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News from Pakistan (11-12-2002)

  • The guidelines the Minister for Industries and Production, Liaqat Ali Khan Jatoi, has issued to the Board of Investment for attracting fresh foreign investment sound quite appropriate under the developing economic situation both at home and abroad.

  • Giving relief to the manufacturer-cum-exporters of towels, the government has enhanced duty drawback rates on the export of different types of towels from December 9, 2002.

  • The Sarhad Chamber of Commerce and Industry and Kabul Chamber of Commerce and Industry formed a joint forum for promotion of trade ties between Pakistan and Afghanistan.

  • The Asian Development Bank has approved a technical assistance grant of $ 0.68 million to Pakistan for enhancing the capacity for resource management and poverty reduction in Punjab.

  • The Board of Administrators of Export Development Fund has decided to withdraw and cancel the pending liabilities of the projects of the Research and Training Centres for Weaving, Faisalabad, and Gujranwala, amounting to Rs.19 million each.

  • The United Nations Population Fund would provide a grant of US $ 35 million to Pakistan for population development and welfare.

  • The Asian Development Bank has awarded the first 'ADB Water Prize' to the Housing, Urban Development, and Public Health Engineering Department of Punjab, Pakistan.

  • The Federal Cabinet slashed power rates by 12 paisa per unit, both for commercial and domestic consumers, and promised to curtail the prices of some other essential items shortly.

  • 12-paisa reduction in power tariff by the Jamali Government will not leave any significant impact on the financial health of Water and power Development Authority, rather the decision will contribute towards improving country's exports, and providing much needed relief to the industrial and domestic consumers.

  • The Water & Power Development Authority plans to float Rs 7 billion bonds next month, having a tenor of five years.
 

(Amir Sultan)
Dy. Director (PA)
11-12-2002 

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