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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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Japan drafts revision of arms exports ban: source

TOKYO: Japan has drafted new guidelines that would reverse a decades-old ban on weapons exports, a source with knowledge of the matter said on Sunday, a move that could further strain ties with neighbors China and South Korea.Tokyo has been reviewing the self-imposed export ban under Prime Minister Shinzo Abe's new security strategy, aimed at…

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Pakistan textile industry to boost exports, create 1 mln new jobs

Staff ReportISLAMABAD: Pakistan’s textile industry – the backbone of country’s exports – gets a boon after the European Parliament’s decision to grant Islamabad GSP-Plus status. Experts believe that the move will create additional one million jobs in the textile sector while textile exports will get an additional boost of an estimated $2 billion a year.Yesterday,…

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Amazigh protest could halt oil exports at Libya's Mellitah terminal

TRIPOLI: Minority Amazigh, or Berbers, protested on Sunday at a Libyan oil terminal operated jointly with Italy's ENI, threatening to block exports unless their demands for more constitutional rights are met, a company official said.Protesters arrived in boats at the Mellitah complex, a joint venture between ENI and Libya's state National Oil Corporation, said Munir…

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Indonesia confident on APEC green listing for palm oil which would boost exports

JAKARTA: Indonesia is confident that an agreement can be reached with Asia-Pacific countries on listing crude palm oil as an “environmental good”, a move that would cut trade tariffs and boost exports, a trade ministry official said on Thursday.Palm oil output in the world's top producer is forecast to hit 28 million tonnes this year…

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US House passes Iran sanctions bill to slash oil exports

WASHINGTON: The House of Representatives easily passed a bill on Wednesday to tighten sanctions on Iran, showing a strong message to Tehran over its disputed nuclear program days before President-elect Hassan Rouhani is sworn in.The vote also highlighted a growing divide between Congress and the Obama administration on Iran policy ahead of international talks on…

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Maruti Suzuki seeks to raise exports as local sales stall

MUMBAI: Maruti Suzuki, India's biggest carmaker, is seeking to sell more cars overseas to offset slowing demand at home, where it expects sales volumes to grow between zero and 5 percent in the current financial year.The company warned that it expects discounts on car prices to increase in the current quarter due to weak demand,…

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Asian economies struggling to reignite growth while exports sag

BANGALORE: Emerging Asia will show little increase in economic growth rates this year due to weak exports, with China giving more priority to making needed reforms, and India tightening policies to defend its beleaguered rupee, Reuters polls has showed.Prospects for 2014, however, look better with most economies expected to grow faster than this year on…

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