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)



In oC




Today 12 26 38 Sunny
Tomorrow 11 27 38 Sunny
Day after 11 28 38 Sunny
Today 1 20 87 Sunny
Tomorrow 2 20 87 Sunny
Day after 2 21 87 Sunny
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




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







Dec 26 - Jan 01, 2006

"All contributions would be accounted for and the government would update the website regularly. This will certainly encourage confidence among all sponsors, including Pakistani expatriates and foreign countries, donors, organizations and individuals."

(President Pervez Musharraf said in a meeting.)

"The current account deficit was very disappointing, what we hadn't factored in was the greater outflow due to overseas earnings in the UK."

(Chief Economist at Investec, Philip Shaw said.)

"At present the city needs 2200 mw power whereas the production is only 1700 mw. We will generate more electricity by March 2006 and then there will be no shortage."

(Sindh Governor Dr Ishratul Ibad Khan said.)

"It shows continued export expansion, and that's another positive on top of the domestic economic recovery that's already taking place,"

(Chief Economist at Macquarie Securities Japan Richard Jerram said.)

"The investment climate is extremely conducive and corporate profits are all time high. Our economic philosophy is based on deregulation, liberalization and privatization along with consistency, continuity and transparency of policies."

(Prime Minister Shaukat Aziz said.)

"For investors to invest funds in bills which offer return of 8.75 percent is an ideal opportunity. If discount rate stays at 9 percent, you are unlikely to lose money".

(A money market dealer of local bank said.)

"I predict that exports will be somewhere around $73 billion. The normal programme target was only $71 billion."

(Foreign Trade Minister Kursad Tuzmen said.)

Turkey's exports are projected to be around $73 billion and imports $118 billion-$120 billion at the end of 2005.

"Farmers in Punjab are even asking Rs 80 to 100 for 40 kg of cane. All millers have decided to stop production as we cannot run mills on such a high cane price. The government should accept our offer if it wants to keep domestic prices at Rs 25 to Rs 26 (per kg) level."

(Chairman of the Pakistan Sugar Mills Association, Zaka Ashraf, said.)

"This Vision Document has coincided with the momentous resolutions issued during the last Islamic summit in Makkah which accentuated the IDB's role and called for promoting its tools and enhancing its cooperation programmes."

(Islamic Development Bank's President, Dr Ahmad Mohammad Ali, said.)

He thanks to the chairman and members of the Commission for their importunate hard work in the last few months which resulted in that "noble document" and clear vision that will cause the bank's inspiration up to 2020.

"In South Asia region we lack effective network and governance. We need to pool our resources and to form think tanks to deliberate on proper utilization of public resources and to improve governance."

(Dr Abdul Hafeez Shaikh, Federal Minister for Privatization and Investment, said.)

"We're going to come in at about $40 billion of exports this year. I'd say there's upward of 20 to 25 percent of additional US exports to China that could take place if those barriers were removed, if there was open market access."

(US Under Secretary of Commerce for International Trade, Franklin Lavin, said.)

"Overall orders have been firmer in recent months as eurozone manufacturers have benefited from the softer euro and relatively healthy global growth."

(Economist at Global Insight, Howard Archer, said.)

"We will remain focused on non-resident Indians (NRIs) in the Gulf and Indian-oriented business for the next 12 to 18 months. The Dubai International Financial Centre (DIFC) office is a significant move in our international operations. We've to see what more we can do from Dubai."

(Managing Director K.V. Kamathc said.)

"Poverty and inequality are closely linked; so, there is need to devise a new poverty reduction strategy with focus on re-distributive policies, while the country has also made commitment to attain Millennium Development Goals, economic policies need to be expansionary, besides focus on growth with equity. Fiscal policies should be focussed on scaling up public investment, financial policies geared to channeling more resources to productive private investment and monetary policies to target real economic variables."

(Talat Anwar, a UNDP economist, said in his paper on Prevalence of relative poverty in Pakistan.)

"Everyone who is eligible accepted the offer, but only 60 percent of the claims were given the offer, and that means 40 percent is unreconciled."

(Chief strategist at the Argo fund management group in London, Richard Segal, said.)


Pakistan & Gulf Economist 2005    Privacy Policy   |   Terms of Uses