Commerce

TDAP organizes events to promote food export

ISLAMABAD (Sarzameen News0 – For the promotion of food trade from Pakistan, the Trade Development Authority of Pakistan (TDAP) organized participation in 19th international exhibitions related to food sector during the fiscal year 2015-16. In addition the authority arranged tour of seven trade delegations during the year to promote exports of agro food products from

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Arid Saudi could need ‘$50 billion’ in water investment

RIYADH (Sarzameen News) – Arid Saudi Arabia could need more than $53 billion in water sector investment supported by private funds as demand grows, officials said on Sunday. The world’s largest oil exporter, whose petroleum revenues fell 51 percent last year on declining crude prices, is pushing to diversify its economy through greater private sector

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Ishaq Dar reviews preparations of PBS to conduct population census

ISLAMABAD (Sarzameen News) – Federal Minister for Finance, Senator Ishaq Dar on Saturday chaired a meeting to review the progress of the ongoing activities of Pakistan Bureau of Statistics (PBS) including preparation made by the bureau for holding of 6th population and housing census in the country. The Minister showed satisfaction on the preparations made

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Pakistan’s State Bank governor calls India’s cash clampdown “extreme”

NEW YORK (Sarzameen News) – Pakistan’s State Bank Governor, Ashraf Mahmood Wathra has called India’s shock clampdown on cash an “extreme” step to boost financial inclusion, tax collection and battle graft. “To my imagination that is a very, very extreme measure,” Governor Wathra said in an interview with Bloomberg economic and financial news service, after

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ANF seizes drugs worth Rs 1.6 bln

ISLAMABAD (Sarzameen News) – The Anti Narcotics Forces (ANF) in 19 countrywide operations carried out at Rawalpindi, Attock, Jhelum, Gilgit, Sialkot, Lahore, Sahiwal, Karachi and Panjgoor, seized drugs 1509 worth Rs 1.6 Billion in International Market. The seized drugs comprised 1.5 Ton Hashish, 3.64 Kg Heroin, 1.02 Kg Amphetamine, 30 gram Cocaine and 700 gram

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Govt committed to address problems of industries: Ishaq Dar

ISLAMABAD (Sarzameen News) – Federal Minister for Finance, Senator Ishaq Dar Friday said that, “The Government is committed to address the problems of the Industry as much as possible.” He made these remarks while talking to President of Federation of Chambers of Commerce and Industry (FPCCI) Rauf Alam and former President of FPCCI Muzamil Sabri

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UBL Funds awarded most Customer-Centric Asset Manager in Pakistan

ISLAMABAD (Sarzameen News) – UBL Fund Managers Limited (UBL Funds), one of Pakistan’s leading asset management companies, has been recognized by an award for The Most Customer-Centric Asset Manager in Pakistan by The European in its prestigious Global Banking & Finance Awards 2016. The European’s recognizes organizations that stand out from the crowd and are,

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ECC approves reduction of gas price for Industry

ISLAMABAD (Sarzameen News) – The Economic Coordination Committee (ECC) on Friday approved reduction of gas price for Industry from Rs. 600 to 400 per MMBTU. In accordance with Fertilizer Policy 2001, the Industrial Sector gas sale price will also be applicable to Fertilizer sector only for fuel stock. The development came during a meeting of

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Senate thanks Ishaq Dar for salary raise

ISLAMABAD (Sarzameen News) – The Senate on Friday passed one government bill and adopted a resolution to thank Minister for Finance, Senator Ishaq Dar for his interest in raising the salary of parliamentarians. The House passed the Criminal Laws (Amendment) Bill, 2016 after the report of Standing Committee and deleted an irrelevant clause in it.

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Pakistan’s foreign reserves decreased to US$23,865 mln

ISLAMABAD (Sarzameen News) – Pakistan’s total liquid foreign reserves decreased by US$230 million to US$23,865 million, the State Bank of Pakistan (SBP) said on Thursday. Giving the break-up of the foreign reserves position, a statement by the SBP said that foreign reserves held by the bank stood at US$ 18,846.9 million whereas the net foreign

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