M. M. ALAM
KARACHI: Director General National Accountability Bureau (NAB) Muhammad Altaf Bawani while talking here at Karachi Chamber of Commerce and Industry told that according to a research conducted by NAB it transpired that cost of doing business in Pakistan augmented by 20% due to corruption.
Negating a member’s observation that government employees were corrupt due to being underpaid, Altaf Bawani held that there was a minor difference between need-based and greed-based corruption. Those who are not content should opt for other professions.
He told that 35 personnel of NAB were investigated for their involvement in corruption and many were still languishing behind bars.
Speaking about the importance of educating youth vis-à-vis corruption Altaf Bawani informed that with the support of HEC, NAB was approaching University and school students, particularly girls.Earlier President KCCI Muffasar Atta Malik, pointing out that due to corruption legitimate investors suffered, asked to computerize processes and minimize human to human contact.Chief of BMG Group Siraj Kassam Teli said that only businessmen who send their own capital abroad were targeted for corruption because they could not retaliate, while politicians, bureaucrats and generals were not nabbed though they usurp nation’s money.
Motor bikes and three-wheelers’ sale up by 16.18%
PSX: Bears stay put in the bourse!
KARACHI: Benchmark KSE-100 Index closed in the red (41,637) losing 721 points on the week’s last trading day.
Rs. 7.65b worth of 179m shares changed hands today. Value of the shares of 238 companies plummeted, 79 augmented while 16 remained stagnant.
While Commercial Banking Sector led the trade with 43.2m shares, the five leading traders of the shares today were: K-Electric Ltd., 20.3m shares (-3.27pc); Bank Of Punjab, 15.9m shares (-2.74pc); Lotte Chemical Pakistan Ltd., 11.9m shares (-1.78pc); Summit Bank Ltd., 9.1m shares (-1.38pc); Pakistan Elektron Ltd., 8.2m shares (-4.76pc).
Belarus ready to supply 20K tonnes of beef to China annually
MOLODECHNO: Belarus is ready to supply 20,000 tonnes of beef to China annually, Aleksei Bogdanov, Head of the Central Office for Foreign Economic Activities of the Belarusian Agriculture and Food Ministry said.
“In terms of beef supplies to China, we are limited by the number of certified companies. For the time being, there are only two of them. The Agriculture and Food Ministry is working to expand the list of such enterprises. This task is under control of the minister. As the number of companies that can supply beef to China increases, so will the volume of exports.
We are potentially ready to supply up to 20,000 tonnes of beef to China per year,” he told media. Belarusian enterprises seek to enter the Chinese market with finished goods not only with raw materials. “Of course, there are certain difficulties associated with the shelf-life of products.
Today we are working actively to reduce the delivery time using rail transport. Now the dairy industry is making great headway and has started to export finished products to China such as cheeses and packaged butter and are working to make inroads into the yogurt market. We are gradually expanding the range of products.
Today there is an interest in the shipments of Belarusian canned beef to China. This issue is under consideration,” Aleksei Bogdanov said.
With an export of 220,000 tons, Belarus remained one of the world’s largest meat exporters: