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Pakistan Center for Philanthropy

Government of Pakistan Board of Investment
(Public Affairs Wing)

News from Pakistan (14-12-2002)

  • Secretary of Privatisation Commission said that by next week the government will announce a pre-bid meeting date with the pre-qualified bidders of Pakistan State Oil.

  • The Privatisation Commission has pushed back some major transactions, including Pakistan State Oil, by some months but said it was committed to the programme. Now it said the stake in PSO would be sold in the first quarter of 2003.

  • The export development surcharge which is charged by the Customs at the rate of 0.25 percent on every export consignment before shipment will be charged by banks on realization of export proceeds from January 1, 2003.

  • Revenue and Telecom Divisions have not initiated disciplinary cases against corrupt and inefficient officials under Special Power (Removal from Service) Ordinance 2000, showing that there is no corruption and inefficiency in their organizations.

  • Adviser to the Prime Minister on Finance said that the 12 paisa per unit reduction in power tariff will cast no burden on WAPDA.

  • The Federal Government has converted the Agricultural Development Bank of Pakistan into Zarai Taraqiati Bank Ltd; and the new venture has started its operation with immediate effect.

  • The Central Board of Revenue has directed the chartered accountant firms to strictly follow the procedure laid down by Securities and Exchange Commission of Pakistan for resolving disputes relating to payment of audit fee to special auditors.

  • US Secretary of State telephoned Foreign Minister and expressed firm commitment to a structured, long-term relationship with growing co-operation in diverse fields, and agreed to remain in regular touch.

  • The Karachi stock market, for the third consecutive day on Friday, closed on a positive note, slowly and steadily heading towards the new high benchmark level as volume soared which indicated that the buying concentrated on large cap companies.

  • The World Bank mission has given assurance that it would support Sui Southern Gas Company in its expansion and investment programme, further improving efficiency of the company.

  • Pakistanis living in United Kingdom should stick to positive values, social cohesion and emotional investment in inter-personal relationships, but not at the cost of individual freedom of expression and self respect.

(Amir Sultan)
Dy. Director (PA)



Export Promotion Bureau Pakistan
Federation of Pakistan Chambers of Commerce & Industry
Edhi Foundation

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