Economic and Business Updates - March 23 to March 29, 2009
Monday, March 30, 2009
- TOP American business lob by calls for a cut in US tariffs on Pakistani textile and sas trade will be a valuable part of the new US strategy to fight war against terror in Pakistan to bring stability to the country.
- THE manufacturing sector shows a dismal picture of the economy registering a negative growth of 5.4 percent in the first seven months (July-January) of 2008-09.
- THE Economic and Social Commission for Asia and Pacific has projected that Pakistan’s growth rate will be just 2.5 percent in fiscal 2008-09, while other economists feared it could be still lower.
- THE per capital income in Pakistan may decline significantly this year increasing the level of poverty, says former vice-president of World Bank Shahid Burki.
- THE federal government has to retire over Rs100 billion of budgetary borrowing to the State Bank of Pakistan by ends of this month, to comply with one of the primary IMF conditions of limited borrowing.
- THE State Bank governor expresses apprehensions that the non-performing loans may increase owing to economic slow down.
- THE government changes sugar import specification to provide level playing fields to all importers who have extreme reservations after the former chairman of TCP amended the tender documents to back a Dubai-based refinery, it is reliably learnt.
- A Turkish company Zurlu Energi will invest around $500 million in wind mills project, an alternative source of energy, says Turkish Consul Gereral Fethi Etem.
- THE Trade Development Authority of Pakistan announces to launch 12 major projects at an estimated cost of Rs10-12 billion to help broaden the export base.
- CEMENT exports, which plunged during the second quarter of the present fiscal year, have started to pick up on improved demand from India and some Gulf states, say exporters.
- PAKISTAN seeks $10 billion from the friends of Pakistan group to finance development projects in violence-hit regions and to improve security and the social sector over the next three year.
- COMMITTEE formed by the ministry of finance to finalize draft resolution for a new rehabilitation regime rejects a proposal to first introduce a Resolution Trust Corporation, and finalizing the Corporate Rehabilitation Act at a later stage.
- ALL ministries may face a total cut of Rs108.9 million combined in pPublic Sector Development Programmed 2008-09 due to financial constraints, it is learnt through informed sources.
Ref: Dawan dated 30-03-2009
Labels: Economy and Business, Pakistan Economy
posted @ 12:46 PM,
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