Economic and Business Updates - From 8th to 14th November, 2010
Saturday, November 20, 2010
- THE CPI inflation rises by 14.17 per cent in JulyOctober 2010, over the same period last year, owing to increase in essential commodities’ prices.
- THE Cabinet approves the Reformed GST Bill and taxation measures of Rs42 billion to generate additional revenue for the out-going fiscal year.
- THE EU governments approve a raft of trade concessions for Pakistan to help the country rebound from the July floods which caused around $10 billion damages.
- THE Trading Corporation of Pakistan is barred from sugar import business and restricted from selling the imported sugar through tenders.
- THE Federal Board of Revenue will impose 15 per cent standard sales tax on sugar, pharmaceutical products, agricultural machinery and equipment.
- WITH the formal approval from the cabinet and possible tabling of the Reformed GST Bill in NA for its passage, the government qualifies for the fifth IMF tranche by December 1.
- THE total public debt surges to 63.4 per cent of the GDP by end of June 2010 and is expected to shoot up to 63.7 per cent of the GDP by June 2011.
- FOOD prices in Pakistan are now about 10 per cent higher than in August, says FAO report.
- SPECULATORS hoarders make profits of around Rs270 million in just one day on November 5, when the whole sale sugar price soars to Rs106 per kg.
- THE sugar crisis is going to escalate further in days to come as most sugar mills in Sindh have failed to start crushing for want of cane.
- THE profit of Pakistan’s textile sector grows by 295 per cent in the first quarter of the current fiscal year to Rs7.2 billion over the same quarter last year.
- THE government decides to set up an energy sector development fund with a credit line of one billion dollar and a government line of the same amount.
- THE Planning and Development Division allocates sufficient fund in the PSDP 2010-11 for construction of five dams in Balochistan.
- THE tight monetary policy remains ineffective in the first four months of fiscal 2011 as monetary growth goes up by 100 per cent compared to last year while the inflation rate continues to rise.
- THE Securities and Exchange Commission of Pakistan registers 21 companies including three foreign firms in October this year.
- PAKISTAN allows import of vegetables from India to meet shortage after flash floods damaged vegetables on thousands of acres.
- PRICES of essential kitchen items soar by 10-30 per cent within last one week in the twin cities of Islamabad and Rawalpindi.
Labels: Economy and Business, Pakistan Economy
posted @ 9:02 PM,
1 Comments:
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