|
|
|
Government
of Pakistan Board of Investment
(Public Affairs Wing)
|
|
News
from Pakistan (6-1-2003)
- The
Central Board of Revenue tax consultants, Maxwell Stamps,
have strongly recommended to abolish the third Schedule
of the Sales Tax Act, 1990, bringing fruit/vegetable
juices, ice cream, aerated waters/beverages, syrups
and squashes and cigarettes in the normal GST regime
to expand retailers/wholesalers' registration network.
- Pakistan
Industrial Credit and Investment Corporation has allocated
over Rs. 1 billion to finance the ailing sugar industry
in Sindh.
- The
stock market had a smooth sailing last week ending
on January 4, 2003, and stayed well above 2,700 points
mark.
- The
rate cut on National Savings Schemes by 160 to 200
basis points is likely to provide another booster to
the stock market which has already gained 112 percent
in 2002, emerging best performing bourses in the world.
- Secretary
Petroleum emphasized the need to start oil and gas
exploration in Balochistan in order to meet the increasing
hydrocarbon demand in the country.
- Due
to ample liquidity in the money market and cut in discount
rate by the State Bank of Pakistan have reduced the
yield on three, five and 10 year bonds to nearly half
in just a little over three months.
- During
last week the badla rates at KSE and LSE continue to
remain on the higher side and weighted average badla
rates remained at 22.2 percent and 33.5 percent.
- The
City District Government Karachi has planned to establish
a Computer University in the city.
- The
traveling public has welcomed the decision of the Pakistan
Railways to reduce the fares on economy and second
class seats.
- The
government will launch a countrywide campaign against
the sale of fake medicines in the market and also practice
of quacks so as to nab and punish the culprits.
(Iqbal
Ahmad Khan)
Director (PA/IF)
6-1-2003
|
|
|
