Articles & Finance Updates

President of the SAARC Chamber of Commerce and Industry (SAARC CCI), Tariq Sayeed has underlined the need for a sizeable investment by China in the South Asian countries, particularly Pakistan to have a quantum leap in trade with the countries in the region.

The Federal government will be announcing 2009-10 trade policy in the middle of July, said sources in the Commerce Ministry. It is learnt on good authority the Commerce ministry has decided to make sure release of important notifications relating to the decisions about the 2009-10 trade policy. "It is being decided that all notifications would be implemented within a month from the announcement of the trade policy," said the sources. According to the sources, a review of trade policy for the outgoing fiscal year revealed that certain steps announced were against the customs laws. However, this reality came to the light after eight months of the announcement of the policy, the sources said, adding that there was no option with the government but to postpone the decision for the next trade policy. It may be noted that the document, submitted by the All Pakistan Textile Mills Association (APTMA) to the Commerce Ministry, has also stressed early notification of important decisions instead of delaying it for half a year. The sources said the government had taken all the stakeholders on board and extensive consultation was made on finalizing the 2009-10 trade policy. Further, last minute visits are being made by the ministry officials to negotiate with the concerned economic sectors before finalizing the trade policy.

The government has allocated Rs 1.46 billion for the Capital Development Authority (CDA) to execute 16 development schemes in fiscal year 2009-10 under Public Sector Development Program that includes Rs 522 million for 10 ongoing projects and Rs 935.28 million for six new ones.

industrial development would help pave way for country's uplift, Sindh Minister for Women Development, Tauqeer Fatima Bhutto said this on Saturday. The minister speaking during a visit to 'My Karachi Exhibition' said that the government is encouraging foreign investors to attract investment from abroad. She stated that steps have also been taken for the resolution of the problems of the industrialists in the country.