COVER STORY FOREIGN BANKS IN PAKISTAN

The paradigm shift in commercial banking, has affected the foreign banks operating in Pakistan significantly and to a large extent adversely. The recovery process, through changed strategy, has started yielding positive results. Foreign banks are expected to emerge stronger in the near future as Pakistan moves towards internet based banking. Still, the competition with domestic banks is expected to remain ferocious.

 

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PTCL
Pakistan Telecommunication Corporation Limited (PTCL) has increased monthly line rent and local call charges. The local call charges from Rs 2.10 to Rs 2.31 per five minutes an increase of 10 per cent and in line rent from Rs 204 to Rs 282 almost 38 per cent. PTA has already allowed PTCL to increase the call charges and line rent.

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TOBACCO INDUSTRY
Tobacco plays a vital role in the economy of Pakistan. Highly placed sources in the tobacco industry blame high taxation for massive smuggling which is depriving the government billions in revenue. They also say that manufacturers should be allowed to increase the cigarette prices which are on the low side in the country. PAGE discusses the issue which involves more than the financial health.

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INDONESIA
Indonesia has decided to establish a warehouse at Karachi to promote Indonesian products in Pakistan as well as their exports in the countries of the region including Central Asian States. In order to speed up the export targets, it is also organizing an ìIndonesia Trade Expo 2000î in Karachi next week. A high-powered trade delegation will also arrive from Indonesia to participate in the Trade Expo 2000.

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