Aptma, BMZ sign declaration of intent

LAHORE (Staff Reporter): The All Pakistan Textile Mills Association (APTMA) Punjab and the German Ministry for Economic Cooperation (BMZ) have signed a declaration of intent (DoI) for a sustainable textile industry across the value chain.

Acting chairman APTMA Punjab Syed Ali Ahsan and the Country Director GIZ Dr Ulrike Reviere signed the DoI on behalf of their respective organisations. A website www.spc.org.pk was also launched to create awareness on the Sustainable Production Centre on the occasion. Dr Stefan Oswald, head of Afghanistan/Pakistan in the German Ministry for Economic Cooperation, witnessed the signing ceremony. Earlier, the acting chairman APTMA Punjab welcomed the delegation, saying that the Association, in anticipation of the global challenges to textile exports, has established the SPC with the technical support of GIZ because the sustainable production and consumption as part of sustainable development has become a necessity to meet global sustainability challenges such as climate change, environmental pollution and prudent utilization of available resources.


Weekly inflation falls by 0.27pc

ISLAMABAD (APP): The weekly inflation for the week ended on May 26, for the combined income group, witnessed decrease of 0.14 percent as compared to the previous week. The Sensitive Price Indicator (SPI) for the week under review in the above mentioned group was recorded at 214.35 points against 214.66 points registered in the previous week, according to data of Pakistan Bureau of Statistics (PBS). As compared to the corresponding week of last year, the SPI for the combined group in the week under review increased by 0.99 percent. The weekly SPI has been computed with base 2007 2008=100, covering 17 urban centers and 53 essential items for all income groups and combined. Meanwhile, the SPI for the lowest income group up to Rs 8000 declined by 0.11 percent as it went down from 204.77 points in the previous week to 204.54 points in the week under review. As compared to the last week, the SPI for the income groups from Rs 8001 12,000, Rs 12,001 18,000 and 18,001 35,000 decreased by 0.13 percent, 0.14 percent, 0.15 percent and 0.16 percent respectively.

During the week under review average prices of 8 items registered decrease, while that of 13 items increase with the remaining 32 items' prices unchanged. The items which registered decrease in their prices during the week under review included onions, chicken (farm), eggs (farm), garlic, moong pulse (washed), wheat, sugar and vegetable ghee.


Call to declare real estate industry

LAHORE (Staff Reporter): The Lahore Chamber of Commerce & Industry has urged the government to declare real estate sector as industry. The government should not impose any new tax as it is not only an important source of revenue for the government but is also providing direct or indirect employment to millions, LCCI said. The demand was raised by the LCCI President Sheikh Muhammad Arshad while talking to the delegation of DHA Real Estate Agents Association, led by its chairman Major ® Rafiq Hasrat, here at the Lahore Chamber. Former LCCI president Muhammad Ali Mian, former senior vice president Irfan Iqbal Sheikh and Executive Committee member Nasira Taskeen also spoke on the occasion. The LCCI President said that real estate sector is an important and growing sector of economy and Pakistan spends billions of dollars on construction every year. He said that real estate sector is also help growing various allied industries therefore government should declare this important sector as industry.


SBI chief for linking Keti Bander to CPEC

KARACHI (Staff Reporter):  Sindh Board of Investment (SBI) Chairperson Naheed Memon has said the Keti Bander should also be linked to China Pakistan Economic Corridor (CPEC). She expressed these views while talking to industrialists and traders in a meeting held here to discuss matters related to the CPEC at her office. The meeting held detailed deliberations to get maximum possible benefits from the CPEC in Pakistan, particularly in Sindh. The objective of the meeting was to get inputs of the investors on CPEC and communicate the policies and vision of the government to them and convey their views on CPEC to the federal government. Addressing the meeting, Naheed Memon also briefed the participants about the incentives being offered to the investors by the government of Sindh. The participants suggested linking the projects of the development of education, housing, health, agriculture, infrastructure upgradation and other related sectors to the CPEC project.

Former governor State Bank of Pakistan Syed Saleem Raza, executive director Safdar Suhail, chief executive officer Pakistan Business Council, Ehsan Malik, president Korangi Association of Trade and Industry, Zahid Saeed, director (MBA) of IBA Dr Nasir Afghan, representatives of F.B. Area Association of Trade and Industries, Port Qasim Association of Trade and Industries and noted industrialists were also present on the occasion.