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PARC new rust resistant wheat varieties produce encouraging results

Advertisements ISLAMABAD: The four new rust resistant wheat varieties released by the Pakistan Agriculture Research Council (PARC) have producing desired results reported by PARC. Farmers of Mirpur Khas told to ‘The Wheat Travelling Seminar 2015’ that 60 to 80 maunds per acre wheat production has been witnessed. Advertisements The agriculture …

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Weekly Liquid Forex Reserves rise to $16,136.6 million

KARACHI: Pakistan’s total liquid foreign exchange (forex) reserves are at $16136.6 million for the week ended on February 27 as compared to $15,943.7 million of the previous week, ended at February 20, as reported by Domestic Markets & Monetary Management Department of the State Bank of Pakistan (SBP). During the week, the …

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Planning Ministry and UNDP signs ‘Assistance Program’ of $11m

ISLAMABAD: The Ministry of Planning, Development and Reforms (MPD&R) of Pakistan signed tomorrow (Wednesday, March 04) an agreement for $11.6 million with the United Nations Development (UNDP) to support implementation of key governance reforms at federal and provincial levels according to statement released by MPD&R and Communication Unit of UNDP. …

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President of Pakistan approves four Ordinance

ISLAMABAD: On a summary initiated by Ministry of Commerce, the President of Pakistan, Mamnoon Hussain, has approved the Prime Minister’s advice and promulgated the National Tariff Commission (NTC) Ordinance 2015, Anti-Dumping Duties (ADD) Ordinance 2015, Countervailing Duties (CD) Ordinance 2015 and Safeguard Measures (SM) Ordinance 2015 according to statement released …

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NBP declares profit of Rs 16 billion for the Year 2014

KARACHI: Board of Directors’ of National Bank of Pakistan in their meeting held at the bank’s Head Office Karachi approved the financial statement of the Bank for the year ended December 31, 2014 and announced consolidated profits of Rs 16 billion. Total Earnings Per Share (EPS) stand at Rs 7 …

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PM Arrives in Karachi to inaugurate 9th Expo Exhibition

KARACHI: Prime Minister Nawaz Sharif arrived in Karachi today (Wednesday) for one day visit to inaugurate the 9th Expo Exhibition arranged by The Trade Development Authority of Pakistan (TDAP). According to sources, PM Nawaz is likely to meet the family of the late Justice Rana Bhagwandas to express his condolence. …

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FBR: New Rules for Capital Gains

ISLAMABAD: The Federal Board of Revenue has made amendments in the Income Tax Rules (ITR), 2002 for the computation of Capital Gain Tax (CGT) under 8th Schedule to the Income Tax Ordinance (ITO), 2001 in respect of Foreign Institutional Investors (FIIs) etc. as notified through Statutory Regulatory Order (SRO) 161 …

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SBP plans to change ‘Target Rate’

KARACHI: The State Bank of Pakistan has decided to review its interest rate corridor framework in order to further strengthen the transmission of monetary policy; and have the desired effect on term structure of interest rate, reported by the Domestic Markets and Monetary Management Department of SBP. The main feature …

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LCCI urges the FBR to adopt harmonious policy

LAHORE: The Lahore Chamber of Commerce & Industry has urged the Federal Board of Revenue (FBR) to form business friendly policies and promote consultation culture with the stakeholders as steps like attaching business bank accounts for recovery of outstanding dues were hampering the business growth, a press release came from …

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Lucky Cement registered Rs 5.60 billion profit after tax

KARACHI: Lucky Cement registered Rs. 5.60 billion profit after tax (PAT) for the half year ended Dec, 31, 2014 which is an increase of 8.54% compared to the PAT at Rs. 5.16 billion in the corresponding period of the previous year. The earnings per share (EPS) for the period increased …

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SECP amends regulatory framework for NBFCs: public comments sought

ISLAMABAD: The Securities and Exchange Commission of Pakistan (SECP), under the leadership of Mr. Zafar Hijazi, Chairman of the SECP, has approved substantial amendments to the regulatory framework for the Non-Banking Financial Companies (NBFCs) inviting public’s comments, as released by Media and Corporate Communications Department of the SECP dated February …

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Liquid Forex Reserves rise to $16,036 million

KARACHI: Pakistan’s total liquid foreign exchange reserves are at $16,036.7 million for the week ended February 13 as compared to $15,238.2 million of the previous week, ended at February 6, as reported by Domestic Markets & Monetary Management Department of the State Bank of Pakistan (SBP). During the week, the SBP reserves …

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Pakistani Companies at number 2 in Ajman

KARACHI: Pakistan is the second largest investor in the Ajman Free Zone (AFZ), UAE. Around 2,000 Pakistani companies are operating in AFZ that is the 20% share of the total registered companies in the AFZ and this ratio is increasing by 20% annually. Ali Husain Fahmi, Head of Customer Service, …

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LCCI demanded to withdraw regulatory duty on industrial raw materials

HUB: The Lasbela Chamber of Commerce and Industry (LCCI), Hub, Balochistan has demanded the Federal Board of Revenue (FBR) to withdraw regulatory duty (RD) on import of those industrial products that do not fall under the definition of luxury items and domestically produced goods and products. President LCCI, Yakoob H …

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