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.
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
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.
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 žIndonesia Trade Expo 2000Ó in Karachi next week. A high-powered
trade delegation will also arrive from Indonesia to participate in the Trade Expo 2000.