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In August 2007, Pakistan started exporting cement to India to fill in the shortage there caused by the building boom. [8] Russia is a growing market for Pakistani exporters. In 2009/2010 the export target of Pakistan was US$20 billion. [9] As of April 2015, Pakistan's exports stand at US$29 billion.
In line with its status as a major port and the country's largest metropolis, it accounts for most of Pakistan's revenue generation. According to the Pakistan Federal Board of Revenue's 2006-2007 year-book, tax and customs units in Karachi were responsible for 70.75% of direct taxes, 33.65% of federal excise tax, and 23.38% of domestic sales tax. [3]
The Railway Workers' Union was founded in 1948 by Pakistani trade union leader Mirza Mohammad Ibrahim. The poet Faiz Ahmed Faiz was elected as first Office Secretary. In 1960, RWU had 93,841 members in Pakistan. [2] In October 1967, RWU went on strike in Lahore against price hikes and the unavailability of wheat.
TCP is one of Pakistan's most evident profit making public enterprise. Beginning rather modestly with a trade worth around Rs115.763 million in FY 1967–8, TCP registered a turnover of Rs45.16bn and booked after–tax profits worth Rs1.63bn in FY 2009–10. [4]
During this period, Pakistan faced a worsening trade balance, with deficits increasing from −831 million Rupees in 1950/51 to −1043 million Rupees in 1959/60. Economically, agriculture grew at an annual rate of 1.6%, while manufacturing expanded impressively at 7.7% per annum during the 1950s.
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The FTA is projected to increase bilateral trade to $5 billion between the years 2016 and 2019 and then to $10 billion by 2022. [4] [5] The free trade agreement between the two countries was expected to be signed before the end of 2016. [6]
WASHINGTON (Reuters) -President-elect Donald Trump cannot ignore a law requiring Chinese-based ByteDance to divest its popular short video app TikTok in the U.S. by early next year or face a ban ...