Business - 49

Pakistan is likely to allow national commercial banks to open branches in India. Sources told Daily Times that the matter came up in last week’s trade talks, which were part of the ongoing composite dialogue between Pakistan and India. Opening up bank branches across borders was found to be a way to enhance trade and [...]

The Pakistan Telecommunication Authority (PTA) has awarded a Long Distance and International (LDI) fixed telephone license to the Wise Telecommunication Systems. WiseComm is an international communication service provider, run by a Pakistani Tariq Sharif Bhatti, who is based in France…

Thousands of people gathered outside Ufone branches in the city on August 14, 15 and 16 seeking free connections. The response seemed to take the company by surprise. According to a source in Ufone, the company set a target of 500,000 new connections in the five major cities over the four days. The rush of [...]

No fewer than fourteen companies have recently entered the country’s capital market. That marks a giant leap forward, when compared with just about 15 companies that sought to mobilize funds from equity offerings in the past four years, combined. A handful of companies that have come forward now are those that have made equity offers [...]

In emerging markets like Pakistan, industrial houses tend to be shy to share quite a bit of information about their business operations. No doubt, listed companies now make more disclosures as prescribed by law. They also have to present a corporate profile and credit rating to raise funds from capital market for business expansion and [...]

Pakistan has formally signed the documents and accepted the DNA test condition of the European Union (EU) for the inclusion of its Super Basmati variety in zero-rated duty regime for imports. Now, Pakistan’s super basmati rice will enter the European market without any tariff or non-tariff barriers at zero import duty with the start of [...]

Initially, the Government of Pakistan had to arrange printing of its own banknotes from an English company but later on it started printing its own notes at the Pakistan Security Printing Press in 1953. He said identification of defaced notes was that they had three holes and cannot be used anywhere. Previously, incinerator was used [...]

The Pakistan Telecommunication Authority (PTA) on Friday completed the auction process for the grant of Wireless Local Loop (WLL) licences in five out of 14 telecom regions of the country. The telecom authority granted WLL licences for Faisalabad, Central, Lahore and Gujranwala telecom regions. The auction for the remaining regions would be completed by August [...]

Mobile phone consumers are reaping the benefits of the opening of the telecommunication sector as the mobile phone operators, feeling the heat of expected competition, have improved incentives and services to retain their subscriber base. The facilities being offered by the mobile companies were not thought of in the past. Each of the existing cell [...]

The federal government has allowed overseas Pakistanis to import new and second-hand tractors, bulldozers, combined harvesters and laser land-levellers under the gift, baggage and transfer of residence schemes. This has been disclosed in the detailed revised rules and procedures notified by the commerce ministry for the import of vehicles by expatriates under the gift, baggage [...]