Tag: Sectors

WASHINGTON - Saudi Arabia is interested in investing in Pakistan's energy and agriculture sectors, Finance Minister Abdul Hafeez Shaikh said after meeting his counterpart from the oil-rich country.
Dr Shaikh and Saudi Finance Minister Dr Ibrahim Bin Abdulaziz Al-Assaf discussed investment opportunities that Pakistan holds out for Saudi businesses at a meeting on the occasion of semi-annual IMF-World Bank gathering.
"We have very close and longstanding relationship with Saudi

ISLAMABAD - With exports expected to reach $25 billion in this fiscal year, the government on Friday rescinded its decision to impose general sales tax at a rate of 17 percent on five major export oriented sectors and extended the facility of paying four percent or six percent sales tax, as specified in the conditions.
An official source revealed that the facility was re-granted, as the government was keen to maintain the momentum of $2.0 billion monthly exports. He said that

Karachi - The cement sector profitability analysis for the 2QFY11, based on sample size comprises of 17 listed companies, disclosed that losses to the sector have dwindled compared to the corresponding period of last year. In spite of lower cement demand, net loss stood at Rs 794 million compared to a loss of Rs 1,597 million last year, while net sales of the sector have improved by an annual 18 percent as a result of the 24 percent annual increase in average cement price. Although,

KARACHI - The State Bank of Pakistan (SBP) has advised banks, development finance institutions (DFIs) and microfinance banks (MFBs) to submit claims for second installment of the government's mark-up rate subsidy under Fiscal Relief Package (FRP).
The FRP is a government facility provided to augment eligible sectors other than the textile industry in war-torn Khyber Pakhtunkhwa and federally and provincially administered tribal areas of the country. According to a Circular

ISLAMABAD - Germany and Pakistan have agreed to enhance cooperation in economic, trade and investment fields and to initiate a strategic dialogue to boost bilateral ties, said a joint statement issued here by the foreign office on Monday.
These developments were result of Germany's Vice Chancellor and Foreign Minister Guido Westerwelle's visit to Pakistan on January 8th and 9th.
Westerwelle held meetings with Foreign Minister Shah Mahmood Qureshi and Prime Minister Yusuf

LAHORE: The US is keen to strengthen the infrastructure, education, energy and health sectors of Pakistan and would also allocate funds for these sectors, US Coordinator for Non-Military Assistance to Pakistan Robin Raphel said on Tuesday while talking to a selective group of journalists.
She said that the US wants to fund programmes associated with infrastructure development and energy. Raphel said that the federal and provincial governments would be contacted in this regard

KARACHI
The telecommunications and thermal power companies have far outstripped other multinational companies (MNC) in the country in the repatriation of their profits to their home bases, in the first quarter of 2011.
Telecommunications companies, operating in Pakistan, transferred abroad 50 million dollars in profit and dividends, displaying a considerable rise in the repatriation of the profit of 34 percent compared to the same time in the previous year. Similarly, the