Index down 111.81 points

KARACHI (February 11, 2011): Bearish trend continued at the Karachi share market on Thursday and the KSE-100 index lost another 111.81 points to close at the level of 12,187.47 points. Trading volumes at the ready counter slightly improved to 89.822 million shares, as compared to 72.275 million shares traded on Wednesday.

LCCI delegation to visit South Africa

LAHORE (February 11, 2011): An eight-member LCCI delegation is leaving on Saturday for a 12-day business visit to South Africa to explore new business avenues and enhance two-way trade. The delegation headed by LCCI Executive Committee Member Dr Shahid Raza would have meetings at various chambers and trade organisations in South Africa.

MCCI stresses need for widening tax base

MULTAN (February 11, 2011): Multan Chamber of Commerce and Industry (MCCI) stressed the need for widening tax base for bringing agriculturists and landlords into the tax net. President MCCI, Shahid Naseem Khokhar on Thursday said levying 3.5 percent withholding tax on traders and intermediaries of raw agriculture produce should also be rationalised.

Third volume of 'Gateway to Giving' launched

ISLAMABAD (February 11, 2011): Pakistan Centre for Philanthropy (PCP) on Thursday launched the third volume of "Gateway to Giving", a directory of certified non-profit organisations aimed at bridging the information and credibility gap between grant makers and grant seekers to help professionalize grant-making by strengthening the civil society.

PBC seeks urgent economic reforms

KARACHI (February 11, 2011): The Pakistan Business Council (PBC) on Thursday urged the policy-makers in the parliament to finalise their economic reform agenda urgently and start its implementation. The PBC supported the multi-parties dialogue on economic reforms.

President and Prime Minister briefed on economic situation

ISLAMABAD (February 11, 2011): President Asif Ali Zardari and Prime Minister Syed Yousuf Raza Gilani on Thursday jointly chaired a high level presentation to review the economic situation in the country.

Development works in Site area: four members' committee formed

KARACHI (February 11, 2011): Sindh Minister for Industries and Commerce, M. A. Rauf Siddiqui has announced establishment of a four members committee to look into ongoing infrastructure development works, its quality and progress in Site industrial area. He formed this committee during a meeting of Site Association of Industry (SAI) on Thursday. The committee is headed by Chief Engineer Site and other members are from Site association.

Pakistan seeks Chinese help in capacity building of manpower

BEIJING (February 11, 2011): To enhance the capacity of its manpower, Pakistan has requested assistance from China in vocational and technical training in various areas of value addition. Pakistan particularly needs capacity building of its manpower in sectors like textiles, gems & jewellery, ceramics, surgical instruments, leather and light engineering, said Ambassador Masood Khan here.

PDWP approves 24 development projects

KARACHI (February 11, 2011): As many as 24 development projects/schemes worth of more than Rs 9702 million were approved by the Provincial Development Working Party (PDWP). A meeting was held under the chairmanship of Additional Chief Secretary (Dev.) P&D Mohammad Ishaq Lashari here on Thursday.

'Pakistan offers significant opportunities to UK business people'

LONDON (February 11, 2011): There are significant opportunities for partnership between UK and Pakistani firms and I would encourage businesspeople to explore these with the help of UK Trade & Investment, UK minister for Trade and Investment Lord Green said. Green, speaking a day after the launch of the UK Government's Trade and Investment White Paper said, "Pakistan will be one of the world's drivers of growth in years to come, notwithstanding some of the challenges of the present."

Afghan Transit Trade Rules 2011: conditions specified for air transit cargo procedure

ISLAMABAD (February 11, 2011): The government of Pakistan will allow transportation of Afghan transit goods through air from only that international airport of Pakistan, which operates direct flight to an international airport in Afghanistan. This condition has been specified in the detailed procedure on the (Air-to-Air Transit of Goods) to Afghanistan under the new Afghan Transit Trade Rules 2011.

Pakistan''s foreign exchange reserves fall to $17.31 billion

KARACHI (February 11, 2011): Pakistan''s foreign exchange reserves fell to $17.31 billion in the week ending February 5, down from a record $17.38 billion the previous week, the central bank said on Thursday. Reserves held by the State Bank of Pakistan (SBP) fell to $13.76 billion from $13.85 billion in the week ending February 5, while those held by commercial banks rose to $3.55 billion from $3.53 billion, said the SBP.

''Pakistan FDI likely to rise in second half''

LONDON (February 11, 2011): Foreign direct investment in Pakistan could return to a positive trend this year, but militancy is a deterrent to investors, the country''s investment minister said on Thursday. Floods last year caused nearly $10 billion in damages to Pakistan, and the country''s costly war against Islamist insurgents has also weighed on its efforts to attract foreign investment.

US lawmakers threaten Pakistan aid

WASHINGTON (February 09, 2011): US lawmakers said Tuesday that they told Pakistani leaders on a visit that Congress would consider cutting aid unless an American accused of murder is freed. Representative Buck McKeon, chair of the House Armed Services Committee, said he mentioned to Pakistani leaders that Congress was working on the budget.

CPI inflation surges by 14.19 percent in January

ISLAMABAD (February 09, 2011): The CPI inflation surged by 14.19 percent in January 2011 over the corresponding period of the last year with prices of perishable food items soaring to 44.39 percent, according to Federal Bureau of Statistics (FBS). Official figures of Consumer Price Index (CPI) inflation released by the FBS here on Tuesday showed a decline of 1.30 percent in inflation which was largely attributed to the change in base effect.