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“Zero Tolerance Policy”: Fruitful Countermeasures Against Power Pilferage, Hoarding, and Smuggling

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Since the initiative represents the leadership’s dedication to upholding the law and safeguarding the nation’s economy, the Government of Pakistan’s “zero tolerance policy” has begun to bear fruit.

The policy steps against smuggling, hoarding, and electricity pilfering, according to a statement, are intended to break up illicit networks, stabilize markets, and guarantee the availability of necessities at fair prices.

Many arrests and billions of rupees in recoveries have been made as a result of the regulations, which are enforced starting September 1, 2023, with support from the Special Investment and Facilitation Council.”

Three thousand and twenty-nine metric tonnes of illegal fertilizer movement have been stopped during anti-smuggling operations.

As part of their efforts to stop the smuggling of necessities, authorities also apprehended 361 metric tons of wheat and flour from smugglers.

The illicit sugar profiteering was stopped during the course of the last eleven months thanks to the seizure of 34,731 metric tonnes of sugar.

With the seizure of 149,710 rolls of fabric, the illicit textile market was pushed back.

Additionally, 7 million liters of Iranian oil were seized as a result of the smuggling crackdown, which helped to stabilize the fuel market.

Authorities have guaranteed farmers’ access to 43,644 metric tons of fertilizer that they had taken from hoarders since September 2023.

Parallel to this, hoarding led to the recovery of 2,505 metric tons of wheat, 57,051 metric tonnes of ghee, and 10,907 metric tonnes of sugar from market price manipulators.

Over 83,295 power thieves were detained by law enforcement agencies, which also recovered Rs 104 billion from those involved in power theft, totaling 173,212 feces against those implicated.

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Islamic Sukuk Bonds: Government Is Expected To Begin Bond Auction Next Week

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There is now more positive economic news for the people of Pakistan. The government is anticipated to begin the Sukuk Islamic Bond auction next week, after the central bank’s announcement of a large drop in the policy rate.

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SIFC Encourages Green Tourism: Reforming Visas to Increase Investment

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Enhancing investment in the tourism sector, Green Tourism Pakistan’s initiative has received backing from the Special Investment Facilitation Council.

Visa-On-Arrival for 126 countries, Visa-Free Entry for Gulf Cooperation Council nations, and 24-hour expedited visa processing are some of the main features of the Green Tourism Visa Policy.

It is anticipated that these endeavors will draw in about 80 million dollars in foreign direct investment and 8.3 billion rupees in domestic investment.

Green Tourism Private Limited has introduced hunting resorts in Naltar, Hunza, and Skardu, along with four- and five-star city hotels, to improve the tourism experience.

In the first phase of the project, 17 of the 78 areas have seen the start of development activity.

Approved is a central authority for Green Tourism that will supervise the growth of Air Operations.

To promote Religious Tourism, extra precautions have been taken to guarantee the security of visitors from all religions, including Sikhs and Buddhists.

Furthermore, in order to improve the quality of the tourist experience, the green guide quality program has been introduced to supply top-notch tour guides.

There is now a deluxe bus excursion from Islamabad to Peshawar that promotes local culture.

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July 2024 export data from Pakistan shows a significant rise.

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The Strategic Investment Facilitation Council (SIFC) has been instrumental in improving Pakistani products’ access to international markets, as seen by the significant surge in exports from the country at the start of the 2024–25 fiscal year.

With a 7.26% rise over the same month the previous year, July 2024 exports to the US were $476.017 million. After increasing by 7.74% annually, the United Arab Emirates emerged as the second-largest export destination.

The third and fourth places were occupied by exports to the UK ($183.303 million) and China ($60.100 million). A substantial increase in exports to Afghanistan was recorded in July of this year, rising from $46.262 million to $88.065 million, largely due to successful anti-smuggling efforts.

With a combined export volume of $553.951 million, more important export destinations included Germany, the Netherlands, Italy, Spain, Saudi Arabia, and Turkey.

A bright future for the national economy is suggested by the growing confidence major international markets have in Pakistani exports. Through the efforts of SIFC and the government, this greater access to global markets has been made possible.

Pakistan’s economy is predicted to remain stable as a result of the export growth that SIFC has enabled.

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