The Pakistan mobile subscriber base has raised to 91.008 million in February 2009, growing from 90.703 million in January, reports PTA. Mobile density in Pakistan hiked to 56.50%, up from 56.30% in January.
Mobilink, the market leader, saw a drop in mobile subscriber base which fell from 28.315 million to 28.116 million whereas Telenor jumped to the second position with a subscriber base of 19.842 million, up from 19.657 million in January.
For more on this article, please click on the following link: Pakistan’s mobile subscriber base totals 91Mn at February’09-end: Wireless Federation
Monday, March 30, 2009
Pakistan’s mobile subscriber base totals 91Mn at February’09-end: Wireless Federation
Sunday, March 29, 2009
Pakistan’s ‘quiet man’: Pakistan Observer
Shumaila Raja
Who is General Ashfaq Parvez Kayani? He is being discussed everywhere, in the media, public meetings and drawing room sittings. Analysts and TV anchors are discussing his personality at national and international level. Gen Kayani enjoys the repute of a gentleman who thinks like a scholar and acts like a soldier. He is held in high esteems in Euro-American circles, Peoples Republic of China and the Middle Eastern armies. His photograph had been added to the US Army International Hall of Fame – the fourth Pakistan Army General to have attained this honour.
The 2008 Time’s 100, while listing General Kayani the 20th amongst hundred most influential leaders and revolutionaries in the world, wrote: “…Kayani showed that his loyalty lay with the nation, soldiers, friends, diplomats and politicians all extol his reasoned thinking and tempered judgment.” BBC News in a report on November 27, 2007 titled “The Rise of Pakistan’s Quiet Man” wrote: “…[Gen. Kayani] noted for his patience, diligence, intelligence and sheer determination…has ability to keep a low profile when necessary while also being able to take decisive action when it’s needed... has a “can-do” image as a man who gets things done”. A New York Times report noted that “[Gen. Kayani] received high praise from the US for his military prowess and his commitment to disentangle the army from domestic politics.”
When he took over the image of the armed forces was at its lowest ever level. The forces were being targeted by the militants and assailed by the general public, thanks to the prolonged rule of Gen. Musharraf who badly failed in curbing the war against terror and maintain law and order situation, besides controlling the commodity item and household goods’ prices. The challenges for Gen. Kayani were enormous – both at home and external fronts. But today we see Pakistan’s Armed Forces stand absolved. Gen. Kayani stood guard to the tests of time, to the challenge emanated from the recent political crises pre and post-Long March.
The armed forces contribution has been exemplary during the last 62 years. They have set high standards of command, bravery, dedication, commitment, discipline – and above all professionalism which has acquired this exalted place for the army. He attaches great importance to make the army one of the best in the world and equip its officers and men with necessary wherewithal required by a modern soldier. That’s why he declared the year 2008 as “the Year of the Soldier”, and the year 2009 as “the Year of Training”. There is no doubt that our soldier’s contribution in the ongoing war against terror is enormous and unprecedented. He has set high standards of bravery, gallantry and valor. The General made a point to visit them in operational areas and award them for their gallantry deeds. In this ongoing year, he is especially concentrating on the soldier’s training and professionalism.
For more on this article, please click on the following link: Pakistan’s ‘quiet man’: Pakistan Observer
Reinstated, Chief Justice Bears Hopes of Pakistan: New York Times
ISLAMABAD, Pakistan — At a Supreme Court hearing on Thursday in a property dispute, the defendant, Gul Zameen, insisted that Chief Justice Iftikhar Muhammad Chaudhry personally take his case rather than assign it to other justices, as his opponent requested.
“Please, I want you to hear the case,” said Mr. Zameen, 55, who has been fighting over a house in North-West Frontier Province since 1991.
Much to his relief, Mr. Chaudhry agreed.
“We hope he will do justice,” Mr. Zameen’s son, Shahid Rafiq, said later. “Not only with us but with everybody.”
Since returning to the bench last week for the first time since he was ousted two years ago by Pervez Musharraf, then Pakistan’s president, Mr. Chaudhry has faced a groundswell of expectations from people like Mr. Zameen and from the politicians and lawyers who struggled to get him reinstated. Just as his ouster became a national symbol of political interference in the judiciary, millions of Pakistanis have invested his return with hopes that he will set every injustice right.
“Many people saw him as a savior, and he is a savior for them, even though the lawyers’ movement was essentially aimed at upholding the rule of law,” said Babar Sattar, a constitutional lawyer, who warned that such unrealistic hopes were bound to produce disappointments. “Some expectations will be frustrated, as a lot of different people have different expectations.”For more on this article, please click on the following link: Reinstated, Chief Justice Bears Hopes of Pakistan: New York Times
Pakistan’s exports to US dwindle owing to gas shortage: Daily Times
By Tanveer Ahmed
KARACHI: Pakistan lost considerable share of its export to United States of America (USA) during the current financial year owing to host of reasons, sources in the export sector told Daily Times.
Textile and clothing was the main sector, which lost its share in the USA market as according to exporters and officials, the share of export to USA fell below 20 percent in total export volume compared to 22 to 24 percent in the previous years.
The sliding export to USA market has been causing concerns in the export sector of the country for quite some time as high cost of production coupled with high tariff structure on Pakistani export has been depriving the country from this high priced and lucrative American market.
However, the report of USA chamber of commerce a couple of days to ease the tariff slabs and provide greater market access to Pakistani exports has been seen as an encouraging move, which if implemented would definitely help Pakistan to regain its lost share in this market.
Although, global economic recession, which hurt USA severely contributed in dwindling Pakistani export to this market, other factors too made the situation tough for the local exports.
For more on this article, please click on the following link: Pakistan’s exports to US dwindle owing to gas shortage: Daily Times
$200 Million Fund Set Up for Distressed Pakistan Projects: Khaleej Times
| Muzaffar Rizvi |
| 28 March 2009 |
DUBAI - NBD Sana Capital, a private equity firm, is setting up a $200 million fund to invest in troubled industrial units and farming projects in Pakistan, a senior Pak government official said. The fund would takeover the distressed projects mainly in textile industry, agriculture and dairy farming sectors and put them back on track by injecting ‘sufficient capital’, Dr Mirza Ikhtiar Baig, chairman of the Pak-UAE Business Council, said after concluding the meetings with major UAE business groups and the government officials. “We have identified some model projects under this head and a technical team from the UAE will be visiting Pakistan to set the modalities,” Dr Baig told Khaleej Times on Friday. Elaborating, Dr Baig said some textile units in Pakistan need cash injection and running finance for value addition and capacity boost and this fund will also invest in such projects. “Initially, we have short-listed Pak Denim, Siddique Sons and some other firms from renewable energy sector,” Baig, who was heading a 35-member Pak business delegation, said. NBD Sana Capital is a private equity firm that invests in some of the world’s fastest growth markets of the Middle East, North Africa, Turkey and South Asia. Dr Baig, who is also an advisor to President of Pakistan, further said Dubai Export Development Corporation, or EDC, would offer export credit insurance guarantee to Pakistani exporters. “The EDC initiative offering up to 90 per cent of credit insurance, will help Pak exporters to cover the risk and strike more business deals in coming days,” he said. Dr Baig, who is also a Chairman of Baig Group, said talks on free trade agreement between Pakistan and Gulf Cooperation Council states are at ‘advance stage’ and the process will be accelerated to conclude the deal in near future. He said the UAE government has shown its interests to invest in Pakistan’s agriculture and water sector to ensure food security. |
Govt plans to sell stakes in 3 companies this year: Qamar: Daily Times
ISLAMABAD: Pakistan plans to sell stakes in at least three companies by the end of June, reviving an asset sale programme stymied by political instability and a slowing economy. "This will be the start of our programme with a new concept of modernising companies with efficient management rather than a fund-raising target," Privatisation Minister Naveed Qamar said in an interview.
Ministry officials will meet potential buyers for National Power Construction Co. (NPCC) on March 28 to set a bidding date as early as next month, he said. Stakes in Jamshoro Power Co. (JPC) and Heavy Electrical Complex (HEC) may be sold by June 30, Qamar said.
Funds raised from asset sales fell by a quarter last year as political wrangling and terrorist attacks in the nation's biggest cities deterred overseas investors. Pakistan yesterday said it would seek $10 billion in funds over the next three years for development projects after securing a $7.6 billion bailout from the International Monetary Fund to avert default.
Since the start of this fiscal year on July 1, Qamar has completed only one transaction, raising Rs 1.34 billion ($16 million) by selling a stake in Hazara Phosphate Fertilizers Ltd., a urea maker. That compares with the previous government of former President Pervez Musharraf raising Rs 25.5 billion in a year through stakes in Habib Bank Ltd. and United Bank Ltd.
For more on this article, please click on the following link: Govt plans to sell stakes in 3 companies this year: Qamar: Daily Times
Drone Attacks Are Violation Of Pakistan’s Sovereignty: FO: Online News
ISLAMABAD: Pakistan condemning the drone attacks on its territory has termed them counterproductive and violation of country’s sovereignty.
Foreign Office spokesman in response to a question said, "drone attacks on our territory are a violation of Pakistan’s sovereignty and definitely counter-productive. It is important that US Administration factors this in its operational policy.For more on this article, please click on the following link: Drone Attacks Are Violation Of Pakistan’s Sovereignty: FO: Online News
Saturday, March 28, 2009
Gold import falls by 77 percent in Pakistan: Pakistan Times
KARACHI: Gold imports in the country has almost come to end, following persistent gold price hikes in the global markets, while the February imports of gold as compared to January recorded a fall by 77 percent.
All Sindh Sarraf Jewellers Association (ASSJA) Sindh president, Haroon Rashid Chand said that 10 kilogrammes of gold worth Rs25 million was imported in February 2009 as against 43 kilogrammes in January 2009, which was valued at Rs96 million.
According to available data, the February 2009 gold import as compared to February 2008 imports of 164 kilogrammes showed a decline of 90 percent.
He said that gold imports in the first eight months of the current fiscal year falling by 29 percent aggregated to 480 kilogrammes valued at $1.08 billion, while in the same period previous year it was 672 kilogrammes valued $89.8 million.
For more on this article, please click on the following link: Gold import falls by 77 percent in Pakistan: Pakistan Times
Pakistanis estimated to have investments worth Rs.190 billion in UAE estate sector: APP
DUBAI, UAE, March 28 (APP) ‑ Pakistani businessmen have invested about Rs. 190 billion or more than 8.7 billion dirhams in the real estate sector of United Arab Emirates (UAE).
This was stated by the president of Pak UAE Business Council Dubai Iskandar Sultan while welcoming the visiting delegation of FPCCI here at a dinner on Friday.
Pakistani Ambassador in UAE Khursheed Junejo and leading Pakistani businessmen in the Emirates were also present on the occasion.
He said that Pakistan has become the top third investor in the UAE real estate sector.
He said that more than 6000 Pakistani companies were operating in the Emirates and was greatly contributing to its booming economy.
Leader of the Pakistani delegation Dr. Mirza Ikhtiar Baig on the occasion invited Pakistani companies to invest in Pakistan’s agriculture, dairy farming, energy, telecommunication sectors alongwith textile city and other projects that offer high return on investment.
Earlier, in the day, Pakistani delegation visited Sharjah Chamber of Commerce and Industry and invited investment from UAE businessmen in infrastructure, alternate energy and agriculture.
For more on this article, please click on the following link: Pakistanis estimated to have investments worth Rs.190 billion in UAE estate sector: APP
Russia to help Pakistan build N-power plants: The Nation
By: Maqbool Malik | Published: March 28, 2009
ISLAMABAD - The Russian Federation and Peoples Republic of China have decided to bail out Pakistan from the constraints, relating to establishing the new nuclear power plants, for meeting the country’s pressing energy needs.
TheNation has learnt reliably from diplomatic sources that Moscow and Beijing have decided to offer its cooperation to Islamabad in setting up new nuclear power plants to meet Pakistan’s growing energy needs. The sources also said that Russia-China offer contains the conditions that the nuclear power plants, offered to Pakistan, should be set up under the supervision and in collaboration with International Atomic Energy Agency (IAEA).
For more on this article, please click on the following link: Russia to help Pakistan build N-power plants: The Nation
Thursday, March 19, 2009
Current account deficit narrows 14pc: The News
KARACHI: Pakistan’s current account deficit narrowed by 13.7 per cent between July and February 2008-09 over the same period of previous year after improvement in trade balance and overseas Pakistanis sent home more remittances.
In the first eight months of the current fiscal year, the deficit in current account balance shrank to $7.45 billion from $8.64bn in the same period of 2007-08, showed the State Bank of Pakistan’s data released on Wednesday.
Trade deficit came down to $8.8bn from $9.2bn as exports slightly improved while falling international commodity prices slowed import growth, it revealed.
A freefall in international prices of commodities like crude oil and edible oil, which Pakistan heavily imports, has helped improve a worsening trade balance, one of the reasons which compelled the country to seek International Monetary Fund’s loan to avert a balance of payments crisis.
Exports between July and Feb 2008-09 totalled $13bn against $12.4bn recorded in the corresponding period of previous year. In the same period, imports were $21.8bn against previous $21.7bn.
Even though imports are a little higher, their growth has been substantially controlled when compared with the first July-Sept quarter of 2008-09. Trade deficit almost doubled to $4.1bn in the first quarter compared to previous year’s $2.3bn.
Another factor which greatly contributed to improving the current account deficit was workers’ remittances, which went up to $4.9bn from $4.1bn in eight months.
For more on this article, please click on the following link: Current account deficit narrows 14pc: The News
Best Countries for Business: Forbes
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