Modern tech to unearth
resources
LAHORE (Staff Reporter): Lack of modern technology is coming in the way of unearthing vast natural resources that could change the fate of Pakistan.
Government should focus this particular area and take private sector on board which could play instrumental role in transfer of technology. In a joint statement issued here Tuesday, LCCI President Sheikh Muhammad Arshad, Senior Vice President Almas Hyder and Vice President Nasir Saeed said that Pakistan is blessed with huge mineral resources but we could not avail significant benefit due to lack of modern technology and proper policy. The LCCI office-bearers said that we need to concentrate on improving our skill of excavation and mining in order to take advantage of these blessings.
He said that in the absence of local technology, foreign countries jump in and play havoc with natural resources forcing neo-colonial treaties.
They said that multinational companies take from 70 to 80% of mine resource value as cost of mining.

Plastic, printing & packaging show inaugurated
ISLAMABAD (NNI): Chief Executive Officer Trade Development Authority of Pakistan SM Muneer inaugurated 3P- Pakistan 2016- The 12th International Plastic, Printing, Packaging and Food Equipment & Technology Exhibition, organized by FAKT Exhibitions (Pvt) Ltd, being held at Expo Centre Karachi from 15th to 17th March 2016. S.M Muneer said, “I highly appreciate the efforts of FAKT Exhibitions, as an organizer of such important and worthwhile event which is the symbol of opening new rooms of technological development in the plastic, printing and packaging industry with Food, Equipment and Technology. The event has positive impacts on trading and economic activities of the country.
It shows the confidence and trust of exhibitors, foreign and local delegates which have participated in the event. I strongly favor these kinds of events and I am very optimistic about the future of the industry”. He was joined by the C.E.O of FAKT Exhibitions. M.Saleem Khan Tanoli at the occasion.
S.M. Muneer along with S. Khalid Tawab, Senior Vice President of The Federation of Pakistan Chambers of Commerce & Industry, the guest of honor of the event visited all over the show and gradually met with all the exhibitors and showed them a soft gesture about the country and the industry in particular. Over 250 companies from over 25 countries including Austria, China, Germany, India, Italy and Taiwan etc. participated in the event.

Government urged to announce trade policy
KARACHI (NNI): Lasbela Chamber of Commerce and Industry President Maqsood Ismail has demanded the government to announce new trade policy without further delay. In a statement, Maqsood and chamber’s fomer president Yakoob H Karim said trade and industrial policy is the need of the hour so that industrialists and exporters should ascertain the government priorities and sense of direction. They said that the inordinate delay in the announcement of industrial and trade policy framework and exporters’ package, the uncertainty looms large and is creating problems for the country’s industry and the export sector. “Prime Minister Nawaz Sharif promised to announce the Strategic Trade Policy Framework (STPF) package a few sometimes back but the government is unable to understand the urgency". "

Delays in taking decisions often cost the people and the economy heavily as industry is in real bad shape and particularly the export-oriented industry is struggling for survival", Yakoob commented.

Motorcycles sale up by 18.11pc

ISLAMABAD (APP): The sale of motor bikes in the country, during first eight months (July-February) of fiscal year 2015-16, witnessed an increase of 18.11 percent to 878,723 units as compared to same period of last year when 719,516 motorcycles were sold in the country. According to latest data released by Pakistan Automobile Manufacturing Association (PAMA), during the period under review, Honda motorcycles took the lead as 532,183 units were sold as compared to sale of 408,204 units during same period of previous year. Suzuki motorcycles, however witnessed 25.62 percent decrease to 11,670 units in July-February (2015-16) from 14,661 units in same period of last year.

Govt releases Rs352.9b for uplift projects
ISLAMABAD (APP): The government has so far released over Rs 352.955 billion for different social sector developmental projects under Public Sector Development Programme (PSDP) 2015-16 against the total allocations of Rs 700 billion earmarked for the current fiscal year. According to the latest data of the Ministry of Planning, Development and Reforms, the government released Rs 35.795 billion for infrastructure development projects of National Highway Authority (NHA) against its total allocation of Rs 159.6 billion for FY 2015-16. Similarly Rs 88.953 billion have been released for Water and Power Development Authority (WAPDA) Power Sector for which the government has allocated an amount of Rs.113.896 billion for the current fiscal year.