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News from Pakistan (30-12-2002)

  • Iran has sought Pakistan's help to acquire the membership of World Trade Organization to fully avail the benefit of rapid changes in the global trade.

  • The Karachi Stock Exchange during 2002 registered a significant growth of 109 percent and outperformed all stock markets of the world as investment from overseas Pakistanis filtered in and low interest rates increased participation from the banks, individuals and financial institutions.

  • The Water and Power Development authority has revised its rate of return on Rs 7 billion bonds, to be issued next month, by 75 basis points to 7.25 percent.

  • As part of the ongoing efforts of the Federal Government to enhance production of quality milk and dairy products within the country and enhance their exports, the Punjab and Sindh Governments have launched comprehensive plans.

  • Sialkot Chamber of Commerce and Industry with the collaboration of Export Promotion Bureau of Pakistan will arrange single country trade fair during the forthcoming Cricket World Cup in South Africa.

  • Pakistan's economic situation has improved after the incident of September 11, said Chairman of National Bank.

  • The Pakistan Readymade Garments manufacturers and Exporters Association has urged Commerce Minister to plead for reduced tariffs instead of demanding more quotas during his forthcoming talks with the US authorities as the quotas would gradually phase out by January 2005.

  • The Oil Companies Advisory Committee might increase the petroleum product prices by as much as five percent as the world oil prices have reached almost two-year high.

  • The country's foreign currency reserves in the calendar year 2002 recorded an unprecedented improvement of 86 percent.

  • The rupee during the week ending on December 28, 2002, being virtually the last week of 2002, closed on a stable note versus the dollar.

(Iqbal Ahmad Khan)
Director (PA/IF)
30-12-2002

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