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COVER STORY

THE SHIPPING INDUSTRY

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.

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