Business News

National Food & Nutrition Security Policy soon: Mamnoon

Islamabad—President Mamnoon Hussain on Wednesday said a National Food and Nutrition Security Policy was in the making to ensure that all the people of Pakistan have physical and economic access to enough nutritious food for an active and healthy life. The President said the Ministry of National Food Security and Research was in the process of finalizing the policy in consultation with the provincial governments. He was speaking at an event to celebrate the 50 years of the Pak-US cooperation in agriculture and commemorate the 100th anniversary of the Nobel Laureate late Norman E. Borlaug who worked for food production in the world including Pakistan.

Hamza Shahbaz visits Dongfang Electric Corporation in China

Staff Reporter

Lahore—The delegation of young parliamentarians led by Member National Assembly Hamza Shahbaz Sharif visited Dongfang Electric Corporation in Sichuan province of China and met its Vice President Hanzua Kyo. Lakhra Power Project and other projects being completed in Pakistan by Dongfang Electric Corporation were discussed on the occasion.

MCB earns Rs. 8.35b profit during 1st Quarter

Lahore—The Board of Directors of Muslim Commercial Bank Limited met under the Chairmanship of Mian Mohammad Mansha, to review performance of the bank and approve financial statements for the quarter ended March 31, 2014. From financial performance perspective, the operational profitability of the bank depicted an improvement as net interest margin increased by 3% over March 2013.

Askari Bank declares 1st quarter impressive results

Karachi—On the completion of first quarter, the Askari Bank has announced impressive results including a bulky profit amount. The Bank has reported strong growth in all income streams. Net interest income increased by a healthy 16% compared to the corresponding quarter due to growth in lending – advances deposits ratio (ADR) reaching 64%, and an impressive 2% decline in cost of funds.

PCF study indicates areas of potential trade growth with India

Salim Ahmed

Lahore—In light of the recent negotiations taking place between the governments of Pakistan and India on trade normalization, a study conducted by the Pakistan Business Council (PBC) titled “Preliminary analysis of Pakistan and India trade and a viable roadmap for trade liberalization” identifies areas of potential growth opportunities and urges the government of Pakistan to negotiate reciprocal treatment with its Indian counterparts to achieve level playing field in trade on both sides.

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