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News from Pakistan (3-12-2002)

  • Asian Development Bank has approved $ 50 million to the government of Pakistan for Punjab Community Water Supply and Sanitation Project.

  • A trade and investment delegation from Saudi Arabia would be arranged to visit Pakistan for identifying Pakistani export market and set up processing units at Export Processing Zones.

  • Pakistan's first geo-stationary satellite will be in place on the 23rd of this month.

  • The tough security measures, governing the shipments to the US, made under the US Container Security Initiative, effective from Monday (December 2) will affect the shipping lines and Pakistan's exports to the US.

  • The dollar on Monday breached an important mark of Rs 58 in the kerb market, showing 15 paisa fall for buying and selling at Rs 57.90 and Rs 58.00, respectively.

  • Pakistan and Norway have signed $ 32.67 million rescheduling agreement spanning over a repayment period of 23 years including a grace period of 5 years at the interest rate of six months.

  • Pakistan oil marketing companies have cut the prices of fuel oil by 3.4 percent, in line with the declining crude oil prices world-wide.

  • The European Union withheld 4,000 tonnes of flexibility quota for Pakistan textile exports creating problem of acute unavailability of quota in different categories.

  • The Securities and Exchange Commission of Pakistan has started supervising all non-banking financial institutions, except development financial institutions, from December 2, 2002.

  • USAID announced a four-year $ 60 million award to the Research Triangle Institute for implementation of its Education Sector Reform Assistance project for Pakistan.

  • The present government is taking keen interest in the development of Northern Areas and has launched various development projects in the area to bring it at par with other developed areas of the country.
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