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Government
of Pakistan Board of Investment
(Public Affairs Wing)
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News
from Pakistan (3-1-2003)
- The
government announced three lucrative incentives to
attract new commercial exporters, enhance scope of
Gold and Silver categories and expedite payments of
sales tax refund for expanding the export base.
- Privatisation
Commission has offered the management control of Faisalabad
Electric Supply Company through acquiring 56 percent
interest of the company by qualified strategic investors.
- The
government issued the first Prospecting Licence for
gold at two sites in Northern Areas as part of policy
to develop mineral resources on fast track basis.
- Country's
foreign exchange reserves have taken another long jump
with 245 million dollars in a week but it was mainly
because of Asian Development Bank loan and Privatisation
proceeds.
- The
bilateral rescheduling agreements of $ 5.3 billion
and around $ 700 million loans owned to Japan and Korea
have been finalised.
- The
stock market witnessed buying from the domestic investors
on expectation that government's decision to cut rates
on national saving schemes will attract fresh funds,
helping the bulls to consolidate their position.
- The
Collectorate Customs of Port Qasim collected Rs. 21
billion as duty and taxes during the first six months.
- State
Bank of Pakistan has developed a new set of guidelines
in consultation with the banks and Federation of Pakistan
Chambers of commerce and Industry regarding write-off
of irrecoverable loans and advances.
- The
rupee on Thursday started its first trading of the
year 2003 on a firm note, showing six paisa net gain
in the inter-bank market for buying and selling at
Rs 58.28 and Rs 58.30, respectively.
(Iqbal
Ahmad Khan)
Director (PA/IF)
3-1-2003
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