Pakistan News

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  • Global logistics body elects Pakistani as president

    FIATA — International Fede­ra­­tion of Freight Forwarders Associations — is a global body, representing over 50,000 international logistics companies from 150 member countries...

    Mr Badat is the founder chairman of the Pakistan International Freight Forwarders Association (PIFFA), and ran unopposed for the position...

  • 10 banks sign pact to create Pakistan Corporate Restructuring Company Ltd

    KARACHI: The country’s 10 banks signed an agreement on Friday to establish Pakistan Corporate Restructuring Company Ltd (PCRCL)...

    The shareholder agreement was signed by presidents and representatives from Habib Bank, National Bank of Pakistan, United Bank, MCB Bank, Allied Bank, Meezan Bank, Bank Alfalah, Bank Al-Habib, Habib Metropolitan Bank and Faysal Bank at the State Bank of Pakistan (SBP) headquarters...

  • Dutch company to acquire Engro Foods Ltd

    FrieslandCampina International Holding BV intends to acquire a 51 per cent stake of Engro Foods Limited, one of the largest listed companies at the Pakistan Stock Exchange (PSX), a notification on the bourse's website said Thursday...

    Citibank Pakistan is the financial advisor...

  • AGP Ltd raises Rs2.8 billion

    KARACHI: AGP Ltd, a pharmaceutical company in the fold of OBS Group, has raised Rs2...

    At the gong-ringing ceremony at the PSX on Monday that signalled the start of trading of company’s stock, AGP Ltd share price quickly hit the upper circuit of 5 per cent to take the stock price to Rs84, from the offered price of Rs80 a share...

  • ‘Logistics industry must prepare for CPEC challenges’

    KARACHI: Port Qasim Authority (PQA) Chairman Agha Jan Akhtar has said that the government is simultaneously working on a number of mega projects for enhancing the capacity of logistics industry by providing improved connectivity through ports, railways and road network...

    The improved connectivity will help in quick turnaround of vessels at ports for which railways, customs and logistics industry will have to play a supportive role...

  • Conspiracies of enemies foiled, says logistics chief

    QUETTA: The Chief of Logistics Staff, Lt Gen Ghayyoor Mehmood, has said that the army is playing a pivotal role in defeating the enemies at all fronts by foiling their nefarious designs and tactics against the country...

    However, he noted, Pakistan had succeeded in foiling the conspiracies hatched by its enemies...

  • India, US ‘agree in principle’ to share military logistics

    NEW DELHI: India and the United States have agreed in principle to share military logistics, United States (US) Defence Secretary Ashton Carter said on Tuesday, as both sides seek to counter the growing maritime assertiveness of China...

    Washington has been urging New Delhi to sign a Logistics Support Agreement that allows the two militaries to use each other's land, air and naval bases for resupplies, repair and rest...

  • National Logistics urged to formulate 5-year business plan

    While chairing 57th meeting of the National Logistic Board here, he directed that the NLC should identify mid-to-long term targets for enhancing the operational capability and efficiency of the NLC for future trucking and logistic needs, especially in the backdrop of China-Pakistan Economic Corridor (CPEC) which would generate enormous opportunities in logistic sector...

  • FIA launch probe against PCB’s logistics department

    LAHORE: The Federal Investigation Agency (FIA) Lahore has launched another investigation into the affairs of the Pakistan Cricket Board (PCB)...

    A source in FIA told Dawn on Wednesday that it had started investigation against the officials of the logistics department of the PCB for taking ‘commission’ from a tour operator for approval of contract...

  • National Logistics to run Dhabeji Special Economic Zone

    KARACHI: Sindh Board of Investment (SBI) and National Logistics Cell (NLC) have signed a memorandum of understanding (MoU) to collaborate and promote the creation of a Logistics Park within the proposed China-Pakistan Special Economic Zone (SEZ) in Dhabeji-Thatta...

    Through this agreement both sides will actively carry out the engagements for establishment of the Logistics Park, in accordance with the master plan and feasibility...

  • Senate body approves bill to regulate courier, logistics services

    ISLAMABAD: Nine years after its inception, the draft bill to establish a regulatory body for courier and logistics businesses has been approved by the Senate Standing Committee on Postal Services...

    Stakeholders invited to the meeting and Senator Mirza Mohammad Afridi objected to the bill on the grounds that the new authority would grant leverage to the Pakistan Post, contrary to the environment of fair competition in the sector... ...

  • ADB stresses framework for logistics industry

    ISLAMABAD: The Asian Development Bank, in a report released on Thursday measuring and evaluating facilitation of trade along the Central Asia Regional Economic Cooperation (Carec) nations, identified major inefficiencies in Pakistan’s border trade costs and procedures...

    The findings highlight impediments that were detrimental to Pakistan’s competitiveness, where the road sector accounts for 96 per cent of all freight movements... ...

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