"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
(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
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.
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.)
complex declared the status of Export processing zone," official
(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
"PRSP expenditures stand
at Rs 316.2 billion, registering the growth of 21% as compared to
(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."