Business News

 Backtracking its earlier decision, largely viewed as a snub in Pakistan, the United States has now extended a formal invitation to Pakistan to participate in the global climate summit scheduled to take place virtually on April 22 and 23. SAPM on Climate Change Malik Amin Aslam will represent Pakistan at the summit. Pakistan was not among the 40 countries initially invited to the summit when it was announced by US President Joe Biden last month. The summit “will be a key milestone on the road to the United Nations Climate Change Conference [COP26] this November in Glasgow [in the U.K.],” said the White House. BR

  The dispute between the state gas company over the allocation of pipeline capacity for the project and the sponsors of the proposed two dedicated LNG terminals (Tabeer and Energas) will last longer than investors expected. Investors in Sui Sothern Gas Company (SSGC) and Sui Northern Gas Pipelines Limited (SNGPL) are seeking firm commitments to allocate the pipeline's capacity prior to the construction of the two terminals at the port of Kassim, but the gas company has previously determined the pipeline's capacity. that there is no obligation to allocate. Completion of the project in accordance with the decision of the LNG Pipeline Capacity Allocation Committee in February, as stipulated by the Cabinet Energy Commission (CCoE). Energas CEO said on Saturday that, on condition of anonymity, Tabeer and Energas asked SSGC and SNGPL to allocate pipeline capacity equal to 40% of the terminal's total capacity. He claims that SSGC and SNGPL have a capacity of 400 to 600 million cu...

Fatima Fertilizer released financial results for the year ended 31 December. An avid observer discovered an interesting fact. Despite the fall in sales, the company's gross profit is growing. Sales in 2020 were Rs 71.2 billion and in 2019 Rs 74.9 billion. But somehow their total profit was higher.

Exports of textiles and apparel to Pakistan increased 30.4% in March, mainly driven by the value-added sector. This comes from data released Friday by Statistics Pakistan (PBS). Exports from these sectors increased in March from $ 103 billion to $ 1.355 trillion over the same month last year. The increase in exports in the value-added sector contributed to an increase in total exports in these sectors. Exports of textiles and clothing in February fell by 3.12 units. These exports are carried out in the value-added sector. Exports from July to March this year amounted to $ 1.35 billion, an increase of 9.06 units over the same month last year to $ 104.1 billion. The Economic Coordination Committee of the Cabinet of Ministers recently approved the import of cotton and cotton yarn from India, but such a decision was overturned by the federal cabinet. Duty free import allowed until June 30, 2021. In terms of parts, apparel exports totaled 22.9 units. Cost, followed by a knitted item for 49...

Punjab's Industry and Trade Minister Mian Aslam Iqbal said Friday that in line with Prime Minister Imran Khan's vision, all resources will be used to develop industry and fight unemployment. I work in an industrial estate where I work for the Punjab Industrial Property Development and Management Company (PIEDMC) Also in attendance were PIEDMC Chairman Syed Nabil Hashmi, Board Members Arif Qasim, Tariq Siraj Jafari, Chief Executive Officer Ali Moazam Sayed, CTO Farouk Jori and GM Coordinator Omar Saidna, Business Development Chess. The Competent Authority will develop a comprehensive plan for the construction of workers' houses in the Quaid-e-Azam industrial zone in Shey Kupura and will provide premises for the IT sector in a multifunctional business center. The Minister of Finance expressed his readiness to lay the foundation of the complex business center by May 1 and asked to indicate the date of completion of the construction. He ordered a detailed financial model for Pa...

 In the first nine months of this fiscal year, Pakistani food import legislation increased by 54.45%. The government continues to spend huge amounts of money on food imports and shrinks the country's foreign exchange reserves. The government allowed the import of wheat, sugar and other goods to address the problem of local congestion. Food imports totaled $ 6.12 billion between July and March 2020/21, up 54.45% from $ 3.96 billion in the same period last year. Food imports rose 90.85% in March to $ 76.6 million, according to the latest figures from the Pakistani Bureau of Statistics (PBS). The $ 6.12 billion installment plan resulted in $ 983 million worth of wheat imports in the first nine months of the current fiscal year. This is 100% more than in the same period last year. Between July and March 2020/21, the government imported $ 1.86 billion worth of palm oil, up 34.83% from $ 1.38 billion in the same period last year. The cost of sugar imports is $ 127.5 million. Meanwhile, t...