Thursday, February 09, 2012, Rabi-ul-Awal 16, 1433
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Business & Finance
Motorcycle, car production increasesStaff Reporter Islamabad—The production of motorcycles increased by 10.65 percent during the first five months of the current fiscal year as against the same period of last year. As many as 692,368 motorcycles were produced during July-November (2011-12) as against the production of 625,742 units during July-November (2010-11), according to Pakistan Bureau of Statistics (PBS) figures.
The motorcycle production witnessed increase of 0.77 percent during the month of November 2011 as compared to the production of the same month of last year. Motorcycle production during November 2011 was recorded at 135,302 units against the production of 134,266 units during November 2011.
ABF concerned over SBP report on banking practicesStaff Reporter Islamabad—President American Business Forum (ABF) Salim Ghauri has expressed deep concerns over State Bank of Pakistan (SBP) latest report regarding practice of scheduled banks massively investing in government papers, including 82% of entire treasury bills and 89% of Islamic Sukuk bonds.
He said the banking sector in Pakistan is reluctant in extending loans to private sector, adding further pressure on economy in a situation when both inflationary pressure coupled with fiscal and trade deficits was dampening economic growth of the country.
CNG safety task force reviews progressStaff Reporter Islamabad—A meeting of the Ministerial CNG Safety Task Force, chaired by Mr. Hamid Asghar Khan Joint Secretary (Admn) was held today in the Ministry of Petroleum & Natural Resources to review progress of the Task Force and to share recommendations of the Oil & Gas Regulatory Authority (OGRA) regarding safety of CNG cylinders / kits. The meeting was attended by senior officers of OGRA, Hydrocarbon Development Institute of Pakistan (HDIP) and Chairman All Pakistan CNG Association (APCNGA).
Facilities soon to up dates exports upto $200mStaff Reporter Islamabad—The country’s dates exports can be enhanced up to $200 million provided proper processing and packaging facilities are provided at farm level, Chief Executive Officer Harvest Tradings, Ahmad Jawad said. “Since dates are perishable in nature, processing and packing facilities should be provided at farms to tap full potential of the crop”, Ahmad said.
HEC accords top rating W4 category to UMTKhalid Butt Lahore—The University of Management and Technology (UMT), Lahore, has been awarded W4 rating by the Higher Education Commission (HEC) of Pakistan, vide notification issued on February 02, 2012, which is the highest university ranking. It is worth mentioning that UMT is the first university in the Punjab to receive this highest rating.
It should be noted that UMT has received W4 rating as a consequence of the inspection of the University on December 30, 2011 by a Committee approved by the HEC. Based on the information provided by the Quantitative Assessment Form (QAF) and recommendations by the Committee, the Chairman HEC approved W4 rating for UMT.
Two commodity exchanges to be established: SECPTariq Khattak Islamabad—Two commodity exchanges would be established in the country to fulfil the domestic requirements as well as to create healthy business environment and competitation. The commodity exchanges will be established by June this year as after completing the basic frame work which would also help the agri-farmers to sell their products on global competitive prices, said Chairman Securities and Exchange Commission of Pakistan (SECP).
Irrigation sources inevitable for agricultural productionStaff Reporter Peshawar—Deputy Speaker, Khyber Pakhtunkhwa Assembly, Khushdil Khan advocate has said that increase in irrigation sources is inevitable for capacity building of agricultural production.
Addressing inauguration ceremony of the augmentation for the overcoming the shortage of irrigation water in Oach Nehr (Dry River) in Badhber here Wednesday, he said that barren land could be cultivated only through provision of irrigation water.
DRA need of the timeStaff Reporter Lahore—Recent events have clearly shown that there is an urgent need for the Formation of a National Drug Regulatory Authority (DRA) that must work with the pharmaceutical industry to establish a transparent regulatory framework focused on the provision of quality healthcare for all. This was disclosed by President Business Forum of Punjab Ibrahim Qureshi in a press conference here yesterday. President Lahore of Business Forum of Punjab Mian Asad Shuja ur Rehman, Senior Vice President Lahore of Business Forum of Punjab Khawaja Shahzeb Akram, office bearers of Business Forum and Pharmaceutical Manufacturers Association were also present on this occasion.
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