FOR THE RECORD
 

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Compiled by Syed Mujtaba Zafar
June 27 - July 03, 2005
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>>"It is our vested interest to improve the power generation and supply in the city and make our living comfortable and contribute to enhancement in industrial and commercial activities."

 

 

(Farooq Hassan, spokesman for Hassan Associates)

---After reported retreat by Al-Qanoos of Saudi Arabia, the Privatization Commission has invited Hassan Associates, the second highest bidder for the privatization of KESC, for re-negotiations on a fresh deal for the sale of KESC. The meeting between privatisation commission and the Hassan Associates is due on June 27.

>>"PTCL's privatization was in Pakistan's interest and hopefully the transparent bidding process would also help the government alleviate poverty."

(Privatization Minister, Hafeez Sheikh)

-- 26% shares of PTCL were sold at a price of $2.59 billion to 'Etisalat' on 18th June.

>>"The weaker euro this year should help stabilize leading indicators over the summer, and falling expectations for an ECB (European Central Bank) rate cut should help stabilize the euro-dollar rate,"

(New York-based Bank of America's strategist Robert Sinche)

>>"If the items did not arrive on time, there would be no increase in inflation because the government had been able to bring the inflation rate down through sound management."

(Dr Ashfaq Hassan Khan, Economic Adviser to the Ministry of Finance)

>>"The cement prices might increase, as the government had not reduced the central excise duty for the second consecutive year despite a clear-cut commitment."

(APCMA Chairman, Tariq Saeed Saigol)

----Cement industry is running at 100% capacity utilization due to robust demand growth in domestic and export shipments.

>>"Our negotiations with Chinese side proved very productive and encouraging to introduce the Pakistani rice in the local market as soon as possible."

(Shahid Mahmood, Commercial Counselor in Pakistan Embassy)

>>"The substantial increase in FDI was an indicator on investors' confidence and change of perception about Pakistan at the international level."

(Waseem Haqqie, Chairman of the Board of Investment)

---The foreign direct investment in Pakistan crossed $1 billion mark during the first 11 months of the current fiscal year, showing an increase of 14 percent over the same period last year.

>>"OPEC is just trying to take the market down and give the impression of more actual supplies."

(Craig Pennington, Head Energy Analyst at Schroders Plc in London)

>>"The official inflation rate in India is just a statistics with no connection to the underlying real trend."

(Morgan Stanley Economist, Chetan Ahya)

>>"Enormous call tariff existed in Pakistan, Saudi Arabia and UAE. Etisalat is present in all three countries. It is hoped that rates in these countries could be reduced".

(Chief Executive, Etisalat International, Obaid Saeed bin Mes'har)

---The UAE company outbid various rival companies by winning 26 percent stakes and management rights of PTCL.

>>"Rs155.158 billion proceeds of 26 percent shares of PTCL would not be utilized for social sector and development but for reducing the fiscal deficit as well as bank borrowing."

(Prime Minister Shaukat Aziz)

 

 

>>"Every year there are conflicting reports from different quarters about the size and quality of mango crop. This year, despite some sections expressed their concern, so far there is nothing to suggest any major deviation in terms of size of the crop"

(PHDEB Chief Operating Officer, Mohammad Iqbal)

---The export of mango this season is likely to fall by 15 percent because of low production due to virus attacks.

>>"The Doha development agenda will be the basis for future trade and it will settle pending implementation issues and may add new dimensions of the obligations."

(Former FPCCI Vice-president Engineer M.A. Jabbar)

>>"We think the price received by government reflects true value of the company and all stake holders would benefit from the transaction."

(Prime Minister Shaukat Aziz)

>>"Pakistan is trying to increase the outreach of micro financing to three million people in five years from the existing one million."

(Tawfiq.A.Hussain, Deputy Governor of the State Bank)

>>"World-wide cereal output is expected to decline 2.8 percent this year from record levels in 2004 in response to decrease in the United States and Europe."

(United Nations, Food and Agriculture Organization)

>>"The importers will be allowed to import sugar and other food items through any route - land , sea or air."

(Adviser to Prime Minister, Dr. Salman Shah)

>>"The federal government has allowed import of essential food items to control rising prices in the country."

(Daily Dawn, 23rd June)