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News from Pakistan (12-12-2002)

  • Pakistan is one of the few countries which is blessed with billions of investment locked up in the existing stock of residential as well as commercial properties that can be recycled and boost the economic activities, said Governor, State Bank of Pakistan.

  • The housing sector, with enormous potential for growth, creating jobs and generating economic activities in 40 allied industries, has also produced huge opportunities for banking and financial institutions for long term investment and sustainable growth, said Adviser to the Prime Minister on Finance and Economic Affairs,

  • Prime Minister waived the 12 month electricity dues of less than Rs.10,000/- for those poor people of the city who receive Zakat from the government treasury.

  • Adviser to Prime Minister for Finance and Economic Affairs said that the government is working to simplify procedure for providing loans for small and medium enterprises, agriculture and rural finance.

  • The State Bank of Pakistan further reduced the cut-off yield on 6 month Treasury Bills. The SBP raised an amount of Rs.13.25 billion against a target of Rs.10 billion. The cut-off yield on 6 month Treasury Bills was 4.448 percent per annum.

  • The inaugural meeting of the Joint Trade Working Group of Pakistan and the United States began its deliberations here on Tuesday.

  • Foreign Minister said that the new administration's foreign policy will continue to focus attention on strengthening national economy and handling opportunities and challenges of the World Trade Organization System.

  • Bringing lamb/sheep leather into the duty drawback regime, the government has allowed the facility on the export of both kinds of leather from December 9.

  • Liquefied Petroleum Gas companies have asked the Federal Government to enact special laws to check the illegal practice of decanting of gas cylinders, which is posing a serious threat to life and property.

  • Adviser to the Prime Minister on Privatization and Investment said that USAID has assured to give $ 8 million for study tours and scholarships to promote small and medium enterprises in Sindh and Balochistan.
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