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A denim factory could hold the key to reviving Pakistan’s exports

NEWS DESK: A denim factory in Karachi could hold the key to reviving Pakistan’s ailing exports, said a report published by Bloomberg. With many retailers shifting textile orders to cheaper and more timely suppliers in rival Bangladesh and Vietnam, Pakistan’s manufacturers have long-suffered from power cuts, an expensive exchange rate and what they claim is…

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Textile exports surge 7.66 percent, mount to $5.510bln in five months

ISLAMABAD: The textile exports from the country increased by 7.66 percent during the first five months of current fiscal year as against the exports of the corresponding period of last year. The overall textile exports from the country were recorded at $5.510 billion during July-November (2017-18) against the exports of $5.118 billion during July-November (2016-17),…

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PM calls upon political opponents to wait till PML-N govt completes its term

ISLAMABAD: Prime Minister Shahid Khaqan Abbasi said the next general election would be held on time next year and political opponents should wait patiently till the Pakistan Muslim League- Nawaz completes its term. In an interview with the state television, he said that the strength of democratic system is linked with its continuity and completion…

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Textile exports grew by 7.91 percent in first quarter

ISLAMABAD: The textile group exports from the country during first quarter of current financial year witnessed about 7.91 percent increase as compared the exports of the corresponding period of last year.    Textile group products worth US$ 3.257 billion were exported during the period from July-September 2017-18 as compared the exports of US$ 3.018 billion of…

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Tomato Crisis: How it has different meanings for Pakistan and India

By: Muhammad Luqman This time, it is the shortage of tomato that has brought worries to almost every household in Pakistan. The prices of the red vegetable, used in all the  food dishes especially meat curries in the South Asian country, suddenly started rising ahead of Eid-ul-Adha , the Islamic festival  and later hiked to…

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Pakistan’s exports increase 10.58 percent in July

ISLAMABAD:The country’s exports witnessed 10.58 percent increase during the first month of the ongoing fiscal year (2017-18), compared to the corresponding month of last year. Pakistan exported goods worth $1.631 billion in July 2017 compared to the exports of $1.475 billion in July 2016, showing upward growth of 10.58 percent, an official in ministry of…

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China tells Trump not to link trade to North Korea

BEIJING: China said Monday the US should not link trade to discussions about North Korea’s nuclear programme, after President Donald Trump accused Beijing of failing to restrain Pyongyang despite profiting from business with America. “We believe that the North Korea nuclear issue and China-US trade are two issues that are in two completely different domains,”…

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PM announces Rs180 billion package to boost exports

ISLAMABAD: Prime Minister Muhammad Nawaz Sharif Tuesday announced a major Rs180 billion package of “Export-led growth” to enhance country’s exports over the next eighteen months. He was addressing a function of leading exporters here at the PM Office. The event was also attended by Minister for Finance Ishaq Dar, Minister of Commerce Khurram Dastgir Khan,…

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Foreign reserves soar to $24b level: Ishaq Dar

ISLAMABAD: Federal Finance Minister Ishaq Dar said the government is making efforts to improve economy, foreign reserves and exports.        In an interview, he said foreign reserves have touched twenty four billion dollars mark due to prudent policies of the government. Ishaq Dar said a huge investment is being made in the energy sector under…

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Edible oil import reduces by 6.92%, 39.38% in five months

ISLAMABAD: Import of edible oil into the country including soya bean and palm oil during first five months of current financial year reduced by 33 percent and 6.93 percent respectively as compared to the imports of corresponding period of last year. Soya bean oil import into the country during the period from July-November, 2016 reduced…

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Boosting exports top priority of govt: PM

  KARACHI: Prime Minister Muhammad Nawaz Sharif has said boosting the exports of the country is the top priority of the government. He was talking to a group of leading industrial exporters of the country who met him in Karachi on Thursday. The Prime Minister said economic growth and exports are interlinked. He said we…

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Iran oil exports surpass 2 million barrels per day: minister

TEHRAN: Iran’s oil exports have surpassed 2 million barrels per day following the lifting of sanctions under its nuclear deal with world powers, Oil Minister Bijan Zanganeh said on Sunday. “Iran’s oil and gas condensate exports are now at more than 2 million barrels per day” after rising by 250,000 bpd since March 1, the…

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Shortage of Supply or Consumer Exploitation?

Wherein most of the commodities prices have declined to record lows in the international market. In Pakistan there has been an opposite surge where prices of basic commodities have inflated. Different market associations, trader alliance have increased the rates of pulses, rice, sugar and milk from 10 to 15 percent. Which itself is indicative of…

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Oil falls on prospect of higher Iranian exports

LONDON: Oil prices fell on Wednesday as investors digested the likely impact of increasing Iranian fuel exports at a time of heavy oversupply. A milestone nuclear deal reached on Tuesday between six world powers and Iran will mean sanctions that have limited sales of Iranian oil for several years are likely to be lifted in…

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Textile exports to be raised to $26 bn in 5 years: minister

ISLAMABAD: Minister for Textile Industry Abbas Khan Afridi on Monday said the country's exports of textile sector would be raised from current volume of US$ 13 billion to $26 billion per year in five years. Announcing the new textile policy 2014-19 in a press briefing here, the minister said the government would shift focus from…

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EU trade deal boosts Pakistan exports by $1bn: minister

ISLAMABAD: Pakistani exports to the European Union increased by more than a billion dollars after a landmark trade deal last year which made its products more competitive, the commerce minister told AFP. The EU signed a law in late 2013 granting Pakistan so-called “GSP-plus” status, which means firms pay no tax on certain categories of…

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'Bosnia can become gateway to Pakistani products to Europe’

ISLAMABAD – Bosnian ambassador to Pakistan Dr Nedim Makarevic said here on Saturday that Bosnia could become a gateway to Pakistani textile, sports and surgical instruments for their export to Europe to the benefit of two countries. Bosnia Herzegovina offers you a gateway to the European Union, he told APP in an exclusive interview here….

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Textile exports up 8% in 3 quarters

ISLAMABAD: Exports of textile products from the country witnessed positive growth of 7.99 percent during the first nine months of the current fiscal year when compared to the corresponding period of last year.  The overall textile exports from the country were recorded at $10.385 billion during July-March (2013-14) as compared to the exports of $9.616…

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Pakistan exports 1209 mln ton oranges in six months

ISLAMABAD: Pakistan has exported 1209.1 million ton of oranges during first six months of current fiscal year which contributed millions of dollar to national kitty. Pakistan has more than 250 processing plants in production areas of citrus to keep the taste, aroma and enhance shelf life of citrus fruit where oranges can also be processed….

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Iran oil exports show steady increase

TOKYO: Iran exported oil at levels higher than allowed under Western sanctions for a fourth straight month in February with ship loading data obtained by Reuters showing top clients again bought more than 1 million barrels per day (bpd). The rise in sales to Iran's main clients, mostly in Asia and including Turkey, comes after…

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Libya says will bomb North Korean ship if it exports seized oil

TRIPOLI: Libya threatened on Saturday to bomb a North Korean-flagged tanker if it tries to export oil from a rebel-controlled port east of Tripoli, in a major escalation of a standoff over the country's petroleum wealth. The rebels, who have seized three major ports since August to demand more autonomy, warned Tripoli against staging an…

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