Business & Economy

Pakistan Post committed to deliver: Sattar ISLAMABAD (October 10, 2009): Pakistan Post is committed to make secure and timely delivery of mail, money and material at the doorsteps of the customers at affordable cost. This was stated by Additional Director General, Pakistan Postal Services (Ops), Fazli Sattar Khan, while talking to APP on World Postal Day.

Punjab warns action against national, multi-national companies LAHORE (October 10, 2009): Chairman Task Force on essential commodities, S. A. Hameed has said that the provincial government would launch a crackdown after November 10 against those national and multi-national companies which would not print expiry date, ingredients and consumer price on their products.

Issuance of fake certificates: CDNS rejects reports ISLAMABAD (October 10, 2009): CDNS strongly rejected the reports about the issuance of fake certificates from any office of the institution stating that in presence of effective control, timely audit and foolproof system such incidence was not possible.

Cabinet to discuss Bureau of Statistics autonomy bill in next meeting ISLAMABAD (October 10, 2009): The draft bill for making the Federal Bureau of Statistics (FBS) an autonomous body would be presented before the Cabinet for approval during its coming meeting, official sources in the Bureau told APP.

Pakistan's foreign exchange reserves rise to $14.75 billion KARACHI (October 09, 2009): The country's foreign exchange reserves rose to $14.75 billion in the week that ended on October 3 compared with $14.49 billion the previous week, the State Bank of Pakistan said on Thursday. Reserves held by the SBP were $11.17 billion compared with $10.94 billion a week earlier, while those held by commercial banks edged up to $3.58 billion from $3.55 billion a week earlier, said bank spokesman Syed Wasimuddin.

Pakistan wants greater access to EU and US markets: Qureshi WASHINGTON (October 09, 2009): As President Barack Obama discusses the US strategy toward Pakistan with his top advisers on Wednesday, foreign minister appealed for market access, military technology - and above all, trust. Shah Mehmood Qureshi dismissed concerns that expanded US aid to Pakistan had too many strings attached, but said the country's wobbling economy needed more, in particular access for its goods to Western markets.

Turkish Prime Minister to visit Pakistan to finalise MoUs LAHORE (October 09, 2009): The Turkish Prime Minister, Recep Tayyip Erdogan, along with a high-powered delegation of chief executive officers of the Turkish companies, is planning to visit Pakistan in near future to finalise a number of memorandums of understanding to expedite trade and economic relations between the two countries.

Realistic utilisation of funds to be ensured: Shahbaz LAHORE (October 09, 2009): Chief Minister Punjab Muhammad Shahbaz Sharif has said that realistic utilisation of funds is being ensured for the rapid development of the province and welfare of the masses. A comprehensive strategy has been adopted for rooting out corruption to improving efficiency of institutions so that every penny of public money could be utilised for the betterment of the people.

Rs one billion allocated for Lyari projects KARACHI (October 09, 2009): Federal government has allocated Rs 1 billion for developing infrastructure, sewerage lines, construction of parks, installation of streetlights and other civic projects in Lyari town. Town Naib Nazim suggested that Karachi Water and Sewerage Board officials must be punctual to supervise their ongoing water projects to ensure proper supply of water for the people of Lyari.

ICCI recommends rollout of PACCs in Sialkot ISLAMABAD (October 09, 2009): The Islamabad Chamber of Commerce and Industry (ICCI) has strongly recommended rollout of Pakistan Customs Computerised System (PACCs) particularly in Sialkot and other terminals and user IDs should be issued to importers from all major cities. The ICCI on Thursday conducted a seminar on the Trade Facilitation provided by PACCS, Pakistan's first automated customs system.