Pakistan appreciated for implementing regulatory reforms for doing business
Staff ReporterIslamabad—Pakistan is among the four out of eight economies in South Asia which implemented at least one regulatory reform, making it easier for local entrepreneurs to do business in 2013-14, according to a new World Bank Group report. According to the World Bank report Doing Business 2015: Going Beyond Efficiency, three countries-Bangladesh, Nepal, and Pakistan-focused their efforts on adopting modern electronic systems to facilitate business activity. Bangladesh and Pakistan made trading across borders easier by implementing computerized systems that allow web-based submission of documents, reducing the time to export and import.
Faisal Mushtaq named among ‘500 Influential Muslims’ of the world
Observer ReportIslamabad—As the sixth annual issue of the Muslim 500: recognizing the World’s 500 most Influential Muslims is published globally, It counts 1.7 billion Muslims in the world today, making up approximately 23% of the world’s population, or one-fifth of mankind. The Influential 500 Muslims as well as being citizens of their respective countries, they also have a sense of belonging to the ‘ummah’, the worldwide Muslim community. This publication sets out to ascertain the influence some Muslims have on their community, or on behalf of the community on their country. The publication defines Influence is: any person who has the power; be it cultural, social, ideological, political or academic to make a change that will have a significant impact on the Muslim world.
Thar coal power plant likely to be operational by 2018
Amanullaha KhanKarachi—The commercial production from Thar coal fired power generation plant would be ready by June 2018, provided the financial closure is completed by March 2015, said the Chief Executive Officer of Sindh Engro Mining Company (SECMC) Shamsuddin Ahmed Sheikh. “We are the biggest investors in energy and coal mining with an investment of US $ 2 billion in the country”, Sheikh told a group of senior journalists representing various newspapers and news agencies during their visit to Tharparkar Coal mines the other day.
Bank Alfalah declares impressive results, registers 28pc profit hike
Staff ReporterKarachi—Bank Alfalah’s Profit before tax has increased by 28% to Rs. 6.129 billion in the nine months period ended September 30, 2014 from earnings recorded in same period last year. Profit after tax was recorded at Rs. 4.015 billion in September 2014 as compared to Rs. 3.318 billion earned up to September 2013. Earnings per Share for the period have also improved to Rs. 2.98 in September 2014 as compared to Rs. 2.46 reported in September last year.