Economics
Supporting Economy
Image by Getty Images via Daylife
Energy and economic problems of Pakistan, and not extremism, top the list of Richard Holbrooke’s concerns when it comes to this country. Scarcely believable? Not quite.
The US’s first priority when it comes to Pakistan remains the war against militancy. What Mr Holbrooke seemed to be attempting, though, was to recast [...]
Pakistan eyes five billion dollars in foreign investment
Pakistan aims to attract foreign investment worth five billion dollars this year, but needs to tackle reform, maximise anaemic growth and stem rampant violence to clinch its ambitious target.
Last fiscal year, Pakistan recorded its worst economic growth in more than a decade, at two per cent, and attracted only 3.7 billion dollars in investment.
Yet Board [...]
Work on Iran power project to begin soon
Tahir Basharat Cheema, the managing director of Pakistan Electric Power Company, has said that three power plants will be installed in the country to ensure smooth and cheap electricity.
He said that Pepco had held talks with the Iranian government for purchasing 1,000 MW of electricity and feasibility reports prepared by both countries had been submitted [...]
Tarin is Leaving
Hamara to wazir-e-khazana ja raha hay (Our finance minister is leaving), Prime Minister Gilani was caught telling former finance minister Ishaq Dar, moments before the start of Monday’s press conference after his meeting with PML-N leaders.
Perhaps not realising that at least one among the array of microphones on the table in front of him was [...]
Major housing initiative under way
The federal government has decided to take 20 per cent stake in the proposed Mortgage Refinance Company (MRC), a joint initiative of the State Bank and the International Finance Corporation of the World Bank.
This was stated by the State Bank Governor Salim Raza on Saturday in a seminar on housing sector organised by the Association [...]
Relief for Balochistan
Image via Wikipedia
The federal government has agreed to give equity shares along with board membership of giant state corporations to Balochistan against over Rs130 billion gas development surcharge and royalty arrears but disagreements remain over the priority order and mode of divestment of federal shareholding in such entities.
President Asif Ali Zardari was expected to visit [...]
Thar Coal needs more time
Image via Wikipedia
Prominent scientist Dr Samar Mubarakmand, who is a member of Planning Commission, has said that Pakistan has world’s second largest coal deposits, which will take three to four years to be put to use.
He was speaking at a seminar on “Coal bed methane (CBM) prospects of Sindh, a venture of opportunities for growth” [...]
Agricultural going to be Taxed
Image via Wikipedia
The government would bring new services into the tax net in next year’s budget and generate meaningful revenue contribution from property, agricultural sector and stock markets.
During a meeting with a task force on private sector development, the minister said the government would convert capital value tax on property into capital gains tax and [...]
New wave of price spiral on its way
As the falling rupee has already made imports costlier, consumers are set to pay Rs0.50 to Rs2 per kg more as the direct outcome of over nine per cent increase in petroleum prices for this month.
The rupee stood at Rs80 to a dollar in January 2009 which slipped to Rs84.50 in January 2010 and on [...]
Loans WriteOffs
Image via Wikipedia
The State Bank informed the Supreme Court on Tuesday that commercial banks had written off loans of up to Rs256 billion of more than 669,000 people over a period of about 40 years.
After taking suo motu notice of press reports that the central bank had quietly allowed commercial banks to write off loans [...]
