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Business

Punjab to impose property tax on all vacant plots

LAHORE: The government of Punjab has decided to enforce property tax on all vacant plots across the province, officials say. The Punjab Excise and Taxation (E&T) Department has already completed surveys in major cities including Lahore, Faisalabad, Multan and Gujranwala and identified about 250,000 vacant plots that will come under …

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Chinese ship, trade convoy reach Gwadar port

GWADAR: The first trade convoy carrying Chinese goods for export through the western route of the China-Pakistan Economic Corridor (CPEC) and a Chinese ship arrived at the port here on Friday. Official sources confirmed the anchoring of the ship at the port and said another vessel was expected to arrive …

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Finance minister vows to support Railways upgradation

ISLAMABAD:  Federal Minister for Finance Ishaq Dar on Wednesday chaired a meeting to review the financing arrangements of the “Up-gradation of the Main-Line-1 (ML 1) of Pakistan Railways,” one of the early harvest projects of the China Pakistan Economic Corridor (CPEC). Minister for Railways Khawaja Saad Rafique and Minister for …

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World Bank to provide technical assistance for developing tariff policy

ISLAMABAD: World Bank has agreed to provide technical assistance to Pakistan for the development of a new tariff policy structure. A high-level World Bank delegation led by its Country Director Patchamuthu Illangovan and Senior Director, Trade and Competitiveness Ms Anabel Gonzalez here on Tuesday met Minister for Commerce Engineer Khuram …

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Gwadar-Quetta road to be completed next month

LAHORE: The development work on the China-Pakistan Economic Corridor (CPEC) was in full swing and the Gwadar-Quetta road would be completed by next month, which was ahead of schedule, said Federal Minister for Planning, Development and Reform Ahsan Iqbal. Speaking at the inauguration of the International Business Conference and Exhibition …

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Ecnec approves Rs187bn development projects

ISLAMABAD: The Executive Committee of the National Economic Council (Ecnec) on Monday approved eight development projects, most of them in the power sector, worth about Rs187 billion. Presided over by Finance Minister Ishaq Dar, the meeting also approved a Rs16.415bn transmission line project for a 1,320-megawatt power project at Hub …

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Iran invites Pakistan for free trade talks

ISLAMABAD: In a significant leap towards a free trade agreement (FTA), the Iranian authorities have asked Pakistan to send a delegation to Tehran for kicking off formal negotiations for liberalising commerce between the two neighbours. “Iran has finally invited Pakistan to bring a delegation by the end of this month …

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Dollar jumps after Clinton gets eleventh-hour election boost

WASHINGTON: The dollar jumped on Monday as news that Hillary Clinton would not face criminal charges related to her use of a private e-mail server gave the US presidential contender an eleventh hour boost before the Nov. 8 election. Clinton has been on the defensive for 10 days since the …

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French car manufacturer company Renault to produce cars in Pakistan

ISLAMABAD: Renault will start producing vehicles in Pakistan in 2018, the Board of Investment (BOI) announced on Thursday. Miftah Ismail, the BOI chairman, told Dawn that the French car manufacturer had submitted its application to the government for the manufacture of vehicles. The application is now under process at the …

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Gold hits one-month high

LONDON: Gold, silver and platinum rallied to one-month highs on Tuesday as concerns over the outcome of the US election sparked losses in stocks and the dollar, prompting investors to seek out precious metals as a haven from risk. Spot gold hit its highest since early October at $1,289.53 an …

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