SHAHEEN AIR, REGULATOR TRADE CHARGES OVER FLIGHT:
Shaheen Air International has accused the Civil Aviation Authority of discriminatory and hostile attitude. SAI chief operating officer Faisal Rafique said because of the careless attitude of the CAA the airline could not operate its inaugural Multan-Muscat flight early on Monday.
TEXTILE, CLOTHING EXPORTS RAISE 6PC TO $1.064BN:
Textile and clothing exports rose 6.2 per cent year-on-year to $1.064 billion in March, mainly driven by value-added products such as garments, the Pakistan Bureau of Statistics said on Monday. The increase in export proceeds was also evident in rupee terms.
‘PAKISTANIS PREFER TO SAVE CASH AT HOME’:
As many as 50 per cent of the “emerging affluent” Pakistanis prefer to save cash at home as opposed to only 15pc Indians belonging to the same segment of society.
SBP REVISES BANKS’ EXPOSURE LIMITS:
The State Bank of Pakistan (SBP) on Monday changed banks’ exposure limits through amendments to prudential regulations, but stopped short of setting a threshold for investments in government papers.
PSO PROFIT SHOOTS HIGHER:
Pakistan State Oil (PSO) logged strong growth in earnings during the nine months through March as its after-tax profit swelled 209 per cent year-on-year to Rs14.2 billion. Earnings per share rose to Rs52.10 from Rs16.91.
LOCAL, GLOBAL SECURITY FIRMS IN RACE ALONG CHINA’S ‘SILK ROAD’:
Global security companies and their smaller Chinese rivals are jostling for business along Beijing’s modern-day “Silk Road”, the grandiose plan for land and sea routes connecting the world’s second largest economy with the rest of Asia and beyond.
WORLD BANK TO HELP DEVELOP PAKISTAN’S RENEWABLE ENERGY SECTOR:
World Bank President Dr Jim Yong Kim on Monday offered technical and financial help in technological improvements in the renewable energy sector.
AML UNITS TO CURB TAX FRAUD:
Pakistan’s top tax team has decided to establish dedicated anti-money laundering (AML) units to investigate and prosecute growing offences of tax evasion and fraud.
PRICES OF 450 ITEMS REDUCED AT GOVT STORES:
The Utility Stores Corporation (USC) launched the second phase of Ramazan Relief Package on Monday by reducing the prices of more than 450 items by up to 10 per cent.