News from Pakistan (23-11-2002)

• The Chinese Buying Mission, which is currently on a visit to Pakistan, has signed one contract and import agreement having total value of $ 2.65 million with its Pakistani counterparts.
  
  
• The State Bank of Pakistan has said that it will consider grant of suitable relaxation under the Export Finance Scheme.
  
  
• The Asian Development Bank has approved a comprehensive environment policy aimed at addressing the issues relating to environmental degradation faced by the Asian countries.
  
  
• To encourage imports in all major industrial sectors, the government has waived off the condition of payment through banking channels within 120 days for the importers as per laid down procedure in Section 73 of the Sales Tax Act, 1990.
  
  
• The Asian Development Bank approved a technical assistance grant of $150,000 to strengthen Pakistan's debt management capacity of the Economic Affairs Division.
  
  
• Export of 100,000 tonnes sugar is in doldrums as the Ministry of Industries and Production has withdrawn the summary as the issue took serious turn after strong protest from the millers against the CBR for changing rates of Export Development Fund.
  
  
• The CBR would hold computer balloting on November 27, 2002 for selection of income tax returns to conduct total audit under Self Assessment Scheme.
  
  
• National Bank of Pakistan will launch a soft-term loan scheme for salaried persons, especially for government employees from November 25.
  
  
• Pakistan Railway has almost finalized the negotiations for setting up of an edible oil and molasses terminal at Port Qasim in cooperation with the private sector.
  
  
• A large number of IT aficionados are turning up at the IT libraries set up in software technology parks by the Pakistan Software Export Board.