News Brief

PIAF welcomes relaxation in foreign exchange regulations to facilitate exporters

LAHORE (INP): The Pakistan Industrial and Traders Associations Front (PIAF) Chairman Irfan Iqbal Sheikh has appreciated the State Bank of Pakistan for relaxing its foreign exchange regulations, allowing exporters to directly dispatch transport documents to the buyers abroad against shipments valuing up to $100,000 or equivalent. In a joint statement, along with senior vice chairman Tanveer Ahmed Sufi and vice chairman Khawaja Shahzeb Akram, he said that in wake of changing global trade practices and to facilitate exporters, the central bank move is expected to provide manifold benefits to the local exporters including reducing the cost of doing business, efficient processing of export documents and improving competitiveness of Pakistani exports in the international market. Irfan Iqbal Sheikh also asked the SBP to issue circular for implementing the Prime Minister Export Enhancement Package in its true spirit. He stressed on the need for evolving an export-led policy and availability of energy at regionally competitive prices for economic turnaround.

He said that much-awaited export package, approved by the ECC to steer the exporting industry out of crisis, is not being implemented by the government while the crisis is worsening day-by-day. He said that not only our share in the global market was shrinking and going to other countries but also the unit price of our products was decreasing thus resulting in reduced profitability for Pakistani exporters.

It is to be noted that earlier, the carriers (shipping companies, airlines, railways, etc.) were required to draw the transport documents (bills of lading, airway bill, railway receipts, etc.) only to the order of an authorized dealer for exports taking place from Pakistan and the same were required to be dispatched to the buyer abroad through an authorized dealer.

Punjab governor opens 3-day Interiors Pakistan expo today

LAHORE (INP): Governor Punjab Malik Muhammad Rafiq Rajwana will inaugurate a 3-day mega “9th Interiors Pakistan” exhibition 2017 at Expo Centre here on Friday (today). Chief Executive Pakistan Furniture Council (PFC) Mian Kashif Ashfaq in a statement on Thursday said that Vice President SAARC Chamber and Chairman United Business Group, Iftikhar Ali Malik, ex-TDAP chief SM Muneer, President Federation of Pakistan Chamber of Commerce and Industry Zubair Tufail along with SVP Aamir Ata Bajwa,VP Manzoor Ul Haq Malik, President Lahore Chamber Tahir Javed, SVP, Khawaja Kahwar Rashid, VP Zeeshan Khalil, Chairperson TEVTA Irfran Qaiser Sheikh and President Women Chambers besides other leading businessmen and traders will also grace the event while Federal Minister for Commerce and Textile Muhammad Pervaiz Malik will be chief guest on the concluding day . The essence of exhibition is to promote the furniture and associated products made in Pakistan at local and international level.

The  event will be attended by members of the diplomatic corps, leading businessmen, stakeholders of the furniture industry and foreign delegations and in this regard delegations from China, Italy, United Kingdom, Turkey, Hong Kong, Thailand and, Bangkok have confirmed their participation while delegations from other countries are also expected.

Council was expecting more than 100 leading local companies and interior designers to display their products while as many as 200,000 to 250,000 visitors to visit this mega exhibition. Visitors on the lookout for buying furniture will be able to enjoy special discount of up to 20 per cent on different items exhibited at the event.

 TDAP supporting business sector: DG

LAHORE (APP): Trade Development Authority of Pakistan (TDAP) is endeavoring to support and assist the business sector to help improve the quality and value of the products. This was stated by Shazia Akram, Director General, Trade Development Authority of Pakistan (TDAP), Sub Regional Offices while talking to a 21-member delegation of officers from 22nd Senior Management Course (SMC) who visited TDAP Lahore here Thursday. The DG said that TDAP was carrying out all efforts to help the business community enhance their business potential through their effective participation in the international exhibitions and delegations. “Awareness seminars and workshops are also being arranged by the TDAP to educate the entrepreneurs about the latest trends regarding the global trade markets and to make them sensitize about the trade potential which exists in the distant markets of the world”, she added. Earlier, Deputy Director TDAP, Asmma Kamal, gave a detailed presentation on the working of the TDAP.

It was observed during the meeting that Pakistan was facing challenges in enhancing the export growth due to global slump in GDP, lack of product and market diversification and low investments. The officers asked various questions regarding the decline in exports of the country and shared their valuable opinions for improvement in export sector. The DG TDAP (SRO) was assisted by the Directors’ TDAP Usman Qureshi and Muhammad Irfan alongwith other senior officers, while the visiting delegation was led by their Chief Instructor National Institute of Management (NIM) Peshawar Mirza Khalid Amin. Pakistan ranked ahead of India, Bangladesh in mobile internet speed

ISLAMABAD (APP): Pakistan holds the 89th position in terms of mobile speed for the month of November, according to speed testing company Ookla. The Speedtest Global Index compares internet speed data from around the world on a monthly basis. Data for the Index comes from the hundreds of millions of tests taken by real people using Speedtest every month, private news channel reported. According to the November edition of the Speedtest Global Index, Pakistan, which previously stood on the 86th rank, affords an average 13.08 Mbps speed to mobile internet users. Pakistan holds the 89th position in terms of mobile speed for the month of November according to speed testing company Ookla. With a blazing fast 62.66-Mbps mobile internet speed, Norway sits on the number one spot. India is ranked 109 with a mobile internet speed of only 8.80 Mbps, while Bangladesh sits on the 120th spot. Two spots down from its previous rank, Pakistan holds the 126th rank in the fixed broadband speed test category, with an average speed of 6.13 Mbps.

Pakistan holds the 126th rank in the fixed broadband speed test category, with an average speed of 6.13 Mbps. Singapore occupies the number one spot in the fixed broadband category, with an average tested speed of 153.85 Mbps. India stands on the 76th spot in the list at 18.82 Mbps, while Bangladesh is two spots down to 85, with an average recorded fixed broadband speed of 16.14 Mbps.

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