Years of neglect have taken a heavy toll on
shipping sector in Pakistan which today comprises a single operator, the state-owned PNSC,
with a fleet of dilapidated vessels. In addition, the very survival of the shipping sector
is threatened by the implementation of stricter international maritime security codes,
scheduled for next year. Failure to meet the challenge could result in the total collapse
of the local shipping industry.
KSE
The current surges in KSE-100 index is a
reflection of various factors. However, insiders' trading and rumours will continue to
influence the index. Presence of strong institutional and retail investors have, however,
helped in countering selling pressure.
HUBCO
While every one seems to be talking about
tariff negotiations, no attention is being paid to 'parked receivables' of HUBCO. Any
decision applicable with retrospective effect will have adverse impact on both WAPDA and
HUBCO.
DATES
Against the production of 60,905 tonnes of fine
quality of dates, Pakistan is earning $27 million through exports per annum.
The Export Promotion Bureau
is however of the view that date exports can be increased from $27 million to $250 million
with a little extra efforts.
TAX IMMUNITY
Pakistan has rejected IMF's proposal for
abolishing tax immunity allowed on FCAs and FEBCs.
In the backdrop of declining cash inflow from external resources, the immunity
seems good for forex stability and documentation of the economy, yet there should be a
time limit for any scheme. The bearer nature of the FEBCs is denying government's efforts
for documentation of the economy.
