Economic Review articles from November 1 2007

Economic Review archives from November 1 2007

Tobacco exports up 569.15 pc.(News Flash)(Brief article)
November 1, 2007... The country's tobacco exports have increased to $2.516 million during the first two months of fiscal year 2007-08 against $0.376 million of the last corresponding period, marking an increase of $2.14 million or 569.15 percent. According to...

India virtually out IPI gas line rendered 2-nationproject.(News Flash)(Brief article)
November 1, 2007... Iran-Pakistan-India (IPI) gas pipeline has literally turned into Iran-Pakistan (IP) gas pipeline as Tehran and Islamabad entered into bilateral technical discussions without waiting any more for India to make the project a reality. (B.R....

Shamshad 'Best Central Bank Governor for Asia'.(News Flash)(Shamshad Akhtar of State Bank of Pakistan )(Brief article)
November 1, 2007... State Bank of Pakistan Governor Dr. Shamshad Akhtar has been conferred the prestitious award of 'Best Central Bank Governor for Asia 2007' in recognition of the exceptional contribution she has make to overall financial sector and monetary...

Ecnec approves 23 projects worth Rs.116.5 bn.(News Flash)(Executive Committee of the National Economic Council )(Brief article)
November 1, 2007... The Executive Committee of the National Economic Council (Ecnec) on Monday approved 23 projects worth Rs.116.5 billion. The Ecnec meeting was held under the chairmanshiop of Prime Minister Shaukat Aziz. (B.R.... 23 Oct, 2007)

KSE shows 38 percent growth in FY07: report.(News Flash)(Brief article)
November 1, 2007... The Karachi Stock Exchange (KSE), one of the most active markets in the region, recorded a full year appreciation of around 38 percent during the year ended June 30, 2007, with the benchmark KSE-100 index closing at an all-time high at 13,772...

Govt. fixes 24m tons wheat production target for Rabi.(News Flash)(Brief article)
November 1, 2007... Preoccupied with the ongoing price controversy, the government on Tuesday fixed an 'ambitious' wheat production target of 24 million tons for the Rabi season 2007-08. The authorities have also fixed support price at Rs.4465 per 40 kilogram to...

Current account deficit down by 22 pc.(News Flash)(Brief article)
November 1, 2007... Country's current account deficit has dipped by some 22 percent during first quarter of fiscal year 2008, mainly due to the heavy home remittances by the Pakistanis abroad and decline in the trade deficit. (B.R.... 26 Oct, 2007)

Shamshad turns down proposals.(News Flash)(Brief article)
November 1, 2007... State Bank of Pakistan Governor Dr. Shamshad Akhtar has turned down the much-taled about proposals for devaluation of rupee, saying it was unjustifiable, official sources told. (B.R.... 27 Oct, 2007)

PPIB, EEL sign accord for 226.5 MW power project.(News Flash)(Engro Energy Limited )(Brief article)
November 1, 2007... The implementation Agreement (IA) for 226.5 MW power project by Engro Energy Limited (EEL) was signed on Monday at Private Power and Infrastructure Board (PPIB) (B.R.... 30 Oct, 2007)

Increase in petrol, diesel prices expected.(News Flash)(Brief article)
November 1, 2007... The government is likely to pass on to the consumers Rs.2.50 on diesel and Rs.1.60 per litre raise on gasoline by revising petroleum prices for the next fortnight. (B.R.... 31 Oct, 2007)

Airbus makes first delivery of A380 superjumbo.(News Flash)(Brief article)
November 1, 2007... Airbus on Monday made the first delivery of its A380, the world's biggest pasenger jet, handing it over to Singapore Airlines 18 months behind schedule but with both sides hailing a major advance in air travel. (B.R.... 17 Oct, 2007)

India seeks meeting with Pakistan.(News Flash)(Brief article)
November 1, 2007... India has sought to hold a bilateral meeting with Pakistan to resolve the lingering differences between the two countries over transit fees that Delhi needs to pay to Islamabad for gas through a pipeline from Iran to India via Pakistan, a...

Insurance scheme for foreign business travellers approved.(News Flash)(Brief article)
November 1, 2007... Prime Minister Shaukat Aziz said that launching of crop insurance scheme by the National Insurance Company Limited (NICL) in collaboration with the various financial institutions would be a major breakthrough in protecting the interests of the...

PSMA foresees another sugar crisis.(News Flash)(Pakistan Sugar Mills Association )(Brief article)
November 1, 2007... A spokesman for Pakistan Sugar Mills Association (PSMA) has expressed its apprehensions about the possible emergence of another sugar crisis in the country. He said, "We understand there are grave crisis in India due to surplus production...

July-Sept trade deficit at $3.6 bn.(News Flash)(Brief article)
November 1, 2007... The trade deficit has amounted to $3.6 billion during the first quarter (July-September) of the current fiscal year, 13.53 percent higher than $3.17 billion of last fiscal year. (B.R.... 10 Oct, 2007)

Inflation up 10.73 pc year on year.(News Flash)(Brief article)
November 1, 2007... The SPI-based inflation was 10.73 percent up on wek ending October 4 as compared to the same peroid of last year, with 12.61 percent dearness for the low income group. (B.R.... 07 Oct, 2007)

Renewable energy development; $510m ADB loan agreement signed.(News Flash)(Brief article)
November 1, 2007... Pakistan and the Asian Development Bank (ADB) on Friday signed an agreement for a $510 million multi-tranche loan for the development of renewable energy sources. (B.R.... 06 Oct, 2007)

Four 920MW projects approved.(News Flash)(Brief article)
November 1, 2007... Private Power Infrastructure Board (PPIB) which met on Thursday with Minister for Water and Power Liaquat Ali Jatoi in the chair approved four power projects in the private sector. (B.R.... 05 Oct, 2007)

Gas supply shortage; 30 textile mills stop operations.(News Flash)(Brief article)
November 1, 2007... The continued disruption in gas supply has brought the operations of 30 textile mills to a complete suspension and badly affected 200 others in the largest industrial areas of the country, industrialists said. (B.R.... 04 Oct, 2007)

Industry to import 1m tons scrap ships in 2 months.(News Flash)
November 1, 2007... The ship breaking industry will import about one million tons-light displacement tonnage (LDT) - scrap vessels in October-November 2007, industry sources told. (B.R.... 03 Oct, 2007)

LTF-EOP scheme for plant, machinery import; SBP allows refinancing under old terms.(News Flash)(Brief article)
November 1, 2007... SBP allows refinancing under old terms State Bank of Pakistan Governor Dr. Shamshad Akhtar has announced that the approved banks/DFIs have been allowed to avail of refinancing facilities under the terms as applicable to now defunct long-term...

New trade route opens with India.(News Flash)(Brief article)
November 1, 2007... Trucks carrying tomatoes crossed the border between India and Pakistan on Monday, the first goods vehicles to do so in past 60 years. The neighbours agreed in August to allow each others' trucks over their only land border as part of a...

Furnace oil price shoots up to Rs.29606/ton.(News Flash)(Brief article)
November 1, 2007... Furnace oil price shoots up to Rs.29606/ton Furnace oil price has shot up by Rs.1,200 to Rs.29,606.75 per ton from Rs.28,406 in the domestic market due to soaring international prices, dealers said. Two leading oil marketing companies -...

$5.2bn power sector reforms; Wapda to submit roll-out plan to PM.(News Flash)(Brief article)
November 1, 2007... The Water and Power Development Authority (Wapda) is to submit roll-out plan to the Prime Minster Shaukat Aziz, envisaging specific timelines and targets to achieve te goals. (B.R.... 01 Oct, 2007)

Bank credit and the real economy.
November 1, 2007... Gone are the days when investors could set up industrial projects involving an investment more than ten times the money they had with them at that time. Amjad Rashid, Chairman of the Banking and Finance Credit Committee of the Federation...

Environment protection in seaports.
November 1, 2007... The debacles of oil tanker M.T. "GOLDEN GATE" which spilled 1800 M/Tons oil on August 2002 and thereafter massive oil spill of 30,000 M/Tons by oil tanker M.T. "TASMAN SPIRIT" in August 2003 at Karachi Port caused havoc to our beaches and...

The glorious history of shipping.(Industry overview)
November 1, 2007... Shipping plays a very vital and significant role in today's global economy. The transportation through sea routes is considered the most economical and cheapest mode of transport which gave rise to ship building and movement of trade by using...

2008: the International Year of Sanitation.
November 1, 2007... The United Nations on November 2007 officially launched the International Year of Sanitation to accelerate progress for 2.6 billion people-including 980 million children-worldwide who are without proper sanitation facilities. According to the...

An eye on manufacturing & services sector in Pakistan.(Industry overview)
November 1, 2007... The overall manufacturing sector continued on its strong positive trend during the current fiscal year. Overall manufacturing recorded an impressive and broad based growth of 8.45 percent, against last year's growth of 9.9 percent. Large-scale...

Sugarcane production & sugar crisis.(Industry overview)
November 1, 2007... Sugarcane is an important cash crop of Pakistan. It is an important source of income and employment for the farming community throughout the year. It forms the basis for many important industries like Gur, molasses, alcohol, sugar beverages,...

Cotton match: Pakistan vs. India.(Industry overview)
November 1, 2007... Pakistan was born in 1947 with a smaller base of textile industry consuming only 78,000 bales of 170-kgs each but producing a larger cotton crop of 1.1 million 170-kg bales and exporting almost more than 90 percent of its season's production....

Agriculture as seen in the 'vision 2030'.(Industry overview)
November 1, 2007... The Planning Commission, with the assistance of its seven Members and 66 experts drawn mostly from various institutes, have .authored "Vision 2030" which aims at 'developed, industrialized, just and prosperous Pakistan in a resource constrained...

The rising prices dilemma.
November 1, 2007... Pakistan's economy, under the policies of the former Prime Minister and former and present Governors of the State Bank of Pakistan (SBP), witnessed a historical era of high growth. The real GDP growth remained above or around 7 percent during...

Reflections on global economic and financial developments.
November 1, 2007... Financial globalization marked by growing cross border flows and strengthening of financial inter-linkages has been on the rise. This has been supported by wave of financial and capital account liberalization world-wide accompanied by...