Tag Archives: Deals

Export deals will hit snags, says Ministry of Commerce

KARACHI – Export deals, worth millions of dollars, are likely to hit a snag as the Ministry of Defence, citing security reasons, is reluctant to issue VIP protocol passes to exporters for receiving their buyers at airports.
Though extended dates of the protocol passes, issued to the exporters, are going to expire by February 9, 2011, both the ministry of Defence and Ministry of Commerce are yet to arrange the new passes despite repeated requests by the country’s exporters,

Wheat purchase deals settled

LAHORE – Punjab Food Minister Chaudhry Abdul Ghafoor has said that agreements for the sale of 1.478 million tonnes of wheat have been finalised out of which the food department has so far released 100,000 tonnes of wheat to different private parties. While the remaining stock will be lifted by the parties concerned by April 30, this year, the Minister said in a statement.
He said that government will not increase the price of wheat despite the increase in rates of this commodity

Reqo Diq mining – Balochistan govt presenting record of deals in SC today

ISLAMABAD – Complete record of Reko Diq deals with the foreign exploration and mining companies will be presented by the Balochistan government before the Supreme Court today (Monday).
Advocate General Balochistan Salahuddin Mengal will present the record before a four-member bench comprising Chief Justice Iftikhar Muhammad Chaudhry, Justice Muhammad Sair Ali, Justice Ghulam Rabbani and Justice Khalilur Rehman Ramday.
The bench is hearing petitions against leasing of Reko

Balochistan presents Reko Diq deals record in SC

ISLAMABAD – Advocate General of Balochistan Salahuddin Mengal told the Supreme Court on Friday that the provincial government had issued 10 licenses to the foreign companies for exploration of natural reserves at Reko Diq.
A four-member bench comprising Chief Justice Iftikhar Muhammad Chaudhry, Justice Muhammad Sair Ali, Justice Ghulam Rabbani and Justice Khalilur Rehman Ramday, was hearing a case against leasing of Reko Diq gold and copper mines in Balochistan worth over $260

Supreme Court seeks details of Reko Diq deals with foreign firms

ISLAMABAD – The Supreme Court on Thursday directed the Balochistan government to provide details of agreements it made with foreign companies for exploration of gold and copper mines in Reko Diq area in Balochistan.
A four-member bench – comprising Chief Justice Iftikhar Muhammad Chaudhry, Justice Muhammad Sair Ali, Justice Ghulam Rabbani and Justice Khalilur Rehman Ramday – was hearing a case against leasing of Reko Diq gold and copper mines in Balochistan worth more than $260

Additional chief secretary deals a blow to PMS

Lahore – The Punjab government’s efforts to meet demands of Provincial Management Service (PMS) officers got a jolt when the Punjab additional chief secretary (ACS) slashed the number of BPS-17 posts, further reducing numbers of the PMS cadre, Pakistan Today has learnt. According to details, the total number of posts in BPS-17 of the Services and General Administration (S&GAD) has been decreased from 1,204 to 984, showing a net decrease of 220. Moreover, the cadre strength of PMS

MQM deals deadly blow to coalition

ISLAMABAD/KARACHI – The Muttahida Qaumi Movement (MQM) on Sunday finally pulled out of the ruling coalition as it decided to sit on the opposition benches in the Centre, forcing the already number-weak government into a minority with 160 members on its side in a House of 342.
A minimum of 172 members are required to form a simple majority in the National Assembly. The MQM decision came after its coordination committee, which simultaneously met in Karachi and London, chose to sit

India, Russia sign deals for jets, nuclear cooperation

NEW DELHI: Russia and India on Tuesday agreed on a series of defence and nuclear deals potentially worth billions of dollars and pledged to deepen cooperation on counter-terrorism and regional security.
The agreements surrounded talks in New Delhi between visiting Russian President Dmitry Medvedev and Indian Premier Manmohan Singh, during which both sides set a target of doubling bilateral trade to 20 billion dollars by 2015. They also signed a contract envisaging the joint

Russia, India sign deals on fighter jets, nuclear energy

NEW DELHI – Russia and India on Tuesday signed a pact worth up to 30 billion dollars on the development of a fifth-generation fighter aircraft and agreed to pursue a deal to build two Russian nuclear reactors.
The agreements surrounded talks in New Delhi between visiting Russian President Dmitry Medvedev and Indian Prime Minister Manmohan Singh, during which both sides set a target of doubling bilateral trade to 20 billion dollars by 2015.
President Medvedev arrived in India

China inks $40b deals with Pakistan

ISLAMABAD – Pakistan and China on Saturday concluded agreements of nearly $40 billion, with both sides signing a total of 35 memoranda of understanding (MOUs), agreements and joint ventures to transform bilateral and friendly time-tested cooperation into strategic level partnership.
Cooperation in the energy sector remained the top priority as both countries signed the agreements, prominent of which was a $6.5 billion-agreement on alternate energy and $3.5 billion agreement for

China to sign more than $16b of deals with India

NEW DELHI: Chinese Premier Wen Jiabao said on Wednesday China may give greater access to India’s IT, pharmaceutical and agricultural industries, as Chinese companies will sign more than $16 billion worth of deals with Indian companies, according to Reuters.
Wen, making his first visit to India in five years, said China and India’s future prosperity lies in partnership not rivalry. Heading a 400-strong delegation of Chinese business leaders aiming to boost trade ties and ease

Pakistan asks India to honour cotton import deals

ISLAMABAD: Pakistan has raised the issue of cotton bales with India asking it to respect deals already finalised by the private sector of the two countries. This was stated by the Minister for Textiles Rana Muhammad Farooq Saeed Khan, while talking to media following a meeting of the National Assembly Standing Committee on Textiles.
He said that Pakistan has asked India to allow import of 300,000 bales of cotton for which deals had already been signed. “We have asked India not

‘Phas Gaye Re Obama’ deals with recession in underworld

NEW DELHI: Subhash Kapoor, director of ‘Phas Gaye Re Obama’, a small budget comedy starring Neha Dhupia and Rajat Kapoor, says the film shows the repercussions of the global recession on the world of crime. “People see the global recession as a phenomena triggering unemployment and fall in market income.
But it had a deep impact on everyone and we have taken an initiative to portray this anxiety in a humourous way,” said director Subhash Kapoor during the special screening of

Obama unveils deals on ‘job fair’ visit to India

MUMBAI: President Barack Obama on Saturday announced $10 billion in trade deals with India to create 50,000 US jobs, on a visit that began with an emotional tribute to victims of the 2008 Mumbai attacks.
Kicking off a four-nation Asian tour weighted towards prying open new markets for US goods, Obama also said he would relax technology export restrictions imposed after India’s nuclear tests back in 1998. “As we look to India today, the US sees an opportunity to sell our exports

PCB deals another blow to the tainted trio

LAHORE: The Pakistan Cricket Board has suspended the contracts of the trio of former captain Salman Butt, Muhammad Asif and Muhammad Aamir. The action came after Salman Butt and Muhammad Aamir spoke aggressively against the International Cricket Council and the PCB.
Salman and Amir accused the ICC of having an anti-Pakistan agenda after their suspensions for alleged ‘spot-fixing’ were upheld. They even criticized the PCB for leaving them alone to face allegations that did not

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