FOR THE RECORD
 

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Compiled by Syed Mujtaba Zafar
June 20 - 26, 2005
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>> "Fiscal deficit is likely to increase to 4-4.555% of the GDP and inflation to range between 8-10 % in the next fiscal year."

(According to a report of Alfalah Securities on the state of country's economy)

>>'Inflation had effected development endeavor being undertaken in the country, but with open policy of import of food items and downward trend in oil markets in the world at current, higher inflation rate would come down in two years".

(Adviser to the Prime Minister on Finance, Dr. Salman Shah, said this in a post-budget seminar held under the auspices of PINA)

>>"The CPI and EPI numbers will certainly be closely watched, because if there is any hint of a negative surprise in them, it certainly raises the specter of the Fed not only raising rates in June but raising them again in August."

(Wendell Perkins, Chief Investment Officer of the Johnson family of funds said this on Sunday)

>>"Greenspan's comments suggested that the pace of rates hikes will remain unchanged at least untill July, which relieved market participants."

(MIZUHO investors securities currencies strategist Hiroshi Sakurai said this on Monday)

>>"Union properties shares sold 15% on Sunday on talk it had been granted state lands to develop, helping send the Dubai bourse above 1000 points for the first time."

(Traders claimed on Sunday)

>>"Following the private sector, which cross the year-end credit target of Rs. 350 billion many weeks ago, the government is also in a hurry to catch up with, or even cross, its year-end target in about a week's time."

(According to consolidated balance-sheet of the banking system as on May 21)

>>"Karachi Electric Supply Corporation (KESC) has set revenue collection target of Rs. 48 bn for 2005-06 against Rs. 46.2 bn of 2004-05"

(According to reliable sources in KESC)

>>"0.1% tax on cash withdrawal of Rs. 25000 and above would increase the ratio of direct taxes to GDP as well as promote documentation."

(Director General Large Taxpayers Unit (LTU) Shahid Jamal expressed these views on June 13 )

>>"Qatar Airline is close to sign a deal to buy up to 60 of Airbus' new A350 jets worth $10.6 bn and would also buy at least 20 of Boeing Co's larger 777 planes for around $4.6 bn, giving a boost to airline industry."

(Qatar Air Line claimed on Monday)

 

 

"Sunflower crop in Badin and Thatta districts has been partly damaged and given low yields due to inferior quality of seed of Sum Sun applied by M/s Rainbow Agriculture business."

(Sindh Chief Minister Dr. Arbab Ghulam Rahim said this on Monday)

"We are worried about the oil prices, but we can't do anything, prices will remain high untill 2006 or 2007 as there will be no excess capacity in the market untill then".

(Iranian Oil Minister Bijan Zanganeh said that OPEC was helpless as it was already producing at full capacity)

>>"If the Saudi Arabia's Kanooz - Al-Watan group did not deposit the bid money by Wednesday, the government would ask the second highest bidder to match the bid."

(A spokesman for the Privatisation Commission said this on Monday.)

>>"The budget proposal would discriminate local manufacturers as they would be paying higher amount of sales tax against imported goods."

(PBCMA Chairman Maqsood Ismail said this on Tuesday)

>>"Inflation appeared in check last month based on a key indicator of US prices at the wholesale level, while retail sales fell sharply."

(According to reports released on Tuesday in United States)

>>"Rigid positions taken by both the government and PTCL workers union on the disinvestment of the 26% state-owned share followed by arrest of top union leaders has made its sell-off no difficult."

(Analyst in the Karachi Stock Exchange said this on Tuesday)