The Islamisation of global and local finance has picked up rather sharply since the onset of Great Recession 2007. Islamic banks have seen impressive deposit growth, which has also tempted some of the conventional banks to step into the Islamic banking industry lately.
The loud bubbling sound resounding for a couple of days is that of Coca-Cola Internationals announcement to invest further in Pakistan. It is certainly a blessing when multinationals show signs of continuation in a country where security situation has left little for foreign investment.
The Punjab budget is good news for Pak Suzuki Motors Company (PSMC). The Yellow Cab Scheme is back in motion. The scheme has been allotted Rs25 billion in the annual budget, with a targeted 50,000 cabs to be provided over the next fiscal year.
If policymakers get something right, they must be appreciated. Telecom authorities have finally put their foot right in addressing the long-standing matter of grey traffic, or illegal termination of voice calls.
Post budget measures often have greater significance than the budget itself, and the revision in Gas Infrastructure Development Cess (GIDC) rates is one such example. Having raised the bar uniformly at Rs300/mmbtu for all slabs except domestic consumers in the recent budget, the government has backtracked on at least three slabs.
Every bit of energy counts today, especially for a country where the power crisis seems interminable. While the focus should remain with indigenous hydrocarbons and low cost conventional natural resources, renewable resources can act as small padding in the bigger picture. And with huge potential for Pakistan, as marketed in studies and seminar, renewable resources can be the helping hand.
Some media magnets had earlier frowned on the Drug Regulatory Authority of Pakistans (DRAP) inefficiency to form a suitable pharmaceutical regulatory framework. And yes, they are correct, to the extent that since the pricing and quality concerns are still putting the industry at risk. But, the encouraging part is that the DRAP is now making some moves to regulate the quality aspect.