Govt may sack heads of poorly performing power companies
The government may sack heads of three power distribution firms for consumer overbilling and failing to bring improvement and efficiency in the system. Federal Minister for Power Division Sardar Awais Ahmad Khan Leghari directed on Thursday to issue final warnings and final notices to chief executive officers of Sukkur Electric Power Company (Sepco), Hyderabad Electric Supply Company (Hesco) and Quetta Electric Supply Company (Qesco).
Five firms plan to set up cellphone assembly lines
Pakistan is finally going to start manufacturing mobile phones locally as five mobile companies are looking to set up their assembly lines in the country. The development is set to attract foreign direct investment (FDI) worth millions of dollars and is expected to reduce the country’s growing import bill. The companies that sought the government’s permission to set up assembly lines include Haier, G5, Jio Phone, Mobo Mobiles and Foxconn.
Commerce ministry distances itself from FBR’s decision
The Ministry of Commerce on Thursday distanced itself from the decision of imposing regulatory duties on big ticket items such as industrial raw material and put the entire blame on the tax authorities.
“The Federal Board of Revenue (FBR) deviated significantly from the list of items that the commerce ministry shared with it for the levy of regulatory duties on non-essential items to curb imports,” Additional Commerce Secretary Anjum Assad Amin said.
Pakistan’s trade with Belgium crosses $1b mark
Trade between Pakistan and Belgium has been growing steadily over the years, but there is still potential to maximize the trade and economic ties. Sector-specific measures are required to enhance the two-way commerce to the desired level.
In 2015, the level of bilateral trade stood at $817 million, which increased to $1.22 billion in 2016. Increasing trends were witnessed both in imports and exports over the last two years, which led to a healthy transformation in bilateral trade.