Pakistan Observer

Business

PSQCA, PFA to establish joint working group

Karachi—A Joint working group will established among the Pakistan Standards & Quality Control Authority (PSQCA) and Provincial Food Authority (PFA) (PG to ensure Quality of Food products in the country. The decision was taken in a meeting chaired by the Federal Minister for Science & Technology Mr. Rana Tanveer Hussain at Ministry of Science & Technology on Tuesday. ... Tuesday, August 04, 2015 Details

Engro Foundation trains 12,000 farmers

Islamabad—Engro Foundation, the Corporate Social Responsibility (CSR) arm of Engro Corporation, along with Engro Eximp Agri products, the Company’s rice processing business, has successfully concluded its System Productivity Innovative Rice Trainings (SPIRiT) project 12,000 small farmers have been trained. The project was a first of its kind training program that has successfully introduced innovative and more effective rice-wheat farming techniques and technologies to smallholder farmers in five districts of Punjab, says a statement issued by the Corporation here Monday. ... Tuesday, August 04, 2015 Details

APAT sends open letter to Khalid Pervaiz

Lahore—All Pakistan Anjuman-e-Tajiran has sent an open letter to Khalid Pervaiz, urging him to call off his strike because the unsuccessful strike will damage the cause of traders’ community, who have already observed a successful shutter down from Khyber to Karachi on Aug 1. Addressing a press conference at Lahore press club on Monday the leadership of APAT including president Ajmal Baloch, chairman Haji Shafiq, central general secretary Naeem Mir said they would not be the part of the strike on August 5 called by Khalid Perviaz group. ... Tuesday, August 04, 2015 Details

Iran approves 9 HWT plants to boost Veggies, fruits import

Islamabad—Iran has approved some nine newly established Hot Water Treatment (HWT) plants to boost the imports of vegetables and fruits from Pakistan. According to Dr Mubarik, Head of Department of Plant Protection (DPP), Iran had lodged complaint through its ambassador about the substandard quality of vegetables and fruits being exported from Pakistan. ... Tuesday, August 04, 2015 Details

MCB signs MoU with Spirit School

Lahore—MCB Bank Limited and The Spirit School (project of Superior Group) signed a memorandum of understanding at MCB House, Lahore. The ceremony was attended by the senior team members from both Groups. Mr. Zargham Khan Durrani (Head of Retail Banking Group - North, MCB) and Chaudhry Abdul Khaliq (Director Operations, The Spirit Schools) were the distinguished signatories of this MoU. This initiative aims at benefiting the society at large besides serving the mutual interests of both organizations. ... Tuesday, August 04, 2015 Details

Pakistani exporters attend 75 foreign expos in two years

Islamabad—To boost country’s exports, Trade Development Authority of Pakistan (TDAP) has ensured participation of Pakistani exporters in 75 exhibitions during last two years. The Authority arranged 37 exhibitions in 2013-14 in coordination with relevant consulates and trade officers while number of such endeavours were 38 in 2014-15 across the globe, revealed Commerce Division on Monday. According to Commerce Division, it is working through Pakistani Embassies and Consulates in 37 countries engaging 55 trade officers. ... Tuesday, August 04, 2015 Details

AGPR asks NBP to ensure increased pension payment

Islamabad—The Accountant General of Pakistan Revenues (AGPR) has written to President National Bank of Pakistan (NBP) to ensure revision of rates of orderly allowance and special additional pension increased in the Budget 2015-16 for the civil pensioners of BPS-20 to BPS-22. In a letter the AGPR mentioned that necessary instruction might be issued to all branches of NBP dealing with pension payment of the federal government pensioners to grant this increase. ... Tuesday, August 04, 2015 Details

Cement export to India shows 2.82pc growth

Lahore—The cement export to India has shown a marginal growth of 2.82 percent as the volume increased to 696,417 tons from 677,306 tons during the FY 13-14. The overall cement exports during June 15 were 552,000 tons against 688,000 tons during June 14, showing a massive decline of 19.77pc. Total despatches during June 15 were 3.266 million tons as compared to 3.225 million tons during the same month last year, showing a marginal increase of 1.27pc, mainly affected due to the substantial downfall in exports. Experts said that exports from the country declined by 11.58pc to 7.2 million tons, as compared to exports during the last fiscal year, which were 8.14 million tons. ... Tuesday, August 04, 2015 Details

Shahbaz seeks WB assistance to construct small dams

Lahore/Islamabad—A high level delegation led by Managing Director and Chief Operating Officer World Bank Group Ms. Sri Mulyani Indrawati called on Punjab Chief Minister Muhammad Shehbaz Sharif. Vice President of World Bank for South Asian Region Ms. Annette Dixon was also present on the occasion. Matters of mutual interest and promotion of cooperation in education, health, energy, development of skilled manpower, disaster management and other sectors were discussed in the meeting. ... Tuesday, August 04, 2015 Details

CPI based inflation witnesses nominal increase

Islamabad—Consumer Price Index (CPI) based inflation during month of July, 2015 registered nominal increase of 0.4 percent as compared to increase of 0.6 percent during previous month and 1.7 percent during corresponding month of last year. CPI inflation, general increased by 1.8 percent on year on year basis in July, 2015 as compared to 3.2 percent in the previous months and by 7.9 percent in July, 2014, according the data of Pakistan Bureau of Statistics. ... Tuesday, August 04, 2015 Details

MoC to establish GSP Plus Support Mechanism Unit

Islamabad—The Ministry of Commerce (MoC) would establish Generalized System of Preference (GSP) Plus Support Mechanism Unit to partner with the private sector and Non-Governmental Organizations to project the initiatives taken for better human rights record. The ministry would also train officials in the provincial law, human rights, minorities, women rights and other relevant departments to compile achievements made at the legislative front in the human rights. ... Tuesday, August 04, 2015 Details

Securities Exchange notifies Bancassurance Regulations

Islamabad—The Securities and Exchange Commission of Pakistan (SECP), with the approval of the SEC Policy Board, has notified the 2015 Bancassurance Regulations here on Monday. With implementation of the regulations, it is envisaged that long- term interests of three primary stakeholders of life insurance business, including policyholders, insurer, and agent (banks in this case) shall be more aligned. ... Tuesday, August 04, 2015 Details

Pacific Rim trade ministers fail to clinch deal

Lahaina, Hawaii—Pacific Rim trade ministers failed to clinch a deal to free up trade between a dozen nations after a dispute flared up over auto trade between Japan and North America, New Zealand dug in over dairy trade and no agreement was reached on monopoly periods for next-generation drugs. Trade ministers from the 12 nations negotiating the Trans-Pacific Partnership, which would stretch from Japan to Chile and cover 40 percent of the world economy, fell just short of a deal at talks on the Hawaiian island of Maui but were confident an agreement was within reach. ... Monday, August 03, 2015 Details

GCC’s $86b infrastructure investments augur well for materials handling sector

Jeddah—Multi-billion dollar investments in GCC-wide commercial and civil infrastructure projects is having a positive impact on the materials handling sector, as the region’s dedicated logistics and warehousing trade show reaches full capacity ahead of its September opening in Dubai. According to industry reports, the Gulf region awarded $86 billion worth of infrastructure projects in 2014, 78 per cent over 2013, with the increased investments fuelling demand for providers of logistics, transportation, materials handling, and supply chain solutions. ... Monday, August 03, 2015 Details