Saturday, November 08, 2008
By our correspondent
LAHORE: Pharmaceutical industry, encouraged by crossing $100 million mark in exports, is focusing on achieving a target of $500 million by 2013 provided the government ensures elimination of producers of spurious drugs in local markets which affects the industry’s image abroad.
Pakistan Pharmaceutical Manufacturers Association Chairman Kashif Sajjad Sheikh stated this during a visit of Dr Asad Ashraf, Chairman Chief Minister’s Task Force on Spurious Drugs, to the Lahore Chamber of Commerce and Industry. He said the whole pharmaceutical industry would support the government and extend full cooperation in its drive against unqualified people, who were defaming the industry.
The chairman of chief minister’s task force on spurious drugs assured that stern action against all such unqualified people would be taken, who were harming the pharmaceutical industry for petty gains. He said the government was well aware of the fact that a few unscrupulous people were tarnishing the image of the whole pharmaceutical industry, which was not only catering to domestic needs but also earning foreign exchange for the country.
For more on this article, please click on the following link: Pharma industry targets $500m exports: The News
Monday, November 10, 2008
Pharma industry targets $500m exports: The News
Syria shows the way to Pakistan: The News
| Saturday, November 08, 2008 By Rahimullah Yusufzai |
| The writer is resident editor of The News in Peshawar The way the Syrian government and people reacted to a recent US military raid on a village in Syria near the Iraqi border forced one to reflect on the Pakistani reaction to similar American incursions into its territory. Obviously, the Syrians were angry and protests broke out in Damascus and elsewhere in the country. But a lot more instructive was the strong reaction of President Bashar al-Assad's government, which described the killing of eight Syrians in the attack as a "cold-blooded war crime", demanded an apology and warned of consequences. In comparison, governments in Pakistan whether run by the soldiers or civilians are forever trying to find some justification for such cross-border raids. This is useful to escape the blame for being unable to protect citizens from raids by other powers and defend the country's borders despite spending so much on the armed forces. The reaction by Pakistani governments is belated and mild and no real effort is made to provide facts and figures to the people about the human and material losses resulting from the US ground and missile strikes. The government of President General Pervez Musharraf never demanded an apology from the US for its numerous attacks in Pakistan's tribal areas near the Afghan border and it even failed to ask for monetary compensation for the families of those killed and wounded in the frequent American assaults. The democratically elected government headed by President Asif Ali Zardari and Prime Minister Syed Yousaf Raza Gilani has adopted the same policy even though it was expected to forcefully plead Pakistan's case in keeping with the aspirations of the nation. In fact, the first major ground offensive by helicopter-borne US forces took place on Pakistan's soil in South Waziristan during the PPP-led government's rule in early September but its reaction was meek and rhetorical, packing a lot of hot air and signifying nothing. The situation has come to such a pass that now the US is 'requested' not to launch missile strikes in Pakistani territory and countries ranging from the United Kingdom to Turkey is asked to intercede on Islamabad's behalf for convincing the US to respect Pakistan's sovereignty. Though it is true that states such as Pakistan with weak economy and weaker political will cannot hope to safeguard their sovereignty from arrogant superpowers such as the US, most Pakistanis still expect their rulers and armies to make a real effort toward this end instead of making hollow claims and raising false hopes. With such low credibility, the ruling elite cannot hoodwink the people, who shouldn't be taken for granted as they are able to fully grasp the situation and arrive at intelligent decisions whenever granted an opportunity. For more on this article, please click on the following link: Syria shows the way to Pakistan: The News |
Pakistan Declares Death Penalty for 'Cyber Terror': Wired.com
By Noah Shachtman
American officials can have some pretty over-the-top reactions to hackers and so-called cyber terrorists. Once, I saw a briefing comparing our own Kevin Poulsen to Osama bin Laden and Pablo Escobar -- seriously. But the U.S. has nothing on Pakistan, when it comes to cyber terror paranoia. Yesterday, Pakistani president Asif Ali Zardari signed a law making cyber terror a crime "punishable with death."
Executions will only be allowed if the hack attack "causes [the] death of any person," the Prevention of Electronic Crimes law states.
But the definition of what is considered "cyber terror" is alarmingly broad in the law, proposed last year and signed Thursday by the Pakistani president. Not only does it apply to "any person, group or organization who, with terroristic intent utilizes, accesses or causes to be accessed a computer or computer network or electronic system or electronic device or by any available means, and thereby knowingly engages in or attempts to engage in a terroristic act."
Indian colonel arrested over deadly offensive against Muslims: The News
NEW DELHI: An army officer was arrested on Wednesday in connection with bomb blasts in two western towns that killed five people and were blamed on a Hindu militant group, a government lawyer said.
Officers from the anti-terrorism squad in Mumbai questioned lieutenant colonel Srikant Purohit, a Hindu, for days before finally arresting him.
"He was arrested this morning and is being produced in court," said Ajay Misar, a government lawyer acting in the case.
The officer is accused of helping Hindu militants with bomb-making and other logistics in the attack in the Muslim-dominated towns of Malegaon and Modasa in September.
For more on this article, please click on the following link: Indian colonel arrested over deadly offensive against Muslims: The News
Friday, November 7, 2008
Pakistan outsourcing soars: IT Examiner
Now number three RentACoder
By Aharon Etengoff @ Thursday, November 06, 2008 7:40 AM
Pakistan has reportedly attained a number three ranking on RentACoder. According to E-Commerce Times, the online outsourcing marketplace currently lists India and the US as the top two outsourcing destinations.
"With the Pakistani Rupee depreciating and the Indian Rupee appreciating, costs are 25 to 40 percent cheaper," explained Imran Aftab of TenPearls, a business intelligence and software development company in Herndon, Va.Aftab also noted that the quality of services offered by a relatively untapped Pakistani labour force was "much higher compared to what is available in the saturated Indian market...This provides better value for customers."
For more on this article, please click on the following link: Pakistan outsourcing soars: IT Examiner
Thursday, November 6, 2008
USDA Attache: Pakistan's 2007-08 Rice Exports Surge: Ali Baba
Unfettered by government intervention or an export ban, Pakistan rice exports surged in MY 2007/08 to an estimated at 4.2 million metric tons, positioning Pakistan to overtake the United States as the world's third largest exporter of rice, according to a U.S. Department of Agriculture attache report posted Wednesday on the Foreign Agricultural Services Web site.
Access to last season's strong international prices encouraged farmers to move additional planting area to rice, and as a result, MY2008/09 rice production is estimated to reach a record 6.3 million tons.
In light of this year's bumper crop and the softening of international prices, the Government of Pakistan has announced its intention to purchase one million tons of domestic paddy in an effort to support local prices. The trade is wary of any government intervention in this highly successful, private-sector led market and has responded cautiously to the government's rice procurement scheme.
RICE Production
Based on Government of Pakistan (GOP) data, Post's estimate of MY 2006/07 rice production was increased (5 percent) to 5.45 million metric tons (MMT), the MY 2007/08 production estimate was increased (4 percent) to 5.7 MMT, and the MY 2008/09 estimate increased by (12.5 percent) to a record 6.3 MMT. An expansion in area planted to rice coupled with timely rains and reduced pest activity contributed to this year's record crop production level.
Tuesday, November 4, 2008
IT sector Witnesses 30-50pc growth: Dawn
KARACHI, Nov 4: Pakistan’s IT and ITES sector has been growing at the rate of between 30 and 50pc annually. This growth is being witnessed for the past five years with the largest member of companies grossing between $15 and 30m in annual revenue and receiving $100m valuations.
“Many that started with a small number of people have grown to strong 40-50 people product companies or service companies with teams of 300 to one,000 people, and this growth has resulted in high-paid employment for knowledge workers and an increasingly changing image of technology savvy Pakistan,” said Imran Zia, Chairman, Pakistan Software Houses Association in his opening remarks at the annual flagship ICT awards event recently.
For more on this article, please click on the following link: IT sector Witnesses 30-50pc growth: Dawn
Cement export exceeds three million tons: Brecorder
RIZWAN BHATTI
KARACHI (November 04 2008): Cement exports exceeded 3 million tons as 3.497 million tons cement was exported in July-October of the current fiscal year depicting 73 percent growth as compared to 2.025 million tons during the same period of last fiscal year. This was due to huge export orders from Middle East, industry sources said.They said that surged in cement export was due to high demand and its shortage in the region, especially in Dubai, Afghanistan and India, where construction activities are at peak. Following the rising demand for cement on international front, the industry is also rapidly growing and its production capacity has increased by about 50 percent to 37 million tons from 21 million tons.Cement exports in October 2008 also broke all previous records, as over one million tons cement was exported in a single month. However, due to poor economic situation in the country, local dispatches declined by 14 percent during the period under review. Local cement dispatches declined to 6.337 million tons during this period as compared to 7.456 million tons of last fiscal year. But overall cement dispatches increased by 3.71 percent to 9.834 million tons as compared to 9.482 million tons of last fiscal year.
For more on this article, please click on the following link: Cement export exceeds three million tons: Brecorder
ICRC seeks $7.8 mn for Pakistan`s earthquake-hit people: Mathaba
The International Committee of the Red Cross `ICRC` Sunday launched an appeal of 7.8 million dollars for the affected people of Pakistan`s southwest.
PAKISTAN TELCO PROFIT AFTER TAX RISES TO US$39.3 MLN: TradingMarkets.com
KARACHI, Nov 04, 2008 (AsiaPulse via COMTEX) -- PKTLY Quote Chart News PowerRating -- The profit after tax of Pakistan Telecommunication Company Limited (PTCL) has increased to Rs 3.178 billion (US$ 39.3 million) in the quarter ended September 30, 2008 as compared to Rs 3.012 billion earned in the corresponding period last year.
The board of directors of the company in its meeting held on Thursday declared that the earning per share increased to Re 0.62 in the period under review against Re 0.59 in the same period a year back.
For more on this article, please click on the following link: PAKISTAN TELCO PROFIT AFTER TAX RISES TO US$39.3 MLN: TradingMarkets.com
Saturday, November 1, 2008
Saudi Arabia commits $100 million for quake victims: Business Recorder
RECORDER REPORT
ISLAMABAD (November 01 2008): Saudi Finance Minister Dr Ibrahim Al-Assaf on Friday committed immediate transfer of $100 million relief and rehabilitation support for earthquake victims of Balochistan. Dr Ibrahim further said that Saudi government would be providing a package of health and relief support along with the financial assistance already committed.During a meeting with advisor to the prime minister on finance and economic affairs, Shaukat Tarin, Al-Assaf expressed sympathy over the loss of precious lives and property during the earthquake, which devastated many areas of Balochistan.
For more on this article, please click on the following link: Saudi Arabia commits $100 million for quake victims: Business Recorder
Pakistan can raise $5bn in 30 days: Dawn
By Yousuf Nazar
Given the current ‘political realities’, Pakistan seems to have little option but to go to the IMF. But the truth is Pakistan can raise $5 billion in the next 30 days if it wants to; even if Saudi Arabia does not extend oil credit facility.The United States wants Pakistan to work with the IMF and the government does not want to upset Washington. Otherwise why would it sit on proposals (like the exchangeable bonds and the securitisation of remittances) for months that could have raised a few billion dollars? The proposal from the Chinese to buy minority stake in the National Bank of Pakistan, likewise, was put in cold storage.Raising $5 billion will take Pakistan’s foreign exchange reserves to about $12 billion. This would represent a comfortable level of four months worth of next 12 months of imports as Pakistan’s annual import bill is likely to drop sharply to $33 billion from $40 billion in FY 2007-08 due to the collapse of the price of oil and these of other commodities such as edible oil. Four months of import cover is considered a reasonable level and the country can use this time to take steps, such as privatisation or joint ventures in strategic areas, to mobilise funds for its medium- term needs.Just consider the following four of the many ways the government can use to raise $5 billion for meeting the current crunch. These are not necessarily the most desirable options but are far better than carrying a begging bowl around the world.— Pakistan has about $1.8 billion in gold reserves. Borrowing or leasing against gold is a standard international practice. Pakistan can borrow for six months at the rate of around 2.1 per cent from the central bank of a friendly country such as the United Arab Emirates. India did this in 1991 for a short period.— Pakistan can borrow (not beg) at least US$1.5 billion from China on commercial terms by putting its shares in large government-owned corporations as collateral. China has, in the past year, extended loans to other countries (e.g. Congo) on the basis of proper collateral. The cost of loans secured against collateral can be significantly cheaper compared with other options.— Pakistan can get another $800 million in a few days if the US reimburses the remaining amount for 2008 it should pay under the Coalition Support Fund relating to expenditure incurred on combating terrorism. Pakistan has received only one instalment ($364.7 million in September 2008) for this year’s expenses. A senior military source told Internews that the amount for reimbursement was calculated on the basis of six-monthly reports. He said all bills related to the expenditure had been audited jointly by a team of Pakistani military officers and the US embassy.
For more on this article, please click on the following link: Pakistan can raise $5bn in 30 days: Dawn
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