Financial Risk Manager: Economic and Business Review

Economic and Business Review - Last week
Monday, January 5, 2009

THE National Investment Trust (NIT) formally launches Rs20 billion NIT state Enterprise Fund (NIT-SEF).
State Bank of Pakistan issues new guidelines for home remittances-related agreements of exchange companies with foreign entities.
PAKISTAN announces five percent tariff reduction in the existing customs duty on import of around 4,803 items from Saarc member countries Srilanka, Bangladesh, Bhutan, Nepal and Maldives under the Trade Liberalisation Programme agreed in South Asia Free Trade Area (Safta) agreement.
PAKISTAN will have to face the worst load-shedding during the first two weeks of January amid dried up water resources due to canal closures for the purpose of desilting, say sources in Pepco.
THE procurement price of wheat in the domestic market is higher than the prevailing price in the international market, says Mr. Shahid, additional secretary, ministry of food and agriculture.
PAKISTAN is to receive $500 million tranche during this quarter (Jan-March), says Adviser to PM on Finance Shaukat Tareen.
PAKISTAN and Iran fail to reach accord on gas price on the Iran-Pakistan-India (IPI) gas line project during talks held in Tehran.
Quetta Electric Supply Company (Quesco) announces 50 percent cut in power supply to 13 towns and cities of Balochistan from January 1.
THE government approves an average increase of 7.5 percent in gas prices, but rejects the oil and gas Regulatory Authority’s proposal to cut petrol price.
State Bank Provides 90 days waiver for availing financing under export finance scheme (EPS) to all exporters whose export proceeds are overdue till date of issuance of the new circular.
THE government allows export of live animals against foreign currency after a squabble between the commerce ministry and the newly created ministry of live stock and dairy development, it is learnt.
IRAN is to build a dedicated 1000 MW capacity gas based power plant on its border to export electricity to Pakistan, says Minister for Water and Power Raja Pervez Ashraf.
THE Economic Coordination Committee (ECC) of the cabinet, meeting under the chairmanship of adviser to prime minister on finance Shaukat Tareen, takes serious notice of no reduction in commodity prices despite drastic cut in oil and palm oil prices in the international market.
State Bank launches the Banking Sector Strategy (BSS) formulated for the next decade mainly carrying intensive banking reforms.
Source: Dawn - Economic and Business Review dated January 05, 2009

Labels: Economic and Business