A1Kaid
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Pakistan's Economy - News and Updates
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FCPX
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Dont know about Japan but there is a growing market for mangoes here in SA and I wonder why Pakistan doesnt export their finest mangoes here?
That Guy
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Pakistan to receive $12 billion in 3 years: Dar
ISLAMABAD: Enumerating several economic indicators that have shown positive improvement, Finance Minister Senator, Mohammad Ishaq Dar said Pakistan would get about $12 billion in next three years from international financial institutions.
The country would receive about $12 billion from International Monetary Fund (IMF), World Bank (WB) and Islamic Development Bank (IDB) during next three years, the federal minister said during a press conference here on Monday.
"We have protected ourselves from any default and financially secured for the next three years for payments to lenders but there is need that we now focus on improving country's foreign exchange reserves," he said.
Ishaq Dar said that $6.6 billion are expected from IMF which has called its board meeting on September 4 to discuss the issue keeping in view the progress in country's economy as witnessed by its management.
He said that the country would also get $1.5 billion from WB this year as the bank has principally agreed to provide this loan where as $750 million and Euro 100 million (for trade enhancement) are expected from IDB through various schemes.
The federal minister said that the economy of country was on right path and the government was going ahead in accordance with its budget discipline.
He said that despite changes in management of Federal Board of Revenue (FBR), the revenue collection during the first month of the current fiscal year (2013-14) has reached to $134 billion against the target of $136 billion.
He added that the collection in revenues in July 2013 was 25 percent higher than last fiscal year.
He said that the current account was also in surplus as against the deficit of $427 million in July 2012, the current account is in surplus of $36 million in July this year.
He said that the foreign remittances during July 2013 also increased up to $1.4 billion and if the trend continues, the remittances during the current fiscal year are expected at $14 billion to $16 billion.
He said that facilitating overseas Pakistan to send free of charges remittances to the country under the Pakistan Remittance Initiative (PRI) has produced positively results and helped enhance revenues upto $1.4 billion in July this year.
He said that the government is also working on another initiative to help overseas Pakistan send remittances on fast-track basis.
He said the State Bank of Pakistan has been given task to formulate a system as soon as possible to ensure speedy transfer of money adding that when this mechanism would enhance transfer of money through government channels instead of private schemes.
Ishaq Dar said that the government had put ban on import of gold keeping in view the depreciation of rupees value. He said that the gold imports into the country had increased many fold owing to the ban on gold import by India and consequent smuggling of gold from Pakistan to India.
Pakistan to receive $12 billion in 3 years: Dar | BUSINESS - geo.tv
ISLAMABAD: Enumerating several economic indicators that have shown positive improvement, Finance Minister Senator, Mohammad Ishaq Dar said Pakistan would get about $12 billion in next three years from international financial institutions.
The country would receive about $12 billion from International Monetary Fund (IMF), World Bank (WB) and Islamic Development Bank (IDB) during next three years, the federal minister said during a press conference here on Monday.
"We have protected ourselves from any default and financially secured for the next three years for payments to lenders but there is need that we now focus on improving country's foreign exchange reserves," he said.
Ishaq Dar said that $6.6 billion are expected from IMF which has called its board meeting on September 4 to discuss the issue keeping in view the progress in country's economy as witnessed by its management.
He said that the country would also get $1.5 billion from WB this year as the bank has principally agreed to provide this loan where as $750 million and Euro 100 million (for trade enhancement) are expected from IDB through various schemes.
The federal minister said that the economy of country was on right path and the government was going ahead in accordance with its budget discipline.
He said that despite changes in management of Federal Board of Revenue (FBR), the revenue collection during the first month of the current fiscal year (2013-14) has reached to $134 billion against the target of $136 billion.
He added that the collection in revenues in July 2013 was 25 percent higher than last fiscal year.
He said that the current account was also in surplus as against the deficit of $427 million in July 2012, the current account is in surplus of $36 million in July this year.
He said that the foreign remittances during July 2013 also increased up to $1.4 billion and if the trend continues, the remittances during the current fiscal year are expected at $14 billion to $16 billion.
He said that facilitating overseas Pakistan to send free of charges remittances to the country under the Pakistan Remittance Initiative (PRI) has produced positively results and helped enhance revenues upto $1.4 billion in July this year.
He said that the government is also working on another initiative to help overseas Pakistan send remittances on fast-track basis.
He said the State Bank of Pakistan has been given task to formulate a system as soon as possible to ensure speedy transfer of money adding that when this mechanism would enhance transfer of money through government channels instead of private schemes.
Ishaq Dar said that the government had put ban on import of gold keeping in view the depreciation of rupees value. He said that the gold imports into the country had increased many fold owing to the ban on gold import by India and consequent smuggling of gold from Pakistan to India.
Pakistan to receive $12 billion in 3 years: Dar | BUSINESS - geo.tv
salman77
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Export of surgical, medical instruments increases by 18%
ISLAMABAD: The export of surgical goods and medical instruments from the country during the first month of current financial year increased by 17.57 percent as compared to same month of last year. In July 2013 surgical goods and medical instruments worth $30.814 million exported as compared to the exports of $26.210 million recorded in July 2012, said the data of Pakistan Bureau of Statistics.
Meanwhile the exports of chemicals and pharma products increased by 66 and 51 percent respectively and reached at $106.02 million in last month, which was recorded at $63.67 million during the same month of last financial year. During the period under review, exports of pharmaceutical products grew by 5.76 percent and country earned $14.68 million by exporting the different pharmaceutical products as compared to $12.04 million of same period last year, it added.
In July, cutlery goods worth $7.25 million exported from the country, which were recorded at $7.23 million in same month of last financial year showing an increase of 0.25 percent, the data revealed.
The export of onyx manufactured registered growth in start of new financial year as it grew by 180.27 percent as about 449 metric tonnes of the product costing $1.264 million exported against the last years exports of 212 metric tonnes worth $0.45 million, it added. About 23,224 metric tonnes of plastic materials valuing $31.85 million exported in month of July 2013 as compared 25,789 metric tonnes worth $33.170 million exported in same month of last year. The other chemicals exports from the country during the period under review jacked up by 232.74 percent and reached at $61.42 million in the first month of current financial year as compared to $18.46 million in the same month of last financial year, the data added.
Daily Times - Leading News Resource of Pakistan
ISLAMABAD: The export of surgical goods and medical instruments from the country during the first month of current financial year increased by 17.57 percent as compared to same month of last year. In July 2013 surgical goods and medical instruments worth $30.814 million exported as compared to the exports of $26.210 million recorded in July 2012, said the data of Pakistan Bureau of Statistics.
Meanwhile the exports of chemicals and pharma products increased by 66 and 51 percent respectively and reached at $106.02 million in last month, which was recorded at $63.67 million during the same month of last financial year. During the period under review, exports of pharmaceutical products grew by 5.76 percent and country earned $14.68 million by exporting the different pharmaceutical products as compared to $12.04 million of same period last year, it added.
In July, cutlery goods worth $7.25 million exported from the country, which were recorded at $7.23 million in same month of last financial year showing an increase of 0.25 percent, the data revealed.
The export of onyx manufactured registered growth in start of new financial year as it grew by 180.27 percent as about 449 metric tonnes of the product costing $1.264 million exported against the last years exports of 212 metric tonnes worth $0.45 million, it added. About 23,224 metric tonnes of plastic materials valuing $31.85 million exported in month of July 2013 as compared 25,789 metric tonnes worth $33.170 million exported in same month of last year. The other chemicals exports from the country during the period under review jacked up by 232.74 percent and reached at $61.42 million in the first month of current financial year as compared to $18.46 million in the same month of last financial year, the data added.
Daily Times - Leading News Resource of Pakistan
ejaz007
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Nestle Pakistan posts 20% yearly increase in first half of 2013
Staff Report
KARACHI: Nestle Pakistan Limited (NPL) continuing growth recorded 20 percent yearly increase to profit after tax (PAT) of Rs 3.5 billion in the first half of current fiscal against PAT of Rs 2.9 billion in the corresponding period of previous year.
The net profit translated into Rs 77.02 earnings per share during the period under review over Earning per Share (EPS) of Rs 64.19 in the same period of the previous year, the financial results of the Company announced at Karachi Stock Exchange (KSE) on Tuesday.
The gross sales of the Company stood at Rs 42.4 billion in January to June 2013, registering 3 percent increase as compared to Rs 41.2 billion in the previous year.
The Company’s financing cost increased meagerly to Rs 1.02 billion in the months under review over Rs 1.00 billion in same period last year.
Nestle Pakistan has not announced a final cash dividend for the period under review.
The Company also announced second quarter (April to June) financials results, during second quarter, on sequential quarter basis the PAT of the Company decreased by 16 percent to PAT of Rs 1.6 billion as compared to PAT of Rs 1.9 billion in the first quarter of 2013 mainly due to law and order situation, energy shortages and lower consumer’s disposable income.
However on yearly basis the Company’s profitability in second quarter 2013 jumped by 23 percent to Rs 1.6 billions with EPS of Rs 35.30 against PAT of Rs 1.3 billion with EPS of Rs 27.48 in the same period last year.
The topline of the Company jumped by 5 percent to the net sales of Rs 22.0 billion in the second quarter of 2013 while it stood at Rs 20.9 billion in the corresponding period of 2012 while gross profit of the Company for the second quarter 2013 period that ended on June 30, 2013 stood at Rs 6.7 billion, registering a growth of 15.0 percent over the gross profit of Rs 5.8 billion in the same period last year.
Similarly, the selling and distribution expenses soared by 25 percent to Rs 5.9 billion in first half of 2013 as against Rs 4.7 in similar period of previous year. It increased by 31 percent to Rs 3.4 billion in second quarter 2013 from Rs 2.6 billion in same quarter 2012.
Meanwhile, other income of the blue chips of the Company increased by 17 percent to Rs 106.7 million in the first half 2013 period as compared to the other income of Rs 90.9 million in the first six months period of 2012. Likewise it increased by 7 percent also in second quarter 2013 to Rs 56.9 million as against Rs 53.0 in the same quarter of 2012.
Gross profit before taxation of the Company stood at Rs 4.8 billion in first half of 2013, depicting an increase of 23 percent as against Rs 3.9 billion in the same period last year. It increased by 29 percent in second quarter 2013 to Rs 2.2 billion versus Rs 1.7 billion in same quarter 2012.
Daily Times - Leading News Resource of Pakistan
Staff Report
KARACHI: Nestle Pakistan Limited (NPL) continuing growth recorded 20 percent yearly increase to profit after tax (PAT) of Rs 3.5 billion in the first half of current fiscal against PAT of Rs 2.9 billion in the corresponding period of previous year.
The net profit translated into Rs 77.02 earnings per share during the period under review over Earning per Share (EPS) of Rs 64.19 in the same period of the previous year, the financial results of the Company announced at Karachi Stock Exchange (KSE) on Tuesday.
The gross sales of the Company stood at Rs 42.4 billion in January to June 2013, registering 3 percent increase as compared to Rs 41.2 billion in the previous year.
The Company’s financing cost increased meagerly to Rs 1.02 billion in the months under review over Rs 1.00 billion in same period last year.
Nestle Pakistan has not announced a final cash dividend for the period under review.
The Company also announced second quarter (April to June) financials results, during second quarter, on sequential quarter basis the PAT of the Company decreased by 16 percent to PAT of Rs 1.6 billion as compared to PAT of Rs 1.9 billion in the first quarter of 2013 mainly due to law and order situation, energy shortages and lower consumer’s disposable income.
However on yearly basis the Company’s profitability in second quarter 2013 jumped by 23 percent to Rs 1.6 billions with EPS of Rs 35.30 against PAT of Rs 1.3 billion with EPS of Rs 27.48 in the same period last year.
The topline of the Company jumped by 5 percent to the net sales of Rs 22.0 billion in the second quarter of 2013 while it stood at Rs 20.9 billion in the corresponding period of 2012 while gross profit of the Company for the second quarter 2013 period that ended on June 30, 2013 stood at Rs 6.7 billion, registering a growth of 15.0 percent over the gross profit of Rs 5.8 billion in the same period last year.
Similarly, the selling and distribution expenses soared by 25 percent to Rs 5.9 billion in first half of 2013 as against Rs 4.7 in similar period of previous year. It increased by 31 percent to Rs 3.4 billion in second quarter 2013 from Rs 2.6 billion in same quarter 2012.
Meanwhile, other income of the blue chips of the Company increased by 17 percent to Rs 106.7 million in the first half 2013 period as compared to the other income of Rs 90.9 million in the first six months period of 2012. Likewise it increased by 7 percent also in second quarter 2013 to Rs 56.9 million as against Rs 53.0 in the same quarter of 2012.
Gross profit before taxation of the Company stood at Rs 4.8 billion in first half of 2013, depicting an increase of 23 percent as against Rs 3.9 billion in the same period last year. It increased by 29 percent in second quarter 2013 to Rs 2.2 billion versus Rs 1.7 billion in same quarter 2012.
Daily Times - Leading News Resource of Pakistan
A1Kaid
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Excerpt: Pakistan posts big rise in tax revenues | GulfNews.com
Excellent job by the new Government, tax revenue is very important and widening the tax net is critical for boosting Government revenue and public services.
Panther 57
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It would have been an excellent job had they been able to generate revenue through direct taxes on those, who are eligible for taxation and yet don't pay. There current tax increasing measures are for their own interest. They are suppressing those who are already suppressed and paying taxes. These measures are drawing money from those who are compliant citizens.
1. GST increase and WHT on utilities - from those who are already paying
2. Income Levy Tax - From those who are filing income tax return and paying taxes.
Wealth tax was withdrawn in Gen (R) Musharaf’s era on the pretext of double taxation, as wealth declared is after tax has been paid. Those who have black money do not declare their wealth in “Wealth Statement”. In current budget an Income Support Levy has been imposed at the rate of 0.5% on all moveable assets above one million, that too w.e.f. from June 2013. It is a known fact that Wealth Statement is filed by only those who pay income tax and file IT return. Thus, genuine tax payers are squeezed yet again to compensate for those who evade tax.
3. Advance WHT on motor vehicle - NTN is must for buying a car so double taxation.
What is stopping them from putting non utilisation tax on those landlords who have cultivatable land and are not doing it. Or who are not taking remedial measures for that land which can be made cultivatable. Why they are not taxing those individual who are earning millions from their agricultural produce and not paying any tax. BTW this is taxable under individual income and is not an agriculture tax.
Instead they have given relief to corporates by reducing their rate of tax by 1%. Engro paid PKR2,015 million as tax for year 2012, at prevailing tax rate. If, Engro’s taxable income is same for 2013, it will have tax liability less by one percent, against 2012. This reduction in tax rate will allow Engro PKR57.57 Million an additional after tax profit, which ultimately goes to shareholders as dividend.
A1Kaid
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I am helping in the exports to US market of Pakistani surgical, dental, and medical instruments.
A1Kaid
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salman77
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Turkish bank to provide $300 million credit facility
Export Credit Bank of Turkey (Exim Bank) is to give $300 million credit facility to Pakistan for 2013-14 for which a formal pact will be signed during the 3-day (September 16-18) official visit of Prime Minister Nawaz Sharif to Turkey, well-informed sources told Business Recorder. Prime ministers of both countries will co-chair the third meeting of the High Level Co-operation Council (HLCC) to be held in Ankara on September 17, 2013.
The HLCC mechanism between Pakistan and Turkey was established during the visit of Prime Minister Erdogan to Pakistan in October 2009. The joint political declaration signed on the occasion provides HLCC "to oversee and steer the unique partnership and intensified co-operation between the two countries." The HLCC has thus far met twice - December 2010 in Ankara and May 2012 in Islamabad. During these meetings, 25 MoUs/agreements were signed between the two countries.
The Prime Minister would accord an opportunity to promote Pakistan as an investment destination despite a dispute between GoP and M/s Karkey Rental Power. A business forum with participation of leading Turkish companies is being planned on the sidelines of the visit. An energy forum is separately being planned to be held in Istanbul on September 6 where experts from the relevant Ministries would provide a detailed overview on the technical and financial aspects of feasible energy projects including measures concerning protection of investments, security and special incentive packages by the GoP.
Commenting on much delayed comprehensive Preferential Trade Agreement (PTA) the sources said it remains Pakistan's foremost priority. PTA negotiations between Pakistan and Turkey commenced in 2004. The progress has been intermittent ever since. The 4th round of technical negotiations took place in Islamabad on May 20, 2012.
Imposition of safeguard measures by Turkey on Pakistani textiles and chemicals has reinforced the need for a facilitative economic framework: following a high of $1 billion in 2011, the bilateral trade volume fell to $831 million in 2012 - Pakistani exports registering a decline of 36 percent. After Turkey failed to accede to Pakistan request for elimination of trade defence measures including safeguards and anti-dumping Pakistan has pushed in earnest for the conclusion of a "comprehensive" PTA giving comparative advantage to both sides.
The two sides have conveyed their offer and wish lists which are being evaluated. Turkey has also offered to host the next round of negotiations ahead of the HLCC; dates are being finalised. "It is our expectation that the process would be completed in time for the PTA to be signed during the HLCC," the sources continued.
FACILITATIVE FINANCIAL FRAMEWORK A Currency Swap Agreement (CSA) was signed between the Central Banks of Pakistan and Turkey in November 2011. Opening of respective bank branches still remains a work-in-progress. While Habib Bank retains token presence in Istanbul, there are no Turkish banks operating in Pakistan. Pakistan embassy in Ankara feels that Is Bank, Halk Bank and Asya Bank, three of the largest Turkish private banks could be attracted to the Pakistani market. Last year, the Is Bank unsuccessfully bid for the HSBC in Pakistan.
Likewise, during the last IEC, the two sides resolved to strengthen co-operation in their banking/insurance/commodity exchange sectors including the possibility of MoUs, between the Securities and Exchange Commission of Pakistan (SECP) and the Under-secretariat of Treasury of Turkey, and the Istanbul and Karachi Stock Exchange. This matter is being pursued by the Ministry of Finance/State Bank of Pakistan.
INVESTMENTS Pakistan and Turkey have bilateral agreement on reciprocal promotion and protection of investments (signed in 1995, renegotiated and signed afresh during the 2nd HLCC in Islamabad) and avoidance of double taxation.
Turkish footprint already exists in Pakistan energy, infrastructure and urban development sectors: A 50 MW wind power project at Jhimpir near Karachi has been commissioned by the "Zorlu Energi Pakistan Limited" (ZAPL) while another Turkish company, FIBA Holdings is at an advanced stage in negotiations for the establishment of a similar 50 MW wind energy project close to the site (the company has requested for an early issuance of licence by the AEDB, determination of power tariff and provision of grid connection by the NTDC). The 57-km Multan-Khanewal section of M-4 Motorway, 160-km Indus Highway, Lahore bypass of the M2, Water Supply of the Ormara Naval Base, etc, have also been constructed by Turkish companies. In Lahore, the Metro Bus Project and solid waste management system have a Turkish role.
According to sources, considerable scope for further Turkish investments especially in the energy (hydel/coal and wind) and infrastructure sectors exists. The Ministry of Water & Power has been directed to prepare a blue-print of workable projects along with their financial and technical feasibility, to be presented during the energy forum in Istanbul with a view to conclude agreements during the Prime Minister's visit.
Similarly, the possibility of engaging the Housing Development Administration (TOKI) of Turkey, in the construction of low-cost housing in Pakistan will be explored. An MoU for co-operation in the field of housing between TOKI and Pakistan's Ministry of Housing and Works was signed during the 1st HLCC meeting in Ankara in December 2010. TOKI would provide a detailed briefing to the Prime Minister during his visit.
Action-plan for joint-initiatives especially in sectors such as energy, infrastructure development, construction, communications and urban development and transportation are also being developed accordingly by the concerned ministries.
COMMUNICATIONS AND TRANSPORTATION Under a code sharing arrangement, Turkish Airlines operates 7 weekly flights to Karachi and Islamabad. The Turkish Airline has evinced keen interest in enhancing the frequency of these flights as well as adding Lahore as a new destination point. The issue is expected to be raised again at the leadership level. The Aviation Division has been requested to provide the necessary update.
Possibilities of collaboration in the Railways sector are also being discussed at different levels. During the last JEC, Pakistani side expressed interest in benefiting from Turkish experience in modernisation of the railways. In this regard, it was agreed that Pakistan would propose an MoU on areas of mutual co-operation.
Turkish bank to provide $300 million credit facility | Business Recorder
Export Credit Bank of Turkey (Exim Bank) is to give $300 million credit facility to Pakistan for 2013-14 for which a formal pact will be signed during the 3-day (September 16-18) official visit of Prime Minister Nawaz Sharif to Turkey, well-informed sources told Business Recorder. Prime ministers of both countries will co-chair the third meeting of the High Level Co-operation Council (HLCC) to be held in Ankara on September 17, 2013.
The HLCC mechanism between Pakistan and Turkey was established during the visit of Prime Minister Erdogan to Pakistan in October 2009. The joint political declaration signed on the occasion provides HLCC "to oversee and steer the unique partnership and intensified co-operation between the two countries." The HLCC has thus far met twice - December 2010 in Ankara and May 2012 in Islamabad. During these meetings, 25 MoUs/agreements were signed between the two countries.
The Prime Minister would accord an opportunity to promote Pakistan as an investment destination despite a dispute between GoP and M/s Karkey Rental Power. A business forum with participation of leading Turkish companies is being planned on the sidelines of the visit. An energy forum is separately being planned to be held in Istanbul on September 6 where experts from the relevant Ministries would provide a detailed overview on the technical and financial aspects of feasible energy projects including measures concerning protection of investments, security and special incentive packages by the GoP.
Commenting on much delayed comprehensive Preferential Trade Agreement (PTA) the sources said it remains Pakistan's foremost priority. PTA negotiations between Pakistan and Turkey commenced in 2004. The progress has been intermittent ever since. The 4th round of technical negotiations took place in Islamabad on May 20, 2012.
Imposition of safeguard measures by Turkey on Pakistani textiles and chemicals has reinforced the need for a facilitative economic framework: following a high of $1 billion in 2011, the bilateral trade volume fell to $831 million in 2012 - Pakistani exports registering a decline of 36 percent. After Turkey failed to accede to Pakistan request for elimination of trade defence measures including safeguards and anti-dumping Pakistan has pushed in earnest for the conclusion of a "comprehensive" PTA giving comparative advantage to both sides.
The two sides have conveyed their offer and wish lists which are being evaluated. Turkey has also offered to host the next round of negotiations ahead of the HLCC; dates are being finalised. "It is our expectation that the process would be completed in time for the PTA to be signed during the HLCC," the sources continued.
FACILITATIVE FINANCIAL FRAMEWORK A Currency Swap Agreement (CSA) was signed between the Central Banks of Pakistan and Turkey in November 2011. Opening of respective bank branches still remains a work-in-progress. While Habib Bank retains token presence in Istanbul, there are no Turkish banks operating in Pakistan. Pakistan embassy in Ankara feels that Is Bank, Halk Bank and Asya Bank, three of the largest Turkish private banks could be attracted to the Pakistani market. Last year, the Is Bank unsuccessfully bid for the HSBC in Pakistan.
Likewise, during the last IEC, the two sides resolved to strengthen co-operation in their banking/insurance/commodity exchange sectors including the possibility of MoUs, between the Securities and Exchange Commission of Pakistan (SECP) and the Under-secretariat of Treasury of Turkey, and the Istanbul and Karachi Stock Exchange. This matter is being pursued by the Ministry of Finance/State Bank of Pakistan.
INVESTMENTS Pakistan and Turkey have bilateral agreement on reciprocal promotion and protection of investments (signed in 1995, renegotiated and signed afresh during the 2nd HLCC in Islamabad) and avoidance of double taxation.
Turkish footprint already exists in Pakistan energy, infrastructure and urban development sectors: A 50 MW wind power project at Jhimpir near Karachi has been commissioned by the "Zorlu Energi Pakistan Limited" (ZAPL) while another Turkish company, FIBA Holdings is at an advanced stage in negotiations for the establishment of a similar 50 MW wind energy project close to the site (the company has requested for an early issuance of licence by the AEDB, determination of power tariff and provision of grid connection by the NTDC). The 57-km Multan-Khanewal section of M-4 Motorway, 160-km Indus Highway, Lahore bypass of the M2, Water Supply of the Ormara Naval Base, etc, have also been constructed by Turkish companies. In Lahore, the Metro Bus Project and solid waste management system have a Turkish role.
According to sources, considerable scope for further Turkish investments especially in the energy (hydel/coal and wind) and infrastructure sectors exists. The Ministry of Water & Power has been directed to prepare a blue-print of workable projects along with their financial and technical feasibility, to be presented during the energy forum in Istanbul with a view to conclude agreements during the Prime Minister's visit.
Similarly, the possibility of engaging the Housing Development Administration (TOKI) of Turkey, in the construction of low-cost housing in Pakistan will be explored. An MoU for co-operation in the field of housing between TOKI and Pakistan's Ministry of Housing and Works was signed during the 1st HLCC meeting in Ankara in December 2010. TOKI would provide a detailed briefing to the Prime Minister during his visit.
Action-plan for joint-initiatives especially in sectors such as energy, infrastructure development, construction, communications and urban development and transportation are also being developed accordingly by the concerned ministries.
COMMUNICATIONS AND TRANSPORTATION Under a code sharing arrangement, Turkish Airlines operates 7 weekly flights to Karachi and Islamabad. The Turkish Airline has evinced keen interest in enhancing the frequency of these flights as well as adding Lahore as a new destination point. The issue is expected to be raised again at the leadership level. The Aviation Division has been requested to provide the necessary update.
Possibilities of collaboration in the Railways sector are also being discussed at different levels. During the last JEC, Pakistani side expressed interest in benefiting from Turkish experience in modernisation of the railways. In this regard, it was agreed that Pakistan would propose an MoU on areas of mutual co-operation.
Turkish bank to provide $300 million credit facility | Business Recorder
salman77
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Mangoes dispatched to new market Australia
MULTAN - An export consignment comprising 600 kilograms of mangoes was dispatched on Wednesday to Karachi for onward destination - Australia.
Pakistan Horticulture Development and Export Company General Manager Abdur Razzaq while talking to APP informed that the department had been engaged in hectic efforts to export mangoes to Australia during the last four years. He explained that Australian importers had some reservations earlier but the department addressed those professionally.
"The mangoes underwent hot water treatment in Shujaabad, 44 kilometres from Multan city, and were despatched in line with the high standards of health," he said. Abdur Razzaq added that efforts were also being made to start export of mangoes and vegetables to South Korea, Lebanon and Mauritius.
Fareed Khan Khakwani, farm owner, expressed that export of mangoes from his farm was a matter of pride for him. "If Pakistan finds new markets for its delicious mangoes it would do well for the national economy as more foreign exchange would be coming to Pakistan."
Mangoes dispatched to new market - Australia | Pakistan Today | Latest news | Breaking news | Pakistan News | World news | Business | Sport and Multimedia
MULTAN - An export consignment comprising 600 kilograms of mangoes was dispatched on Wednesday to Karachi for onward destination - Australia.
Pakistan Horticulture Development and Export Company General Manager Abdur Razzaq while talking to APP informed that the department had been engaged in hectic efforts to export mangoes to Australia during the last four years. He explained that Australian importers had some reservations earlier but the department addressed those professionally.
"The mangoes underwent hot water treatment in Shujaabad, 44 kilometres from Multan city, and were despatched in line with the high standards of health," he said. Abdur Razzaq added that efforts were also being made to start export of mangoes and vegetables to South Korea, Lebanon and Mauritius.
Fareed Khan Khakwani, farm owner, expressed that export of mangoes from his farm was a matter of pride for him. "If Pakistan finds new markets for its delicious mangoes it would do well for the national economy as more foreign exchange would be coming to Pakistan."
Mangoes dispatched to new market - Australia | Pakistan Today | Latest news | Breaking news | Pakistan News | World news | Business | Sport and Multimedia
Argus Panoptes
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Ask @Argus Panoptes this question, you know what kind of answer he will give...
The answer is bound to be truthful.
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A.Rafay
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The answer is bound to be truthful.
I remember you saying that rupee will hit 150 at the end of this govts term.
Argus Panoptes
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I remember you saying that rupee will hit 150 at the end of this govts term.
Well, it is 104.33 already and it has only been a few months of this government. Another 4 years or so and it will get to 150. The new loans taken from IMF will ensure such a great fall.
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