Salman Aslam becomes chairman of Pakistan Indonesia Business Council of FPCCI

The Federation of Pakistan Chambers of Commerce & Industry (FPCCI) has appointed Muhammad Salman Aslam as chairman of Pakistan Indonesia Business Council for year 2018. According to a notification released by FPCCI it was hoped that newly appointed chairman of the council will play effective and active role to promote and strengthen bilateral trade and business relation between Pakistan and Indonesia.

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Bank Alfalah team visits Korangi Association of Trade and Industry

Members of the Bank Alfalah senior management team, including three Group Heads, Mehreen Ahmed (Group Head Retail Banking), Mr Bilal Asghar (Group Head Corporate, Investment Banking & International Business), Syed Ali Sultan (Group Head Treasury, Capital Markets & Financial Institutions), along with other bank employees, visited the Korangi Association of Trade and Industry (KATI) to interact with members of the association, industrialists and businessmen.

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SBP and Karandaaz join hands for Regulatory Framework on Digital Banks

State Bank of Pakistan and Karandaaz signed an agreement in Islamabad under which Karandaaz will support State Bank’s efforts to create an enabling environment based on international best practices for digital banks. Karandaaz will provide technical assistance to the State Bank of Pakistan for formulating legal and regulatory framework including licensing criteria for digital banks in Pakistan.

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FPCCI urges the FBR to stop issuance of audit notices, raids and visit of tax official to Commercial Importers

The Federation of Pakistan Chambers of Commerce & Industry (FPCCI) has urged the Federal Board of Revenue (FBR) to restore the audit immunity to Commercial Importers who pay advance Sales Tax @ 3% under Special Procedure for Payment of Sales Tax by Commercial Importers Rules, 2006 and income tax @ 6% under Section 148 of Income Tax Ordinance 2001 at Customs stage as full in final discharge of their tax liability.

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Engro Foods signs MoU with Greenland Zone to revolutionize Pakistan’s Dairy Sector

Engro Foods Limited – a leading enterprise in packaged milk and dairy products has signed a Memorandum of Understanding (MoU) with Greenland Zone – a progressive provider of farm machinery and financial assistance for the agricultural sector. The objective of this collaboration is to enhance the productivity of dairy farms, by facilitating the acquisition of modern farm machinery and equipment, while imparting valuable training to the farmers for capacity-building.

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Senator Saleem Mandviwalla felicitated Chinese President Xi Jinping

Deputy Chairman Senate Senator Saleem Mandviwalla has felicitated Chinese President Xi Jinping on becoming President of People’s Republic of China for life. In a statement, Deputy Chairman Senate has said that “Under the President XI Jingping Era China decided to finance the CPEC projects in Pakistan as the first leg of its ambitious Belt and Road Initiative”. 

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Swiss Consul General inaugurates Plastic, Printing & Packaging in Karachi

Pakistan has improved the confidence of foreign investors through actions taken for betterment of security and continuous economic growth, Philippe Crevoisier, Consul General of Switzerland in Karachi said on Friday. “I see progress in law and order situation in Pakistan. Besides commercial and economic activities in the country are very impressive,” he said while inaugurating the 14th International Plastic, Printing and Packaging Exhibition held at Expo Center Karachi.

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FPCCI delegation to visit Nepal to attend SBLC

A 50-Member FPCCI Delegation will leave for Nepal to participate in 6th SAAR Business Leaders Conclave (SBLC) to be held from 16 to 18 March 2018 at Kathmandu, Nepal which is being organized by SAARC Chamber of Commerce & Industry with the cooperation of all National / Federation Chambers of SAARC member countries.

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Mian Zahid Hussain urges registration of informal dairy sector

President Pakistan Businessmen and Intellectuals Forum (PBIF), President AKIA, Senior Vice Chairman of the Businessmen Panel of FPCCI and former provincial minister Mian Zahid Hussain on Friday said the dairy sector is neglected by the policy makers and Government due to which it couldn’t support the national economy according to its potential.

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Pakistan’s liquid foreign reserves position 09March 2018

According to State Bank of Pakistan, the total liquid foreign reserves held by the country stood at US$18,240.4million on 09March2018.The break-up of the foreign reserves position is as under:-

Foreign reserves held by the State Bank of Pakistan: US$12,125.7million

Net foreign reserves held by commercial banks: US$6,114.7million

Total liquid foreign reserves     : US$18,240.4 million

During the week ending 09March2018,SBP’sreserves decreased by US$107million to US$12,126 million, due to external debt servicing and other official payments.

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