Turkey should remove local preventive in PTA/FTA with Pakistan, this was stated by Engr. Daroo Khan Achakzai, President of the Federation of Pakistan Chambers of Commerce and Industry in a press release issued. He said that in the past textile exports to Turkey was based on normal tariffs of imports but later Turkey imposed protective duties i.e.
The total liquid foreign reserves held by the country stood at US$14,259.3 million on 05July2019.The break-up of the foreign reserves position is as under:-
Foreign reserves held by the State Bank of Pakistan : US$ 7,083.6 million
Net foreign reserves held by commercial banks : US$ 7,175.7 million
Total liquid foreign reserves : US$ 14,259.3 million
During the week ending 05July2019, SBP’s reserves decreased by US$189 million to US$7,083.6 million, due to payments on account of external debt servicing.
Telecommunications has accelerated development of key sectors, spurring economic growthand opening countless avenues to empower individuals and societies, saidIrfanWahab Khan, Head of Telenor Group’s Emerging Asia Cluster and CEO of Telenor Pakistan, at the Mobile World Congress (MWC) in Shanghai.His keynote atMWC, ‘Pioneers of Intelligent Connectivity’, also shed light on how intelligent connectivity and Telenor Group’s disruptive innovation are transforming lives of millions, enabling basic civic rights through mobilebirth registrationand equipping the unbanked with mobile financial services, among others.
This year’s Young Leaders Conference was another success with all the activities influencing and empowering the participating youth. This year the conference aimed to be bigger and better by hosting and training hundreds of students and young professionals from all across Pakistan equipping them with the skills and knowledge to bring about change in their communities.
President Pakistan Businessmen and Intellectuals Forum (PBIF), President All Karachi Industrial Alliance (AKIA), Senior Vice Chairman of the Businessmen Panel of FPCCI and former provincial minister, Mian Zahid Hussain on Wednesday said ineffectiveness of SAARC is dragging down the whole region and frustrating efforts to reduce poverty.
Pak-Qatar Family Takaful Limited (PQFTL) opened its Timergara branch in Khyber Pakhtunkhwa recently. The new branch was inaugurated by the Deputy CEO of Pak-Qatar Family Takaful, Muhammad Menhas along with senior members of regional team. This new branch will create great convenience and provide a wide range of Takaful services to a vast number of consumers, living in Timergara and its surrounding areas.
Pakistan Vanaspati Manufacturers Association demanded to abolish additional 5pc custom duty and 3 pc Value Added Tax on imported edible oils, immediately. Office bearers of the association demanded this during a meeting with Traders of edible oils and Vanaspati Ghee. It was noted that Pakistan is the third largest importer of edible oils in the world which costs more than 2.5 billion annually and also imports oil seeds valued 1.5bn yearly.
President Karachi Chamber of Commerce and Industry Junaid Esmail Makda speaks at the Annual Environment Conference at local hotel Karachi
Overseas Pakistani workers remitted US $21,841.50million during FY19 showing a growth of 9.68% compared with US $19,913.55million received during the same period in the preceding year. During June 2019, the inflow of worker’s remittances amounted to US $1,650.52 million, which is 28.72% lower than May 2019 and 1.40% higher than June 2018.