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CURRENCY BUYING

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US Dollar 59.9 60
Bahrain Dinar 158 158.1
Canadian $ 50.85 50.95
Euro 70.75 70.85
Hong Kong $ 7.65 7.7
Japanese Yen 0.508 0.51
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UK Pound 103.7 103.8
Last updated: Friday 23 Dec, 2005-12.30 P.M (PST)

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3 DAYS FORECAST
In oC

CITIES MIN MAX

HUM%

FOR.

KARACHI
Today 12 26 38 Sunny
Tomorrow 11 27 38 Sunny
Day after 11 28 38 Sunny
LAHORE
Today 1 20 87 Sunny
Tomorrow 2 20 87 Sunny
Day after 2 21 87 Sunny
ISLAMABAD
Today 0 18 59 Sunny
Tomorrow 0 18 59 Sunny
Day after 0 21 59 Sunny
HUM%: Humidity In %
FOR.: Weather Forecast
updated: Fri - Sun 23-25 Dec, 2005

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KARACHI         - 021 LAHORE          - 042 ISLAMABAD    - 051 FAISALABAD   - 041 MULTAN          - 061 PESHAWAR    - 0521 CANADA          - 1 KUWAIT           - 965 INDIA               - 91 IRAN                - 98 U.K                   - 44 U.A.E                - 971 U.S.A                - 1

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  FOR THE RECORD

By SYED ATIF ALI
Oct 10 - 16, 2005

"There are bright prospects of joint ventures between the two countries in the field of refineries, petrochemicals, metallurgy, cement, power generation and mining," said Romania's Honorary Consul General Ahsan Zubairi.

(Ahsan Zubairi said that Pakistan and Romania has old trading partner and that Pakistani traderís has great chance to reach European Union (EU) members through Romania as it has preferential trade arrangements with all European Union.)

"51.5% Pakistanis see no change in economic condition," claimed PSLM conducted by Federal bureau of Statistics.

(Pakistan Social and Living Standard Measurement (PSLM) survey conducted by the Federal Bureau of Statistics, reported that 51.5% of the population's economic condition remained unchanged. However, 27 percent households in urban areas and 22 percent in rural areas were reported improvement in their economic situation as compared to previous year. The economic condition of 25 percent rural and 22 percent urban households worsened during the same year.)

"Pharmaceutical products in Pakistan were skyrocketing with little check from the government agencies on price mechanism," said President Citizens Rights Association Nasir Ahmed

(Nasir Ahmed said the government should not hesitate in opening duty free import of pharmaceutical products from India, as medicine is after all more important than sugar that was allowed to enter Pakistan duty free.)

"We are very concerned about our countryís reputation, If they don't care about our country's reputation, we don't care about their reputation,íí said Dubai Labor Undersecretary Khalid Alkhazraji.

(Dubai Labor Undersecretary Khalid Alkhazraji has warned that Company executives will find their names on a public shame sheet published by the government if they donít start paying wages to Asian laborers. The step is taken after a successful strike of Asian workers employed in construction business who were not paid for their work long ago.)

"New Zealand is the easiest place in the world to do business and UK is the easiest to get credit," said IFC (The International Finance Corporation)

(New Zealand is the easiest place in the world to do business and deal with licenses, while UK is the easiest to get credit. Pakistan stands at 38th rank, India at 116th position while Japan ranks at 91st position in the survey. The IFC survey scans the position of 155 countries, including both developed and developing.)

"Europe's third-largest airline British Airways reduce15 percent of there labor force."

(The reason behind job reduction are ìnew technology under the Terminal 5 move at Heathrow will allow each worker to do more, while growing use of automated facilities such as on-line booking and automated check-in will also lead to cutî. Airline was targeting a 300 million pound ($529.8 million) reduction in labor costs by March 2007.)

"Improving investors' confidence was one of the major goals of this Government that has been met with great success," said World Bank's Country Director for Pakistan, John Wall

(World Bank's Country Director for Pakistan, John Wall said that Pakistan had successfully laid the groundwork for a 'sustained growth and poverty reduction' in the country.)

"By 2008 we are confident to achieve this target, since the two countries registered a rapid growth in their trade interactions in the recent years," said a senior Pakistani official.

(Pakistan, China expects to take their bilateral trade volume to around $8 billion by the end of 2008, when tariff on most trading items would be reduced to zero, under the Early Harvest Programme (EHP).)

"Pakistan faced a negative trade balance of $1.551 billion during July-August 2005 due to higher imports, particularly oil and machinery items."

(According to provisional trade data released by Federal Bureau of Export, Imports during July-August 2005 surged by 44.27 percent to $4.231 billion against $2.933 billion during the corresponding period of last year. Exports during July-August 2005 totalled $2.680 billion as against $2.371 billion during the corresponding period of last year showing an increase of 13.02 percent.)

"China recorded a trade surplus of $60.2 billion in the first eight months of 2005, far surpassing the $32 billion logged in 2004. The August surplus of $10 billion was the third-biggest on record, as strong growth in exports made up for a rebound in imports," said Chinese Commerce Ministry.

(China's Commerce Ministry has forecast a trade surplus of $90 billion to $100 billion for 2005, and the country's two-way foreign trade would hit $1.4 trillion)

"The Governor of Sindh has issued 'The Sindh Essential and Commodities Price Control and Prevention of Profiteering and Commencement Hoarding Ordinance 2005' with immediate effect providing for price control and prevention of profiteering and hoarding of essential commodities in the province."

"The Asian Development Bank (ADB) is expected to approve a $75 million concessional loan for Baluchistan Devolved Social Services (BDSS) programme by the end of this year," newspaper report.

 
 

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