Govt for utilisation of mineral resources


lahore (app): The government of Punjab is working on a plan to ensure optimal utilisation of mineral resources in a shortest possible time. Services of experts from inside the country and abroad will be utilized in this regard. He said that complete data of mineral reserves and their exploration would be compiled on scientific lines. He said that all possible resources would be utilized to benefit from gems, iron and other minerals so that they could be used for economic development and prosperity of the country. The plan is part of efforts of the government to benefit from indigenous resources and solve problems of the economy, he said adding, exploration of mineral resources was among the best options.


China becomes world’s largest goods trader: WTO


ISLAMABAD (APP):  China was the largest goods trading nation in 2013, a Ministry of Commerce statement said on Saturday, citing data from the World Trade Organization (WTO).    China’s goods trade topped 4.16 trillion U.S. dollars last year,  including 2.21 trillion dollars in exports and 1.95 trillion dollars in imports, the statement said, Xinhua News reported. This is a milestone in foreign trade for China as a developing country and a great achievement, said Yao Jian, ministry spokesman. The country’s exports and imports have leapfrogged in 35 years of reforms and opening-up, especially after China’s entry into the WTO, he said.

   China now is the largest trade partner for over 120 countries and

regions and imported nearly 2 trillion U.S. dollars of goods annually, providing lots of jobs and investment opportunities for global trade partners, Yao said.

Though it is the largest trading nation, China still has a long way to go before becoming a strong trading country because its exports are of relatively low added value, it has relatively few independent brands, the marketing network is not sound enough, and its products are of relatively low quality, he stressed.

   Facing new challenges, China should actively promote models of growth,

restructure the economy and step up cooperation with trade partners to achieve mutual benefit, Yao said.



31st March last date for renewal of ICCI membership

ISLAMABAD (Online): Islamabad Chamber of Commerce & Industry (ICCI) has started the process of membership renewal for the year 2014-15 and as per Trade Organisations Act 2013; the last date for renewal of membership is 31st March 2014. The Chamber has already intimated its members through letter and email that the membership of Islamabad Chamber of Commerce & Industry shall expire on 31-03-2014 and all members are required to get the membership renewed on or before 31-03-2014, submitting a copy of the latest Income Tax Return for the year 2013 (and copy of least Sales Tax Return if applicable).

ICCI further clarifies that in case an existing member could not get membership renewed on or before 31st March 2014, his/her membership shall cease automatically and for becoming a member of ICCI again, they will have to go through the re-admission process.



Increased growth of 5pc to help boost economy

ISLAMABAD (APP): A latest report of State Bank of Pakistan said that the economic growth of the country in the first three months of the current fiscal year has increased to 5 % which shows that Pakistani economy is developing.Talking to VOA, renowned economist Dr Shahid Hassan Siddiqui has said that the statistics given by the State Bank for the next four months are more valid. He said in the reports it has been clearly mentioned that our GDP growth rate would be very low from the target adding that the State Bank has hidden the actual situation. To a question economist from Quetta Professor Munir Kakar said how growth rate increased so much in such a short interval of time which is misgiving.

 I have reservations in this connection and I would agree to Mr. Shahid Hassan, he said.

He added taking loan for long term becomes a problem instead of solution. He said due to law and order situation capital is going abroad from Pakistan.  He said poverty gives birth to extremism and we have to eradiate it.



China discovers huge oil and

gas deposits


BEIJING (APP):  China discovered nearly 1.1 billion tonnes of oil deposits and 616.4 billion cubic meters of natural gas reserves in 2013, said the Ministry of Land and Resources. Of the new discoveries, 202 million tonnes of oil and 381.9 billion cubic meters of natural gas can be exploited with the current technologies, according to the ministry.   The production of oil and natural gas last year stood at 210 million tonnes and 117.6 billion cubic meters, rising 1.4 percent and 9.1 percent year-on-year, respectively. “Oil and natural gas discoveries maintained a strong momentum in 2013 with steady production increase as China strengthened its exploration efforts and made breakthroughs.


China is one of the world’s largest energy consumers, and a large part of its demands, especially in oil and natural gas, depends on imports.