Tuesday, February 07, 2012, Rabi-ul-Awal 14, 1433
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Business & Finance
Economy to grow at 4 per cent: HafeezPakistan, Iran have great potential to enhance cooperation: Ali SaeedlouStaff Reporter Islamabad—Federal Minister for Finance, Dr Abdul Hafeez Shaikh said Monday that country’s economy would grow at 4 percent during the current fiscal year (2011-12). “Despite challenges, the GDP growth would reach to 4 percent this year,” the Federal Minister said while addressing the inaugural session of Pakistan-Iran Bilateral Economic meeting here.
Shaikh said that at a time when the world economy is passing through recession, the economy of Pakistan has been showing positive signs towards growth.
Rising car prices to pave way for imported carsAmanullah Khan Karachi —local automobile makers are likely to pass on the impact of rising cost of production to customers with slight surge in the prices of cars and light commercial vehicles. The increase in locally produced car prices would certainly pave the way for the import of used vehicles which would have a double impact on the economics of the local automobile industry, sources said
The inflated petroleum prices, hike in electricity tariff and soaring expense on imported CKD kits compounded the huge burden upon automobile makers on the account of additional production cost, unbearable for them to adjust in their routine operational expenses.
Key drivers in ten important SME playersAmanullah Khan Karachi —Key drivers in ten important and active SME players are being developed with an objective to facilitate them to contribute effectively in the economic growth of the country. The clusters selected for the survey include: Cotton Ginning, Marble and Marble Products, Plastic Products, Hand-made Carpet Manufacturing, Leather Products, Dry-cleaning and Laundry services, Beauty parlors and Spa, Super markets and Retail shops, Printing Press and Gem & Jewelry.
Era of falling food prices comes to endMonitoring Report THE era of falling food prices has come to an end with the world population set to add another 2 billion people, according to Cargill Inc., the U.S. farm commodities trader. The United Nations’ Food and Agriculture Organization has said global food output must rise 70 percent by 2050 to feed a world population expected to grow to 9 billion from 7 billion now and as increasingly wealthy consumers in developing economies eat more meat. Food prices tracked by the FAO climbed to the highest ever a year ago on surging grain prices.
CM announces distribution of 6,000 tractors on 50pc subsidyStaff Reporter Karachi—The Chief Minister of Sindh, Syed Qaim Ali Shah, has announced distribution of 6,000 tractors among growers at 50 percent subsidized rate. He said that agriculture is the backbone of economy of the country, particularly for the Sindh province and it is endeavour of present government to endorse all facilities for the development of agriculture sector.
Syed Qaim Ali Shah while presiding over a high level meeting of Agriculture Department and Planning and Development Department at C.M. House here on Monday.
PTCL trains 29 management trainees in business skillsStaff Reporter Islamabad—Pakistan Telecommunication Company Limited (PTCL) has successfully trained 29 young engineers as management trainees and future leaders of tomorrow who posses sound knowledge of the telecom giant as well as the telecommunications industry of Pakistan.
Growth in AJK close to Malaysia’s: YaqoobStaff Reporter
Samba Bank opens new branchesStaff Reporter Islamabad—Samba Bank Limited (SBL) has opened two new branches in Allama Iqbal Town, Lahore and F-7, Islamabad, with the latter also housing the Area office for Northern Areas. The branches were inaugurated by Dr. Shujaat Nadeem (Member of the Board of Samba Bank Limited), in the presence of Mr. Tawfiq A. Husain, President and CEO, and senior management of the Bank.
Commenting on the occasion, Mr. Tawfiq A. Husain, President & CEO, Samba Bank Limited, said; “SBL is constantly improving its footprint in Pakistan, while developing and promoting its alternate distribution channels.
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