ECC approves gas load management plan
Economic Coordination Committee (ECC) of the Cabinet on Tuesday while approving gas load management plan decided to accord first priority to domestic and commercial consumers, power and general industries sectors to be second and third priority and cement sector will be on fourth and CNG sectors will be on fifth priority. more... (DT)
Abu Dhabi Group expands its investment in Pakistan
The Abu Dhabi Group, a large business conglomerate in the Middle East and a major investor in Pakistan, has announced that it has acquired SingTel’s shares in Warid Telecom. With 100 percent ownership in Warid Telecom, Abu Dhabi Group has further reinforced its commitment to the company.
Pakistan’s exports to India increase 66% in Apr-Dec 2012
Pakistan’s export to India has increased by 66 percent in April-December 2012 compared to the import from India, which grew only 16 percent in the same period.Pakistan’s exports to India in the nine months of 2012 stood at $460 million, which is much more than $277 million during April-December 2011.
Govt’s budgeting:system shows improvement
Pakistan’s rank in Open Budget Index has increased from 38 in 2008 and 2010 to 58 in 2012. Out of the hundred countries surveyed by International Budget Partnership, an independent budget transparency survey organisation, Pakistan has scored 58, which reflects significant improvement and demonstrates the government’s commitment to achieve budget comprehensiveness and transparency.
Trade policy: Cabinet set to okay framework
The federal Cabinet is set to approve three-year Strategic Trade Policy Framework (STPF) 2012-15 on Wednesday (today), envisaging exports worth $95 billion, establishment of an Exim Bank with Rs 26.108 billion to be released for the initiative against an initial demand of Rs 60 billion by the Commerce Ministry. more... (BR)
Investment Policy 2013: minimum foreign equity condition to go
The Board of Investment (BoI) will give presentation on Investment Policy 2013 to Prime Minister on February 6, 2013. The policy will exclude the condition of minimum foreign equity in services, social and agriculture sectors, besides allowing foreign investors to access domestic borrowing. Talking to Business Recorder, State Minister for Finance, Saleem Mandviwalla said, "It will be approved by BOI Board and then the Cabinet." more... (BR)