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Business

Three new companies get approval to set up car assembly plants in Pakistan

In a major setback to Japanese-dominated automobile industry in Pakistan, Ministry of Industry and Production on Wednesday has granted approval to three new non-European conglomerates to set up car assembly plants in Pakistan. The companies include United Motors Private Limited, Kia-Lucky Motors Pakistan Limited and Nishat Group while their applications …

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Pakistan unveils new visa policy for Chinese nationals

ISLAMABAD -UNS: The Ministry of Interior on Wednesday took a policy decision to review the conditions and requirements for issuance of business and work visas to Chinese nationals. The decision, taken during a high level meeting held under the chairmanship of Interior Minister Chaudhry Nisar Ali Khan, would ensure transparency …

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Pakistan’s trade deficit swells to record $29.99 billion

KARACHI -UNS- Pakistan’s trade deficit swelled to historic $29.99 billion during eleven months (July-May) of the ongoing financial year due to massive increase in imports and decline in exports. The trade deficit, gap between exports and imports, soared by 42.12 percent and reached $29.99 billion during July-May period of FY2016-17 …

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Completion of CPEC early harvest project would bring a new era of development,prosperity in Pakistan

ISLAMABAD -UNS – The year 2017, an important year for China Pakistan Economic Corridor, would enable Pakistan to witness new era of development with completion of CPEC early harvest projects. “A number of mega projects in infrastructure and Gwadar are breaking ground this year” remarked Federal Minister for Planning, Development …

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KPK govt unveils Rs603 bln tax free budget, announces 10% pay increase

PESHAWAR: The Khyber Pakhtunkhwa Government Wednesday unveiled Rs 603 billion tax free budget carrying development outlay of Rs208billion for the year 2017-18 with major focus on elimination of corruption and development of the social sector development besides announcing 10 percent increase in the salaries and pension of the government employees …

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Emirates, Etihad Airways suspend flights to and from Qatar after diplomatic row

DOHA -UNS: As Saudi Arabia, United Arab Emirates, Egypt and Bahrain decided to sever diplomatic ties with Qatar and closed their airspaces and seaports to the Gulf country, airlines are in a fix as many passengers are stranded at airports. The recent ban on Qatar has wreaked havoc on airlines …

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