HOUSING FINANCE AND THE CONSTRUCTION INDUSTRY

Aug 30 - Sep 05, 2004  
ISSUE # 35  

The policy of the government massively supported by the financial sector had the potential to click and produce the desired results, yet the usual lack of coordination among the relevant departments and ineffective follow up which is the conventional characteristic of the society creating obstacles restraining it to take a kick start. It is interesting to note that the banking sector which has opened its doors for the housing sector pumped in over two hundred billion rupees in the housing financing in 2003-04 which is a record itself, but by and large the activity in this sector has been confined to the up country.  

According to the zonal chief of a leading private bank the prices in the real estate sector have jumped four times as compared to real estate prices in Karachi.

 

 

TRADE
Conceding that the process of trade globalization cannot be stopped, the speakers at the international seminar held in Islamabad last week urged that the developing countries in South Asian Region should evolve a joint strategy to meet the challenges under WTO regime. They were of the view that WTO agreement needed to be negotiated in the interest of South Asian countries and the developing countries must have their own agenda item for negotiation.

 

 

SALE OF BOK SHARES
Reportedly the Managing Director of Bank of Khyber has said that 49% shares of the bank would be offered to general public. Many mistook it as divestment but the fact is that the bank has to raise its capital, which will be done through initial public offer. Though, the offer price has not been fixed as yet, it seems rather difficult that shares could be sold at a premium.

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