Tag: Percent

The exports from Export Processing Zones Authority (EPZA)during the period from July 2010 to April 2011 registered record growth of 39 percent. According to...

With the people already reeling from prolonged power outages and an increase in the electricity tariff, the Oil and Gas Regulatory Authority (OGRA) recommended...

KARACHI - The country's trade deficit has narrowed down by 2.24 percent or $184 million during the first nine months of the current financial year. The country's economic managers might be drumming the victory beats on the back of healthy inflows of dollars on account of exports and home remittances that put country's external sector in green - witnessing a surplus of $1.6 billion in July-February of FY11. A robust growth in exports and relatively lower imports are believed to have

ISLAMABAD - The food group export from the country during last nine months of current financial year registered an increase of 25.55 percent as compared to the same period of last financial year.
Food commodities worth US$ 3.083 billion were exported during the period from July to March 2010-11 as against the US$ 2.455 billion of the year 2009-10, said the figures released by the Federal Bureau of Statistic on Tuesday.
The export of basmati rice increased by 4.67 per cent

ISLAMABAD - Minister for Commerce Amin Fahim on Friday apprised the National Assembly that Pakistan's exports had exhibited a tremendous upsurge in 2010-11 (July-March) and touched $17.799 billion compared to $14.072 billion in the corresponding period of last year.
"Our exports have registered an increase of 26.5 percent in the year 2010-11", he said in reply to a question asked by Mian Marghoob Ahmad of PML-N during the question-hour session. He said that since March 2008 till

ISLAMABAD - The National Assembly's Standing Committee on Defence on Thursday recommended an 18 percent increase in the defence budget for the year of 2011-1012.
MNA Haider Ali Shah, a member of the committee, told Pakistan Today that the committee was given a presentation on the budget proposals for the next year, adding that it was briefed that the devaluation of the rupee and the expenditure in operations conducted in Swat, Bajaur and South Waziristan were major reasons for

ISLAMABAD - Pakistan's economy is expected to grow 4 percent in the coming financial year starting July 1, picking up steam again after devastating floods pushed back growth to around 3 percent this year, officials said on Thursday.
"We are looking at a growth rate of 4 percent for the next year because of a good services sector and on hopes of better farm output," said a Finance Ministry official who did not want to be identified. The figure compares with a 3.7 percent growth

KARACHI - Pakistan Mercantile Exchange Limited (PMEX), the country's de-mutualised commodity exchange has seen trading volumes continuing to hit historic highs. The exchange now plans to further expand in the commodities listed at the Exchange during the current financial year.
The PMEX management indicates that the new items to be listed on the commodity market by the year's end will include sugar, wheat, maize, basmati rice and currency futures. Currently, trading on the PMEX

KARACHI - Cement manufacturers have said that the country's cement exports and dispatches declined, respectively, by 14.46 and 7.86 percent during first nine months of the current fiscal year.
According to data released by All Pakistan Cement Manufacturers Association (APCMA), cement dispatches during July-March FY11 amounted to 16.017 million tonnes, showing a decline of 7.86 percent when compared to dispatches of 17.383 million tonnes achieved during the corresponding period

ISLAMABAD - Exports of services from Pakistan surged by 55.69 percent during the first seven months of current fiscal year as against the same period of last year.
The overall export of services was recorded at US$3.424 billion during July-January (2010-11) as against the exports of US$2.199 billion during the corresponding period of last year, according to data of Federal Bureau of Statistics.
The services that contributed in the positive growth in exports included

HONG KONG - The world's highest hotel opened its doors in Hong Kong on Tuesday, housed in the city's tallest skyscraper and offering unrivalled panoramic views of the world famous Victoria Harbour.
Towering some 490 metres (1,600 feet) above the bustling, chaotic streets of the Southern Chinese city, the Ritz-Carlton Hotel is making a grand comeback after temporarily closing in 2008.
Visitors peered out of the floor-to-ceiling windows of the 118th floor of the International

KARACHI - While the cash-starved federal government seems to have finally embarked upon a serious campaign to generate more money through taxing the taxpayers, almost half of its revenues, 45 percent, are going to its creditors from the central and scheduled banks.
This was revealed by the State Bank of Pakistan (SBP) in its Monetary Policy Statement issued on Saturday. The State Bank said while the government's total debts had witnessed a year-on-year growth of 14.8 percent,

Central bank expected to leave its key policy rate unchanged at 14 percent when it meets on Saturday for the subsequent two months because of an improving external current account and some respite in government borrowing.
Pakistan's current account deficit for July-February period was a provisional $98 million, compared with a deficit of $3.027 billion in the same period last year, which provides a window of opportunity for the State Bank of Pakistan to keep the key policy rate

KARACHI - Habib Bank Limited (HBL), one of the country's leading commercial banks, has acquired some nine percent more ordinary shares in the New Jublee Life Insurance Company Limited (NJLI). The fresh acquisition of 5.4 million more ordinary stocks has increased the aggregate shareholding in the insurance company to 17.95 percent.
In September last year, HBL acquired additional 5.4 million ordinary shares of the NJIL at Rs 10 each, the bank informed its shareholders at Karachi

KARACHI - A 33 percent budgetary reduction has been made in the revised Annual Development Programme (ADP) for 2010-11, with the original allocation of Rs 115 billion slashed to Rs 77 billion, announced Planning & Development (P&D) Additional Chief Secretary Muhammad Ishaque Lashari in a meeting at the CM House.
The meeting - held on Friday but a notification issued on Saturday - was summoned by Chief Minister Qaim Ali Shah to review the progress in the ADP for 2010-2011.

ISLAMABAD - The Export Processing Zones Authority (EPZA) has done tremendous job as the Authority has shown a record growth of 69 percent between July 2010 and February 2011 as compared to July 2008 and February 2009, said Ministry of Industries and Production Secretary Abdul Ghaffar Soomro. Soomro in a statement on Thursday lauded the EPZA's efforts in the enhancement of exports which will work towards the recovery of the national economy.
He asserted that the management of

ISLAMABAD - Car sales have increased by 12 percent in the first seven months of the current fiscal year to reach at 72,580 units compared to 64,965 units in the corresponding period last year. Car sales on month-on-month basis also witnessed a substantial rise of 73 percent to stand at 12,934 units in January 2011 against 7,446 units in December 2011, according to data maintained by Pakistan Automotive Manufacturers Association (PAMA).
The highest growth was observed in the case