FOREIGN EXCHANGE BUSINESS IN PAKISTAN

Apr 12 - Apr 18, 2004  
ISSUE # 15  

Under the SBP rules, all money changers will cease to run their business by June 30, 2004 and will have to transform themselves into exchange companies. SBP had already given two years time to all money changers to apply for getting a license of an exchange company and to fulfill all other legalities necessary for this transformation.

 

 

POWER POLICY
Despite being expensive from consumer's point of view, the power sector continues to be the most attractive area for the investors in Pakistan which reflected in 33 applications for generating about 6000MW gas-based projects at a cost of $5 billion in Pakistan. It is the Power Policy 2002 which received the overwhelming response from the investors mostly by the international players in power generation mainly because of attractive incentives, exemption from taxes with guaranteed purchase and sustainable fuel supply agreements.

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AKD TRADE
On 1st November 2002, the first online shares trading facility of Pakistan, akdtrade, was inaugurated. The first landmark was the establishment of the facility. In a short span of 16 months, the second landmark has been achieved. The total worth of shares traded online crossed the Rs 100 billion mark in March 2004. The biggest achievement is that akdtrade has radically changed the way investors, particularly the smaller ones, think about stock trading.