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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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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 24 - 30, 2005

"Trade deficit increases from $264.3 million to $823 million from September 2004 to September 2005," Federal Bureau of Statistics data .

(The comparison of September 2005 and September 2004 figures shows rise in exports to $1.499 billion from $1.113 billion, while imports rose to $2.322 billion against $1.378 billion, showing an increase of 68.57 percent. This indicates trade deficit of $823 million.)

"The customs duty on import of high-speed diesel oil should be reduced from 10 percent to 5 percent," Ministry of Petroleum and Natural Resources proposed .

(The government is considering reducing the customs duty on import of high-speed diesel oil from 10 percent to 5 percent, which would bring down the price of HS diesel in the country.)

"The Consumer Price Index (CPI) in September declined to 8.53 percent against 9.00 percent September of last year, while inflation during July-September 2005-06 also came down to 8.64 percent from 9.19 percent of last year," according to Federal Bureau of Statistics (FBS).

"Rehabilitation of the victims and construction of damaged areas are uphill tasks that may take 4-5 years," said John Wall, country director, World Bank.

(John Wall warned Islamabad of serious repercussions of October 8 earthquake, saying only appropriate measures could minimise the risks and ensure compensation to the rightful and deserving affectees.)

"The figures show that growth has not lost any momentum. There is little of sign that policies to restrain investment are having an effect on growth," said Takamoto Suzuki, an economist at Mizuho Research Institute in Tokyo.

(China's economy expanded a faster-than-expected. GDP 9.4 percent in the third quarter from a year earlier, whereas the economist expected GDP was 9.3 percent and getting more than targetted GDP is a sign of strong industrial output and investment.)

"Pakistan International Airlines will join quality airlines of the world with the induction of two of the world's longest-range jetliners, Boeing 777-200LRs world-liners in its fleet early next year," said Pakistan International Airlines spokesman.

(Pakistan International Airlines will introduce two of the world's longest-range jetliners, Boeing 777-200LRs world-liners in its fleet early next year. Aircraft would give PIA an edge over the three private carriers, which have also been allowed to operate on foreign routes.)

"Al-Tuwairqi steel complex declared the status of Export processing zone," official sources.

(The Ministry of Industries and Production has declared Al-Tuwairqi Steel Complex, to be spread over 200.21 acres land at Port Qasim, as Export Processing Zone (EPZ))

"Investment climate in Pakistan, particularly in Karachi, is more favorable and conducive then ever before to promote business here, as textile sector in Pakistan has grown up during the last four-five years," said Deputy High Commissioner of United Kingdom Ron Rimmer.

(Ron Rimmer, Deputy High Commissioner of United Kingdom was talking to press during his visit to Popular Fabrics Quaidabad, Karachi. He said that relations between Pakistan and Britain had been established on firm basis of equal friendship as both the countries were enjoying very cordial relations with the increasing co-operation in social and economic sectors. He said that the Government of Britain was deeply interested in the development and prosperity of Pakistan, owing to strong relations existing between the two countries for decades.)

"Within the private sector, the support for SMEs is crucial not only to promote growth in manufacturing, but also to generate more employment which, in turn, can have a significant impact on poverty reduction," said Fedon, Country Director of the ADB resident mission.

"The Asian tsunami disaster earlier this year provided a model through which we could quickly mobilize a joint team to make an assessment that will guide the reconstruction and rehabilitation following the earthquake," says Peter Fedon, ADB Country Director in Pakistan.

(The World Bank and Asian Development Bank has planned to begin a joint assessment of the needs and reconstruction cost following the 7.6 magnitude earthquake which devastated AJK and parts of NWFP on October 8.)

"The liquid foreign exchange reserves of Pakistan, slipped to below $12 billion mark for the first time in the last 13 months. Continuing their downward slide, reserves stand at $11.7 billion on October 15, 2005," according to data released by State Bank of Pakistan.

(The reduction in foreign exchange reserves continues as the figure declined to $11.7 billion last week. Analysts says that the reduction is caused by ever-widening trade deficit.)

"PRSP expenditures stand at Rs 316.2 billion, registering the growth of 21% as compared to FY04."

(The Poverty Reduction Strategy Paper (PRSP) expenditures for FY05 stood at Rs 316.2 billion, which indicate an increase of 21 percent in FY05 over FY04. All provinces and Federal areas have also increased their PRSP expenditures in FY05 as compared to FY04.)

"A sum of Rs14.1 million has been allocated from the Export Development Fund (EDF) for the promotion of Gujrat's fan industry."

 
 

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