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Pak‘s economy offers best opportunity for telecom sector: PM

19. August 2008

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ISLAMABAD Prime Minister Syed Yousuf Raza Gilani has said that Pakistan’s economy offers best opportunity for the telecom sector as the government is committed to provide level playing field for their operations. The Prime Minster said this in a meeting with Ms. Chua Sock Koong, President Group CEO SingTel, Singapore and Mr. Bashir A Tahir, [...]

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Citibank to distribute BMA capital protected fund

19. August 2008

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KARACHI Citibank, N.A. Pakistan (Citi) announced that it would be using its nationwide branch network to distribute units of the BMA Capital Protected Fund (BCPF). A product of BMA Asset Management Company Limited (”BMA Funds”), the BCPF mutual fund will be distributed by Citi in an effort to provide a broad range of investment options [...]

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NBP employees’ salaries increased

17. August 2008

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ISLAMABAD: The National Bank of Pakistan (NBP) management has increased salaries upto 17 percent to all its employees by way of Dearness Allowances. According to a statement issued by the NBP here this decision was taken keeping in view of the rising cost of living in the country. Popularity: 28% [?]

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Pakistan don’t apply for loan: IMF

17. August 2008

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LONDON: Pakistan does not need to turn to the International Monetary Fund (IMF) for money in the next10 months if the government cuts spending and gets other sources of funding to offset falling reserves, a senior IMF official said. Mohsin Khan, IMF’s director for the Middle East and Central Asia, said Pakistan had not asked [...]

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Two-day seminar on rural development in Pakistan

16. August 2008

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ISLAMABAD: The Ministry of Local Government and Rural Development is organizing a two days International seminar on successful models in capacity development for local self governance towards urban renewal and rural reconstruction at Akhtar Hameed Khan National Centre for Rural Development and Municipal Administration (AHKNCRD&MA), Chak Shahzad, Islamabad. Popularity: 15% [?]

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Pir Fazal Hussain appointed as FLC Chairman

16. August 2008

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ISLAMABAD: Federal government has appointed Pir Fazal Hussain as Chairman of Federal Land Commission. According to details, in exercise of the powers conferred by Section 23 of the Land Reforms Act, 1977, the Federal Government is pleased to appoint Pir Fazal Hussain Shah, MNA as Chairman of Federal Land Commission, on honorary basis with the [...]

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OPEC should be formed Cheap oil era over

16. August 2008

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Islamabad: Era of cheap oil is over forever and economies of whole world are reeling due to unprecedented oil prices rocketing out of sight. The crunch can be taken as a wake-up call in the oil consuming countries to be united for the future of humankind. Popularity: 15% [?]

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Govt agencies should facilitate new investments

10. August 2008

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ISLAMABAD: Pakistan is facing tough economic conditions and only vibrant economic activities can enable the country to meet the challenges. Hence, all the government agencies should facilitate new investments and encourage business and traders community by providing a conducive business environment, said Munawar Iqbal, Senior Vice President of Islamabad Chamber of Commerce and Industry (ICCI) [...]

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FPCCI for completion of reform process in FBR

9. August 2008

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KARACHI: Federation of Pakistan Chambers of Commerce and Industry (FPCCI) has demanded of the government to take the reforms process in Federal Board of Revenue to its completion. The demand was made at a farewell luncheon hosted by FPCCI in honour of former FBR Chairman Abdullah Yousuf. President SAARC Chamber, Tariq Saeed, in his address [...]

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Govt’s policies hitting economy: Salman Shah

9. August 2008

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KARACHI: Policies of the present government impacting negatively on the economy. Talking to private TV channel, Dr. Slaman Shah said that the greatest problem of the economy was the distrust of the investors. Elaborating, he said that foreign investment during the fiscal year 2007-08 stood at $3 billion, which has gone negative by now. Besides, [...]

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Senate passes unanimous resolution to disband NAB

8. August 2008

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ISLAMABAD: The Upper House of the Parliament Friday unanimously passed a resolution to disband the National Accountability Bureau (NAB). The resolution was moved by Senator Latif Khosa after Senator Safdar Abbasi moved a privilege motion in the House maintaining that some officials of NAB had manhandled him when he was coming out of the Court [...]

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Senate lifts ban over trade union in PIA

8. August 2008

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ISLAMABAD: The Senate Friday unanimously passed a bill to lift ban on trade union activities in Pakistan International Airlines Corporation (PIA). This is the first bill repealed by the Parliament, which was passed by the previous government in 2001. Popularity: 31% [?]

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Govt to import three hundred thousands tonnes of Urea

8. August 2008

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ISLAMABAD: The Government has decided to import three hundred thousand tonnes of Urea to ensure its adequate supply to farmers and provide more subsidies on DAP fertilizer to stabilize its prices. This was announced by Advisor to the Prime Minister on Industries and Production Mian Manzoor Ahmad Wattoo at a news conference in Islamabad this [...]

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Kaira for completion of projects in time

8. August 2008

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ISLAMABAD: The Federal Minister for Kashmir Affairs, Mr. Qamar Zaman Kaira, Chairman Kashmir Affairs and Northern Areas, presided over the meeting of the Northern Areas Executive Development Committee (NAEDC) on Friday. During the meeting, approval to the Northern Areas Annual Development Plan was accorded. It was agreed that throw forward of development schemes should be [...]

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PC announces privatisation schedule for public sector entities

6. August 2008

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ISLAMABAD: A meeting was held here on Wednesday Privatisation Commission (PC) chaired by Syed Naveed Qamar Federal Minister for Privatisation, Investment & Finance to finalize the schedule for privatisation of public sector entities during September-October 2008. Popularity: 29% [?]

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German consortium keen to invest in housing projects

6. August 2008

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ISLAMABAD: A German delegation from Trade Men International (TMI) Consortium headed by Mr. Udo Hanses, Chief Executive called on the Federal Minister for Housing and Works Rahmatullah Kakar here today and discussed investment potential in upcoming housing projects. Welcoming the German delegation, the Minister said that government has chalked out a comprehensive programme envisaged to [...]

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Govt to construct 200 small dams in Balochistan

5. August 2008

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QUETTA: The Balochistan Government has decided to construct two hundred small dams to put the water supply and agriculture water system on modern lines during next ten years. These dams will be constructed at various places in the interior of the province. Popularity: 42% [?]

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Prof .Khurshid expresses reservations on SBP new policy

1. August 2008

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Senator Professor Khurshid Ahmad, Naib Amir Jamaat-e- Islami, Pakistan and leader of the Independent Opposition Group in the Senate has expressed his strong reservations about State Banks’ latest policy initiative towards tight monetary policy by once again increasing by one percent the discount rate. This is the fourth rise in the basic rate within the [...]

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Global investors endorse Pak power strategy

1. August 2008

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ISLAMABAD: The world’s leading power investors endorsed Pakistan’s power sector development strategy and made suggestions for improving the investment process at an investors’ roundtable hosted by the World Bank, the IFC, and the Government of Pakistan at the World Bank Group offices in Washington DC. The press release received from Washington DC says that the [...]

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Islamic Banking in Pakistan: A consumer perspective

1. August 2008

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The Idea of Islamic Banking is still hot these days in Pakistan. Either completely new Islamic institute are being emerged or recent traditional banks are opening additional branches focusing in Shariah-based Financing products/services. But still consumers doubt that how much are they Islamic? Three years back, Fazal Ahmed, chief financial officer of the Islamic Investment [...]

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