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Pakistan Center for Philanthropy

Association of Pakistani Professionals
Board of Investment Covt. of Pakistan
Export Processing Zone Authority

Government of Pakistan Board of Investment
(Public Affairs Wing)

News from Pakistan (16-11-2002)

  • The government and the World Bank have started preparation for negotiations on three new $ 550 million Structural Adjustment Credit projects.

  • The dollar on Friday averted sharp decline versus Pak Rupee in the inter-bank market and only lost three paisa for buying and selling at Rs.58.50 and Rs.58.52, respectively.

  • The State Bank allowed banks and Development Financial Institutions to participate in assets securitization through Special Purpose Vehicle.

  • Cautious approach adopted by genuine investors forced the share values to move in a narrow band on Friday where volume was nearly half, to 115 million shares.

  • The government cut down petroleum products prices by 1.5 percent to 8.6 percent to pass on benefit of their lowering down prices in the international market to the consumers.

  • The government has allowed refund of General Sales Tax on electricity and gas consumed by the manufacturers-cum-exporters under the new Duty and Tax. Remission for Exports rules issued on Friday.

  • The prospective bidders of Pakistan State Oil Ltd have requested the government to hold a pre-bid meeting next month to discuss the bidding process and to finalise the date.

  • The government has issued Companies (Second Amendment) Ordinance which asks every non-banking finance companies to get licence from the Securities and Exchange Commission of Pakistan.

  • Pakistani textile manufacturers can utilize Jordanian industrial zone for duty free and quota free export of garments to United States.

  • The federal government asked the provincial governments to assess an investment offer put forth by an American organization showing interest in establishing a chain of hospitals on turn key basis in various parts of the country.
(Iqbal Ahmad Khan)
Director (PA/IF)
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DG, BOI, Karachi.
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