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News
from Pakistan (14-11-2002)
The
Cabinet Committee on Privatisation outlined a calendar
for privatisation of various entities up to April next
year, which includes seven transactions.
President Pervez Musharraf convened inaugural session of the National
Assembly on November 16 (Saturday).
The International Monetary Fund snubbed the Water and Power Development
Authority for revising its financial targets set for the current fiscal
year.
For the facilitation of exporters, the substitution of the Contracts,
or LC, has been allowed up to a maximum period of six months from the
date of disbursement of the loan.
The Central Board of Revenue has given comprehensive presentation to
the International Monetary Fund and World Bank Mission on the custom
administration reform plan.
Exporters' dollar selling forced the dollar to surrender its short-lived
stability in the inter-bank market, losing 12 paisa for buying and selling
at Rs.58.61 and Rs.58.63, respectively.
Oil Companies Advisory Committee might reduce oil products prices by
as much as 4 percent after decline in world oil prices and strengthening
of rupee against the dollar.
The government announced that the current levy of Re. 0.34 per litre
on POL products would remain intact till December 31, 2004.
Pakistan's foreign exchange reserves have further improved by 95 million
dollars in a week and main increase was in the coffer of the State Bank.
The State Bank of Pakistan realized over Rs.21 billion through the auction
of Treasury Bills.
Pakistan Telecommunication Limited has launched Voice over Internet Protocol
services from Karachi.
Pakistan's balance of payments posted a surplus of $ 1.23 billion in
the first quarter ended September 30, 2002, as compared with the deficit
of $ 69 million of the same period a year ago.
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