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- 3rd Food, Agri & Livestock Asia Exhibition
- 5th Health ASIA 2009 Exhibition & Conference
- Merchandizing & Promotions
- Quick Deployment
- Search Engine Optimization
- 8th Information Tecnology Commerce Network Asia (ITCN)
- Frequency: Annual
Exhibition Dates & Timings:
August 11~13, 2008 at 10:00 am - 8:00 pm.
Exhibit Area: Over 9000 sqm
No. of Participating Countries: 30
Major Participating Countries: Canada, China, France, Finland, Germany, Hong Kong, India, Japan, Korea, Malaysia, Netherlands, Russia, Singapore, Taiwan, U.A.E, U.K, USA
Expected no of trade visitors: Over 45,000
- 8th PrintPak Exhibition 2008
- Syed Athar Jawed Saifi
Director (Event & Conferences)
M/s Event and Conference International (Pvt.) Ltd.
FL 11/13, Block 13-A, Gulshan-e-Iqbal
Opp. Karachi expo centre, Karachi
Email: marketing@eventandconference.com.pk
- 5th Health ASIA 2009 Exhibition & Conference
- International Exhibition & Conferences
The Exhibition would serve as a comprehensive showcase of the latest in technology, medical & diagnostic equipment and machines as well as allied services, while providing investors with a definite outlook of the regional health sector and an opportunity to meet their prospective counterparts and business partners.
- Karachi
- Karachi Port operations
- KARACHI, July 29: Ten ships carrying containers and to load cement and clinker are due to arrive at the outer anchorage on Wednesday, according to KPT sources.
Six ships, Cosco Lian Yun Gang Sinar Bintan, St. Irene to unload and load containers, Sargodha to offload and load general cargo and Oriental Marguerite and Bow Cheetah, tankers, were berthed after the departure of as many.
The departing ships were led by Cosco Karachi, Y.M. Inauguration, Saigon Express, St Irene, Gulf Tiger and Adriatic Arrow, while Cosco Yun Gang, Sinar Bintan, Bow Cheetah, Bunga Teratai-3, Oriental Marguerite, Lalazar, Lucky Man and Bulk Arrow are due to sail out on Wednesday.
A total tonnage of 130,000 tons comprising 60,048 tons of export cargo and 70,349 tons of import tonnage was handled on Tuesday.
The following ships are due on Wednesday: Sima Sehba, Hansa Liberty, Harmony, APL Shenzhen, Cape Negro, Hyundai Admiral and Oel Transworld with containers, Jaikur-2 and Devi Glory-1 to load cement and clinker.
karachi, july 29: ten ships carrying containers and to load cement and clinker are due to ar- rive at the outer anchorage on wednesday, according to kpt sources. six ships, cosco lian yun gang sinar bintan, st. irene to unload and load containers, sargodha to offload and load general cargo and oriental marguerite and bow cheetah, tankers, were berthed after the departure of as many. the departing ships were led by cosco karachi, y.m. inauguration, saigon express, st irene, gulf
- Karachi:
- Port Qasim
- KARACHI, July 29: Two ships scheduled to load/offload containers and diesel oil were accommodated berths during the last 24 hours, said a PQA press release on Tuesday.
Meanwhile, three more ships carrying containers and coke also arrived at the outer anchorage.
Seven ships, Maersk Deva, Abbud-G, Santa Fe, Monique, Ocean Beauty, MCT Stock and Ice Base, were busy in loading and unloading cement, rice, chemicals, iron ore, palm oil and diesel oil.
A cargo volume of 81,628 metric tons comprising 67,869 tons of import and 13,759 tons of export tonnage was handled.
Maersk Deva, Santa Fe and MeT Stock Horn sailed out while Ice Base and Monique were expected to depart on Tuesday
- HONG KONG
- Asian stocks slide as financial crisis deepens
- HONG KONG, July 29: Asian stocks fell around 2 per cent on Tuesday, after Merrill Lynch, the third-largest US investment bank, announced a $5.7 billion write-down related to bad debt, draining confidence in the shaky financial sector.
Coming a day after one of Australia’s top banks said it would write down more than $1 billion in credit-related losses, Merrill’s news increased fears that a year-old financial crisis that has battered markets has further to run.
Worries that financial sector troubles will further undermine the global economy kept the US dollar trading below Monday’s one-month high against the yen.
Gold prices rose for a fourth day and Japanese government bonds climbed, pushing the benchmark 10-year yield down to the lowest level in three months.
- LONDON
- Oil Rises to Near $123
- LONDON, July 30: Oil rebounded from lows to near $123 a barrel on Wednesday after US government data showed a drop in gasoline stocks last week, surprising analysts who had expected an increase.
The US Energy Information Administration said gasoline inventories fell by 3.5 million barrels compared with forecasts of a 200,000 barrel build, as US gasoline production dropped and imports fell.
The report offers the bulls more potential than they have had over the last few weeks, said Rob Kurzatkowski, futures analyst at OptionsXpress in Chicago.
US crude rose 83 cents to $123.02 by 1519 GMT, recovering from a low of $120.80 earlier in the session and well clear of a low of $120.42 on Tuesday, the lowest since May 6.
- WASHINGTON
- Investment Invited For Thar Coal Projects
- WASHINGTON, July 30: Sindh Chief Minister Syed Qaim Ali Shah has invited the international companies to make investment in coal-fired power plants and other projects in the province assuring them of full support of his government.
"I will extend warm welcome to all those interested in having a look at Sindh’s coal resources, especially the desert of Thar and its coal reserves for establishing power generation plants or for other purposes."
"As chief executive of the province, I extend my full support and assistance to prospective investors in coal resources of Sindh. We will also provide full access to all data and information available with provincial concerned departments," he said in his opening address at a roundtable conference at the office of the World Bank here on Tuesday.
- KARACHI
- Air ticketing Accord
- KARACHI, July 30: Pakistan International Airlines (PIA) and Crescent Commercial Bank (CCBL), a subsidiary of Samba Financial Group, KSA, signed an agreement for installation of PIA�s first-ever e-ticketing kiosk at the ATM lobby of CCBL branch at Clifton.
A ceremony was held at the PIA head office here on Wednesday in which an agreement was signed by PIA’s Managing Director Capt Mohammed Aijaz Haroon and CCBL’s President and CEO Tawfiq A Hussain.
- Karachi:
- KCCI demands PTCL to resolve its internal issues
- Karachi Chamber of Commerce & Industry demands Government and PTCL management to resolve its internal issues which is causing more problems for business community.
The business activities have already been badly affected due to frequent increase in prices of petroleum and essential foods items and unstable law and order situation. Necessary utilities providers particularly PTCL have not been performing their duties within the country have compelled it to face additional challenges. Its has hampered to utilize our communication resources to sustain foreign partners and stakeholders as well as local business. Moreover, in recent monsoon, communication system of PTCL has also badly suffered and no corrective measures have so far been taken.
Pakistan Telecommunication Company Limited (PTCL) with its management disturbance after privatization, its staff is reluctant to perform their duties. Due to recent two weeks strike by PTCL workers, business community has faced business losses. 90% of business activities are done through landline telephones and despite complaints lodged by consumers in all exchanges of Karachi, PTCL management has not yet been able to resolve their internal issues resulting, businesses are suffering badly. Therefore it is stressed that PTCL should take immediate action to provide the uninterrupted communication facilities to its consumers on warfooting basis.
- Karachi
- SINDH Industrial Estate Of Northern Bypass scheme
- SINDH Industrial Estate of Northern Bypass scheme shall Play a Vital Role In The Development of Karachi.
Mr. Shamim Ahmed Shamsi, President KCCI in a press release congratulated the Chief Minister Sindh, Syed Qaim Ali Shah, in respect of establishing Sindh Industrial Estate at Northern Bypass Scheme, demanded extension of time period upto 30th September 2008 for documentation formalities.
He said that after lapse of one year of balloting of industrial plots, the successful applicants have neither received allotment letter nor installment schedule despite their constant follow up with the concerned officials. He referred the advertisement appeared in the press that successful applicants would received allotment letters on their respective address and date for completion of documentation formalities was fixed as 30th July, 2008 but it is regretted that concerned officials are refusing to accept the documents and installments causing hurdles to the investors.
- Karachi
- Prices of Ghee, Oil Decline
- The prices of ghee and cooking oil in the local market have fallen after palm olien rates declined in international market. However, the producers of branded ghee and oil have not reduced their rates.
The price of 16 kg ghee and cooking oil tin plunged to Rs1,950 from Rs2,100 in Punjab two weeks ago.
In Karachi, the rate of 16 kg ghee tin is quoted at Rs1,820 as compared to Rs1,900 on Tuesday.
The palm olien rate fell to $1,000 per ton from $1,200 two weeks back.
Its price in local market also dropped to Rs3,850 per maund (37.25 kg) from Rs4,200 in the last two weeks.
The branded ghee and cooking oil producers also did not pass the impact of the falling palm olien prices in the world market to consumers in March this year.
- London
- Sharia Banking May Touch $1trn In 2 Years
- The Sharia finance and banking industry is one of the fastest growing markets in the world and is estimated to be worth more than US$1 trillion in the next 2 years, according to the UK-based Securities & Investment Institute.
Unaffected by the subprime crisis, projections suggest that this market will grow by 15 per cent per year over the next decade and will account for 60 per cent of the savings of the world’s 1.2 billion Muslim community, in that same period.
The Securities & Investment Institute (SII), the leading financial services educational body in the area of Islamic finance, first announced the development of its benchmark Islamic Finance Qualification (IFQ) in 2005.
This is said to have captivated global interest, and last year the IFQ was sat by 285 candidates around the world. SII has designated Singapore as its first choice for the regional launch of the IFQ.
- Islamabad
- Sept-Oct Sell-Off Plan Finalized
- Minister for Privatization, Investment and Finance Syed Naveed Qamar on Wednesday directed the Privatization Commission (PC) to finalize the schedule for disinvesting various public sector entities during September-October 2008.
He presided over the PC meeting which also decided to complete the necessary documentation, listing process, regulatory approvals and international marketing for the Global Depository Receipts (GDR) of Kot Addu Power Company (Kapco) by October 2008.
A PC official told Dawn that initially 10 to 15 per cent shares of Kapco will be offloaded in the international capital market through GDR.
He said that the meeting also decided to complete the internal process of privatizing 20 small transactions. However, he said that bigger transactions would be brought in the market after the improvement of overall security situation across the country.
- Islamabad
- Issuance of bogus refunds: senior income tax officials' gang busted
- The Directorate-General of Intelligence and Investigation of FBR has busted an organised gang of senior tax officials of Karachi, who issued bogus income tax refunds to unscrupulous businessmen, who used names of advertising agencies/media companies on the basis of illegal 'tax deduction certificates'.
- Islamabad
- Ban on import of canola seed: move to favour close relative of federal advisor
- In a bid to provide a golden chance to well connected importers to make up the loss, the Ministry of Industries and Production is all set to move a summary for the Economic Co-ordination Committee (ECC) suggesting ban on import of canola seed.
- Islamabad
- Station-owners to face authorities today: defying government on CNG prices
- The compressed natural gas (CNG) station-owners are going to face the authorities here on August 18 (Monday) on defying the government on the issue of CNG prices. Finance Minister Syed Naveed Qamar had taken serious notice of overcharging of CNG prices by the station owners in the Economic Monitoring Committee (EMC) meeting, held here on August 15.
- Karachi
- Body formed to evaluate Thar coal reserves
- Sindh Chief Minister Syed Qaim Ali Shah on Sunday constituted a four-member committee for evaluation of reserves of coal in Thar area. He formed the body at the first meeting of the Sindh Coal and Energy Board (SCEB), chaired by him at the Chief Minister House here.
- Islamabad
- Charge sheet finalised: Sherry
- Information Minister Sherry Rehman said on Sunday that draft committee has finalised charge-sheet for impeachment of President Pervez Musharraf, as the PPP said it would not try the President under Article 6 of the Constitution for treason.
- ISLAMABAD
- Cutting down PSDP by Rs 100 billion: Planning Commission, finance at loggerheads
- The Planning Commission and the Finance Ministry are on a collision course over the announcement by the Finance Minister Naveed Qamar that the Public Sector Development Programme (PSDP) would be slashed by Rs 100 billion; the controversy is likely to continue.
- LAHORE
- Pakistani exporters team leaves for Sri Lanka
- A delegation of the leading exporters and Federation of Pakistan Chamber of Commerce and Industry (FPCCI) Sunday left for Sri Lanka to participate in the 3-day 8th Saarc Chambers of Commerce and Industry trade fair being held in Colombo from August 28. FPCCI president Tanvir Ahmad Sheikh told APP on Sunday that leading Pakistani exporters would establish their stalls at the fair to attract foreign investors.
- PESHAWAR
- Call for comprehensive development package for Fata
- The participants of the Benazir Democracy Institute's (BDI) workshop on Mainstreaming Fata has called for preparing a comprehensive package covering both constitutional and developmental aspects of the Federally Administered Tribal Area (Fata).
- KARACHI
- Conformity Assessment Certificate from PSQCA must for Imports
- All imported consignments, before customs clearance, would compulsorily need 'Conformity Assessment Certificates' (CAC) to be issued by Pakistan Standards and Quality Control Authority (PSQCA). Before releasing the consignment, customs would ask the importer for CAC, as required under PSQCA Act 1996.
- LAHORE
- Saarc CCI 44th Executive Committee Meeting in Colombo on August 27
- A high level delegation of traders from Pakistan will participate in the Saarc Chamber of Commerce and Industry's (Saarc CCI), two-day 44th Executive Committee meeting being held in Sri Lanka on August 27.
- ISLAMABAD
- IMF team due on September 12
- International Monetary Fund (IMF) team is coming to Pakistan for technical consultation on September 12. It is learnt that the team is expected to hold technical discussion with the Ministry of Finance and the State Bank of Pakistan (SBP) up to September 23.
- ISLAMABAD
- Rs 1.75 billion Ramazan Package announced
- The government has announced Rs 1.75 billion 'Ramazan Package' to provide a sigh of relief to the low income families against sky-rocketing prices, reducing essential commodities' rates by 10 to 15 percent at Utility Stores.
- KARACHI
- Furnace oil price raised by Rs 2,136 per tonne
- The oil marketing companies on Monday raised furnace oil price by Rs 2,136 per tonne in the domestic market, despite decline in the crude oil price in the world market, dealers said. All leading OMCs including Pakistan State Oil, Caltex and Shell Pakistan increased furnace oil prices by some 3.6 percent.
- ISLAMABAD
- Management not consulted on OGDCL sell-off plan
- The Privatisation Commission has not taken the management on board for strategic sell-off of the Oil and Gas Development Company Limited (OGDC), making the entire plan dubious. Sources said the Privatisation Commission put up a plan before its board for strategic sell-off of OGDC in its last meeting with a view to have a clear idea of how much it can get from this key public entity of oil and gas sector is being offered to the investors in the near future.
- HOUSTON
- Fingers crossed in US oil sector as storm passes
- Energy companies waited anxiously on Monday as Hurricane Gustav lurched across the nation's largest concentration of oil platforms and refineries in the biggest threat to fuel supplies since 2005. Nearly all of the oil and gas production in the Gulf of Mexico and more than a quarter of US refining capacity was shut or slowed down as a precaution by the time Gustav made landfall near New Orleans on Monday morning.
- ISLAMABAD
- 0.135 million tons of urea import accord signed with Saudi Arabia: Minfal informs EMC
- The Ministry of Food, Agriculture and Livestock (Minfal) on Monday apprised the Economic Monitoring Committee (EMC) that an agreement has been signed with Saudi government for import of 135,000 tons urea, and shipments would start arriving from September 3. This would be followed by more shipments, as per agreed schedule.
- ISLAMABAD
- First Ramazan today
- The Ramazan moon has been sighted and Tuesday (today) will be the first day of the holy month. This was announced by Central Ruet-e-Hilal Committee Chairman Mufti Munib-ur-Rehman here in Islamabad on Monday evening. The zonal and district Ruet-e-Hilal committees also met at their respective headquarters.
- ISLAMABAD
- IPPs Held Responsible for Power Crisis
- The Ministry of Petroleum and Natural Resources (MP&NR) has informed the Economic Co-ordination Committee ECC of the Cabinet (ECC) that the independent power producers (IPPs) were responsible for making the load shedding crisis worse by not maintaining mandatory level of fuel oil for their power generation.
- ISLAMABAD
- High Level Panel of Economists Formed
- Recognising the urgent need for an integrated development package to face the current economic challenges, a high level panel of economists of the country has been formed in the Planning Commission (PC). The panel is also tasked to assist in the preparation of the next five-year development plan, said a press release here on Wednesday.
- ISLAMABAD
- Prices of Essential Items Increased by 100 Percent
- Though the government has announced the Ramazan Package to ensure the smooth supply of essential commodities on subsidised prices, unfortunately the prices of essential items have been increased by 100 per cent on the very first day of the holy month of Ramazan and may continue to rise due to absence of check and balance.
- KARACHI
- Power Tariff Rise to Escalate Cost of Production: FPCCI
- Tanvir A Sheikh, President Federation of Pakistan Chambers of Commerce and Industry (FPCCI) has strongly reacted on the decision to increase the power tariff by 31 percent. President FPCCI said that the increase in electricity charges would ultimately escalate the cost of production of the industrial sector.
- KARACHI
- Outflow of Foreign Portfolio Investment Continues
- The foreign investors withdrew another $4.396 million from the Pakistan equity market during the week ended on September 12. According to the data released by National Clearing Company of Pakistan Limited (NCCPL), the cumulative outflow of this mode of investment increased to $359.633 million in the current year from January 01, 2008 to date.
- ISLAMABAD
- Inflation Jumps to all-time High
- Inflation jumped to an all-time high of 25.33 percent during August, 2008 from 6.45 percent over the same period of last year because of rising prices of food and energy. Rising food and energy prices and successive increase in oil prices over the past few months escalated the prices of essential food items to a level eroding purchase power of low income groups
- KARACHI
- Traders To Offer 10 Percent Discount on Eid Shopping: TAC
- Traders Action Committee (TAC) said that traders have voluntarily decided to cut their profit margin by 10 percent to facilitate buyers during Eid shopping. In a statement here on Friday, Chairman, TAC, Siddique Memon said that business activity has risen by at least five times but traders will not increase prices.
- KARACHI
- KCCI President, VP likely to Resign by September 30
- The President Karachi Chamber of Commerce and Industry (KCCI), Shamim Ahmed Shamsi, Senior Vice President Iftikhar Ahmed Shaikh and Vice President Haroon Agar are expected to submit their resignations before September 30, 2008. The Chamber has called a meeting of its managing committee on September 18, 2008 to co-opt Anjum Nisar, expected to be the new President of KCCI.
- LAHORE
- Punjab Minister Hopeful of Economic, Political Stability
- Punjab Minister for Population Welfare Neelam Jabbar Chaudhry has said that Pakistan has become a centre of investment and investment-friendly policies of the present government have resulted in the development of industrial sector. As such, the multinational companies were willing to make investment in the country, she added.
- KARACHI
- Financing of $750 Million Port Bridge Project: JBIC Awaiting Green Signal from PC
- Japan Bank for International Co-operation (JBIC), which is keen to finance the $750 million Port Bridge project of Karachi Port Trust (KPT), is awaiting clearance from the Planning Commission of Pakistan (PC).
- KARACHI
- Activity at Karachi and Qasim Ports
- The Karachi Port handled 102,283 tonnes of cargo including 56,210 tonnes of import, 46,073 tonnes of export cargo and 3,144 loaded and empty containers (TEUs) during last 24 hours ending at 0700 hours on Friday. The freights comprised of 82,584 tonnes of dry cargo including 33,866 tonnes of general cargo; 11,734 tonnes of wheat; 17,000 tonnes of coal; 8,584 tonnes of cement; 11,400 tonnes of clinker and 19,699 tonnes of oil/liquid cargo.
- KARACHI
- Slide Continues in Auto Sales
- The downward trend in the auto sales (Cars + LCVs) is continuing which stood at 16,997 units for July-August 2008 period, showing a decline of 50 percent on year-on-year basis. According to figures released by Pakistan Automotive Manufacturing Association (PAMA) the unit sales rose by a good 29 percent on month-on-month basis compared to the same period last year.
- KARACHI
- Pakistan's Foreign Exchange Reserves Fall to $9.1 Billion
- The country's foreign exchange reserves fell to $9.10 billion in the week that ended on September 6, from $9.13 billion in the previous week, the central bank said on Thursday. The State Bank of Pakistan said its own reserves fell to $5.72 billion from $5.76 billion previously, while those held by commercial banks rose to $3.38 billion from $3.37 billion.
- MULTAN
- MCCI Demands Cut in Mark-up on Loans
- The Multan Chamber of Commerce and Industry (MCCI) has emphasised upon the financial institutions to reduce the mark-up rates on loans in the best interest of the economy.
- MULTAN
- Punjab Government to Establish Food Authority
- Expressing his dissatisfaction on the performance of Market Committees, Punjab Chief Minister Mian Shahbaz Sharif has decided to abolish market committees and replace them with a magistrate who would control spiraling prices, said S A Hameed, Chairman of Task Force and who administrator of the Punjab Food Stamp Scheme while talking to newsmen here on Sunday.
- LAHORE
- PSIC Completes Industries' Survey in Punjab
- Chief Minister's Task Force for Industrial Development and SME Chairman, Yawar Irfan Khan has said that Punjab Small Industries Corporation (PSIC) has completed the survey of industries in Punjab. This survey has been conducted with the co-operation of relevant chambers of commerce and industry, district governments and other concerned departments.
- ISLAMABAD
- Incentives to Trading Partners: Polyethylene, Polypropylene Duty Structure to be Reviewed
- The federal government has decided to review duty on polyethylene (PE) and polypropylene (PP) with the partner countries under Free Trade Agreements (FTAs) as part of incentives package to be offered to attract investment in Petrochemical Complex in Karachi
- KARACHI
- Need to enhance Pak-Thailand Trade Stressed
- Joompol Manaschuang, Royal Thai Consulate General, Karachi, has urged private and public sectors of Thailand and Pakistan to expedite their efforts to enhance the volume of commercial exchange between two countries. He expressed his views while speaking in an inauguration ceremony of "Thailand Ramazan Bazaar" held here on Monday
- KARACHI
- P&G Pakistan Nominated for Corporate Citizenship Award
- The US Chamber of Commerce Business Civic Leadership Centre (BCLC) on Tuesday named Procter and Gamble (P&G) Pakistan as a finalist for a Corporate Citizenship Award in the category of International Community Service. "The International Community Service Award is all about recognising how global companies can make a positive difference wherever they do business," said BCLC Executive Director Stephen Jordan
- PESHAWAR
- IT returns: SCCI for Extension of Last Date for Submission
- Senior Vice President, Sarhad Chamber of Commerce and Industry (SCCI), Inayat Khan has requested Chairman Federal Bureau of Revenue (CBR) to extend the last date for submission of Income Tax Return to October 31.
- KARACHI
- FPCCI for Slashing Petrol Price by Rs 10 per litre
- Federation of Pakistan Chamber of Commerce and Industry (FPCCI) has expressed disappointment over the Ogra's move of reducing the petrol price by Rs 5 a litre saying that it should be Rs 10 a litre, as world oil price has come down to $95 a barrel from $147.
- SIALKOT
- Initiation of Three Mega Projects at Sialkot Being Delayed
- The setting up of three important projects - Sports Industries Development Centre (SIDC), Product Development Centre for Composite and Sialkot Business and Commerce Centre - costing more than rupees one billion are in doldrums.
- KARACHI
- Pakistan Losing Export Markets Due to High Ship Freights
- Pakistan is losing international markets for its major exportable commodities, particularly rice, to the neighbouring India due to exorbitant freight charged by international shipping lines which have "monopolised the shipping rates in the absence of Pakistani loader fleet".
- ISLAMABAD
- CDWP Meeting Today
- The meeting of Central Development Working Party (CDWP) will be held here on September 18 (Thursday). Deputy Chairman Planing Commission, M Salman Faruqui will chair the meeting. Asif Sheikh, Spokesman, Planing Commission will brief the media and highlight the decisions of the CDWP and important infrastructure projects in various sectors after the meeting to be held here at P block auditorium at 5pm.
- KARACHI
- Business Team to Prepare Points to Discuss with President
- The business community has decided to establish a committee and prepare comprehensive suggestions on economic issues for discussing with President Asif Ali Zardari. The decision was made in a meeting held at the residence of Aquil Karim Dhady on Tuesday night in which prominent persons from FPCCI, KCCI, Kati, Site, KSE and other trade bodies participated.
- LAHORE
- 'Diesel Price Hike to Amplify Users Problems'
- The Lahore Chamber of Commerce and Industry (LCCI) Azad Group Chairman Raja Hassan Akhtar and Secretary General Muhammad Yasin have said the reduction in the petrol price would provide some relief to the middle class while the diesel and kerosene price hike will amplify the industrial and domestic users' problems.
- LAHORE
- Business community condemns blast
- The entire business community including the Federation of Pakistan Chamber of Commerce and Industry (FPCCI) on Sunday strongly condemned the suicide bomb blast at Marriott hotel Islamabad.
- ISLAMABAD
- PGCL Pays Rs 337 Million to CDA
- Pak Gulf Construction (Pvt) Ltd (PGCL) has paid additional sum of Rs 337 million to the Capital Development Authority (CDA) as its scheduled instalment against a plot in the federal capital where the company is constructing a mega complex 'The Centaurus".
- ISLAMABAD
- Package Likely for Gwadar EPZ to Attract Investment: ECC Meets Today
- The Economic Co-ordination Committee (ECC) of the Cabinet is likely to approve an incentives-laden package for Gwadar Export Processing Zone (GEPZ) when it meets here on Tuesday (September 23). Prime Minister Yousuf Raza Gilani would be in the chair. The Ministry of Industries and Production has submitted a summary to the ECC for grant of a lucrative package of incentives to attract investment for the GEPZ.
- KARACHI
- Debt Servicing Crossed $3 Billion Mark in Fiscal Year 2008
- The country's payment under debt servicing is gradually increasing and crossed 3 billion dollars mark during last fiscal year (2007-08), compelling the central bank to utilise foreign reserves for foreign debt payment, while about 1.2 billion-dollars worth debts have also been rescheduled in fiscal year 2008 due to the huge burden of debt servicing.
- LAHORE
- Strategy Evolved to Promote Small, Medium Industries
- The Punjab government has evolved comprehensive strategy for promoting small and medium size industries, which would result in generating of new job opportunities as well as alleviating poverty. Chairman, Chief Minister Task Force, Industries Development and SME's Yawar Irfan Khan stated this during a meeting with a delegation of industrialists here on Tuesday.
- ISLAMABAD
- Pakistan Facing Economic, Security Problems
- The foreign exchange reserves of Pakistan are declining due to the poor economic policies of the previous government, Senator Talha Mehmood, Chairman of the Senate Standing Committee on Interior said here on Tuesday.
- ISLAMABAD
- Low-cost Houses, Flats: Two MoUs Signed with German, Canadian Firms
- German and Canadian construction companies have signed two Memoranda of Understanding (MoUs) to construct 200,000 low-cost houses/flats in major cities of the country under Prime Minister's housing scheme. Under the MOU, the two construction companies will invest 500 million dollars in the initial phase and plan to invest an additional two billion euros in PM's housing project for the poor, needy and shelterless people.
- NEW YORK
- Major Powers vow Sustained Economic Support for Pakistan
- Friends of Pakistan Group, comprising major world powers meeting on Friday assured Pakistan of its full support to bring the country out of its present economic crisis. The next meeting of the Group (which will be made a permanent body changed with the aim of finding solutions for the economic crisis faced by the country) will be held in Abu Dhabi next month.
- LAHORE
- Comprehensive Plan to Develop Northern Lahore: Hamza
- The Punjab government has prepared a comprehensive plan of development of Northern Lahore under which besides construction and expansion of roads, facilities of provision and drainage of water would be increased. The Pakistan Muslim League-Nawaz (PML-N) leader, Hamza Shahbaz Sharif MNA said this while inaugurating eight development projects at Mian Muhammad Aslam Road in UC-12 Datanagar Badami Bagh.
- SIALKOT
- Chinese Products Dominating Local Markets
- The Eid shopping gains momentum in urban and rural areas of Sialkot district as well as in cantonment area of the city. Great rush has been witnessed in shopping centres and commercial markets. Different markets and bazaars remain open till late in the night because customers start pouring in after Iftar.
- KARACHI
- KCCI New Office-bearers Felicitated
- Former chairman Korangi Association of Trade and Industry (Kati), Shaikh Manzar Alam has congratulated newly elected President Anjum Nisar, Senior Vice President Muhammad Jawed Bilwani and Vice President Muhammad Ali of the Karachi Chamber of Commerce and Industry (KCCI) and hopped that they would make efforts to resolve problems confronting the business community.
- KARACHI
- Junaid Amin made Director General CAA
- Air Commodore Junaid Amin (Retd) has been appointed Director Civil Aviation Authority (CAA), Aaj TV reported on Friday. Notification of the appointment of new DG CAA has been issued, the channel said. It may be mentioned here that the post was lying vacant since last two and half months.
- KARACHI
- Pakistan's Foreign Exchange Reserves Fall to $8.82 Billion
- The country's foreign exchange reserves fell $90 million to $8.82 billion in the week that ended on September 20, from $8.91 the previous week, the central bank said on Thursday. The State Bank of Pakistan said its own reserves fell to $5.41 billion from $5.52 billion previously, while those held by commercial banks rose marginally to $3.41 billion from $3.39 billion.
- LAHORE
- Kaira Assures Timely Completion of Projects
- Punjab Finance and Planning and Development Minister Tanvir Ashraf Kaira has said that timely completion of development projects would be ensured and no delay would be tolerated for completion of development projects.
- MULTAN
- MCCI Seeks withdrawal of 16 Percent GST on Computer
- The rise in computer prices due to imposition of 16 percent General Sales Tax (GST) by the government has discouraged the use of computers in educational institutions and made it difficult for them to impart computer education, buy new ones and upgrade existing PCs for training purposes.
- MULTAN
- Member of International Forum should invest in Pakistan
- President of Multan Chamber of Commerce & Industry (MCCI) Khawaja Muhammad Jalaluddin Roomi hoped to overcome Pakistan's growing economic crunch with a little help from its friends.
- ISLAMABAD
- MoU on Construction of Houses Signed with Chinese Firm
- Pakistan and China XiaJiang Beixin Construction and Engineering Corporation signed a Memorandum of Understanding (MoU) on Sunday (28th September) in the Ministry of Housing and Works for the construction of houses, flats and commercial areas in Islamabad, Lahore, Karachi, Quetta under Prime Minister's Housing Scheme.
- ISLAMABAD
- Model for Broad-Based NFC award Ready
- A model for a broad-based National Finance Commission (NFC) Award meant to raise provinces' share from 47.5 percent to 55 percent of the resources of divisible pool is ready for consideration of the newly constituted commission. Dr Gulfraz Ahmed, a formal federal secretary, who is also a member of the reconstituted commission, is the author of the proposed NFC model. He represents Balochistan for negotiations with other parties for the new NFC award.
- KARACHI
- Food Inflation Swells to 34 percent
- Inflation is getting bigger and uglier by the minute as the Consumer Price Index (CPI) inflation soared to peak level of 25.3 percent during August 2008, as compared to 6.5 percent in the same period last year
- MUZAFFARABAD
- Cross-LoC Trade Good Omen for CBMs
- Kashmiri leaders in Azad Kashmir have appreciated the resumption of the stalled composite dialogue between India and Pakistan by launching trans-Kashmir trade and terming this initiative a good omen for confidence building measures (CBMs).
- KARACHI
- Saarc Chamber Hails Manmohan's Statement
- Leadership of Saarc Chamber of Commerce and Industry has hailed the statement of Indian Prime Minister Manmohan Singh about peaceful restoration of all outstanding issues between India and Pakistan, including the issue of Jammu and Kashmir.
- HYDERABAD
- DPDC Directed to Prepare Feasibility for Uplift Schemes
- The MPA, Pir Amjad Shah Jilani, who has been nominated as the Chairman, District Peoples Development Committee (DPDC), Hyderabad has directed the officers of nations' building department to prepare feasibility reports for new development schemes and upgradation of existing public facilities in consultation with concerned public representatives.
- KARACHI
- Plea to Restore Minimum Tax Formula
- Former President of Karachi Chamber of Commerce and Industry (KCCI), Shamim Ahmed Shamsi, has urged the finance ministry to restore the provision of minimum tax u/s 113. In a communication to Federal Minister for Finance Syed Neveed Qamar, he said that the provision for minimum tax at the rate of 0.5 percent of its turnover u/s 113 was withdrawn vide finance act,2008.
- SIALKOT
- Plan for Cottage Industries Uplift
- Punjab government has prepared a comprehensive plan for setting up maximum industries aimed at generating employment opportunities in Punjab. Under the plan government was utilising Rs400 million on the development and promotion of cottage industries in the province.
- QUETTA
- Business Activities Resuming in Quetta Today
- All main commercial areas, bazaars and dry fruit market remained closed on the fifth consecutive day of Eid, on Sunday, in the provincial capital and business activities will resume formally on Monday in the city.
- MULTAN
- MCCI Demands Reduction in Power Tariff
- Khawaja Muham-mad Jalal-uddin Roomi, president of the Multan Chamber of Commerce & Industry (MCCI) has said that B-3 tariff must be reduced because its line losses are very low and there was no justification or legitimacy in subsidising one industry at the cost of another.
- MULTAN
- Multan Dry Port
- Prime Minister Syed Yousuf Raza Gilani would lay the foundation stone of the Multan Dry Port near Sher Shah Bypass on October 15. Sources said that the railway administration has completed all the arrangements in this regard.
- FAISALABAD
- Lahore Rapid Mass Transit System: Pakistan Asked to Complete PPP Transaction
- Asian Development Bank has asked the Government to complete Public-Private Partnership (PPP) transaction for Private Sector Concession by October 2009, while ADB multi-tranche financing facility loan will be approved for public sector investment by December 2008 for Lahore Rapid Mass Transit System Project.
- ISLAMABAD
- Pakistan wants Greater Market Access to EU: Prime Minister
- Welcoming the French statements that every country has the right to use nuclear energy for peaceful civilian purposes, Prime Minister Syed Yousuf Raza Gilani has expressed hope that France will help Pakistan to use nuclear technology to meet its energy requirements.
- ISLAMABAD
- Uplift Projects: Qureshi holds Meeting with Chinese Companies Executives
- Foreign Minister Makhdoom Shah Mahmood Qureshi held a meeting with the heads of Chinese companies executing development projects and doing business in Pakistan here at the Foreign Office on Monday. The focus of the meeting was on attracting and undertaking more investment projects in Pakistan and re-visit preparations for President Asif Ali Zardari's forthcoming visit to China.
- PESHAWAR
- Fata and Pata Industrial Units: Tacci demands exemption from all kind of taxes
- Tribal Area Chamber of Commerce and Industry (Tacci) has demanded exemption of the industrial units in Fata and Pata from all kind of taxes and writing off of all outstanding against them in head of Excise Duty. The demand was made in the meeting of the chamber with President Mohammad Akbar Khan in the chair.
- KARACHI
- ICCI Shifting Headoffice to Cairo for Security Grounds
- The Islamic Chamber of Commerce and Industry (ICCI) is contemplating shifting its headoffice from Pakistan to Egyptian capital Cairo on security grounds. As per its proposed plan, the present headoffice of ICCI will be converted into a regional office. It will be the eight regional office of the Islamic chamber.
- KARACHI
- Ban on Import of Unnecessary Goods Suggested
- Former President, Federation of Pakistan Chambers of Commerce and Industry (FPCCI), Tariq Sayeed, has suggested to the government to impose ban on import of unnecessary goods for six months.
- ISLAMABAD
- Political Backing Sought to act against Sugar and Cement Cartels
- The Competition Commission of Pakistan (CCP) has asked the Economic Co-ordination Committee (ECC) of the Cabinet to provide full political support and backing to prove alleged cartelization in the cement and sugar sectors
- ISLAMABAD
- Pakistan and Iran to Enhance Economic Cooperation
- Pakistan and Iran agreed to enhance bilateral economic co-operation in various sectors including energy, railways, roads and trade besides realising the need for establishing Joint Shipping Company to boost maritime co-operation and mutual trade.
- MULTAN
- US asked to Give MFN Status to Pakistan
- United States should give Pakistan the status of Most Favourite Nation (MFN) to make it economically stable, strong and prosperous, just as it has already given the status to other developing nations like Sri Lanka. President, Multan Chamber of Commerce & Industry (MCCI), Khawaja Muhammad Jalaluddin Roomi, expressed his views during his meeting with US Consulate's Political Economic Officer, Matthew Lowe, held here on Wednesday
- LAHORE
- Shaukat Tareen greeted: LCCI calls for Plan to Restore Trust of Businessmen
- The Lahore Chamber of Commerce and Industry on Wednesday congratulated newly appointed Advisor to Prime Minister on Finance Shaukat Tareen, and called for an immediate and urgent plan to boost depleting morale and confidence of the business community.
- SIALKOT
- Sports and Surgical Goods Cities in Sialkot Demanded
- Local exporter community has appealed to the Federal and Provincial governments to set up "Sports goods and Surgical instruments" cities to facilitate the SMEs of this export-oriented city and hub of cottage industry of the country as well as in the recognition of the services and importance of Sialkot, which was earning foreign exchange to tune of 1 million dollars annually and strengthening the national economy.
- OCCUPIED SRINAGAR
- IoK and AJK to have joint Business Chamber
- In a major boost to the cross-LoC trade scheduled to commence later this month, the visiting trade delegation from AJK and their hosts have announced formation of a joint business chamber and use of dual currency of India and Pakistan for the purpose.
- SIALKOT
- Government urged to adopt long term Policies to Overcome Power Crisis
- Vice President of Sialkot Chamber of Commerce and Industry (SCCI) Fazal Jilani has urged the government to adopt far-reaching approach to overcome electricity crisis for protecting the industrial sector from total collapse. Talking to media persons here on Sunday he said alternative resources like solar energy and other means should be used for power generation in the country.
- ISLAMABAD
- No banking crisis in sight: ICCI President
- President Islamabad Chamber of Commerce and Industry (ICCI), Muhammad Ijaz Abbasi on Sunday said there was no banking crisis in the country and called upon the business community and general public not to withdraw cash from banks just on rumours because such moves badly hurt trade and industry.
- BEIJING
- Pakistan and China to sign Investment Protocol Next Week
- Pakistan and China will ink an agreement on Investment Protocol during President Asif Zardari's visit to China next week. Pakistan's Ambassador to China Masood Khan told newsmen on Saturday that negotiation between senior officials of Ministries of Commerce of Pakistan and China had been completed on Investment Protocol to make free trade agreement (FTA) more comprehensive.
- ISLAMABAD
- CPI Inflation Jumps to 24.52 percent in Three Months
- The CPI inflation jumped to 24.52 percent during the first three months - July-September 2008 - against 7.07 percent over the same period of last year on the back of continuous increase in the prices of commodities and services with food and energy on top, according to Federal Bureau of Statistics (FBS).
- BEIJING
- Gilani calls upon Chinese companies to invest in Pakistan in a big way
- Prime Minister Syed Yousuf Raza Gilani on Friday urged the Chinese companies to invest in Pakistan in a big way, strengthening the bonds of ever-lasting Sino-Pak friendship through economic diplomacy.
- ISLAMABAD
- 32.33 percent inflation surge recorded
- The galloping inflation made day to day life of low and middle income groups miserable as the weekly inflationary trend measured through sensitive price index (SPI) surged by 32.33 percent during the week ending October 23 as compared to the corresponding week of last year, Federal Bureau of Statistics said on Friday.
- KARACHI
- UK businessmen keen to invest in Pakistan: Sindh chief minister informed
- Pakistan High Commissioner in Britain, Wajid Shamsul Hassan, called on Sindh Chief Minister, Syed Qaim Ali Shah, here at the Chief Minister House on Sunday.
- ISLAMABAD
- Hashwani says situation not conducive for business
- Hashoo Group Chairman Sadruddin Hashwani has expressed his firm resolve that he would remained committed with Pakistan in regard with investment and said that these testing moments have not shaken his believe in the potential of the country.
- KARACHI
- Morocco for boosting trade ties with Pakistan
- The leader of Moroccan Trade Delegation Dr Aziz Chekaovi has emphasised the need of frequent exchange of delegations and dissemination of business and trade information to boost bilateral trade. Speaking at a meeting of Karachi Chamber of Commerce and Industry (KCCI) on Tuesday, he said that two way trade is only 163 million dollars out of which Pakistan import from Morocco is only 13 million dollars and export to Morocco is 150 million dollars.
- KARACHI
- Romania wants joint ventures in fish processing and energy sectors
- The President, Romania Chamber of Commerce and Industry (RCCI), Paul Butnariu has said that the purpose of his delegation's visit is to see Pakistani products and develop contacts with the business community to boost two-way trade.
- KARACHI
- KCCI and KNCCI ink MoU to strengthen trade ties
- The Karachi Chamber of Commerce and Industry (KCCI) and Kenya National Chamber of Commerce and Industry (KNCCI) on Wednesday singed a Memorandum of Understanding (MoU) to strengthen mutual co-operation on Wednesday President KCCI Anjum Nisar and Chairman of KNCCI David Githere have inked the MoU on behalf of their respective organisations.
- KARACHI
- FPCCI not in favour of IMF loans
- The Federation of Pakistan Chambers of Commerce and Industry (FPCCI) has expressed concern over Pakistan entering into an agreement with the IMF on rigid and unfavourable terms and conditions which could be detrimental to the country's interests.
- ISLAMABAD
- Ecnec meeting on Thursday
- A meeting of Executive Committee of National Economic Council (ECNEC) would be held here on November 6 to review and approve various mega development projects worth billions.
- KARACHI
- High mark-up, oil prices and power tariff: KCCI team meeting Zardari on Friday
- A 40-member delegation of Karachi-based businessmen will meet President Asif Ali Zardari on Friday to discuss issues of mark-up rates, oil prices, power tariff, etc. The delegation comprises Karachi Chamber of Commerce and Industry President Anjum Nisar, Senior Vice President Muhammad Jawed Bilwani, Vice President Mohammed Ali, Formers Presidents, Siraj Kassim Teli, Haroon Farooki, Zubair Motiwala and Aqeel Karim Dedhi, etc.
- LAHORE
- PIAF Alliance announces candidates for LCCI polls
- PIAF-Founders Alliance leaders while announcing their corporate class candidates said that all the contestants are educated, experienced and most competent to solve the problems presently faced by the country's economy.
- KARACHI
- $100 billion FDI in pipeline, says BoI chief
- Chairman, Board of Investment (BoI) Saleem H Mandviwalla has informed business community that an Italian firm has agreed to make 100 million dollar investment in marble sector in Pakistan. Speaking at a meeting of Karachi Chamber of Commerce and Industry (KCCI) on Thursday, dispelling the impression that local and foreign investors are not making investment in the country.
- SLAMABAD
- Heavy agenda and financial constraints mar Ecnec meeting
- The meeting of Executive Committee of the National Economic Council (Ecnec) that was to approve 42 developmental projects worth Rs 311.53 billion for various sectors ended up without completing its business. Sources said that only half of the projects on agenda could be taken up during the daylong meeting and it was not clear when exactly the next meeting would be held to take up rest of the agenda.
- ISLAMABAD
- Ecnec approves 11 projects
- The Executive Committee of the National Economic Council (Ecnec) has approved eleven projects in infrastructure, education, energy, security and rural uplift sectors in its meeting held recently, sources told on Saturday. It has given go-ahead for setting up of Pak-China Friendship Centre, costing Rs 2519 million as a gesture to cement the deep-rooted Sino-Pak ties.
- KARACHI
- Economic issues come under focus during last few months: report
- The economy has deep-rooted structural problems, which have come sharply under focus during the last few months as the economic difficulties emerged. This was stated in an interim report of the panel of economists on 'Economic Stabilisation with a Human Face' made available to here on Monday.
- ISLAMABAD
- Government to get over $11 billion aid, oil on deferred payments
- A foreign assistance of over $11 billion as well as oil on deferred payments from different sources is in the pipeline that would help Pakistan overcome economic crisis. Sources told on Monday that this was stated by advisor on finance Shaukat Tarin in a meeting with Prime Minister Syed Yousuf Raza Gilani.
- KARACHI
- Reforms should be independent of foreign assistance: experts
- There is need to avoid any perception that the reform effort would be weaker if more foreign resources were forthcoming. An interim report of a panel of economists, led by Dr Hafiz Pasha on 'Economic Stabilisation with a Human Face', said that the package of reforms should be developed independently of the quantum of external assistance that is likely to become available.
- KARACHI
- Budget deficit target cut unlikely to be achieved
- An economists' panel lead by Dr Hafiz Pahsa has come on conclusion that the reduction in budget deficit target from 7.4 percent of the GDP in 2007-08 to 4.7 percent in 2008-09 is unlikely to be achieved. Leading economists Panel has prepared a report on "Economic Stabilisation with a Human Face", in which they have examined in depth the budgetary projections for 2008-09.
- ISLAMABAD
- Reforms, investment in key sectors discussed
- Deputy Chairman Planning Commission Salman Faruqui discussed reforms and investment in key sectors like transport, energy, water schemes with Asian Development Bank (ADB) country director here on Wednesday. The progress made on the ongoing projects like renewable energy, power transmission, infrastructure development and earthquake assistance also came under discussion.
- KARACHI
- 18 MNCs may wind up business if unrest persists: OICCI survey
- In prevailing and persisting law and order's terrible conditions 18 multinational companies are considering to wind up their business in the country, while 88 percent of foreign investors consider measures, taken by the government to control unrest situation inadequate.
- KARACHI
- Munir elected President of IPCCI
- Former President of Federation of Pakistan Chambers of Commerce and Industry (FPCCI) and leader of business community, S.M.Munir has been elected as President of India Pakistan Chamber of Commerce and Industry (IPCCI) for two years. He was elected unanimously at a meeting of the chamber held in New Delhi on Wednesday for the year 2008-10.
- LAHORE
- Furniture sector exports decline
- Exports of furniture sector has gone down substantially due to rising instability in political and economic circumstances, coupled with recent heavy load shedding in the country. "No foreign buyer has entered in to Pakistani market over the last one year and no one is ready to book order by simply going through our designs at company web-sites," said Saad Ghauri from Rosewood Furnitures.
- ISLAMABAD
- Japanese companies: Pakistan offers to establish special economic zone
- Pakistan has offered setting up a special economic zone for Japanese business companies, Japanese Ambassador to Pakistan, Chihiro Atsumi was informed by Deputy Chairman Planning Commission, Salman Faruqui on Thursday. Faruqui said that Pakistan was already establishing such facility for China in Lahore and was willing to do so for Japan in the south of the country, probably in Karachi.
- ISLAMABAD
- Pakistan values its multifaceted ties with UAE: Prime Minister
- Prime Minister Syed Yousuf Raza Gilani has said that Pakistan values its close and multifaceted relations with the UAE which are rooted in common faith and shared heritage, values and culture and is keen to expanding co-operation in all fields especially economic, commercial, investments, manpower, energy and defence sectors.
- LAHORE
- Lahore traders decide in favour of PIAF
- The Lahore's business community has already given its verdict in the favour of the PIAF-Founders Alliance as it has set new standards of excellence by extending support to business community for the cause of economic turnaround.
- KARACHI
- Restoration of investor confidence vital to economy
- Speakers at an investment forum said that the nation would come out of depression and successfully put the economy at right track. However, they said, restoration of investors and general public confidence is necessary for economic revival. The one day investment forum on "Investing in Change: Pakistan and World" was organised by BMA Funds at a local hotel here on Saturday.
- LAHORE
- Economic situation likely to improve shortly: Taseer
- The economic situation in the country is likely to improve shortly in the backdrop of expected assistance of $3-4 billion from the "Friends of Pakistan", while the IMF loan and reduction in oil import bill by $500 million, following declining oil prices internationally, would not only help stabilise the Pak rupee, but also support in overcoming the trade deficit.
- ISLAMABAD
- Korean company committed to bring more foreign investment
- The Korean delegation comprising of Sambu Construction Co Ltd and Korean Midland Power Company (KOMIPO) called on the Secretary, Ministry of Investment, Ashraf Hayat on Monday. Secretary welcomed the delegation and discussed bilateral economic relations between the two countries and appreciated the Korean company's interest for investment in development of Taunsa Barrage Hydropower Project (120MW) on BOOT basis.
- ISLAMABAD
- Tarin about power tariff related problems: FPCCI team briefs
- FPCCI delegation led by its President, Sheikh Tanveer Ahmed held a meeting with Adviser to PM on Finance and Economic Affairs Shaukat Tarin here on Friday. The delegation apprised the adviser about private sector business community's electricity tariff related problems that posed impediments in overall industrial growth.
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