Italy agrees on grant of duty-free access to Pakistani products

ISLAMABAD (NNI): Italy has agreed to grant duty free access to Pakistani products. In a statement, Ministry of Commerce has said that this was agreed during two days visit of Secretary Commerce Muhammad Younas Dhaga to Italy. High level meetings between officials of Ministry of foreign affairs and Ministry of economy of Italy were also held. Both sides agreed that bilateral trade could be enhanced beyond the existing levels. Bilateral trade between Pakistan and Italy has increased from 906.96 million Euros in 2013 to 1.2 billion Euros in 2016. During the meetings, the Italian side showed considerable interest in learning about the investment opportunities in Pakistan in the fields of infrastructure, energy and automobiles. Both sides decided to take concrete steps to make the upcoming meeting of Pakistan and Italy Joint Commission scheduled to take place in January, 2018 a success.


Maximum efforts being made to

facilitate businessmen: Punjab governor

LAHORE (Staff Reporter): Punjab Governor Muhammad Rafique Rajwana said on Saturday that maximum efforts were being made to facilitate the business community which was revenue generator and employment provider. In a meeting with businessmen here at the Federation of Pakistan Chambers of Commerce and Industry (FPCCI), he said the business community of Pakistan was playing a proactive role in the economic prosperity of the country. The governor said the FPCCI had always provided solid assistance to the government in its efforts to promote exports, encourage foreign investment and stimulate economic activity in the country. The governor said that he was well aware of the problem of business community and assured his full support and cooperation for the arrangement of land for FPCCI regional office, citing that economic prosperity of the country was directly connected with prosperity of the business community.

He added the Governor's House was wholeheartedly opened to assist the business community in solving their issues and concerns.

FPCCI Vice President Haji Atta-ur-Rehman said imposition of new taxes without taking the stakeholders on board had become a matter of concern for the business community.

Renowned business leader Iftikhar Ali Malik highlighted the requirement of land for FPCCI Lahore office building which was supported by the Punjab governor.

FPCCI Regional Chairman and Vice President Manzoor-ul-Haq Malik also spoke on the occasion. The gathering appreciated the governor's commitment to support the business community.



Rice worth $320.24 million exported in first quarter

ISLAMABAD (APP): Rice exports from the country during first three months of the current financial year grew by 31.91 percent as compared the exports of the corresponding period of last year. During the period from July-September, 2017-18, around 621,094 metric tons rice was exported as compared the exports of 482,445 metric tons of the same period last year, according the data of Pakistan Bureau of Statistics. During the period under review, rice worth $320.242 million was exported as compared the exports of $242.694 million of same period last year. Meanwhile, exports of "Basmati "rice grew by 2.43 percent and reached at 86,672 tons valuing of $90.31 million in last three months as against 92,321 metric tons worth $88.772 million tons of same period last year, it added. In first quarter of current financial year, about 534,442 metric tons of rice other than basmati worth $299.321 million was exported as against the exports of 390,124 metric tons valuing $153,922 million of same period last year.

During the period under review, seafood exports from the country registered an increase of 17.64 percent as about 28,488 metric tons of fish and fish products valuing $75.370 million were exported as compared the exports of 21,959 metric tons worth of $64.06 million of same period last year.



Telenor Microfinance Bank partners with Careem

ISLAMABAD (PR): Telenor Microfinance Bank has entered into a partnership with Careem Pakistan under which disbursal of payments to their captains will be carried out through the Bank’s branchless banking platform – Easypaisa. Careem is set to utilize Easypaisa’s extensive network of over 75,000 agents nationwide to ensure smooth and transparent disbursement of payments to its Captains. Through this partnership, the Bank will provide Careem with a single and secure financial platform for efficient disbursement of performance based bonuses and commissions as well as other payments to its captains. This will enable Careem to cater to captains who do not use formal financial services and prefer to earn weekly wages. Telenor Microfinance Bank will facilitate Careem Captains in registering for their Easypaisa mobile accounts after which all of their due payments would be digitally transferred directly to their Easypaisa accounts.

The captains would then be able to receive the amount over the counter through Easypaisa agents or shops after biometric verification. This will ensure that the money is only received by the intended Captain.

“It gives me immense pleasure to announce our partnership with Careem Pakistan” said Shahid Mustafa, President & CEO, Telenor Microfinance Bank. “We are committed to playing our role in the promotion of financial inclusion and the overall digital ecosystem in the country. This collaboration reiterates our resolve to be a major player in the digitization of financial services in Pakistan,” he added.

“Careem’s mission is to simplify the lives of our people. We realize the importance of timely payments to captains, they work very hard and should be able to access their earned income with ease. With this partnership we will disburse payments even more quickly and further facilitate them in the process”, said Junaid Iqbal, Managing Director, Careem Pakistan.