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Pak Economy

Important information about Pakistan economy

Plan to establish Islamabad Industrial Park

By Noor Aftab (The News)

Ministry of Finance is giving a serious thought to a proposal for establishment of Islamabad Industrial Park near Motorway, M-2, on a land measuring 5,000 kanals at a cost of Rs13.2 billion that would have 380 developed plots of one acre each for industry and 25 acres of developed plots for commercial operations, the sources said here on Saturday.Read More »Plan to establish Islamabad Industrial Park

Pakistan needs seven percent growth rate for survival

Pakistan’s economic condition is on the verge of collapse and in order to survive, it needs a growth rate of seven percent over the next few years as against the present three to four percent, reads a paper prepared by the Federation of Pakistan Chambers of Commerce and Industry (FPCCI).

FPCCI has presented this study to the government in response to the Vision 2025 prepared by the Planning Commission for the revival of the economy. The report has been prepared by the Research and Development wing of the premier trade body of the country and says that future challenges can only be safeguarded against if the country has a double digit growth rate.Read More »Pakistan needs seven percent growth rate for survival

MCB launches world’s first socially connected Mobile Wallet

LAHORE: The Muslim Commercial Bank (MCB) has launched the world’s first socially connected Mobile Wallet backed by the powerful technology giant -VISA on the eve of New Year terming it an innovative package for its clients.
The commercial launch ceremony of MCB Lite held at MCB House Lahore.  MCB President & CEO Imran Maqbool, Group Head (Retail) Ali Kazmi, Digital Banking & Business Development Head Qasif Shahid, a large number of other stakeholders and media was present on this occasion.Read More »MCB launches world’s first socially connected Mobile Wallet

Implications of falling value of Pak rupee vs. dollar

Common man is visible sufferer
By Abdul Waris 

Regular fluctuations in currency market (both currency appreciation and depreciation of currency) is a matter of routine. However one has to express his concerns regarding recent sharp decline of rupee. There are certainly some positive aspects of this depreciation but they do not seem to exist visibly. However whole economy has been griped due to its dire consequences and the common man is the visible sufferer. Why has rupee gone down so sharply against dollar? it is a separate debate, which can be discussed on some other occasion. Read More »Implications of falling value of Pak rupee vs. dollar

Pakistan slides further down the list

THE NEWS report by Mehtab Haider

 Pakistan overall ranking in the World Bank’s Doing Business Report 2014 further slid towards bottom as the country failed to undertake any business regulatory reforms.

The report disclosed that the country’s ranking in terms of paying taxes stood at 166 with 47 payments per year and 577 hours per year required to pay taxes. Total tax rate of 34.7 percent is paid out of total profit earned by taxpayers.Read More »Pakistan slides further down the list

Multiple impacts of a falling rupee

By Mohiuddin Aazim

 The falling value of the rupee will have many fiscal and monetary implications, including an increase in the rupee-cost of external debt servicing and a rise in liquidity levels.

And depreciation of the rupee is partially explained by the recent central bank’s buying of $125 million from the interbank market.

It is not unusual for the State Bank of Pakistan (SBP) to buy dollars from banks, either on spot or through swaps. “But this time, the buying is covered under the scope of the IMF’s new lending programme,” says the treasurer of a large local bank. ‘That’s unusual.”Read More »Multiple impacts of a falling rupee

Punjab Govt to develop Rs 3 billion industrial city

The Punjab government plans to develop a new industrial city at a cost of Rs 3 billion along motorway during current fiscal year 2013-14. However, a site is yet to be identified,

Official sources told APP on Friday that the government was attaching high priority to strengthening the industrial base and installation of new industrial units was imperative.

Though it is an uphill task as the government can not alone set up industries in good numbers, therefore, it has decided to establish an industrial city under public-private partnership. It also intends to offer lucrative incentives to private entrepreneurs. Read More »Punjab Govt to develop Rs 3 billion industrial city

Role of IT industry in Pakistan’s economy

By Salim Ghauri 

Pakistan is in a very exciting and decisive stage. Decisions taken now will have a far-reaching impact on our future. Politically things can’t be any better to steer our economy in a new direction. The need of the moment is to invest in gradually moving Pakistan away from an industrial base to a service based economy. IT Industry is a service industry that can provide a significant boost to our economic growth in next ten years.
Read More »Role of IT industry in Pakistan’s economy

Are Pakistani leaders willing to sacrifice?

By Brigadier (r) Farooq Hameed Khan

If common Pakistanis have to bear the burden of additional taxes in 2013-14 federal budget, then is the leadership willing to sacrifice its luxurious lifestyles? If the state treasury is empty, then are Prime Minister Nawaz Sharif, his cabinet and parliamentarians willing to become role models in austerity and simple living? Can poor Pakistani taxpayers afford their rulers’ extravagance?Read More »Are Pakistani leaders willing to sacrifice?