Technology: Why is blogging so popular anyway?
August 10, 2010
Theatre Review: Noises off is a farce indeed!
August 17, 2010

Pakistan will rise again like a phoenix from the ashes because Pakistani citizens have one trait in common – resilience, endurance and the spirit of carrying on no matter what life throws at them, as Shahzad Roy put it in his song, “Laga Reh,” (“Tu hai aik Aam admi or bus,” translation: “You are just a common man, and that's it” – the common man replies, “to Kia karoon, himat har doon?” “So what else should I do? Should I just give up?” Roy replies, “naheen, Laga Reh!” no, carry on!) - The only way is up when you are all the way down. I have faith we will get through this. By Fareeha Qayoom

By Fareeha Qayoom

T

he sixty-third birthday of our independence dawns with more challenges and battles ahead…our GDP growth was projected at 4.5 percent in spite of power outages, growing unemployment, continued Afghan fall-out, drone attacks, target killings, bombings, death, carnage and destruction, brain drain, shrinking economy, high consumption, lower production, high imports, lower exports comparatively, high prices of essential commodities, hiking inflation, potential food shortages, in-fighting and political wrangling, growing budget deficit, controversy around VAT and GST, higher indirect taxes and new direct taxes and a potential danger of another IMF bail-out with punitive conditions in our future, even then, the prognosis for economy was cautiously optimistic until the monsoons hit and devastated our crops, livelihood, homes and people. We are back at 2 percent GDP growth rate or less for the fiscal year 2010.

Flood Victims

Flood Victims

Pakistan will rise again like a phoenix from the ashes because Pakistani citizens have one trait in common – resilience, endurance and the spirit of carrying on no matter what life throws at them, as Shahzad Roy put it in his song, “Laga Reh,” (“Tu hai aik Aam admi or bus,” translation: “You are just a common man, and that’s it,” – the common man replies, “to Kia karoon, himat har doon?” “So what else should I do? Should I just give up?” Roy replies, “naheen, Laga Reh!” no, carry on!) – The only way is up when you are all the way down. I have faith we will get through this.

The following three poems seem appropriate in remembrance of Pakistan’s 63rd Independence Day.

Khuda Karay

Khuda Karay by Ahmed Nadeem Qasmi

KHUDA KARAY

Khuda Karay K Meri Arz -e- Pak Par Utray,

Wo Fasl -e- Gul Jisey Andesha -e- Zawal Na Ho.

Yahan Jo Phool Khilay, Khila Rahey Sadioon,

Yahan Khizaan Ko Guzarnay Ki Bhi Majaal Na Ho.

Yahan Jo Sabza Ugay Hamesha Sabz Rahay,

Aur Aisa Sabz K Jis Ki Koi Misaal Na Ho.

Khuda Karay K Na Khum Ho Sar -e- Waqar -e- Watan,

Aur Is Kay Husn Ko Tashweesh -e- Mah -o- Saal Na Ho.

Har Aik Fard Ho, Tahzeeb -o- Fun Ka Oaj -e- Kamal,

Koi Malool Na Ho, Koi Khasta Haal Na Ho.

Khuda Karay K Meray Aik Bhi Hum Watan K Liye,

Hayaat Jurm Na Ho, Zindagi Wabaal Na Ho.

Khuda Karay K Meri Arz -e- Pak Par Utray,

Wo Fasl -e- Gul Jisey Andesha -e- Zawal Na Ho.

A poem by Late Ahmed Nadeem Qasmi

The Lost Generation

By Jonathan Reed, 2nd Prize AARP U@50 Video Contest 2007

httpv://www.youtube.com/watch?v=42E2fAWM6rA

According to Wikipedia, “Contestants between the ages of 18 and 30 were challenged to create a two minute video depicting what they feel their life will be like at age 50. The goal of the U@50 Challenge was to encourage intergenerational dialogue enabling young people to speak their minds and give AARP insight into their views.”

“Jonathan Reed, a twenty-something Atlanta native and a student at Columbia College in Chicago, wrote this palindrome poem, “Lost Generation,” about the future waiting for him and his peers. Reading it from the top down is disheartening; reading it from the bottom up is uplifting,” says Phil Bolsta on his blog.

TEXT FOR “LOST GENERATION” VIDEO
I am part of a lost generation
and I refuse to believe that
I can change the world
I realize this may be a shock but
“Happiness comes from within”
is a lie, and
“Money will make me happy”
So in 30 years I will tell my children
they are not the most important thing in my life
My employer will know that
I have my priorities straight because
work
is more important than
family
I tell you this
Once upon a time
Families stayed together
but this will not be true in my era
this is a quick fix society
Experts tell me
30 years from now, I will be celebrating the 10th anniversary of my divorce
I do not concede that
I will live in a country of my own making
In the future
Environmental destruction will be the norm
No longer can it be said that
My peers and I care about this earth
It will be evident that
My generation is apathetic and lethargic
It is foolish to presume that
There is hope.
And all of this will come true unless we choose to reverse it.

The Truth

Jonathan Reed was in turn inspired by The Truth, Argentinean political ad, which won the Silver Lion in the “Public Awareness Messages” category at the 2006 Cannes Lions International Advertising Festival

httpv://www.youtube.com/watch?v=ShDoxve85jI

By Lopez Murphy

TEXT FOR THE “THE TRUTH” VIDEO

This is the truth

If we turn things upside down

We can’t be the best country in the world

I would be lying to you if I said that

Argentina has a great future ahead

That we will be a safe country

That our economy will be strong

That our children will be healthy, get an education and have jobs,

Before anything you must know

Our country does not deserve such things

And I am convinced of this because I know the Argentine people

Corruption and hypocrisy are in our nature

I refuse to believe under any circumstances that

We could be a great country in the coming years

Thanks to the people’s votes

This country is sinking to new depths but

There are even more surprises to come

Argentina has only one destiny

And whether we like it or not

This is what is real

You should know I believe exactly the opposite

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Fareeha Qayoom
Fareeha Qayoom
Publisher and editor-in-chief of Tkfr.com and former print editions of The Knit-Xtyle Fashion Review (tkfr), a trade newsletter for the textile and apparel industry of Pakistan. In short, Publisher, editor, and a blogger. In addition, she has served as Managing Editor of MIT Technology Review Pakistan, print and web editions (2015-16). Total of 7 editions were published under her leadership by ITU, Punjab's first public technology university under the license of MIT Technology Review (USA). She has also managed Value Mag in the same capacity, a real estate and lifestyle magazine for Value TV - 2008-9. Published freelancer for The News on Sunday 1994-96. Fareeha has over 21 years of solid management experience – of managing brands (like Harley Davidson, Munsingwear, Chaps, Chaps Ralph Lauren etc.,), Retailers (like Target, Mervyns, Kohl's, Marks and Spencer etc.,), customers (VPs, Product Managers, Unit Managers, and Buyers), and products (apparel - woven, knits, men's, women's, children's, Print and online publishing units), projects, teams, and processes, information, content, and data, staff, vendors, and time. Versatile and adaptable with international exposure, communication and language skills (oral and written), and a consistent track record of achieving company targets and objectives, plus a MA in Political Science from Punjab University, a MSc in Economics from La Salle University, Louisiana, USA, and a BA in Economics from Kinnaird College for Women.

161 Comments

  1. More Reading?

    Reality Check – August 14th, 2009 Independence Day
    http://www.tkfr.com/?p=340

    July 27-August 6, 2010: Diary of a concerned citizen
    http://www.tkfr.com/?p=3380

    July 2010– Monsoon Rains hit Lahore early, (Pak Flood news logs as it evolves)
    http://www.tkfr.com/?p=3206

    Who’s really in charge here?
    http://www.tkfr.com/?p=2228

    Classic Whodunit murder mystery Pakistani-style
    http://www.tkfr.com/?p=2373

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  2. Indpendence Day: When I was Pakistani
    By Sabyn Javeri-Jillani
    Sunday, 15 Aug, 2010 | 05:21 AM PST |

    You may find this funny or you may think of it as simply tragic but when I was asked to reminisce about what I missed most after leaving Pakistan, my mind went blank. I thought back to my life in Karachi and the things that defined me as a Pakistani, and to my horror I realised that I grew up watching more MTV than PTV, looked forward to F.R.I.E.N.D.S instead of dramas, wore jeans and tees in place of shalwar kameez, ate burgers and chips not roti and chawal and yearned after Boy-bands instead of Bolly-boys. So why is it, that after 10 years of living abroad I am beginning to crave the very things I never had in the first place?

    Often these days I find myself longing for spicy biryani and haleem, googling Youtube in search of ghazals, and at times trekking half way across London to watch desi films. At such times it is the bomb blasts and general lawlessness of the old country that hold me back from jumping on to a PIA plane. As friends point out, it’s not Pakistan I miss but the Pakistaniness. How and when this change took place is a mystery to me. All I know is that one day, sitting silently in the clockwork traffic queues of UK, I found myself day dreaming about the crazy lawless driving of Karachi where the only rule is, Don’t Get Hit. I recalled fondly the street humour of Karachi life, the impulsive unexpectedness of life there which I used to find frustrating.

    http://www.dawn.com/wps/wcm/connect/dawn-content-library/dawn/in-paper-magazine/the-review/indpendence-day-when-i-was-pakistani-580

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  3. Past present: Loss of independence
    By Mubarak Ali
    Sunday, 15 Aug, 2010 | 05:10 AM PST |

    A review of the rise of the East India Company shows how it took advantage of the chaotic situation of the Indian subcontinent and acquired political domination slowly and steadily by interfering in the internal affairs of the local states. However, it emerged as a military power only after the battle of Buxer in 1764, when its forces managed to defeat the armies of the Mughal Emperor Shah Alam II, Shuja-ud-Daula (the Nawab of Awadh), and Mir Qasim, the defunct ruler of Bengal, who had already lost the right of revenue collection in his state.

    The Company, on the other hand, became financially strong by wrenching the right of revenue collection both in Bengal and Bihar. After the defeat, the Nawab was left with no choice but to sign a humiliating treaty with the Company. Finally, the Company defeated Tipu Sultan with the collaboration of the Nizam of Deccan and the Marathas. They subsequently crushed the latter and occupied Delhi in 1803, making the Mughal Emperor, in effect, a puppet ruler drawing pension from the Company.

    At this stage, it was easy for the Company to deal with the rest of the Indian states. Treaties were made with each state, taking over the foreign policy and defence in return for granting the respective ruler the freedom to govern internally. A Resident was posted in each state to supervise these rulers, who were allowed to live a life of debauchery and luxury, leaving their subjects to fend for themselves. Maladministration and mismanagement was tolerated as long as this posed no threat to the Company itself.

    http://www.dawn.com/wps/wcm/connect/dawn-content-library/dawn/in-paper-magazine/the-review/past-present-loss-of-independence-580

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  4. Double click: The Pakistani spirit
    Sunday, 15 Aug, 2010 | 09:47 AM PST |

    At every turn, there is misery and then more misery. In Pakistan, very little is left to celebrate, be proud of or to laugh about. The body count after the Islamabad plane crash hadn’t finished when the floods started their savage destruction across the country. It’s been the unleashing of fury like never seen before, surpassing even the destruction brought on by the 2005 earthquake. And the official reports on the floods state that the worst is not over yet. God only knows how the already suffering victims will bear another deluge.

    But dealing with misery seems to come instinctively to most Pakistanis. It’s been over two decades that our national lifestyle has adjusted to living in critical and challenging circumstances. If nothing, this nation has made a name by its amazing ability to ‘go on’ against every imaginable odd possible.

    We have withstood successively corrupt democracies; austere, abusive and moderate military regimes; looters as leaders and fools as politicians; ethnic blood baths and extreme poverty, besides the many natural and man-made disasters that continue to claim lives almost every day. Yet, we have never been seen to lose the verve to live, fight and even progress – however crudely we may do so.

    http://www.dawn.com/wps/wcm/connect/dawn-content-library/dawn/in-paper-magazine/magazine/the-pakistani-spirit-580

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  5. Off the rack: Woe and behold
    By Hilda Saeed
    Sunday, 15 Aug, 2010 | 05:21 AM PST |
    Welcome to the real world, with soaring inflation, endless misery, increasing poverty, obscene riches, bombing, terrorism, pollution, traffic accidents, water and food scarcity.…..How can we hope to emerge from this mess?

    Let’s forget for a while the never-ending political dance in Isloo and provincial capitals. Save for a few committed souls, the rest are … what exactly? Fake degree holders, jirga lovers, proponents of ‘sacrosanct’ marriage, despite the woman’s desperate need to escape from a violent, abusive and unequal relationship? The lofty objective of the Council of Islamic Ideology is to keep the national divorce rate low! There are even some VVIPs who favour the burial alive of ‘’stubborn’’ women.

    With its latest label, ‘failed state’, Pakistani planners are unable to decide on prioritisation: poverty, water and food supply, electricity blues, dead telephones, school and college admissions, or the crucial need to reduce unemployment.
    http://www.dawn.com/wps/wcm/connect/dawn-content-library/dawn/in-paper-magazine/the-review/off-the-rack-woe-and-behold-580

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  6. Sixty-three and down on our knees
    By Ardeshir Cowasjee
    Sunday, 15 Aug, 2010

    Cried Cassio in Shakespeare’s Othello: “Reputation, reputation, reputation! O, I have lost my reputation! I have lost the immortal part of myself, and what remains is bestial. My reputation, Iago, my reputation!”

    Later, in that great tragedy, arch-villain Iago provokes Othello: “Good name in man and woman, dear my lord, Is the immediate jewel of their souls: Who steals my purse steals trash; ’tis something, nothing; ’Twas mine, ’tis his, and has been slave to thousands; But he that filches from me my good name, Robs me of that which not enriches him, And makes me poor indeed.”

    This latter quote was passionately used by Benazir as prime minister, defending herself in the National Assembly in her second round on but one of the occasions during which she was subjected to allegations of corruption, due in no small part to the suspected misdeeds of her husband-minister.

    Now, many years later, the latest presidential capers have dragged Pakistan even deeper through the mud and surely put off to an even larger extent the already reluctant donors who keep it afloat.

    http://www.dawn.com/wps/wcm/connect/dawn-content-library/dawn/the-newspaper/columnists/ardeshir-cowasjee-sixty-three-and-down-on-our-knees-580

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  7. Mad in the middle
    By Nadeem F. Paracha
    Sunday, 15 Aug, 2010

    The political and social aspects of Islam in Pakistan can be seen as existing in and emerging from three distinct clusters of thought. These clusters represent the three variations of political and social Islam that have evolved in this country: i.e. modern, popular and conservative.

    The modern aspect of Islamic thought in Pakistan has its roots in the Aligarh Movement — the 19-century effort launched by Sir Syed Ahmed Khan. His analysis convinced him that the Muslims of India had failed to come to grips with the new zeitgeist emerging from the rise of western colonialism — a power driven by breakthroughs in modern scientific thought and economics, and pragmatic politics based on rational and dispassionate self-interest.

    http://www.dawn.com/wps/wcm/connect/dawn-content-library/dawn/the-newspaper/columnists/smokers-corner-mad-in-the-middle-580

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  8. Tough year ahead
    Dawn Editorial
    Sunday, 15 Aug, 2010

    Speaking yesterday on the 63rd anniversary of Pakistan’s independence, Prime Minister Yousuf Raza Gilani exhorted the nation: “The nation will confront the challenges as it did at the time of partition … This time too we shall succeed.” If only it were that simple. Quite simply, the federal government is failing the basic tests of governance, a fact that was becoming increasingly obvious even before the floods. To be sure, the present government has achieved a number of successes, some unprecedented: the 18th Amendment, the NFC award, the Gilgit-Baltistan autonomy package and the Balochistan package are notable examples. For this the efforts of the government must necessarily be acknowledged. But it is increasingly clear that the government is only able to deliver when some kind of political manoeuvring is involved. Beyond the bargaining and cajoling with elected representatives, in the real world — the world of governance, services delivery, policymaking and policy implementation — the government’s performance has been abysmal.

    http://www.dawn.com/wps/wcm/connect/dawn-content-library/dawn/the-newspaper/editorial/tough-year-ahead-580

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  9. The Long March Home
    1/6
    Sixty-three years ago, people struggled and fought for independence from the Indian subcontinent. Many survived to see their dreams turn into reality but thousands of others died on their way to achieving an independent Pakistan. The fight was bloody but crossing the border was even worse; families were separated and trains were set on fire as these new citizens crossed the border with little or no belongings. To remind us of the hardships our earlier generations faced, Dawn.com collaborates with the Citizens Archive of Pakistan (CAP) to showcase valuable images from the Partition. CAP is a non-profit, educational institute that seeks to preserve our history and heritage.

    http://www.dawn.com/wps/wcm/connect/dawn-content-library/dawn/news/media-gallery/17-The%20Long%20March%20Home-ek-01

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  10. What does it mean to be a Pakistani?
    1/12
    A month ago Dawn.com asked its readers to send in images and graphics that celebrate Pakistan and the national spirit – showcasing what it means to be a Pakistani and what symbols – other than our national flag – represent our identity. We received an overwhelming response; our inbox was inundated with pictures from across the country that captured not just the essence of Pakistan but also reminded us of the many talented Pakistanis. After much deliberation, we have selected twelve best images for this year’s media gallery on Independence Day.

    http://www.dawn.com/wps/wcm/connect/dawn-content-library/dawn/news/media-gallery/17-what+does+it+mean+to+be+a+pakistani-ek-01

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  11. Interesting comment by Ayesha Siddiqa – however, having a western lifestyle doesn’t necessarily mean that you are a less of a Muslim so saying Jinnah was westernized doesn’t negate the fact that he stood for equality, social justice and fair play – the hall marks of Islam. In other words, judging on appearance only and not examining his life, actions and beliefs is a pretty shallow way of looking at Jinnah and finding him wanting.

    Saving Jinnah’s Pakistan
    by Ayesha Siddiqa
    The Awami Jamhoori Party’s march to save “Jinnah’s Pakistan” is commendable. It denoted mobilisation of civil society against violence and intolerance. The procession ended at Data Darbar, which is considered a symbol of the country’s liberal Islamic ethos or culture of religious multi-polarity. But are we quite clear about whether this is the kind of liberal Islamic tradition that Jinnah and other founding leaders of Pakistan opted for?

    There was quite a bit of confusion regarding the type of religious ideology that the leaders thought was suited to the new state. According to renowned scholar Farzana Sheikh, whose latest book Making Sense of Pakistan adds to our knowledge of Pakistan’s polity, Iqbal and others did not prefer sufi Islam for the functioning of a modern Islamic state. For them, sufi Islam represented the traditional type which may be popular but was certainly not modern. In any case, Jinnah did not necessarily think deeply about the ideological and socio-political connotations of religion or using religion for nation-building. Much that some people may protest against the factual description of Jinnah’s personal habits, the fact of the matter is that he had a western lifestyle. Nevertheless, he created a state that defined citizenship on the basis of, what Sheikh argues, is the citizen’s putative relationship with religion.

    http://tribune.com.pk/story/39340/saving-jinnah%E2%80%99s-pakistan/

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  12. Carry your pride
    By Amna Khalique
    Saturday, 14 Aug, 2010
    “Jinnah supported the independence of women – now it’s your turn to show the world how brilliant Pakistani women are.” That’s the opening line on Mahin Hussiain’s blog about her first August 14 collection of women’s accessories which includes canvas handbags and cushions. Hussain, a relatively new entrant in the fashion industry, has been making a statement with each collection – be it purses or scarves. But her latest one speaks volumes, for it’s the first of its kind that celebrates the true Pakistani spirit and no, it isn’t exorbitantly priced.

    http://www.dawn.com/wps/wcm/connect/dawn-content-library/dawn/news/culture/35-carry-your-pride-ak-03

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  13. Partitioning India over lunch
    Memoirs of a British civil servant never seen in public until now show how much the partition of India was decided by just two men, the BBC’s Alastair Lawson reports.

    In a quiet village in the northern English county of Yorkshire, Robert Beaumont rifles through his father’s archives.

    The various and somewhat tatty pieces of paper he unearths are no ordinary collection of paternal memoirs.

    They are the thoughts and reflections of his father, Christopher Beaumont, who played a central role in the partition of India in 1947, which resulted in arguably the largest mass migration of peoples the world has ever seen.

    After the death in 1989 of Mountbatten’s Private Secretary, Sir George Abell, Beaumont was probably not exaggerating when he claimed to be the only person left who “knew the truth about partition”.

    http://news.bbc.co.uk/2/hi/south_asia/6926464.stm

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  14. Quaid’s view of minorities
    By I.A. Rehman
    Saturday, 14 Aug, 2010

    Quite a few groups and individuals wish to resurrect what they describe as Jinnah’s Pakistan. The argument in support of the effort is that decades of disregard for the Quaid-i-Azam’s vision of Pakistan has landed the country into one crisis after another and its future cannot be guaranteed without a return to its foundational premises.

    Although the Quaid’s views on Pakistan’s ideal (he usually avoided the expression ‘ideology’) have not escaped controversy, there is substantial agreement among historians and analysts that he stood for a constitution framed by none else than the representatives of the people, a system of government that he described as people’s democracy, and full citizenship rights for the minorities.

    http://www.dawn.com/wps/wcm/connect/dawn-content-library/dawn/the-newspaper/columnists/19-i-a-rehman-quaids-view-of-minorities-480-hh-09

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  15. comment: Punjab and the Pakistan movement
    by Malik Tariq Ali

    As Pakistan marks its 63rd anniversary, it faces a complete political disconnect between the ruling political elite and the people of Pakistan. This is not the Pakistan that had been envisioned by the founding fathers. Quaid-i-Azam Muhammad Ali Jinnah had very clearly defined the role of army and the civil bureaucracy, who were to serve the people. The Quaid had no tolerance for corruption and he led by example. Instead, the country has had a series of rulers, some elected, others self-imposed, who transformed this welfare state to a nation hostage to a nexus of corrupt individuals, who became billionaires overnight, while the country was driven to a state of bankruptcy and its institutions weakened. It is important to look back at how the state was created to understand just how far it has fallen.

    http://tribune.com.pk/story/39914/punjab-and-the-pakistan-movement/

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  16. Turning Despair on its Head: Very Smart. Very Nice. Very True.
    Adil Najam

    This new August 14 video from Zong is very well done. A very smart idea. Very well executed. And so very right in the message it conveys. Take a watch. Keep listening carefully, and if you know how to then read the text carefully. The magic lies there.

    Hope, after all, is just turning despair on its head.

    http://pakistaniat.com/2010/08/15/zong-august-14-hope/#more-14476

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  17. comment: SATURDAY, AUGUST 14, 2010

    Water on the Brain?
    You have to have a certain gift to so consistently put your foot in your mouth with unfortunate choices of metaphors.

    The office of the President of Pakistan has sent out an official message from him on the occasion of 14th August, which begins with the following words:

    http://cafepyala.blogspot.com/2010/08/water-on-brain.html

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  18. Reclaiming our pride
    BY DAWN.COM ON 08 13TH, 2010 | COMMENTS (87)

    With tragedies enveloping Pakistan since the past few weeks, this Independence Day the mood is somber. With millions affected by the flood and rendered homeless, scores killed in the recent violence in Karachi, the Airblue crash in Islamabad, civilian casualties along with sacrifices of the armed forces in the war against terror, August 14 is the day when we need to pause and reflect.

    http://blog.dawn.com/2010/08/13/reclaiming-our-pride/

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  19. comment: Why Muslims reject modernity
    Khaled Ahmed

    It is often said that Muslims in the 21st century have rejected modernity. What they are in fact rejecting is the process of suiting themselves to changing circumstances. There are two kinds of thinking: one that seeks to change in order to relate to times and one that seeks to change the world to suit its tenets. There are two ways principles can be formulated. One is to establish them on the basis of facts; the other, on the basis of doctrine. The latter necessitates coercion.
    In the 20th century Muslims embraced modernity by accepting the nation-state. In the 21st century they are rejecting the nation-state through a free-wheeling jihad. (Read Ayman Al Zawahiri’s 65-page rejectionist treatise on the Constitution of Pakistan: The Morning and the Lamp.) Their laws increasingly reflect this rejection. The ‘rational’ is being replaced by the ‘doctrinal’. And the popular furore against this or that foe is propelled by the urge to change the world to suit it to doctrine.

    http://tribune.com.pk/story/39367/why-muslims-reject-modernity/

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  20. Rise in trade deficit
    EDITORIAL (August 16 2010): The trade deficit of the country has risen sharply during the first month of FY11. According to the latest available data, it surged by about 24 percent to reach $1.457 billion in July, 2010 as compared to $1.171 billion in the same month last year.

    While exports rose by 21.83 percent to stand at $1.788 billion, as compared to $1.468 billion in the corresponding month of the previous financial year, imports depicted a higher growth of 22.7 percent to reach $3.24 billion from $2.64 billion in July last year. The trade balance during July, 2010, also worsened by 3.28 percent as compared to the previous month due to a decline of 1.73 percent in exports and a nominal increase of 0.45 percent in imports.

    http://www.brecorder.com/index.php?id=1091985&currPageNo=1&query=&search=&term=&supDate=

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  21. Industry deserves high priority in economic policy
    EDITORIAL (August 17 2010): A meeting of the Task Force on industrial policy was held in Islamabad on 12th August, wherein the Minister of State for Industries and Production reportedly emphasised the need to enhance the industrial share of the economy from 18 to 30 percent. Few would challenge the inherent economic logic behind this emphasis: the growth and consequently the development of nations has been closely associated with a developed industrial base.

    http://www.brecorder.com/index.php?id=1092561&currPageNo=1&query=&search=&term=&supDate=

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  22. A day of introspection
    EDITORIAL (August 14 2010): 14th August is the day of our independence. Ordinarily, it is the spirit of Independence Day that we should be celebrating. But placed as we are today amidst an apocalypse of dangerous, existential dimensions, we need to undertake introspection as to what is there to celebrate. Our failure is spectacular and we should try figure out why so.

    With some 15 million people displaced and their homes and farms destroyed by the devastating floods, we feel humbled by the vagaries of Nature. Day after day, we witness, helplessly, tens of thousands of our compatriots stranded on sandbars, hungry and exposed to the elements. The scene tends to turn bleaker as epidemics loom large. Sixty-three years ago on this day, we the Muslims of the Indian subcontinent, became a free people and an independent nation.

    http://www.brecorder.com/index.php?id=1091449&currPageNo=1&query=&search=&term=&supDate=

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  23. Pakistan’s July c/a deficit narrows to $635 million
    KARACHI: Pakistan’s current account deficit for July narrowed to a provisional $635 million, compared with $645 million in July last year, the central bank said on Tuesday.

    Pakistan recorded a provisional deficit of $441 million in June.

    The current account deficit for fiscal year 2009/10 was a provisional $3.945 billion, compared with $9.261 billion in fiscal year 2008/09.

    http://www.dawn.com/wps/wcm/connect/dawn-content-library/dawn/news/business/pakistans-july-ca-deficit-narrows-to-$635-million-jd-01

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  24. Impact of floods on exports: MoC yet to start assessment
    MUSHTAQ GHUMMAN
    ISLAMABAD (August 18 2010): The Commerce Ministry is yet to start assessment of floods’ impact on exports, which showed around 23 percent growth in July 2010. The Ministry is holding internal meetings to finalise the presentation on Trade Policy 2010-11 to be given to Prime Minister Yousaf Raza Gilani, probably next week.

    “All we know is that the flash-floods have caused wide spread damage to the crops, wheat stocks, livestock and communication system besides export industry in some parts of the country. It is understood that floods will impact exports, but it is too early to tell the exact hit,” sources said. They said that all agencies of the government, World Bank and Asian Development (ADB) are engaged in assessing the damage and, as soon as the report is finalised, the government would release the damage figures.

    http://www.brecorder.com/index.php?id=1093152&currPageNo=1&query=&search=&term=&supDate=

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  25. Yet another ineffective ‘patriotic’ song
    Saba Imtiaz

    EP’s new song “Shor Macha” falls into the same realm of vaguely patriotic messages that invoke people to ‘do something’.
    Following the Strings and Atif Aslam duet that released last month, “Ab Khud Kuch Karna Paray Ga”, comes “Shor Macha” by EP, a song that has been released to time with Pakistan’s 63rd Independence Day. With a video directed by the stellar Bilal Lashari, one would think it would have a concrete theme, given that Lashari directed the exceptional “Chal Bulleya” video for the Mekaal Hasan Band last year.

    http://tribune.com.pk/story/39334/yet-another-ineffective-%E2%80%98patriotic%E2%80%99-song/

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  26. comment: Foreign media-ocrity
    BY GUEST ON 08 18TH, 2010 | COMMENTS (25)

    “It’s such an exciting time to be in Pakistan.” This is a line one hears time and again from every new arrival of foreigners that lands at Islamabad airport. From the US Secretary of State, to the new foreign service employees at an international embassy, to the newest international media correspondent, Pakistan seems to be the new land of opportunity. Except that this opportunity doesn’t really work for us too much, considering we were declared the most dangerous country in the world last year and now, because of natural disasters, are at our absolute lowest point. Sadly, Pakistan is being mined by the rest of the world as an example of how good it can get when it gets really bad.

    http://blog.dawn.com/2010/08/18/foreign-media-ocrity/

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  27. Battered economy and enormous challenges
    By Khaleeq Kiani
    Monday, 16 Aug, 2010

    The worst-ever floods have ravaged the economy and badly disturbed the budgetary projections for the current fiscal year.

    According to US estimates, the number of people affected by massive floods exceeded 13 million – more than the combined total of the 2004 Indian Ocean tsunami, the 2005 Kashmir earthquake and the 2010 Haiti earthquake.

    While the exact damage assessment of the catastrophe and financial needs for recovery would take sometime, it has become quite clear that economic growth, particularly agriculture output would remain short of target by a wide margin.

    http://www.dawn.com/wps/wcm/connect/dawn-content-library/dawn/news/business/19-battered-economy-and-enormous-challenges-hh-18

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  28. Consensus reached on RGST implementation: Kaira
    ZAHEER ABBASI
    ISLAMABAD (August 20 2010): A high-level meeting presided over by Prime Minister Syed Yousuf Raza Gilani on Thursday decided to go ahead with the implementation of Reformed General Sales Tax (RGST) from October 1, 2010.

    http://www.brecorder.com/index.php?id=1093821&currPageNo=1&query=&search=&term=&supDate=

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  29. Non-performing loans of banks rise by Rs2.6b
    KARACHI: Non-performing loans of banks had risen by Rs2.6 billion during the second quarter of 2010 to Rs460 billion, according to data released by the State Bank of Pakistan. This was a significant drop in accretions as compared with the previous two quarters, according to JS Global Capital analysts.
    http://tribune.com.pk/story/41007/non-performing-loans-of-banks-rise-by-rs2-6b/

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  30. Govt’s move to drown country in ‘mega debt flood’: PML-N
    By Inamullah Khattak
    Saturday, 21 Aug, 2010

    ISLAMABAD: The Pakistan Muslim League-N has criticised the government’s move to borrow $3 billion for flood-affected people from the World Bank (WB) and Asian Development Bank (ADB) and said that adding to the external debt would sink the country in a ‘mega debt flood’.

    “The country’s total external debt currently stands at $55.6 billion and growing alarmingly at a rate of more than 43 per cent it will hit $73 billion in 2015-16,” PML-N Information Secretary Ahsan Iqbal said at a news conference here.

    He said his party would oppose the move in parliament because the debt-to-GDP ratio had crossed 61 per cent during the current fiscal year, breaching the 60 per cent limit set by parliament under the Fiscal Responsibility and Debt Limitation Act.

    http://www.dawn.com/wps/wcm/connect/dawn-content-library/dawn/the-newspaper/national/govts-move-to-drown-country-in-debt-flood-pmln-180

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  31. GDP shrinks by 2.5 percent
    AHMED MUKHTAR
    ISLAMABAD (August 21 2010): Pakistan’s GDP growth has shrunk by almost 2.5 percent and overall loss to assets is hovering around 6-8 percent of GDP, says an official. Pakistan had the target of 4.5 percent of GDP growth this year, after achieving 4.1 percent in 2009-10.

    “The loss of cotton crop is 2.9-3.5 million bales, as per recent estimates, while the rice crop has not been accurately assessed as yet, and the crop of sugarcane has also been heavily damaged,” an official of the Finance Ministry told Business Recorder.

    http://www.brecorder.com/index.php?id=1094136&currPageNo=1&query=&search=&term=&supDate=

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  32. Business community urged to step forward
    ISLAMABAD (August 21 2010): President Asif Ali Zardari urged the business community to step forward in a big way and complement government’s rescue, relief and rehabilitation efforts for millions of people affected by the unprecedented floods in the country. This he said during his meeting with the representatives of trade bodies, industries and chambers of commerce and industry at Aiwan-e-Sadr on Friday.

    The meeting was attended by more than 70 representatives of business and trade community and chambers of commerce. Finance Minister Dr Abdul Hafeez Sheikh, Defence Minister Ahmad Mukhtar, Salman Faruqui, Secretary-General to the President, Federal Secretaries and other senior government officials attended the meeting.

    http://www.brecorder.com/index.php?id=1094145&currPageNo=1&query=&search=&term=&supDate=

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  33. SM registers 4.84 percent growth in fiscal year 2010
    RECORDER REPORT
    KARACHI (August 21 2010): The Large Scale Manufacturing (LSM) posted a modest recovery of 4.84 percent growth during fiscal year 2009-10 because of re-entry of commercial banks in consumer financing and rising global demand. The performance of the manufacturing sector was very poor during fiscal year 2009, as it posted a negative growth of 8 percent followed by weakness in domestic demand, power shortages and deterioration in law & order situation.

    http://www.brecorder.com/index.php?id=1094187&currPageNo=1&query=&search=&term=&supDate=

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  34. comment: Fall Seven Times and Stand-Up Eight
    BY GUEST ON 08 21ST, 2010 | COMMENTS (4)

    Why is the international response so slow? Why do Pakistani’s around the world not trust its own government to responsibly collect funds and dispatch aid? Why aren’t more people helping? What can I do? Will anything I do make a difference, or is the situation so hopeless that we just sit back and watch Pakistan painfully try and resurrect itself from the realms of obliteration. Is there any hope, and if so what?

    Reflections and conversations of such nature pervade my mind, when for the few minutes I do allow myself to watch the footage of the catastrophic floods. It’s uncomfortable, it’s confronting, but at the same time I try and summon some sense from a disaster that is as unfathomable as it is unprecedented. I try and search for the reasons why sensibility and sympathy is conflicting with preconceived negative perceptions of Pakistan, which, in effect is hampering help so urgently required. I find myself thinking about the situations Pakistan has recovered from before, and how in Pakistan, when the going gets tough, they just get going. When I think about the current tragedy that has literally swept away the entire nation, I know that its people will rise against the tide of adversity because Pakistan knows, as the age old Japanese proverb goes, how to Fall Seven Times and Stand-Up Eight.

    http://blog.dawn.com/2010/08/21/fall-seven-times-and-stand-up-eight/

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  35. Catch the spirit
    BY ZERESH ON 08 21ST, 2010 | COMMENTS (12)
    It is an overwhelming feeling when people unite for a cause. When in an instant, strangers no longer remain strangers.

    In the last 10 days, I’ve seen Pakistan come together in ways never seen before. The Pakistani youth has risen and literally stepped out on the streets to help their countrymen affected by the flood. It is exhilarating to think about not what they are doing as volunteers but what they will become.

    With as many as 20 million people affected, roadside relief camps have sprouted up by the dozen in Karachi. Students have taken to the streets, donation boxes in tow, physically stopping cars, requesting people to contribute.

    http://blog.dawn.com/2010/08/21/catch-the-spirit/

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  36. comment: The implications of falling back on IMF credit

    By M. Sharif

    The country’s economic team is scheduled to meet the International Monetary Fund (IMF) officials on 23rd August in Washington, primarily for the release of the ongoing loan programme’s sixth tranche that is scheduled to mature by the end of this year. In the forthcoming weeks we will find out if the government will restructure the current loan programme or sign a new one to meet the increasing fiscal needs of the flood-affected areas. The epicenter of the IMF programme was to reduce fiscal deficit and inflation, improve balance of payments position and financially support three million people displaced by the security operations in northwestern region.

    http://jang.com.pk/thenews/aug2010-weekly/busrev-23-08-2010/p3.htm

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  37. Surging inflation and lacklustre growth

    By Ch. Kamran Naseer

    A strong and sustainable economic growth ensures high per capita income, improved standard of living, sufficient development and ultimately, the prosperity of a society and its citizens. This is primarily the reason why achieving balanced growth is considered imperative by policymakers and governments in most developed countries. Its significance is highlighted by the fact that during the fourth G20 summit in Toronto, Chinese President Hu Jintao in his speech entitled ‘Work in unity for the future’ said, “To ensure strong growth is the top priority in today’s world economic development.”

    A robust and steady economic growth depends on the performance of key macro-economic factors, such as inflation and interest rate.

    http://jang.com.pk/thenews/aug2010-weekly/busrev-23-08-2010/p11.htm

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  38. We’re looking at 0% GDP growth and 25% inflation

    Monday, August 23, 2010
    By Mehtab Haider
    ISLAMABAD: According to a highly dismal, but realistic assessment made by the Ministry of Finance, Pakistan’s economy is faced with 0% GDP growth and a galloping inflation of 25% in the financial year 2010-11, it was learnt.
    Prior to the floods devastation, a GDP growth target of 4.5% had been fixed while inflation was to be brought down to 9.5% from the current inflation rate of 12.3%. The report states that the wiping out of the 4.5% GDP growth target translates into a Rs751.5 billion loss to the economy.
    An official document, prepared by Economic Advisor’s Wing of Ministry of Finance under supervision of Principal Economic Advisor Sakib Sherani to assess the adverse impact of the ravaging floods, was also presented to top economic wizards led by Minister for Finance Dr Abdul Hafeez Sheikh. The report (a copy of which is exclusively available with The News) reveals that the initial first estimate (based on sketchy information to date from the field) on the impact of economic growth in 2010-11 suggests that overall GDP growth could be zero percent in real terms, i.e. a deviation of negative (-4.5%) from the target.
    The summary titled “Pakistan Floods 2010: A Preliminary Look at the Macroeconomic Impact” states that the unprecedented scale and magnitude of the devastation caused by the floods is going to leave a very substantial imprint on the economic landscape in the short as well as medium-term.
    http://www.thenews.com.pk/23-08-2010/National/673.htm

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  39. For whom the bell tolls
    “I tremble when I reflect that God is just and His justness cannot sleep forever”– Thomas Jefferson

    Six decades of Pakistan’s history bear testimony to the fact that each successive government — whether military or civil — has proved worse than its predecessor. There is an increasing sense of disillusionment, even despair, in the future of Pakistan.
    The recent stories of the fraudulent character of people’s representatives and their limitless greed at the expense of the poor citizens as reflected in the sugar and flour crises and the bogus degrees have made the common people frustrated, losing faith in their own land.
    Pakistan’s stock in the world community has never been so low. Today the country is alone and forlorn. No credible leader has visited Pakistan nor has any country time for us. Recently when the economy was melting down no one came to rescue and bale us out. The so called Friends of Pakistan did not show any sympathy.
    Pakistan was forced to accept humiliating terms of the IMF. The result is that the treasury is empty and the foreign debt has exceeded US $50 billion. The people continue to groan under the ever-increasing spiral of prices of essential goods.
    The devastating floods have proved to be the proverbial last straw.

    http://thenews.com.pk/24-08-2010/ethenews/e-771.htm

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  40. Europe, Mediterranean, Gulf, Far East routes: Indian shipping line to begin operations from Pakistan
    ISMAIL DILAWAR
    KARACHI (August 24 2010): For the first time in the history of Indo-Pak relations the Indian national flag carrier would start container shipping services from Pakistan from next month. The Shipping Corporation of India (SCI) has added Pakistan to its global network and would be commencing its container services from the neighbouring country to regions like Europe, Mediterranean, Gulf, Far East and India.

    http://www.brecorder.com/index.php?id=1095195&currPageNo=1&query=&search=&term=&supDate=

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  41. Rs two per litre increase in oil prices likely
    ZAFAR BHUTTA
    ISLAMABAD (August 24 2010): The government is expected to increase oil prices by 2 percent in line with hike in global oil prices effective from September 1, 2010. Sources revealed to the Business Recorder that the average impact of an increase in global oil prices would account for one to two percent rise domestically or up to Rs 2 per litre.

    http://www.brecorder.com/index.php?id=1095205&currPageNo=2&query=&search=&term=&supDate=

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  42. THE RUPEE: all-round gains
    RECORDER REPORT
    KARACHI (August 24 2010): All-round gains were seen on the local currency market on Monday on easy supply of dollars, dealers said. On the interbank market the rupee managed to gain five paisa at 85.60 and 85.65 in relation to dollar for buying and selling, moneychangers said. In first Asian trade US dollar held steady, retaining most of the gains it made late last week when growing worries about the global economy prompted investors to park funds in the world’s most liquid currency, while the Australian dollar slid on political uncertainty.

    http://www.brecorder.com/index.php?id=1095495&currPageNo=2&query=&search=&term=&supDate=

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  43. MoF intends to introduce Rs 10 and Rs 20 coins
    MUSHTAQ GHUMMAN
    ISLAMABAD (August 24 2010): Ministry of Finance intends to introduce coins of Rs 10 and Rs 20 as the cost of banknotes is higher than coins, well-informed sources told Business Recorder. Giving the background, the sources said, Finance Division proposed replacement of one, two and five rupee notes by one, two and five rupee coins. The cabinet, in its meeting on January 27, 1997 approved the proposal of the Finance Division.

    Subsequently, Finance Division submitted a summary to the cabinet to change the metallic composition of Re 1, Rs 2 and Rs 5 coins. However, the cabinet in its meeting on January 17, 2007, had decided to restore Rs 5 banknotes. Thus, now coins of Re 1 and Rs 2 denominations only are being minted/produced by Pakistan Mint. Coins of Rs 5 are also in circulation.

    http://www.brecorder.com/index.php?id=1095241&currPageNo=2&query=&search=&term=&supDate=

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  44. Expeditors Refund System: exporters not claiming refund due to misconceptions
    RECORDER REPORT
    ISLAMABAD (August 24 2010): The manufacturers-cum-exporters are reluctant to file sales tax refund claims electronically under the Expeditors Refund System (ERS) on the misconception that the taxpayers have to first clear pending claims before using ERS for tax period of July 2010.

    Sources told Business Recorder here on Monday that on an average 3,000 to 3,500 registered exporters are monthly filing refund claims under the manual system where Sales Tax Automated Refund Repository computer system’ (Starr) verifies the claims’ data. Out of these 3,500 refund claimants, around 300 to 350 registered manufacturers-cum-exporters of Lahore have tested the new system.
    http://www.brecorder.com/index.php?id=1095260&currPageNo=2&query=&search=&term=&supDate=

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  45. Assessing the losses caused by floods
    EDITORIAL (August 24 2010): Calculators are out for the performance of mathematical computations to assess the damage caused to the economy by the ongoing floods. A few days back, there were reports that the GDP would fall between 1.0 and 1.5 percent due to this catastrophe, but these estimates continue to be adjusted upwards with the worsening of the flood situation all over the country.

    http://www.brecorder.com/index.php?id=1095321&currPageNo=1&query=&search=&term=&supDate=

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  46. A gloomy prognosis
    EDITORIAL (August 24 2010): It appears that the system has suffered some convulsion, some delirium, and that it has fallen; that the fall has accelerated its end, according to the prognosis of Muttahida Qaumi Movement (MQM) chief Altaf Hussain. He has said openly what a lot of people are saying privately.

    http://www.brecorder.com/index.php?id=1095322&currPageNo=1&query=&search=&term=&supDate=

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  47. Talks with IMF on: Pakistan seeks release of $2.6bn
    By A Reporter
    Thursday, 26 Aug, 2010

    ISLAMABAD: Under immense pressure from the International Monetary Fund over failing to make any headway on implementation of reformed GST on services and reducing power subsidy, Pakistan economic managers are not sure if they can convince the Fund for combine release of last two tranches amounting $2.6 billion, official sources told Dawn on Wednesday.

    Sources said that the Pakistani delegation in the ongoing fifth review with the IMF at Washington was trying to convince the IMF Board to approve release of the two instalments $1.3 billion each in one-go.

    http://www.dawn.com/wps/wcm/connect/dawn-content-library/dawn/the-newspaper/business/talks-with-imf-on-pakistan-seeks-release-of-$2.6bn-680

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  48. IMF may ease existing loan terms
    By Anwar Iqbal
    Friday, 27 Aug, 2010

    WASHINGTON: The International Monetary Fund said on Thursday that besides easing the terms of an existing loan arrangement, the IMF was also considering more immediate measures to help Pakistan recover from mass flooding.

    “The floods have caused serious damage to infrastructure and changed the economic and fiscal outlook, and the IMF is assessing the impact on the budget, growth and inflation and what the appropriate response would be in that context,” the fund’s Deputy Director of External Relations Gerry Rice told reporters in Washington.

    http://www.dawn.com/wps/wcm/connect/dawn-content-library/dawn/the-newspaper/front-page/imf-may-ease-terms,-provide-emergency-assistance-780

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  49. Pakistan wants to stay with IMF program: Shaikh
    Friday, 27 Aug, 2010

    WASHINGTON: Pakistan wants to stay on track with its International Monetary Fund loan program and demonstrate its resolve to make tough economic decisions, Finance Minister Abdul Hafeez Shaikh said on Thursday.

    http://www.dawn.com/wps/wcm/connect/dawn-content-library/dawn/news/business/19-pakistan-wants-to-stay-with-imf-program-shaikh-hh-03

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  50. Govt raises Rs83bn in T-bill auctions
    By Shahid Iqbal
    Thursday, 26 Aug, 2010
    KARACHI: The government on Wednesday raised a huge amount of Rs83 billion through auctions of Treasury bills with slight change in the cut-off yield of benchmark 6-month tenure.

    The biggest attraction was 3-month t-bills as banks invested Rs67.761 billion for this tenure at the unchanged cut-off yield of 12.51 per cent.

    http://www.dawn.com/wps/wcm/connect/dawn-content-library/dawn/the-newspaper/business/govt-raises-rs83bn-in-tbill-auctions-680

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  51. US calls on companies to rebuild Pakistan
    Wednesday, 25 Aug, 2010

    WASHINGTON: The US ambassador to Pakistan on Wednesday encouraged US companies to invest in reconstruction of the country, saying it will have vast needs after its worst-ever floods.

    “Perhaps it’s a little insensitive to talk about this now, but I do want to mention that I think this will provide opportunities for American business as we try to build back better,” Ambassador Anne Patterson told companies.

    http://www.dawn.com/wps/wcm/connect/dawn-content-library/dawn/news/pakistan/06-us-calls-on-companies-to-rebuild-pakistan-rs-02

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  52. Minister urges for fast track progress on TAPI gas project
    Wednesday, 25 Aug, 2010

    ISLAMABAD: Federal Minister for Petroleum and Natural Resources Syed Naveed Qamar underlined the need for fast track progress on Turkmenistan-Afghanistan-Pakistan-India (TAPI) Gas pipeline Project.

    He said there was a need to put in place effective institutional mechanism for bilateral and multilateral progress on the matter.

    http://www.dawn.com/wps/wcm/connect/dawn-content-library/dawn/news/business/minister-urges-for-fast-track-progress-on-tapi-gas-pipeline-project-jd-03

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  53. Privatisation Commission mulling public offerings
    By Amin Ahmed
    Wednesday, 25 Aug, 2010

    ISLAMABAD: The Privatisation Commission is considering raising extra funds for the government from State-owned Entities (SoEs) through equity linked financial instruments.

    For this purpose, entities like OGDCL and PPL were under active consideration of the government, Federal Minister for Privatisation Waqar Ahmad Khan said here on Tuesday.

    Speaking to newsmen, he said that the Privatisation Commission had earmarked Rs200 million for flood relief in addition to the contributions out of salaries as per government directions.

    http://www.dawn.com/wps/wcm/connect/dawn-content-library/dawn/the-newspaper/business/pc-mulling-public-offerings-580

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  54. Repatriation of forex up by 10pc in July
    By Shahid Iqbal
    Tuesday, 24 Aug, 2010

    KARACHI: The repatriation of foreign exchange in the form of profit and dividend has increased by 10 per cent during the first month (July) of the new fiscal year.

    The State Bank reported on Monday that the outflow in July was 10 per cent higher than the corresponding period of last year. The outflow was $62.1 million compared to $56.5 million during July, 2009.During this period the foreign direct investment also fell sharply, which was an outcome of disturbing economic, political and deteriorating law and order situation.

    http://www.dawn.com/wps/wcm/connect/dawn-content-library/dawn/the-newspaper/business/repatriation-of-forex-up-by-10pc-in-july-480

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  55. IMF exploring ‘all options’
    WASHINGTON (August 27 2010): The IMF said Thursday it was exploring all avenues to help flood-battered Pakistan amid extensive talks over possible easing of terms of a current 11-billion-dollar loan facility. “We’re looking at all options in terms of how we can assist Pakistan in the midst of this tragedy,” said International Monetary Fund spokesman Gerry Rice, raising also the spectre of an emergency loan to help it cope with the crisis.

    http://www.brecorder.com/index.php?id=1096293&currPageNo=1&query=&search=&term=&supDate=

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  56. Credit rating ‘not immediately affected’: S&P
    WASHINGTON (August 27 2010): Standard & Poor’s said Thursday that flood-hit Pakistan’s sovereign credit rating would not be immediately impacted, expressing confidence the IMF would ease loan financing terms to the nation. “Financial support from the international community should ensure that the sovereign’s credit metrics remain commensurate with the rating in the short term,” S&P said in a statement. Pakistan’s “B-/Stable/C” rating “is not immediately affected by large-scale flooding in the country,” it said.

    http://www.brecorder.com/index.php?id=1096304&currPageNo=1&query=&search=&term=&supDate=

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  57. IMF agrees to release installment

    ISLAMABAD: The International Monetary Fund (IMF) has agreed to release the next instalment of $1.2 billion of the Standby Arrangement Programme. The decision followed assurances over the implementation of reformed General Sales Tax (GST) from October 1.
    However, a final decision on the release of the loan tranche will be taken later by the IMF Board.
    The Fund has also agreed to relax some of the economic targets previously set for fiscal 2010-11, according to a senior member of the Pakistani delegation. This includes a further reduction in the tax collection target from Rs1,604 billion earlier proposed by the Federal Board of Revenue, according to sources.

    http://tribune.com.pk/story/43269/imf-agrees-to-release-installment/

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  58. The secular ideal
    By Irfan Husain
    Saturday, 28 Aug, 2010

    Recently, a reader — clearly more concerned with Pakistan’s welfare than mine — suggested that I set up a political party with the avowed goal of establishing a secular dispensation in the country.

    http://www.dawn.com/wps/wcm/connect/dawn-content-library/dawn/the-newspaper/columnists/irfan-husain-the-secular-ideal-880

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  59. Economic decisions taken by cabinet ignored
    By Khaleeq Kiani
    Monday, 30 Aug, 2010

    ISLAMABAD: With the government focussing on political issues, economic decision-making appears to have taken a back seat, leading to non-implementation of key policy initiatives needed to solve severe economic problems.

    Background discussions with officials and economic managers suggest that in many cases major policy decisions taken by Prime Minister Yousuf Raza Gilani have either been overturned by his powerful cabinet colleagues or are not being implemented by government agencies.

    http://www.dawn.com/wps/wcm/connect/dawn-content-library/dawn/the-newspaper/front-page/economic-decisions-taken-by-cabinet-ignored-080

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  60. IMF insists on tax, energy reforms
    By Anwar Iqbal
    Tuesday, 31 Aug, 2010

    WASHINGTON: The International Monetary Fund continues to insist on more tax and energy sector reforms within the current fiscal year, despite its concerns about the impact of the 2010 flood on Pakistan’s economy, officials say.

    http://www.dawn.com/wps/wcm/connect/dawn-content-library/dawn/the-newspaper/front-page/imf-insists-on-tax,-energy-reforms-180

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  61. New policy unveiled: Sunflower, canola procurement price fixed
    By Our Reporter
    Tuesday, 31 Aug, 2010

    ISLAMABAD: Federal Minister for Food and Agriculture Nazar Mohammad Gondal on Monday announced Rs1,800 per 40 kg procurement price for canola and sunflower and set a target of one million acres of land to be utilised for sowing the two crops in the flood-affected areas.

    http://www.dawn.com/wps/wcm/connect/dawn-content-library/dawn/the-newspaper/business/new-policy-unveiled-sunflower,-canola-procurement-price-fixed-180

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  62. Banking spread shoots up to 7.6pc
    By Shahid Iqbal
    Tuesday, 31 Aug, 2010

    KARACHI: The half yearly report showed that banks have increased their profitability despite poor performance of economy but they earned by keeping most of the profits at the cost of depositors.

    The latest information provided by the State Bank showed that the banking spread has sharply increased to 7.6 per cent in July, which was 16-month high. Higher banking spread means banks get more while depositors get less return on their deposits.

    http://www.dawn.com/wps/wcm/connect/dawn-content-library/dawn/the-newspaper/business/banking-spread-shoots-up-to-7.6pc-180

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  63. Govt likely to seek moratorium on IMF loan
    By Khaleeq Kiani
    Tuesday, 31 Aug, 2010

    ISLAMABAD: The government is considering to seek from the International Monetary Fund (IMF) a one-year moratorium on a $1.2 billion repayment due during the current fiscal year in view of the financial pressures caused by floods.

    http://www.dawn.com/wps/wcm/connect/dawn-content-library/dawn/the-newspaper/front-page/06-govt-likely-to-seek-moratorium-on-imf-loan-180-rs-08

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  64. Proposal to impose ‘flood surcharge’ shelved
    By Kalbe Ali
    Sunday, 29 Aug, 2010

    ISLAMABAD: The proposal to impose ‘flood surcharge,’ has been put on hold by the finance ministry for the time being after the government failed to muster political support for the move.

    http://www.dawn.com/wps/wcm/connect/dawn-content-library/dawn/the-newspaper/national/proposal-to-impose-flood-surcharge-shelved-980

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  65. SECP comes to Karachi Stock Exchange’s rescue
    By Dilawar Hussain
    Tuesday, 31 Aug, 2010

    Karachi: An emergent meeting has been called by the Securities and Exchange Commission of Pakistan (SECP) at mid-day on Tuesday in the apex regulator’s Karachi offices, where talks are supposed to be held between the chief regulator and the broker directors on the Board and management of the Karachi Stock Exchange, reports reaching here late at night said. However, those could not be independently verified as no responsible person attended to calls at that unearthly hour.

    http://www.dawn.com/wps/wcm/connect/dawn-content-library/dawn/the-newspaper/business/secp-comes-to-kses-rescue-180

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  66. India may benefit from cotton crop failure in Pakistan
    Thursday, 26 Aug, 2010

    MUMBAI: Pakistan’s devastating floods may have destroyed up to a fifth of the country’s cotton crop, analysts say, handing an opportunity to exporters in neighbouring India who are eyeing the shortfall.

    Indian producers will seek to take advantage of a government decision last week to lift a ban on exports to help meet demand from Pakistan’s textile industry. The restriction was imposed in April to keep domestic prices down.

    http://www.dawn.com/wps/wcm/connect/dawn-content-library/dawn/the-newspaper/business/india-may-benefit-from-cotton-crop-failure-in-pakistan-680

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  67. World Bank team to arrive in September
    ISLAMABAD: A World Bank (WB) delegation, headed by Carlos Silvani, is expected to arrive in Pakistan on September 14 for a 15-day visit.
    The upcoming imposition of the reformed General Sales Tax (GST) on October 1 and the Tax Administration Reforms Programme (Tarp) will come under review during the delegation’s discussions with the Federal Board of Revenue (FBR).

    http://tribune.com.pk/story/44583/world-bank-team-to-arrive-in-september/

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  68. 71% rice crop destroyed in Khyber-Pakhtunkhwa
    August 29, 2010
    ISLAMABAD: For a province battered by one of the most devastating natural calamities in recent memory, the ordeal is not over yet.
    The Food and Agriculture Organisation of the United Nations has released a damage assessment report of the agriculture sector in Khyber-Pakhtunkhwa.
    http://tribune.com.pk/story/43993/71-rice-crop-destroyed-in-khyber-pakhtunkhwa/

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  69. Multinational companies, others: distributors reluctant to pay one percent turnover tax
    SOHAIL SARFRAZ
    ISLAMABAD (August 31 2010): Distributors of multinational companies and pharmaceutical sector etc making annual turnover in billions are reluctant to pay one percent turnover tax, reflecting highest level of non-compliance by rich class earning huge profits on monthly basis.

    http://www.brecorder.com/index.php?id=1097780&currPageNo=1&query=&search=&term=&supDate=

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  70. Floods slow growth, raise inflation: Gilani
    Wednesday, 01 Sep, 2010

    ISLAMABAD: Pakistan’s economic growth will plunge two percentage points because of the floods and lead to ”massive” job losses, the prime minister warned Wednesday in a speech that predicted a grim couple of years for the already fragile country.
    Yousuf Raza Gilani said one-fifth of the country’s irrigation infrastructure, livestock and crops had been destroyed.

    http://www.dawn.com/wps/wcm/connect/dawn-content-library/dawn/news/pakistan/03-floods-slow-growth-raise-inflation-gilani-ss-05

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  71. Kerosene and diesel prices increased
    By Our Staff Reporter
    Wednesday, 01 Sep, 2010

    ISLAMABAD: The Oil and Gas Regulatory Authority (Ogra) increased on Tuesday prices of three petroleum products — kerosene, high speed diesel and light diesel oil — by up to 2.2 per cent and reduced by 0.7 per cent the prices of petrol and high octane blending component (HOBC).

    http://www.dawn.com/wps/wcm/connect/dawn-content-library/dawn/the-newspaper/front-page/kerosene-and-diesel-prices-increased-190

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  72. Flood loss estimates rise to $43bn: PM
    By Ahmad Hassan
    Thursday, 02 Sep, 2010

    ISLAMABAD: The federal cabinet was informed on Wednesday that economic losses inflicted by the floods were estimated at $43 billion, almost equal to the expenditures incurred on the war on terror over the past nine years.

    The floods have affected 79 of the 124 districts — 24 in Khyber Pakhtunkhwa, 19 in Sindh, 12 in Punjab, 10 in Balochistan and seven each in Azad Kashmir and Gilgit-Baltistan.

    http://www.dawn.com/wps/wcm/connect/dawn-content-library/dawn/the-newspaper/front-page/inflation-spike,-job-losses-feared-flood-loss-estimates-rise-to-$43bn-pm-290

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  73. World Bank, IMF agree to give $550m
    By Anwar Iqbal
    Friday, 03 Sep, 2010

    WASHINGTON: The International Monetary Fund and the World Bank have agreed to jointly provide more aid to flood-hit Pakistan during the current fiscal year but both also insisted that the country needed to continue its economic reforms, officials said on Thursday.

    http://www.dawn.com/wps/wcm/connect/dawn-content-library/dawn/the-newspaper/front-page/world-bank,-imf-agree-to-give-$550m-390

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  74. Who benefits by higher interest rates?
    BY MURTAZA HAIDER ON 09 3RD, 2010 | COMMENT (1)

    An interesting public debate has started between two economists, Paul Krugman and Raghuram Rajan. The debate being that Krugman wants the interest rates to be kept low whereas Rajan wants them to be raised gradually.

    Both Krugman and Rajan are economists of international repute. Rajan was the former chief economist of the Internal Monetary Fund and is currently a professor of economics at the University of Chicago. A native of Bhopal, India, Rajan has a doctorate in economics Massachusetts Institute of Technology and has authored the book Saving Capitalism from the Capitalists.

    http://blog.dawn.com/2010/09/03/who-benefits-by-higher-interest-rates/

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  75. Economy on the edge of precipice, says minister
    By Khaleeq Kiani
    Monday, 06 Sep, 2010

    ISLAMABAD: Finance Minister Dr Hafeez Sheikh has made an impassioned appeal to the federal and provincial governments and military authorities to demonstrate highest level of fiscal responsibility in order to avert a ‘complete economic breakdown’.

    http://www.dawn.com/wps/wcm/connect/dawn-content-library/dawn/the-newspaper/front-page/economy-on-the-edge-of-precipice,-says-minister-690

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  76. US, FoDP investments linked to reforms
    By Our Staff Reporter
    Tuesday, 07 Sep, 2010

    ISLAMABAD: The United States and the Friends of Democratic Pakistan (FoDP) have linked their investments in Pakistan’s energy, reconstruction and water sectors to implementation of key reforms to achieve self-sufficiency in the areas in a three-year transition period.

    http://www.dawn.com/wps/wcm/connect/dawn-content-library/dawn/the-newspaper/front-page/us,-fodp-investments-linked-to-reforms-790

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  77. Shahid Kardar tipped as SBP governor
    By Khaleeq Kiani
    Tuesday, 07 Sep, 2010

    ISLAMABAD: Shahid H. Kardar, a former finance minister of Punjab during early years of Gen Musharraf’s rule, has emerged as a strong candidate for the post of governor of State Bank. The post has been lying vacant for more than three months, triggering a legal issue.

    http://www.dawn.com/wps/wcm/connect/dawn-content-library/dawn/the-newspaper/front-page/shahid-kardar-tipped-as-sbp-governor-790

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  78. comment: Economy: on the verge of collapse?
    Dawn Editorial
    Tuesday, 07 Sep, 2010

    Finance Minister Hafeez Sheikh’s warning to officials of the state, delivered in a sombre meeting late last month, could not be clearer: the government, federal and provincial, is on the verge of financial collapse. So dire is the state of affairs that the government may not have money to pay salaries in a few months. Lest this be dismissed as hyperbole, Mr Sheikh’s comments have been echoed privately by many economists and experts familiar with state finances in recent weeks. In fact, if anything the finance minister’s comments are on the more optimistic side of dire.

    http://www.dawn.com/wps/wcm/connect/dawn-content-library/dawn/the-newspaper/editorial/economy-on-the-verge-of-collapse-790

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  79. comment: Evading Reform?
    BY SHUJAAT ALI KHAN ON 09 7TH, 2010 | NO COMMENTS

    Recently, there have been talks about a one-time ‘flood tax’ being considered by the Government of Pakistan. If approved, among other measures, it would entail increasing the income tax bill of individuals whose annual income exceeds Rs. 300,000 by 10 per cent. The tax is essential for providing the government with the required revenues to undertake reconstruction projects and to facilitate the desperately needed income redistribution, which is necessitated by the ever growing income divide between the rich and the poor. However, in face of a monumental crisis, does this measure in itself have the capacity to achieve these goals? More importantly, in the midst of the current crisis, is this a step in the right direction or is it just another short-term relief measure that would allow the government to evade the much needed tax reforms? To answer these questions one has to understand the economic implications of taxes.

    http://blog.dawn.com/2010/09/07/evading-reform/

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  80. comment: Debt, debt and more debt
    The IMF has announced to provide $450 million to Pakistan under emergency assistance for the rehabilitation and reconstruction of flood-hit areas. The World Bank and the Asian Development Bank (ADB) have also offered $1 billion and $2 billion respectively, for the same purpose. Thus, the three International Financial Institutions (IFIs) together would provide almost $3.5 billion to Pakistan as loan in the shortest possible time. The international community has also pledged about a billion dollar assistance for the flood-affected areas. Some of the pledges would be in cash and some in kind. The pledge in the shape of cash would mostly be in terms of soft loan.
    It appears that the current finance minister has entered a race with the former finance minister in terms of drowning the country under debt. The former finance minister remained at the helm of affairs for 16 months and signed an over $11 billion assistance package with the IMF, of which $8.7 billion has been disbursed. The current finance minister has had the privilege to borrow $3.5 billion in just four months of his stay. With this speed he will definitely outpace his predecessor in accumulating debt.

    http://www.thenews.com.pk/07-09-2010/Opinion/3506.htm

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  81. comment: Rebellion in the fact-free zone
    The dangers of having a national discourse that is based largely on the motley assertions, emotions and ideologies of those that can scream loudest should be self-evident. Instead of decision-making that is based on facts, society ends up making decisions that are based on narrow self-interests of the ones with the microphone. Instead of learning from past experience, on data from 63 years of rich experience, there’s a repetition of mistakes, over and over and over again. Instead of evidence, we allow our decisions to be based on whatever makes us feel better. Instead of reality, we are bulldozed into doing things based on mythology. The costs of living in a fact-free zone are very, very high. Still we persist.

    http://www.thenews.com.pk/07-09-2010/Opinion/3507.htm

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  82. FBR may adopt RGST from October 1: no decision on one-year postponement yet
    RECORDER REPORT
    ISLAMABAD (September 07 2010): The Federal Board of Revenue (FBR) will be in a position to introduce ‘reformed general sales tax’ (RGST) from October 1, 2010 in case all four provinces agree on a uniform formula on sales tax collection from services sector. Official sources told Business Recorder here on Monday that the government has not yet decided to postpone the ‘reformed GST’ for another year, or so.

    http://www.brecorder.com/index.php?id=1100434&currPageNo=1&query=&search=&term=&supDate=

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  83. We have to ‘drastically’ cut expenditure: Prime Minister
    ISLAMABAD (September 07 2010): Prime Minister Syed Yousuf Raza Gilani on Monday called for collective efforts to rehabilitate the flood affected people by rising above political affiliations and assured transparency and “zero tolerance” in collection and distribution of donations.

    http://www.brecorder.com/index.php?id=1100514&currPageNo=1&query=&search=&term=&supDate=

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  84. Pakistan seeks Sri Lanka, Haiti-like trade deals: high level team leaves for Europe
    MUSHTAQ GHUMMAN
    ISLAMABAD (September 07 2010): Pakistan has dispatched a high level delegation to Europe to seek the same trade deals as extended to Sri Lanka and Haiti in the aftermath of their natural disasters, official sources told Business Recorder. Analysts say that the country has suffered Rs 350 billion – Rs 500 billion ($4-6 billion) damage to infrastructure, livestock, and crops.

    http://www.brecorder.com/index.php?id=1100451&currPageNo=2&query=&search=&term=&supDate=

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  85. IMF sets four criteria for $2.6bn loan tranches
    By Khaleeq Kiani
    Wednesday, 08 Sep, 2010

    ISLAMABAD: The International Monetary Fund has set four pre-conditions for continuing with Pakistan’s $11.3 billion standby arrangement (SBA) and withheld the release of two remaining tranches of $2.6 billion till the government meets the criteria.

    http://www.dawn.com/wps/wcm/connect/dawn-content-library/dawn/the-newspaper/front-page/imf-sets-four-criteria-for-$2.6bn-loan-tranches-890

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  86. comment: I choose optimism
    Omar Bilal Akhtar
    I don’t think I’ve ever seen the mood of the country like this before. All the times we’ve gathered around our living rooms and heard the elders tell us how the country was going to the dogs, we shrugged it off, dismissing it as the moaning and complaining of a past generation. Now, maybe for the first time, some of us actually believe that our parents are right. Pakistan is collapsing. Get out while you can.

    http://tribune.com.pk/story/48131/i-choose-optimism/

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  87. Confronting hypocrisy
    By Mohsin Hamid
    Monday, 13 Sep, 2010

    The spot-fixing scandal has broken my heart. I’m a die-hard Pakistan cricket fan. Yes, I’d long heard about the corruption in our team, including by some of our greatest players in the 1990s. But I never wanted to believe it.

    So when I saw the no-ball video evidence last month, it shook me. I was disgusted by our players, and even more so by the Pakistan Cricket Board. Whether or not anyone is convicted of a crime, if the video wasn’t a fake (and there’s no reason to think it was), then it and the horrifying behaviour of our officials in response are all I need to be convinced that our national cricket administration is rotten to the core.

    http://www.dawn.com/wps/wcm/connect/dawn-content-library/dawn/the-newspaper/op-ed-contributor/confronting-hypocrisy-090

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  88. Trade-linked aid to Pakistan tops Europe talks
    Saturday, 11 Sep, 2010

    BRUSSELS: Europe is likely to offer trade-linked aid to help Pakistan battle flood devastation and fears of rising extremism at an EU summit next week, diplomatic sources said Saturday.

    Hosting a two-day informal parley of foreign ministers from the 27-nation bloc, EU diplomatic supremo Catherine Ashton said Pakistan needed wide support —ranging through aid, institution-building, anti-terror assistance, reconstruction and trade.
    http://www.dawn.com/wps/wcm/connect/dawn-content-library/dawn/news/business/12-trade-linked+aid+to+pakistan+tops+europe+talks–bi-01

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  89. Changing Times
    BY FAZAL KHAN ON 09 14TH, 2010 | COMMENT (1)

    These days just about everyone in California knows Pakistan, well at least in Southern California where I’ve lived for the past 13 years. When I tell people I’m from Pakistan I often hear responses like, “Pakistan? Isn’t that where Bin Laden is hiding? I hope your family is safe!” Or “Pakistan? Oh that’s where the flood happened isn’t it. Is your family safe?” And my personal favourite as of late, “Pakistan? Wasn’t there something about a gambling scandal with the cricket team?”

    http://blog.dawn.com/2010/09/14/changing-times/

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  90. Pakistan Equities Climb as Regulator Approves Proposal for Margin Trading
    By Farhan Sharif – Sep 16, 2010 10:39 AM GMT+0500

    Pakistan’s benchmark stock index rose, on course for its highest in almost eight weeks, after the regulator agreed to allow investors to fund transactions with money borrowed from brokers and financial institutions.

    http://www.bloomberg.com/news/2010-09-16/pakistan-equities-climb-as-regulator-approves-proposal-for-margin-trading.html

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  91. Govt asked to stop paying foreign debts

    * More than 30 parties to take out rally to garner support for loans write-off campaign

    Staff Report

    LAHORE: The Labour Relief Campaign (LRC), an alliance of more than 30 progressive political parties and social welfare organisations, has asked the government not to pay foreign debts as the country was facing the worst natural disaster.

    The LRC representatives pointed out that the Pakistan People’s Party (PPP) government could grab a golden opportunity by getting the foreign debts written off, as the heavy interest payments were the main reason of inflation in Pakistan.

    http://www.dailytimes.com.pk/default.asp?page=2010\09\18\story_18-9-2010_pg7_15

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  92. Govt assures IMF of imposing flood tax

    * GDP growth to fall below target of 4.5%

    * Federal budget to be revised and submitted for approval to cabinet

    By Sajid Chaudhry

    ISLAMABAD: The country’s economic managers have committed with the International Monetary Fund (IMF) that the government will introduce a temporary 10 percent income tax surcharge to generate domestic resources to meet flood expenditures.

    IMF authorities have been informed that the floods will have economic and budgetary impact and the Gross Domestic Product (GDP) growth targeted 4.5 percent will be missed and GDP growth is expected to be 2.5 percent to three percent this year.

    http://www.dailytimes.com.pk/default.asp?page=2010\09\18\story_18-9-2010_pg7_5

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  93. External financing needed urgently: IMF informed
    ZAHEER ABBASI
    ISLAMABAD (September 18 2010): Pakistan has informed the International Monetary Fund (IMF) that it would require external financing on an emergency basis preferably in the form of budgetary support as domestic efforts, inclusive of introduction of a 10 percent temporary income tax surcharge and shifting non-priority current and development resources to meet rehabilitation and reconstruction would not be sufficient.
    http://www.brecorder.com/index.php?id=1103310&currPageNo=1&query=&search=&term=&supDate=

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  94. 40.1 percent decline in foreign investment
    RECORDER REPORT
    KARACHI (September 18 2010): The country failed to effect improvement in foreign investment due to poor law and order situation and negative economic indicators and foreign investment declined by 40.1 percent during first two months (July and Aug) of the current fiscal year 2010-11.

    http://www.brecorder.com/index.php?id=1103293&currPageNo=1&query=&search=&term=&supDate=

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  95. Foreign investors: Prime Minister allows two-year visa facility
    WASIM IQBAL
    ISLAMABAD (September 18 2010): Setting aside all security concerns, Prime Minister Yousaf Raza Gilani approved the summary for granting a two-year business visa facility to all foreign investors. Board of Investment Chairman Saleem Mandviwalla told Business Recorder, “We gave the option to Prime Minister of two or three years, and everyone agreed on two years; we will review next year and, maybe, extend it to three years”.
    http://www.brecorder.com/index.php?id=1103296&currPageNo=1&query=&search=&term=&supDate=

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  96. Millennium Development Goals Report 2010

    Country fails to achieve major goals

    * Sluggish economic growth one of the main reasons of failure

    Staff Report

    ISLAMABAD: Pakistan Millennium Development Goals Report 2010 launched here on Friday indicated that the country has failed to achieve its goals due to slow economic growth, severe energy crises, socio-political problems, security issues, war on terror and recent flood in the country.

    http://www.dailytimes.com.pk/default.asp?page=2010\09\18\story_18-9-2010_pg5_12

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  97. comment: Pursuing more growth in an uncertain world
    Robert B Zoellick

    The drive to overcome extreme poverty and hunger has been at the heart of global efforts to achieve the Millennium Development Goals since their adoption a decade ago. Up until the food, fuel, and financial crises in the last two years, developing countries were making progress in reaching this goal, although at different paces. The food crisis of 2008 may seem to be past. But it has not gone away. For the first time in history more than one billion people go to bed hungry each night.
    http://tribune.com.pk/story/51268/pursuing-more-growth-in-an-uncertain-world/

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  98. hmmm – here’s another interesting article on secularism vs. organized religion debate that’s quietly being argued by the intellectuals in the Pakistani press. So far, I have read IA Rehman, Anas Abbas, Ayesha Siddiqa (and I am not sure but I think Irfan Husain also) on the subject, not to mention various friends on face book, discussing the so-called positives of secularism…

    The lady doesn’t come out and say it exactly that Pakistan should be secular too like France, but she implies it. Do as the French do? (The implication being, Go the secular way)…

    comment: Do as the French do
    Zara Barlas

    Numerous criticisms have emerged on the issue of France’s decision to ban the full-face veil, particularly focused on how this move is targeting Muslims. “Why don’t they ban the head-dress worn by nuns too?” — a question asked repeatedly by Muslims insulted by the French parliament’s new legislation.

    The crucial point appears to have been misunderstood. Nuns do not cover their faces, only their heads. And in France, while the full-face veil is being banned, it is not forbidden for a woman to cover her head, regardless of whether she is Muslim, Christian or atheist. Indeed the banning of headscarves has been implemented in primary and secondary schools in France, but this is part of the wider law that bans the wearing of all types of conspicuous religious symbols, and not just those associated with Islam. This, then, indicates France’s enjoyment of its secularist status — something that it has a right to do.

    http://tribune.com.pk/story/51272/do-as-the-french-do/

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  99. Petrol prices likely to be deregulated
    By Khaleeq Kiani
    Monday, 20 Sep, 2010

    ISLAMABAD: With Punjab and remote areas in other provinces facing a severe shortage of petrol, mainly because of transportation problems and lack of storage, the government is expected to deregulate oil pricing on Tuesday and allow refineries to fix prices of petroleum products, except diesel, to improve their financial position.

    http://www.dawn.com/wps/wcm/connect/dawn-content-library/dawn/the-newspaper/front-page/refineries-may-be-allowed-to-fix-prices-petrol-prices-likely-to-be-deregulated-090

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  100. IMF sees Pakistan inflation accelerating to 13.5 pct
    Wednesday, 22 Sep, 2010

    KARACHI: Inflation in Pakistan is expected to accelerate to 13.5 per cent this year as massive summer floods push up prices for food and other staples, the International Monetary Fund said in its country report.

    Prior to the disaster, the IMF had projected average inflation for the current 2010/11 fiscal year at 11.5 per cent, slightly below the 11.7 per cent seen last year.
    http://www.dawn.com/wps/wcm/connect/dawn-content-library/dawn/news/business/04-imf-pakistan-inflation-qs-05

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  101. Eighty-Two Percent (82%) Of Pakistani Men And Women Believe Their Country Will Not Sink But Swim Out Stronger From The Tragedy Of Floods

    According to a Gilani Research Foundation survey carried out by Gallup Pakistan, majority (82%) of all Pakistanis believe their country will not sink but swim out stronger from the tragedy of floods while only 9% have a pessimistic approach. 9% did not give any response.

    http://galluppakistan.blogspot.com/2010/09/eid-mubarak-to-resilient-pakistan.html

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  102. interesting rebuttal to Zara Barlas’s article – Do as the French Do….

    Why do as the French do?
    AA Sheikh
    The very day French parliamentarians endorsed their president’s controversial burqa ban, their foreign minister urged Pakistan to do more to help the war in Afghanistan. Bernard Kouchner claimed that Pakistan was giving shelter to Taliban leaders. “Everyone knows that Mullah Omar is in Quetta,” he remarked sagaciously, “if he’s not in Karachi.” Actually, monsieur, the Mullah has since been in Lahore owing to an appointment with a renowned hairstylist/beard-trimmer/image consultant and is soon boarding a plane to Paris to receive a lifetime achievement award from the International Cave-dwellers Association!
    http://tribune.com.pk/story/53699/why-do-as-the-french-do/

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  103. Dollar sets new record against rupee
    By Shahid Iqbal
    Saturday, 25 Sep, 2010

    KARACHI: Rupee once again lost weight against the US dollar in the inter-bank market and set new record on Friday, reflecting the higher demand of dollar, coupled with rising weakness of economy.

    Currency dealers said the dollar was traded as high as Rs86.07-09 which was a record.

    http://www.dawn.com/wps/wcm/connect/dawn-content-library/dawn/the-newspaper/business/dollar-sets-new-record-against-rupee-590

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  104. Task force to collect data on incomes, assets
    By Our Reporter
    Friday, 24 Sep, 2010

    ISLAMABAD: The Reforms Coordination Group set up to spearhead the ongoing reform process has proposed the establishment of a task force at FBR headquarters for data collection.

    The group, which held a meeting here on Thursday chaired by Vakil Ahmed Khan, adviser to FBR chairman, recommended the task force with the objective to gather and use data on incomes, expenses and assets of persons from different sources, laying emphasis on utilisation of the same for ensuring correct filing of Income Tax returns for the tax year-2010 and tracing the non-filers for necessary action under the law.

    http://www.dawn.com/wps/wcm/connect/dawn-content-library/dawn/the-newspaper/business/task-force-to-collect-data-on-incomes%2C-assets-490

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  105. Competition Bill: Commission rejoices its revival
    By Dilawar Hussain
    Friday, 24 Sep, 2010

    KARACHI: The cartels may be shaking in their shoes, but the authors and main proponents of the Competition Bill consider its passage by the National Assembly on Thursday, as a huge success.

    Chairperson of Competition Commission of Pakistan (CCP) Rahat Kaunain Hassan termed it a “major initiative towards competitive and fair economy.”

    http://www.dawn.com/wps/wcm/connect/dawn-content-library/dawn/the-newspaper/business/passage-of-competition-bill-commission-rejoices-its-revival-490

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  106. Exemptions to go:Reformed GST to be enforced from Oct1
    By Amin Ahmed
    Friday, 24 Sep, 2010

    ISLAMABAD: Federal Finance Minister Dr Hafeez Shaikh announced here on Thursday that the reformed General Sales Tax (GST) would be enforced from Oct 1.

    Talking to newsmen, Dr Shaikh said that the government intends to introduce GST in its original format, eliminating all exemptions.

    http://www.dawn.com/wps/wcm/connect/dawn-content-library/dawn/the-newspaper/business/exemptions-to-go-reformed-gst-to-be-enforced-from-oct-1-490

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  107. OMCs warned against fuel crisis
    By A Reporter
    Tuesday, 28 Sep, 2010

    ISLAMABAD: Federal Minister of Petroleum and Natural Resources Syed Naveed Qamar on Monday advised the oil-marketing companies to take necessary measures to avert recurrence of petrol shortage in future and to examine the causes that led to fuel crisis in some parts of the country.

    Presiding over a meeting with OMCs, the minister conveyed government’s serious concern over petroleum shortage and difficulties faced by the general public.

    http://www.dawn.com/wps/wcm/connect/dawn-content-library/dawn/the-newspaper/business/omcs-warned-against-fuel-crisis-890

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  108. RGST implementation mode, rate to be finalised today
    ZAHEER ABBASI
    ISLAMABAD (September 28 2010): Federal government and provinces have reached an agreement over implementation of Reformed GST as committed with the International Monetary Fund from October, 1, however, the rate of tax and mode of implementation would be finalised today (Tuesday). Federal government has convened provincial finance ministers meeting here on Monday to develop consensus on implementation of reformed GST from October,1 2010.

    http://www.brecorder.com/index.php?id=1106506

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  109. No money left to run government
    By Mehtab Haider

    ISLAMABAD: While cutting down macroeconomic targets for 2010-11, the Asian Development Bank (ADB) on Tuesday declared there was no money left for running the federal government after paying for defence, subsidies, interest on loans and pensions.

    The ADB said the combined outlays for these sectors of the economy were eating away the total revenues collected by the FBR and operating expenses of the federal government (2.9% of GDP) were to be financed only through loans.
    http://www.thenews.com.pk/29-09-2010/Top-Story/941.htm

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  110. IMF calls for debate on reforms in Pakistan
    By Anwar Iqbal
    Friday, 08 Oct, 2010

    WASHINGTON: The International Monetary Fund urged Pakistan on Thursday to hold a national debate on economic reforms and take some difficult political decisions to implement them.

    Adnan Mazarei, IMF Mission Chief to Pakistan, also warned that Pakistan’s next budget would have to be adjusted to deal with the consequences of the recent floods that devastated the country’s economy, reducing its growth estimates from above four per cent of the GDP to about two per cent.

    http://www.dawn.com/wps/wcm/connect/dawn-content-library/dawn/the-newspaper/front-page/imf-calls-for-debate-on-reforms-in-pakistan-800

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  111. comment: Yet another ill-informed Western tourist
    by Yasmin Akram on 10 7th, 2010 | Comments (44)

    I don’t know what to think anymore when I hear the word Pakistan; it still elicits a longing to drop everything and take the first flight there but simultaneously also makes my heart sink.

    http://blog.dawn.com/2010/10/07/the-arrogance-of-another-ill-informed-western-tourist/

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  112. Pakistan, the state that refuses to fail
    By David Pilling
    Published: October 20 2010 22:54 | Last updated: October 20 2010 22:54

    Just 18 months ago Hillary Clinton declared there was an “existential threat” to Pakistan. The Taliban had occupied the picturesque Swat valley and imposed sharia law only 100 miles from Islamabad. With militancy on the rise in almost every corner of the country and bomb blasts thundering across its cities, the nuclear-armed state did indeed appear to be in peril.
    Only weeks after the US secretary of state’s intervention, Pakistani troops poured into Swat. Several hundred militants were killed and more than 2m refugees fled in the biggest internal displacement of people since the Rwandan genocide. The Swat campaign was “a watershed moment”, according to Salman Taseer, governor of Punjab and an ally of the civilian government of President Asif Ali Zardari. “It was a battle for life and death. If we hadn’t survived that, who knows?”

    http://www.ft.com/cms/s/0/7dab7e96-dc8b-11df-a0b9-00144feabdc0.html

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  113. Afghan transit trade agreement
    After prolonged negotiations, the governments of Pakistan and Afghanistan finally signed the Afghan Pakistan Transit Trade Agreement on October 28. This a welcome step in our relationship with Afghanistan beyond the national security paradigm. Both governments want a long-term partnership that rests on a solid economic foundation as a recipe for sustainable mutual cooperation. The accord, which allows Afghanistan access to Pakistani seaports and Pakistani businesses access to Central Asian markets, is likely to boost overall trade volumes of each country. Government officials in Islamabad estimate that Pakistani exports could increase by as much as $2 billion a year. Afghanistan, likewise, will be able to expand its legitimate international trade which should help to curb smuggling activity in the long-run.
    http://tribune.com.pk/story/69602/afghan-transit-trade-agreement/

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  114. RGST draft cleared – almost
    ISLAMABAD: The federation and provinces have agreed on major points in the draft of the Reformed General Sales Tax (RGST) bill while the deadlock between Sindh and the federation on collection of tax from seven service categories including stock brokers, commission agents, clearing and forwarding agents, studios, shipping agents, customs agents and courier services persisted.

    http://tribune.com.pk/story/69722/rgst-draft-cleared–almost/

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  115. Financial crises: 1,579 industrial units close during last five years, says Bijarani
    ALI HUSSAIN

    Business Recorder Logo ISLAMABAD (November 05, 2010) : The Senate was informed on Thursday that overall 1,579 industrial units were closed throughout the country during the last five years mainly because of financial constraints. Responding to questions of the members in Upper House of the Parliament during question hour, Minister for Industries and Production Mir Hazar Khan Bijarani, however, said that the government was making efforts to revive these units again that could help improve country’s economy.
    http://www.brecorder.com/news/business-and-economy/pakistan/1121118:financial-crises-1-579-industrial-units-close-during-last-five-years-says-bijarani.html

    Over 1,500 industrial units closed in 5 years
    By Kalbe Ali
    Friday, 05 Nov, 2010

    ISLAMABAD, Nov 4: Of the 1,579 industrial units shut down over the past five years, 700 were from Sindh and 688 from Khyber Pakhtunkhwa, the Senate was informed on Thursday.

    In a written reply to a question raised by Prof Khursheed Ahmed, the ministry of industries and production said that 115 industries had been closed in Punjab and 29 in Balochistan since 2005.

    Another 47 units were closed in the export processing zones, rendering 530 workers jobless.

    http://news.dawn.com/wps/wcm/connect/dawn-content-library/dawn/the-newspaper/front-page/over-1,500-industrial-units-closed-in-5-years-510

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  116. Talks with IMF clear hurdles
    By Khaleeq Kiani
    Friday, 05 Nov, 2010

    ISLAMABAD: The government hinted on Thursday that a breakthrough had been made in its talks with a visiting mission of the International Monetary Fund (IMF) by resolving key economic issues to pave the way for consideration of its case by the fund’s executive board for the release of the next tranche of $1.7 billion.

    http://news.dawn.com/wps/wcm/connect/dawn-content-library/dawn/news/pakistan/12-talks+with+imf+clear+hurdles–bi-04

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  117. EU trade package to ignore Pakistan’s wish list
    By Khurram Bari Khan
    KARACHI: The European Union is unlikely to accept Pakistan’s reluctant demand to amend the trade concession package and include a bunch of major export articles like apparel and home textile, a government official said on Thursday.
    “We asked the EU to either include or replace 15 items from their list of 75, but both requests have not been considered yet,” said Zubair Motiwala, Advisor to Sindh Chief Minister, who prepared the list comprising bed linen, knitwear and other finished products.

    http://www.thenews.com.pk/05-11-2010/business/

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  118. Doing business: Pakistan falls by nine places
    By Mehtab Haider

    ISLAMABAD: The World Bank’s report on ‘Doing Business 2011’ has further downgraded by eight notches Pakistan’s overall ranking in one year, during the tenure of the PPP-led regime. The country has slipped to the 83rd spot in 2011 against the 75th position in 2010, indicating the growing misgovernance and mismanagement.
    According to the WB’s report on Doing Business 2011 titled ‘Making a Difference for Entrepreneurs’, Pakistan’s ranking went down in eight categories out of the total nine as the country, in terms of starting a business, nosedived to the 85th position in 2011 against the 69th position in 2010, indicating that the ranking declined by 16 notches in one go.

    http://www.thenews.com.pk/05-11-2010/Top-Story/1820.htm

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  119. Pakistan seeks $50bn foreign debt waiver
    From the Newspaper
    (6 hours ago) Today

    ISLAMABAD: As federal and provincial economic teams assured the international community on Sunday of their resolve to introduce wide-ranging taxation measures, including Reformed General Sales Tax (RGST) and taxes on agriculture and real estate, Interior Minister Rahman Malik made a plea for waiving the $50 billion foreign debt to help Pakistan move ahead with the war against terrorism.

    http://www.dawn.com/2010/11/15/pakistan-seeks-50bn-foreign-debt-waiver.html

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  120. Political stability must for economic growth: Gilani

    * PM appreciates duty-free access for 75 Pakistani products to EU markets

    * US trade markets next target for Pakistan

    By Hussain Kashif

    LAHORE: The national economy cannot strengthen without political stability, Prime Minister Yousaf Raza Gilani said on Sunday.

    He was talking to Commerce Minister Amin Fahim, who held a special meeting with the prime minister during his two-day visit to the provincial capital on Sunday and discussed important issues related to trade and the traders.

    http://www.dailytimes.com.pk/default.asp?page=2010\11\15\story_15-11-2010_pg7_8

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  121. Recovery of sales tax: IR officials to have powers of civil court

    SOHAIL SARFRAZ

    ISLAMABAD (November 14, 2010) : The officials of the Inland Revenue would have the powers of civil court for the recovery of sales tax under a decree under the Code of Civil Procedure, 1908. According to a new section 64 of the general sales tax bill 2010, an officer of Inland Revenue can act as court in recovery matters.

    http://www.brecorder.com/news/top-stories/1124553:recovery-of-sales-tax-ir-officials-to-have-powers-of-civil-court.html

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  122. Govt willing to take difficult decisions: Gilani
    ISLAMABAD (updated on: 2010-11-15 13:40:26 PST):

    Govt willing to take difficult decisions: Gilani Prime Minister Syed Yousuf Raza Gilani on Monday said his government was willing to take ‘unpopular decisions’ to meet the long term challenge of flood reconstruction, institutional and structural reforms, for ‘a glorious tomorrow.’ He was addressing the plenary session of the Pakistan Development Forum, convened to share with the development partners the future vision of Pakistan in the wake of over US $10 billion losses to the national economy due to the devastating floods.

    http://www.brecorder.com/news/latest/15773:govt-willing-to-take-difficult-decisions-gilani.html

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  123. Next IMF tranche: Pakistan’s prospects improve

    RECORDER REPORT

    ISLAMABAD (November 14, 2010) : A 10-day long International Monetary Fund’s (IMF) review of Pakistan’s economy has concluded here at a positive note as its visiting mission has finally shown willingness to take Islamabad’s case to its board of directors (BoDs) for at least one tranche of $1.7 billion of $11.3 billion standby arrangement (SBA) probably in the first week of December.

    http://www.brecorder.com/news/top-stories/1124529:next-imf-tranche-pakistan-s-prospects-improve.html

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  124. RGST Bill tabled in National Assembly after provinces consensus: Prime Minister

    LAHORE (November 14, 2010) : Prime Minister Syed Yousuf Raza Gilani said on Saturday that Reformed General Sales Tax (RGST) Bill was tabled in the National Assembly after having consensus of the provinces in the Council of Common Interests (CCI) meeting. He was talking to media after inquiring about the health of former Senator Gulzar Ahmed Khan here at a hospital. Punjab Governor Salman Taseer and Senator Waqar Ahmed Khan also accompanied him.

    http://www.brecorder.com/news/top-stories/1124532:rgst-bill-tabled-in-national-assembly-after-provinces-consensus-prime-minister.html

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  125. Ending Sui gas, LPG disparity: World Bank asks government to rationalise prices

    ZAFAR BHUTTA

    ISLAMABAD (November 14, 2010) : The World Bank has urged Pakistan government to rationalise gas pricing mechanism to end disparity between the price of natural gas and liquefied petroleum gas (LPG), Business Recorder has learnt. The government is currently providing cross subsidy on natural gas, which has greatly upset textile and other industrial sectors.

    http://www.brecorder.com/news/top-stories/1124538:ending-sui-gas-lpg-disparity-world-bank-asks-government-to-rationalise-prices.html

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  126. Arrest of former chief: TCP officials in a state of shock

    MUSHTAQ GHUMMAN

    ISLAMABAD (November 15, 2010) : With the arrest of former Chairman of Trading Corporation of Pakistan (TCP), Abdul Malik, top officials (incumbent and retired) of corruption tainted state owned company are in a state of shock and seeking God’s mercy. “Allah Hum Par Rahum Kary (God have mercy on us), I am expecting more arrests in wheat and sugar import deals as few big fish within the TCP are still at large,” commented one TCP official.

    http://www.brecorder.com/news/top-stories/1124812:arrest-of-former-chief-tcp-officials-in-a-state-of-shock.html

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  127. Banking sector to withstand modest shocks: SBP Governor
    KARACHI (updated on: 2010-11-15 20:07:25 PST):

    Banking sector to withstand modest shocks: SBP Governor The banking sector in Pakistan has been able to withstand headwinds from weakening macroeconomic fundamentals since 2007.

    Although banks face increased credit risk, the overall sector is well placed to withstand modest shocks as they build their inventory of government securities, said Governor, State Bank of Pakistan Shahid H. Kardar in a message embodied in SBP Annual Report on the working of the Bank (Performance Review) for the year 2009-10 (FY10) which was released on Monday.

    http://www.brecorder.com/news/latest/15789:banking-sector-to-withstand-modest-shocks-sbp-governor.html

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  128. Rs 46 billion dues: PSEs’ defaults tarnishing SSGC image

    MUSHTAQ GHUMMAN

    ISLAMABAD (November 15, 2010) : Public sector defaults, to the tune of Rs 46 billion, led by privatised KESC, are tarnishing Sui Southern Gas Company’s (SSGC) standing at international as well as country level, official sources told Business Recorder. The company has sought federal government’s intervention to ensure payment to the international exploration and production (E&P) sector companies.

    http://www.brecorder.com/news/top-stories/1124809:rs-46-billion-dues-pses-defaults-tarnishing-ssgc-image.html

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  129. COMMENT: Will trade deficit go haywire once again? —Muhammad Aftab

    The foreign trade scenario for the whole of FY-2011 can turn negative as one reads initial indications. The trade deficit may widen because some imports are becoming costly. The quantitative requirements are also going up. Imported oil is not only getting costlier, but its quantity also has gone up

    Will the trade deficit go haywire once again? This seems to be the likely trend, as external accounts for July-October, a third of the current fiscal year (FY) 2011, indicate. The government, businesses and the central bank will have to act now to keep down the trade deficit and protect the external balances.

    http://www.dailytimes.com.pk/default.asp?page=2010\11\22\story_22-11-2010_pg3_6

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  130. Interview with President of Bank Alfalah in “The Banker”
    Posted by Nabeel Tirmazi on December 9, 2010 in The Banker | 0 Comment

    Recently we got oppotunity to interview Mr. Sirajuddin Aziz, President of Bank Alfalah Limited on the ocassion of Mesa Learning & OD Summit arranged by Nutshell Forum. The interview was done on the subject of current Pakistani economic scenario and its impact on Banking industry. The interview is hosted by Dr. Shahid A. Zia.

    http://pkeconomists.com/interview-with-president-of-bank-alfalah-on-the-banker

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  131. SPI inflation surges by 21.68 percent

    ZAHEER ABBASI

    ISLAMABAD (December 14, 2010) : The SPI inflation surged by 21.68 percent in the week ending December 9, 2010 over the same period of last year on the back of considerable increase in the price of essential commodities, revealed Federal Bureau of Statistics (FBS).

    http://www.brecorder.com/news/top-stories/1133912:spi-inflation-surges-by-21-68-percent.html

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  132. If transitional advance tax is ‘minimum tax’: WHT exemption for power consumers not applicable

    SOHAIL SARFRAZ

    ISLAMABAD (December 14, 2010) : The exemption of withholding tax for industrial and commercial power consumers would not be applicable to the taxpayers whose transitional advance tax deductible under section 235 of the Income Tax Ordinance 2001is minimum tax.

    http://www.brecorder.com/news/top-stories/1133915:if-transitional-advance-tax-is-minimum-tax–wht-exemption-for-power-consumers-not-applicable.html

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  133. PACCs’ export/import data with ERS: FBR facing technical problems in cross verification

    RECORDER REPORT

    ISLAMABAD (December 14, 2010) : The Federal Board of Revenue (FBR) is facing technical problems in cross verification of Pakistan Customs Computerised System’s (PACCs) export/import data with the Expeditious Refund System (ERS) for processing claims filed electronically.

    http://www.brecorder.com/news/top-stories/1133918:paccs-export-import-data-with-ers-fbr-facing-technical-problems-in-cross-verification.html

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  134. Macroeconomic environment: Kardar stresses coordinated response

    RECORDER REPORT

    KARACHI (December 14, 2010) : Shahid H Kardar, Governor, State Bank of Pakistan on Monday said the future strategy to control inflation must include co-ordinated and timely response to changing macroeconomic conditions along with concerted efforts to raise the productive capacity of the economy.

    http://www.brecorder.com/news/top-stories/1133935:macroeconomic-environment-kardar-stresses-coordinated-response.html

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  135. Trade gap widens 17% in five months
    ISLAMABAD:

    The trade deficit widened almost 17 per cent in five months (July-November) of the current fiscal year compared to the same period last year, as both imports and exports registered a double-digit growth.

    http://tribune.com.pk/story/92301/november-trade-deficit-widens-to-1-34b/

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  136. Experts term IMF extension for stand-by arrangement an opportunity
    ISLAMABAD (updated on: 2010-12-29 17:14:11 PST):

    Experts term IMF extension for stand-by arrangement an opportunity Economic experts have termed IMF nine-month extension for stand-by arrangement an opportunity to complete the reform for General Sales Tax and correct the course of fiscal policy and amend the legislative framework for the financial sector.

    http://www.brecorder.com/news/latest/17304:experts-term-imf-extension-for-stand-by-arrangement-an-opportunity.html

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  137. Pakistan’s July-Jan foreign investment rises 44.3 pct

    KARACHI | Thu Feb 17, 2011 5:59am EST

    KARACHI Feb 17 (Reuters) – Net foreign investment in Pakistan rose 44.3 percent to $1.18 billion in the first seven months of the fiscal year 2010/11, becuase of an increase in foreign portfolio investment, the central bank said on Thursday.

    This compared with net foreign investment worth $818.9 million in the same period last year.

    http://www.reuters.com/article/2011/02/17/pakistan-investment-idUSSGE71G07Y20110217

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  138. IMF delegation extends visit
    By Shahbaz Rana
    Published: March 9, 2011

    ISLAMABAD:

    Pakistan and the International Monetary Fund (IMF) seem to have made some headway in their talks, as the Fund on Tuesday agreed to extend its visit for a couple of days after getting an assurance from Islamabad that it will immediately notify an increase in power tariff and withdraw sales tax exemptions on certain items.

    The dramatic development took place within an hour after the IMF delegation formally concluded talks in the evening and decided to issue a statement from Washington. Finance Minister Dr Abdul Hafeez Shaikh and Adnan Mazarei, the IMF’s assistant director for Middle East and Central Asia, announced the extension in the IMF delegation’s visit.

    http://tribune.com.pk/story/129911/imf-delegation-extends-visit/

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  139. NFC award: Provinces must raise more revenue, says Sheikh
    By Shahbaz Rana
    Published: March 8, 2011
    ISLAMABAD:

    In a bid to improve its own fiscal balance, the federal government on Monday began pushing the provinces to increase their revenue collection efforts, particularly in the real estate and agriculture sectors.

    At a meeting between the federal and provincial finance chiefs to discuss the monitoring and implementation of the National Finance Order of 2010, Federal Finance Minister Abdul Hafeez Sheikh asked for the provinces’ cooperation in helping keep the overall national fiscal deficit under control by running surpluses of up to Rs120 billion.

    http://tribune.com.pk/story/129349/nfc-award-provinces-must-raise-more-revenue-says-sheikh/

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  140. Petroleum prices go up
    Friday, 01 April 2011 04:51

    ISLAMABAD: Petrol and diesel prices have increased by Rs7 and 10 per litre respectively due to the impact of international oil prices.

    Prices of petrol and diesel have increased by 10 and 13 percent respectively in the first 25days of the current month as the benchmark crude prices hovered around $111.2 per barrel in the Gulf market.

    http://www.brecorder.com/top-news/1-front-top-news/9621-petroleum-prices-go-up.html

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  141. Economy positive for last couple of years
    Wednesday, 30 March 2011 15:05

    ISLAMABAD: Despite several domestic and international challenges, the country’s economy is gradually moving towards building basis on sound footings as suggested by the economic indicators. Not only the country’s foreign exchange reserves reached an all time high of $17.38 billion because of huge remittances sent by overseas Pakistan, the other economic indicators have shown positive growth during the period, sources in the Ministry of Finance said while commenting on the three-year performance of the current government.

    http://www.brecorder.com/pakistan/business-a-economy/9381-economy-positive-for-last-couple-of-years.html

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  142. Pakistan says flood-hit economy to grow by 4 pct in 2011/12
    Published: Thursday, 7 Apr 2011 | 4:52 AM ET

    By Augustine Anthony and Sahar Ahmed ISLAMABAD, April 7 (Reuters) – Pakistan’s economy is expected to grow 4 percent in the coming financial year starting July 1, picking up steam again after devastating floods pushed back growth to around 3 percent this year, officials said on Thursday.

    http://www.cnbc.com/id/42468198

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  143. Pakistan Trade Gap Narrows as Export Growth Outpaces Imports
    By Farhan Sharif – Apr 9, 2011 3:33 PM GMT+0500

    Pakistan’s trade deficit narrowed by 39 percent in March as exports from the country grew at a faster rate than imports.

    The trade gap narrowed to $920 million in the ninth month of the country’s financial year, from $1.5 billion in the year- earlier period, according to a statement posted on the website of the Islamabad-based Federal Bureau of Statistics. Overseas sales rose 41 percent to $2.5 billion, while imports increased 4 percent to $3.4 billion.

    http://www.bloomberg.com/news/2011-04-09/pakistan-trade-gap-narrows-as-export-growth-outpaces-imports.html

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  144. State Bank’s assessment of the economy

    EDITORIAL (April 11, 2011) : Although the State Bank believes that pessimism following the catastrophic floods in August has started to dissipate, yet its prognosis of the economy continues to be bleak. According to the SBP’s quarterly report released on 8th April, its earlier growth projection for FY11 in the range of 2-3 percent remains unchanged due particularly to the poor performance of the manufacturing sector caused by acute energy shortage and prevailing political uncertainty.

    http://www.brecorder.com/component/news/single/600:news.html?id=1176721

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  145. Real GDP growth may fall to 2.8pc: IMF
    By Anwar Iqbal | From the Newspaper

    WASHINGTON, April 27: The International Monetary Fund predicted on Wednesday that Pakistan’s real GDP growth may to fall to 2.8 per cent in fiscal 2010-11.

    The Fund cites last year’s devastating floods and high fiscal deficits as the main causes for this shortfall, noting that deficits were crowding out private-sector credit and investment.

    http://www.dawn.com/2011/04/28/real-gdp-growth-may-fall-to-28pc-imf.html

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  146. Major targets missed; tough decisions ahead
    By: Imran Ali Kundi | Published: June 03, 2011
    ISLAMABAD-Making an excuse of floods, security situation and soaring oil prices at international market, Federal Minister for Finance and Economic Affairs Abdul Hafeez Shaikh Thursday admitted that the government has failed to achieve major economic targets including GDP growth’s target during the outgoing financial year 2010-2011.

    http://nation.com.pk/pakistan-news-newspaper-daily-english-online/Politics/03-Jun-2011/Major-targets-missed-tough-decisions-ahead

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  147. Economic Survey to miss official poverty figures
    our correspondent
    Thursday, June 02, 2011

    ISLAMABAD: The Economic Survey 2010-11, to be launched by Minister for Finance Dr Abdul Hafeez Sheikh today (Thursday), will not possess any official figures of people living below the poverty line in Pakistan as the PPP-led regime has been unable to complete a poverty survey in its over three years rule, The News has learnt. Having no official poverty figures in the country, the Planning Commission’s Centre for Poverty Reduction and Social Policy Development’s National Project Manager Yasin Junjua has resigned from his post citing personal reasons as the sole cause for leaving this organisation at this crucial juncture. “Yes, my resignation has been accepted by the competent authority,” Yasin Junjua confirmed while talking to The News here on Wednesday.

    http://www.thenews.com.pk/TodaysPrintDetail.aspx?ID=6427&Cat=13&dt=6/2/2011

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  148. Post-budget shaky scenario
    Published: June 6, 2011

    n Ikramullah
    Finance Minister Dr Abdul Hafeez Shaikh, while unveiling the Economic Survey of Pakistan 2011-12, had forewarned a day before announcing the budget that “all major targets had been missed” and that the nation should be prepared for tough decisions ahead.
    The worst floods in the nation’s history, the war on terror, and a spurt in the international oil prices had pulled down the economy that grew by only 2.4 percent against a target of 4.5 percent in the last financial year 2010-11. The Afghan war cost rose to $17.8 billion, while external debts had snowballed a staggering amount of $59.5 billion. The budget, however, announced on Friday, did not provide any relief to the masses. The Finance Minister’s claim that the proposed budget was growth oriented with more focus on key targets, including stabilising economy, employment generation, broadening tax base and relief to the common people, received cheers from the treasury benches, but was challenged by the opposition.

    http://nation.com.pk/pakistan-news-newspaper-daily-english-online/Opinions/Columns/06-Jun-2011/Postbudget-shaky-scenario

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  149. Slow growth rate
    Tuesday, June 07, 2011

    According to the Economic Survey 2010-2011, the country’s current GDP growth rate is 2.4 percent. It shows the pathetic performance of this democratic government. The average GDP growth rate during Musharraf’s nine-year-rule was 7 percent. It once touched 8.9 percent in 2006 which is the highest in Pakistan’s history.

    That the present government faced natural disasters is a lame excuse. The previous government faced an equally disastrous natural calamity – the 2005 earthquake.

    Asif Pathan

    Quetta

    http://www.thenews.com.pk/TodaysPrintDetail.aspx?ID=51234&Cat=11

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  150. Economic survey uncovers pathetic picture of education
    By Jamal Shahid | From the Newspaper
    June 3, 2011

    ISLAMABAD: More than half of all rural children in class five in Pakistan are at least three levels behind their grade in reading English and Urdu texts in schools, according to the Economic Survey of Pakistan 2010-11.

    “Overall percentage of rural children in class 5 reading a class 2 text in Urdu/Sindhi was 52 per cent while for the English text it was 42 per cent. This meant that more than half of all rural children in class 5 in Pakistan were at least three grade levels behind,” said one of the survey`s main findings on education.

    http://www.dawn.com/2011/06/03/economic-survey-uncovers-pathetic-picture-of-education-2.html

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  151. Economic Survey 2010-11: Country sinks deeper into debt
    Published: June 3, 2011

    ISLAMABAD:

    While Pakistan’s public debt expanded by 13.1% to cross the Rs10 trillion mark by end of the March 2011, the country’s debt-to-GDP ratio, a measure of the degree of indebtedness of the economy, declined as the country benefited from a stable exchange rate and made repayments on its foreign debt.

    http://tribune.com.pk/story/181368/economic-survey-2010-11-country-sinks-deeper-into-debt/

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  152. Full Text – Economic Survey of Pakistan 2010-11

    http://www.scribd.com/doc/56933452/Pakistan-Economic-Survey-2010-2011

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  153. Govt scores a perfect ‘0’
    Khalid Mustafa
    Friday, June 03, 2011

    ISLAMABAD: Pakistan missed all the macroeconomic targets announced in the budget 2010-11 but Finance Minister Dr. Hafeez Sheikh placed the entire blame on the adverse impact of the catastrophic floods, the war on terror, massive hike in oil prices and the energy crisis. The minister presented this fiscal catharsis while releasing the Economic Survey 2010-11 here on Thursday.

    http://www.thenews.com.pk/TodaysPrintDetail.aspx?ID=6441&Cat=13&dt=6/3/2011

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  154. Hillary Clinton’s false claims on US Aid to Pakistan
    The mid- to late-1990s seal of the United Stat…

    We are all aware of Hillary Clinton’s recent boast in front of the Pakistan media. “We provide more support than Saudi Arabia, China, and everybody else combined, but I will stand here and admit that I’m not sure many Pakistanis know that,” US Secretary of State Hilary Clinton said in Islamabad on May 27. Various media sources in Pakistan and the US have started to scrutinize this boast.

    http://www.todaysviews.com/?p=1307

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  155. The health of the economy
    By Dr Pervez Tahir
    Published: June 4, 2011

    The just issued Pakistan Economic Survey 2010-11 paints the picture of an economy in an extremely unhealthy state. The gross domestic product (GDP) growth of 2.4 per cent is low, but the claim made in some talk shows that it is the lowest ever is not true. It was 1.7 per cent in 2008-09 and two per cent in 2000-01. This should, however, be no cause for satisfaction. In per capita terms, growth is negligible, given the population growth rate of 2.05 per cent. With inflation persisting in double digits at 14.1 per cent, and food inflation even higher at 18.4 per cent, poverty cannot but rise.

    http://tribune.com.pk/story/181790/the-health-of-the-economy/

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  156. Economic Survey 2010-11: Circular debt hampers oil and gas sector growth
    By Zafar Bhutta
    Published: June 3, 2011

    ISLAMABAD:

    The overall consumption of petroleum products and gas witnessed negative growth, while electricity and coal consumption increased substantially during the first three quarters of fiscal 2011 (July 2010 to March 2011).

    http://tribune.com.pk/story/181366/economic-survey-2010-11-circular-debt-hampers-oil-and-gas-sector-growth/

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  157. ISLAMABAD:

    While Pakistan recorded the lowest GDP growth rate, 2.4 per cent, among regional countries in 2010-11, the country’s population swelled at a rate of 2.1 per cent, the highest population growth rate in South Asia, adding more pressure on meagre resources the country has.

    http://tribune.com.pk/story/181448/last-in-economic-first-in-population-growth/

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  158. Pak among slowest growing SA countries
    Indo-Asian News Service
    Islamabad, June 04, 2011

    Pakistan is now among the slowest growing South Asian countries, said a leading daily as it noted that “India, Sri Lanka and Bangladesh are forging ahead”. An editorial in the Dawn Saturday said: “The outgoing fiscal was yet another year of uphill economic struggle for the vast majority of Pakistani
    s due to decelerating growth and rising prices. Investment dried up, unemployment escalated and poverty increased.”

    “Ranked as the third-fastest expanding Asian economy after China and India in the middle of the last decade, Pakistan is now among the slowest growing South Asian countries,” the Dawn said.

    http://www.hindustantimes.com/Pak-among-slowest-growing-SA-countries/Article1-705548.aspx

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  159. The economic picture
    From the Newspaper

    THE outgoing fiscal was yet another year of uphill economic struggle for the vast majority of Pakistanis due to decelerating growth and rising prices. Investment dried up, unemployment escalated and poverty increased.

    http://www.dawn.com/2011/06/04/the-economic-picture.html

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  160. Telecom sector on the wane
    From the Newspaper

    ISLAMABAD, June 2: The telecom sector, which has played a critical role in reviving the economy over the last few years, has reached a saturation point and its contribution to national kitty has started declining.

    The Economic Survey of Pakistan 2010-11 highlighted that telecom sector contributed Rs109.1 billion to the national exchequer through taxes, licence fees and other duties, which is about Rs2.5 billion less than the previous year.

    http://www.dawn.com/2011/06/03/telecom-sector-on-the-wane.html

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  161. A friend of mine forwarded this via email…

    The courageous many
    By Sami Shah
    Published: June 1, 2011

    In all the narratives written about Pakistanis, the most important descriptor is always missing. Articles have been filed calling us terrorists or traumatised or victims of the Stockholm syndrome. Books have been written about how we are conflicted and confused. Blog posts describe our passion for conspiracy theory and our frightening tendencies towards violence. We are said to love food, love lawn prints and love religious intolerance. We are the bogeymen of the world or the victims of invisible forces all converging towards our eventual destruction. The detail everyone misses though, the crucial bit of information that goes ignored each and every time, is that we are all of this and one thing more: We are brave. Bloody hell we are brave.

    We are attacked by terrorists with a regularity that is past frightening and has entered the world of reliable regularity. We are killed by political parties, who, in their desperate and pathetic battles over inches of territory, catch us in their crossfire. We are killed by the military leadership and their hoodlums in the intelligence agencies, who, when confronted by their own incompetence and decadence, would rather torture and murder the truth than confront it. A thousand ways, on every day, someone is out to kill us. Yet we, the average Pakistanis, continue on. There are no armed guards to protect us, no barricades for us to hide behind. We cannot run anywhere, since no one will accept us, and we cannot change our circumstances because the forces that conspire against us have shown no will to change. In every airport, it is our passport that is loathed. In every news story, it is our nationality that is criticised. All because of decisions we never made nor could prevent others from making for us.

    Lesser nations crumble in the face of such adversity. They fall apart or pull themselves to pieces. They are invaded or commit collective suicide. Yet, despite all the efforts of the terrorists, the military leadership and our ineffectual political parties to do all these to us at the same time, we persevere. Through bomb blasts and firings and tortured corpses and assassinations, we continue struggling for the fundamental right to live our lives. If we, as a result of all these inhuman pressures, act more than a bit eccentric, even to the point of inflicting self-harm, please forgive us these weaknesses. We tend to be a tad overzealous about religion, have a propensity for outbursts of mob violence and can spin webs of conspiracy fantasies around even a flat tire. These are just coping mechanisms. They offer sources of easy exploitation to religious groups and political parties (the former and latter are more or less the same), but these indulgences are no different from a teenager who takes to cutting himself and smoking too many narcotics when faced with abusive parents. The teen does that because self-harm is the one thing he can control. With no electricity, dissipating gas resources, an army that is beholden to no one, elected leaders who are incapable of anything, terrorist groups that will kill anyone and foreign forces that will go anywhere, we too feel a lack of control. So we turn that need for sadistic authority inwards. We will grow out of it when we have the maturity to see that we have more influence over our lives than we thought. But that time is not now.

    Journalist Saleem Shahzad was tortured to death. We can only make educated speculations as to who did it. But he knew death was coming, and despite that he searched for the truth. And even after his passing, that search will continue by so many more. That is the kind of bravery that we Pakistanis are capable of. All others be damned.

    Published in The Express Tribune, June 2nd, 2011

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