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Daily Economic Activities |
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(July 07,
2009) |
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| Economic Bulletin | click here for Market Glimpse | ||
Efforts
afoot to halt gray traffic in tracks: Minister for Investment Senator Waqar Ahmed Khan has expressed his concern about gray trafficking by illegal operators in telecommunication sector causing loss of $110 million per annum to the national exchequer. The Federal Minister for investment said this while chairing a meeting to address various issues pertaining to telecommunication sector in the country in his office at Islamabad. (Source, The Financial Daily) |
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PM
seeks EU support for GSP plus, FTA; Prime Minister Syed Yousuf Raza Gilani has urged the EU countries to provide Generalized System of Preferences (GSP) Plus facility and support Pakistan's bid for signing the Free Trade Agreement. Talking to Portuguese Foreign Minister Luis Amado, at the PM House, Prime Minister Gilani stressed that the imperative of resolution of the core issue of Kashmir and water dispute with India to enable Pakistan to fully focus on its western border in the interest of regional stability. (Source, The Financial Daily, BR) |
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Tareen
abolishes WHT on share sales: Current taxation on the KSE Members will also be adjusted; Advisor to Prime Minister on Finance and Economic Affairs, Shaukat Tareen said that withholding tax (WHT) on sale of shares has been abolished. While talking during his visit to Karachi Stock Exchange, Tareen stated that bill for demutualization of the stock markets will be tabled in National Assembly in its next session. (Source, The Financial Daily, BR, The News) |
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PTCL,
TWA pair up for local Internet peering; Pakistan Telecommunication Company Limited (PTCL) and Trans World Associates (TWA) have signed an agreement for establishing local Internet peering for routing of domestic email and Internet traffic. The signing ceremony was held at Pakistan Telecommunication Authority (PTA) Headquarters. It was decided that initially the link between two parties will be of Fast Ethernet providing a peering capacity of around 80 to 90 mbps. (Source, The Financial Daily) |
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German
envoy visits GTR plant; Germany will continue provide technical support to Pakistani industries to improve the standards and quality to compete in the international market", this was stated by German Ambassador Dr Michael Koch during his visit to General Tyre and Rubber Company Pakistan Ltd, (GTR). (Source, BR, Daily Times) |
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Govt.
secures bank loans for rental power plants; The government has secured Rs 25 billion loans for power plants it wants to import on rent to contain a worsening electricity shortfall. The government has received commitments for about Rs 25 billion for projects of around 1100MW from financial institutions. About 80 percent of the financing requirement has already been met," said Aftab Manzoor, chairman of Pakistan Banks' Association after a meeting on Monday between heads of banks and advisor to prime minister on finance Shaukat Tareen. "Government is giving us guarantees”. (Source, Daily Times) |
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Minister
for early completion of EOBI projects; Federal Minister for Labour & Manpower, Syed Khursheed Ahmed Shah has said Employees Old Age Benefit Institute (EOBI) should invest in profit-earning institutions so that its profit could be spent on the welfare of workers. (Source, Daily Times) |
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Two
fertilizer plants to be running soon; Two fertilizer plants M/s Fatima Fertilizer Plant and M/s Engro Chemicals Plants are near completion and expected to be operational by October and November this year. These plants will produce more than one million tonne fertilizer annually which will be enough to meet the farmers demand locally, according to the Ministry of Industries and Production. (Source, The Financial Daily, The Nation) |
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© 2009 BOI Gov. of Pakistan. All rights reserved.