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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
Kuwaiti Dinar 204 204.1
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
Nov 21 - 27, 2005

"Our people have the ingenuity, resilience and resolve to transform challenges into opportunities."

(Prime Minister of Pakistan Shaukat Aziz said in the launching ceremony of Millennium Development Goals Report 2005)

He outlined Pakistan's commitment to achieve the Millennium Development Goals, saying main emphasis was on poverty alleviation, creation of jobs, promoting education and health facilities.

"Pakistan has suffered a disaster as serious as the tsunami which shook the world at the beginning of the year. It's not an easy job to get to the people. You can't just send in a helicopter on a whim...This is not something we can transform overnight."

(Cherie Blair, wife of British Prime Minister Tony Blair, said in a meeting with Pakistan's High Commissioner Maleeha Lodhi.)

Britain has granted trade concessions to Pakistan to help it recover from the October 8 earthquake disaster that inflicted damages of billions of dollars, Pakistan's High Commissioner Maleeha Lodhi said. "We are hopeful that the European Union will respond and help Pakistan trade its way through the crisis.

"The Sensitive Price Indicator (SPI) for the week ended on November 10 for the lowest income group up to Rs 3000 has registered 0.48 percent increase over the previous week," according to the Federal Bureau of Statistics (FBS).

The SPI for the week under review in the above mentioned group was recorded at 135.24 as against 134.60 recorded in the previous week. The weekly SPI has been computed with base 2000-2001=100 covering 17 urban centers and 53 essential items for all income groups and combined.

The First Pakistan Industry Conference will be held in Karachi from December 2 to 3 this year.

(The conference is being organized by the Mediators Conferences and is supported by Board of Investment and SITE Association of Industry, Karachi.)

The two-day conference will have five sessions to deliberate issues such as meeting energy demand of the growing industry, capacity building of SMEs to back up large scale manufacturers, bridging the human resource gap, building communications network to support the industrial growth, monetary and fiscal policy for industrial growth and investing in the next generation of industries.

Jos Van Hulten was highly impressed of the potential of SMEs in Pakistan, which possessed a number of business opportunities for Dutch SMEs.

(Endhoven Chamber's International Trade Manager Jos Van Hulten exchanged a number of ideas at a meeting with a team of Smeda experts.)

According to the government's figures, as of November 3 at least 73000 people were killed in the NWFP and AJK with 3.5 million persons displaced and an estimated 1.6 million persons without adequate food. World Bank has transferred $200 million to Pakistan for the relief operation.

"China is planning to heavily invest in manufacturing sector as there are business opportunities due to farsighted economic policies and resource team availability with good skills."

(SVA Group Chairman XU Weihu said this at a meeting with Minister for Industries and Production Jahangir Khan Tareen.)

The Chinese company Shanghai Video Audio Group (SVA-Group) is initiating a joint venture with Ruba Group with the name of M/s SVA-Ruba Electronic Company aimed at making Pakistan export base for electronic products.

"Increase in trade deficit is actually a vote of confidence for the economy as, with the new industrial units in place in the coming years, exports of the country are bound to grow; and there is no reason that exports would touch $35 billion figure by 2010."

(Export Promotion Bureau Chairman Tariq Ikram has said.)

Imports of machinery, raw material and the fast going up international oil prices were the biggest contributors in this regard. There is nothing 'negative' in the increase in trade deficit, as it is going up on account of 'productive activity' on the economic front.

"The central scenario in this forecast paints a picture of high global economic growth, a holding up momentum in world trade growth and a return to potential growth in the Euro area and the EU as a result of a strengthening of domestic demand," the European Commission said.

Lower unemployment and increased investment would drive the rise in domestic demand, the surge in oil prices also made the Commission revise upwards its inflation projections for this year and next. But the trend was still a falling one - slowing from 2.3 percent in 2005 to 2.2 percent in 2006 and 1.8 percent in 2007.

"More concerted and sector specific efforts were needed to promote bilateral trade between Pakistan and Canada," the Canadian High Commissioner suggested to the Lahore Chamber of Commerce and Industry (LCCI).

Vice President to arrange a delegation of top Pakistani businessmen to have first hand knowledge about the Canadian business atmosphere, as exchange of trade delegation and exhibitions were the most effective tool to increase the level of bilateral trade.

 
 

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