Economic and Business Updates - February 09 to 15, 2009
Monday, February 16, 2009
Inflation has swelled as Sensitive Price Indicators surged by 23.66 percent on February 12 over the same week of last year, says the Federal Bureau of Statistics.- The country’s trade deficit jumps to $10.727 billion in last seven months (July-January) of 2008-2009, with 3.5 percent increase against $10.357 billion of the corresponding period of last year.
- The Ministry of Industries and Production is preparing a summary proposing reduction in banks interest rates so that the industrial sector may revive.
- Remittances by over seas Pakistanis continue a rising trend as an amount of $4.27731 billion is received in the first seven months (July-January) of the fiscal year 2008-09, an increase of 18.05 percent over the same period of last year.
- The State Bank of Pakistan amends the regulation and fixes the personal loan and credit card limit at Rs1,000,000 for a single person and asks banks to obtain consumer credit report from CIB before allowing any consumer facility.
- The National Tafiff Commission imposes preliminary anti-dumping duty on polyester staple fibre imported from China at the rate of 10.44 percent on cost and freight value, and also reports it to the WTO, say sources in the Ministry of Commerce.
- Pakistan's poverty rate jumps from 23.9 percent to 37.55 percent in the course of three years after severe economic shocks hit Pakistan, says Planning Commission official.
- Pakistan State Oil pays Rs5 billion to oil refineries to enable them to place orders for fresh import of crude oil.
- The Japanese survey team concludes its feasibility report of the $872.316 million project for revival of the Karachi Circular Railway, paving the way for grant of loan by Japan in May2009.
- Pakistan State Oil says its oil purchases will not be disrupted by the central bank’s move to stop using foreign reserves to pay for oil imports, as it will seek funding from private and local banks.
Ref: Dawn, Business and Economic Review dated 16-02-2009
Labels: Economy and Business, Pakistan Economy
posted @ 12:08 PM,
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