INSURANCE BUSINESS IN PAKISTAN

 Apr 04 - Apr 10, 2005 
ISSUE # 14 

Every valuable item must be protected from all types of threats should be the motto of any sensible person. Generally such threats are hedged by taking protective measures. Still there are certain factors which are beyond human control and the eminent loss has to be minimized by taking additional measures. One such measure is acquiring insurance cover against the unforeseen factors, be it loss of property caused by any happening including natural calamity or death of a human being, which is unavoidable.

 

 

INTEREST RATES
The banking sector's strong fundamentals were evident from higher credit off-take and widening interest margins. Though State Bank has raised interest rates steadily during the first 8 months of the current financial year, the monetary policy remained accommodative. The weighted average lending rates remained negative in real terms and private sector credit rose by a record Rs322.5 billion during the period.

WIND ENERGY
Shakeel Neimat, President of Norddicom International, originally a Pakistani firm based in Denmark for the last 30 years, in collaboration with Provital Consortium, has offered to set up sustainable wind hybrid power and sea water desalination plants alongwith a one billion dollar loan on soft terms to Pakistan.

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