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Government
of Pakistan Board of Investment
(Public Affairs Wing)
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News
from Pakistan (16-12-2002)
- A
new action plan has been chalked out to achieve sales
tax target of Rs 108.75 billion at the import stage.
The federal tax authorities have ordered investigation
against importers allegedly involved in clearance of
consignments using fake sales tax registration certificates
and sales tax returns.
- The
Oil Companies Advisory Committee failed to sustain
the trend of the past two fortnights and raised the
oil products prices by as much as 2.55 percent after
crude oil prices rose and the rupee fell against the
dollar in the past two weeks.
- The
yields on 10 year and five year Pakistan Investment
Bonds in the debt market are at the lowest, indicating
that the central bank might cut coupon rate by as much
as 250 basis points.
- The
Privatization Commission is expected to receive eight
proposals from the companies or consortiums to qualify
for Financial Advisory Services for the privatisation
of Peshawar Electric supply Company Limited.
- Punjab
Chief Minister in an epoch decision to boost up agriculture
in Punjab has lowered the rates of mark up on agricultural
loans on fertilizer, seeds and medicines from 13 to
nine percent.
- Prime
Minister's Adviser on Finance has said that compared
to its status three years before, the national economy
had come out of the intensive care unit and was recuperating
in the General Ward.
- Modaraba
sector in the country in 2002 saw some massive restructuring
and about seven mergers materialized and five managements
were changed in order to survive in the financial sector
and to increase the profit numbers.
- Federal
Commerce Minister has said that improvement in economic
growth rate and providing relief to the common man
are top priorities of the present democratic government.
- It
seems that foreign exchange reserves of the country
are increasing at a rate higher than expected by the
authorities. These exceeded $ 9 billion during the
week ended on November 30, 2002, exactly one month
before the targeted date.
- Prime
Minister on Sunday reiterated that Pakistan believed
in resolution of all issues with India through peaceful
means.
(Amir
Sultan)
Dy. Director (PA)
16-12-2002
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