Work on chili processing plant in Kunri stalled for years on May 30, 2016KARACHI: National Accountability Bureau (NAB) Chairman Qamar Zaman Chaudhry has said that the authority would investigate the alleged financial irregularities in the establishment of red chilies drying and processing plant at Kunri. Earlier, the business community had asked the Anti Corruption Establishment (ACE) Karachi to expedite the action into gross financial irregularities and corruption in […]
PR fooling passengers by announcing business train, changing timings of trains on May 27, 2016KARACHI: Pakistan Railways (PR), in an attempt to fool train commuters, announced that it had started a business train between Karachi and Mirpurkhas and changed timings of the train running between Mirpurkhas to Hyderabad for the convenience of passengers. The passengers on routine journeys on these railway tracks ended up being the main losers and […]
SMEs facing shortage of capital inflow amid poor govt policies on May 25, 2016KARACHI: The country’s small and medium enterprises (SMEs), comprising 70 percent of the production and trading economy, is facing acute shortage of capital inflow on back of poor government policies, finance experts said on Wednesday. One of the sad affairs in this regard is lack of loans provided to private sector by the commercial banks […]
Traders express mix reaction to cut in policy rate on May 23, 2016KARACHI: The export-oriented industrial sector and members of business community have expressed mixed reaction over the policy rate cut in announced by State Bank of Pakistan (SBP). The SBP has announced cut of 25 bps from 6 percent to 5.75 percent in its monetary policy statement. The members of prime export sectors including textile (garments), […]
Experts want expansion in IT business via foreign investment on May 15, 2016KARACHI: The Ministry of Information Technology should mull over every possible corridor to invite foreign investment in Information Technology (IT) sector, which needs to expand, experts say. The private sector is ready to play every possible role in this regard and the stakeholder are interested the government should provide them incentive so that they can, […]
Import of granite from India badly hampering local industry on May 5, 2016KARACHI: The import of granite from India has badly hampered the country’s potential production of the product, all due to the negligence of Pakistan Customs. The export of marble to India during July 2015 to March 2016 stood at $4.5 million while the import of banned item, granite, during the same period stood at $10 […]
Export of finished leather falls by 26% in July-March on May 3, 2016KARACHI: During July-March period of current fiscal year, the export of finished and semi-finished leather goods have declined by 20% in terms of value, and in terms of quantity, finished leather export declined about 20%. “Even on this very serious issue, the government did not listen to the grievances of Pakistan Tanners Association (PTA), said […]
World cotton production likely to decrease by 22m tonnes in 2030 on April 30, 2016KARACHI: The world cotton production share is likely to decline from 23 million tonnes to 3.20 million tonnes due to the growth of man-made synthetic and cellulose fibres, expected reach 138 million tonnes by 2030. On the other hand, despite all efforts, Pakistan’s lint production would be hurt by high cost of inputs, weak prices, […]
Growers, traders suffer due to incomplete chilli market in Kunri on April 10, 2016 KARACHI: Work on a new chilli market in Kunri, Sindh, has not been completed despite a lapse of more than six years. The market project is incomplete so far due to the gross corruption of the contractor in connivance with the officials of the building department officials of Mirpur Khas. A technical inquiry into […]
World Customs Day marked: Digitising Customs is door to future, says Ishaq Dar on January 27, 2016KARACHI: Pakistan Customs celebrated the World Customs Day with befitting manner at different Customs formations in major cities like Karachi, Lahore, Quetta, Peshawar and other parts of the country on January 26th. In a message Prime Minister Nawaz Sharif said that it was indeed a day to appreciate the performance of Pakistan Customs in establishing […]