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COVER STORY
NEW CHALLENGES

The software-driven IT industry of Pakistan is slowly coming out of the shadows of that fateful September day last year. The challenges thrown can be termed as a blessing in disguise to give the much needed time to the industry to take a long hard look inwards, assess its visible weaknesses and inherent strengths and to keep moving forward in search of better tomorrow.


REVENUE COLLECTION
The Central Board of Revenue (CBR) has finally crossed the psychological revenue collection barrier of Rs400 billion. The year's total revenue collection of Rs401 billion is Rs8 billion higher than the collection of Rs393 billion during previous fiscal year.
Tax experts, while analyzing the situation, said that the most surprising feature of the economic numbers was the resilience displayed by the manufacturing sector under volatile conditions. Large scale manufacturing during the first nine months of the year grew by 3.2 per cent while the government of Pakistan estimates that it will grow by 4.4 per cent for the full fiscal year.


HOUSING FINANCE
The Rs 15 billion per annum market mostly remains untapped due to limited availability of funds and inadequate foreclosure law. As the GoP aims at privatizing state-owned enterprises, HBFC has to be sold out to private sector one day. It is the time to encourage private sector to establish housing finance companies.


 

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