CAA stops Shaheen Air flights NL768/NL892 despite court resumption orders

The Pakistan Civil Aviation Authority (PCAA) has stopped Shaheen Air flights NL768/NL892 operating from Lahore to Muscat (LHE-MCT) & Lahore to Canton (LHE-CAN) despite of reportedly court orders being issued to CAA over resumption of all SAI operations.

It is pertinent to mention that Sindh High Court had earlier suspended the operation of letter of 13 July 2018 in which CAA had illegally tried to stop all international operations of Shaheen Air except for Saudi Arabia.

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Pakistan’s Liquid Foreign Reserves Position

The total liquid foreign reserves held by the country stood at US$15,682.5 million on 13July2018.The break-up of the foreign reserves position is as under: –

  1. Foreign reserves held by the State Bank of Pakistan: US$ 9,063.6 million
  2. Net foreign reserves held by commercial banks : US$ 6,618.9
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KATI sees devalued rupee as a threat for industry

Korangi Association of Trade & Industry (KATI) anticipated devaluation of rupee as a great threat to industrial sector in the country. In a joint statement President Tariq Malik, Senior Vice President Salman Aslam and Vice President of the Association Junaid Naqi showed deep concerns over weakening rupee.

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FPCCI laments tight Monetory Policy

Syed Mazhar Ali Nasir, Sr. Vice President & Chairman Budget Advisory Council of the Federation of Pakistan Chambers of Commerce & Industry (FPCCI) referring to the raise in policy rate by 100 basis points (bps) to 7.50 percent per annum w.e.f

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DP World signs agreement to boost international trade

An agreement to jointly construct a new ‘Traders Market’ at DP World’s flagship Jebel Ali Port and Free Zone in Dubai on a total build up area of three million square metres has been signed between the global trade enabler and the Zhejiang China Commodities City Group, providing further impetus to China’s Belt and Road Initiative.

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Deputy Chairman Senate of Pakistan Saleem Mandviwalla visits KCCI

Chairman Businessmen Group & Former President KCCI Siraj Kassam Teli and Acting President KCCI Abdul Basit Abdul Razzak presenting crest to Deputy Chairman, Senate of Pakistan Saleem Mandviwalla during his visit to KCCI. Vice Chairman BMG & Former President Haroon Farooki, Former Presidents AQ Khalil and Shamim Ahmed Firpo, Junaid Esmail Makda, Khurram Shehzad, Asif Shaikh Javed, Ghani Usman and Muhammad Rafi are also seen in the picture.

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SBP seeks public comments for promotion of low cost housing finance

Housing sector in various economies serves as an engine of economic growth. It has the potential to generate employment, increase productivity, raise standard of living and alleviate poverty.

Pakistan, like other developing countries, has been facing shortage of housing units; and this basic human need is felt more profoundly at the bottom-of-the-pyramid comprising of the poor and financially under-served segments of the society.

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