Overall exports posts growth of 8.0 pc : Economic Survey

Overall exports posts growth of 8.0 pc : Economic Survey
Import compression measures lowering domestic demand coupled with fall in international oil prices initially have started paying dividends and imports witnessed slowdown, it adds.
The survey revealed depreciation of rupee had also played a significant role for lower imports during current fiscal year.
Imports of the petroleum group registered a positive growth of 1.3 percent and reached to $8,118.6 million. The increase in imports of the petroleum group has been due to rising quantity import of petroleum products.
The imports of telecom declined by 30.1 percent during July-April 2009-10 followed by imports of food group which exhibits negative growth of 21.3 percent. Machinery group witnessed a negative growth of 10.6 percent during the period under consideration.
Trade deficit improved by 13.9 percent from $14,218 million in July-April 2008-09 to $12,238 million during July-April 2009-10.

PPP government to promote democratic culture: Pervez Ashraf

PPP government to promote democratic culture: Pervez Ashraf

ISLAMABAD, Feb 18 (APP): Minister for Water and Power Raja Pervez Ashraf on Wednesday said that Pakistan People’s Party’s government will continue to work for promotion of the democratic culture in the country.

Talking to APP in connection with Day of Democracy being celebrated in the country on Wednesday, the minister reiterated government’s resolve for political stability, economic prosperity and welfare of the nation.

He said the government is committed to implementing the mandate of country people by ensuring that all national decisions are taken with complete consensus from public representatives.

Pervez Ashraf said that it is endeavor of PPP government to turn the country into a true democratic, progressive, welfare state in the light of the vision of late Zulfikar Ali Bhutto and Mohtarma Benazir Bhutto.

He asked country men and political parties to play role to strengthen democracy in the country. He said the government is committed to addressing all national issues including energy deficit due to increasing gap between power demand and supply.

He assured that by December 2009 the government will include over 3000 MW electricity in the system with the support of private sector. He said there will be no load shedding after December this year and the government will overcome power deficiency by completing all short-term projects within a year.

Chinese Premier visit to further strengthen bilateral relations: Fauzia

Chinese Premier visit to further strengthen bilateral relations: Fauzia

ISLAMABAD Dec 19 (APP): Information Secretary of Pakistan Peoples Party (PPP) Fauzia Wahab Sunday said that Chinese Premier Wen Jiabao’s visit to Pakistan would further strengthen relations between the two countries.Talking to APP, she termed Chinese premier’s address to the parliament as historical one which reflects true spirit of strong-bonds between the two countries. She said address of the Chinese Premier once again testifies warm relations of two neighbouring countries.She said the governments of both countries have time and again vowed to further consolidate the Pakistan-China strategic partnership with the main objective of promoting and safeguarding the fundamental interests of their people.  The leadership of both the countries have expressed their firm resolve to carry forward the decades-old close friendship between the two countries for their mutual benefits.  The people of the two countries have also successfully carried forward their evergreen friendship, under all adversities.

Pakistan, China pledge to stay through thick and thin

Pakistan, China pledge to stay through thick and thin

ISLAMABAD Dec 20 (APP): Chinese Premier Wen Jiabao’s visit was to renew the pledge that Pakistan and China would stand together through thick and thin, and build a common destiny. Pakistan and China set a new pace of fostering their mutually beneficial six decades long relations by taking concrete steps to put their economic and trade cooperation on a new footing to bring prosperity to the region. During the three-day visit of the Chinese Premier the two governments signed agreements and memorandums of understanding to expand their cooperation in multifaceted fields. The two sides held in-depth discussions on every facet of their growing ties during the meetings with President Asif Ali Zardari, Prime Minister Syed Yusuf Raza Gilani, Senate Chairman Farooq H Naek, National Assembly Speaker Dr. Fehmida Mirza, chiefs of armed services and leaders of political parties. Pakistan and China on Friday inked 13 agreements and memoranda of understanding (MOUs) on cooperation in economy, energy, banking, security and technology. On Saturday, Pakistan and China inked another 22 agreements between the business sectors of the two countries, aimed at expanding economic ties. These 35 agreements will bring in around US 25 billion dollars Chinese investment to Pakistan . The business sector agreements were signed at a Pak-China Business Forum, which was attended by about 250 Chinese business leaders and prominent Pakistani entrepreneurs. The Business Forum was convened specifically to help the two countries achieve the target of 18 billion dollars trade by 2015. The MOUs were signed for establishment of cultural centres, for launching of joint Urdu programmes by Radio China and Radio Pakistan and for cooperation between securities regulatory commissions of the two countries. An agreement to provide licence to establish Industrial and Commercial Bank of China (ICBC) by the State Bank of Pakistan (SBP) was signed by SBP Governor Shahid Hafeez Kardar and ICBC President  Yang Kaisheng. China also announced $10 million grant for citizens compensation programme for flood victims and $400 million concession loan to help meet their needs. Both the countries agreed to further intensify cooperation in infrastructure development, energy and agriculture on a priority basis.

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South Africa says climate deal took delicate touch

South Africa says climate deal took delicate touch

national and the international afair trying to force the countries to do more than they are willing and able to do ”would have resulted in a ‘no deal’ in Durban, not only killing the Kyoto Protocol therefore, but possibly even the UN Convention on climate change itself,” Edna Molewa, South Africa’s environment minister, told reporters on Monday.