the first ABC CEO Roundtable meeting of CY2014 where business leaders discussed the performance of their companies in CY2013 and the prevailing issues, ABC the largest single country investor group in Pakistan, reinforced its commitment to Pakistan while urging the government to resolve the issues which are detrimental to growth.
Standard Chartered Bank profit increases by 77pc
Staff ReporterKarachi—Standard Chartered Bank (Pakistan) Limited has announced Bank’s Profit (before tax) grown by 77 per cent to Rs 16.1 billion in 2013, with Earnings Per Share up at Rs 2.72 per share from Rs 1.53 per share in 2012. Continued strict focus on recoveries and conservative credit policies led to the reversal of provisioning this year. With a strong cost discipline, administrative expenses (excluding a reversal in executive and general administrative expenses) increased by only 1 percent which is well below the ongoing inflation in the country.
South Africa seeking economic ties with Pakistan
Amanullah KhanKarachi—The High Commissioner of South Africa to Pakistan, Mr. Mpendulo Kumalo has said that South Africa is focusing on enhancing economic relation with Pakistan as much scope for improving economic relationship exists between the two countries. The government of South Africa wants to increase exports from South Africa to Pakistan and to promote South Africa as a safe environment for investment from Pakistan. “The ultimate goal is to increase the level of total bilateral trade between the two friendly countries”, he added while speaking at a meeting during his visit to Karachi Chamber of Commerce and Industry (KCCI) on Thursday.
PO 25th Anniversary