Financial Risk Manager

Ways of Financial and Risk Management

Economic and Business Updates - January 12 to 18, 2009
Monday, January 19, 2009

THE State Bank has announced that all purchases of foreign exchange relating to the import of POL products will be made by bank s from the inter-bank market.

THE Regional Tax Office (RTO), Karachi, collects Rs53.787 billion during the first half (July-Dec) of 2008-09, showing a growth of 38 percent over the corresponding period last year when the collection stood at Rs38.968 billion.
THE Fauji Cement Company Limited is to build the largest cement plant in the country. The company has entered into contract with the German firm Polysius AG to supply state of the art plant to produce 7,200 tons of cement per day of clinker, says a press release of the FCCL.
THE Federal Board of Revenue reduces depreciation from two to one percent on import of old and used vehicles by overseas Pakistanis.
THE core inflation is above 18 percent which can be a bad sign for the economy as further increase in the policy discount rate is attached with the lowering of core inflation, says the State Bank of Pakistan notification.
INFLATION decelerates from a three decade high in December 2008 after the State Bank of Pakistan raises its benchmark interest rates coupled with slight easing in food prices, suggests data of the Statistics Division.
THERE is no chance of improvement in car sales in immediate future as the economy is already in recession and the future outlook remains gloomy.
A MASSIVE outflow of over $25 million of foreign portfolio investment from the country’s equity market is witnessed during the week ended January 10, 2009.
THE country’s trade deficit during the first six months of the current fiscal year surges to $9.599 billion, reports the Federal Board of Statistics.
ADVISOR to Prime Minister on Finance Shaukat Tarin says the Government is considering imposing ban on investment by DFIs and investment companies in the stock market.