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Credit should be given where due; so should be criticism. Amidst the scorching heat from the rising temperatures in the largest metropolis, the citizens of Karachi have been thumped by massive power shortfall right in the beginning of the holy month of Ramadan. Why isolate Karachi’s situation from the rest of the country, which is also facing similar weather and power conditions?
Development budgets in Pakistan are seldom fully utilised. But that doesn’t stop provinces from making clear their noble intentions for development every year. Now, these provinces boast different economic profiles, so it is inevitable their development priorities would differ as well. Now that the four provincial budgets have all been announced, let’s see where the dough (or some of it) will be flowing next fiscal.
Finally its here! Indus Motor Company (IMC) has launched its regional certified used car brand Toyota Sure in Pakistan after much deliberation. According to company officials, T-Sure represents an expert friend to whom you can go to for help.
Rapid urbanization in Pakistan has resulted in increasing the deficit of housing units. At this very moment, Pakistan is facing a shortage of over 9 million housing units. Government of Pakistan has started to give series attention to this issue and recently it has announced the Prime Minister Housing Scheme (PMHS).
Testing the patience in such rising temperatures, that too, at the very beginning of Ramadan, did not exactly work out that well. Just as the Prime Minister made the unrealistic promise of no loadshedding during key hours, almost on cue, lights went off, and stayed off for quite some time, in quite a few areas. The resultant public anger should not come as a surprise. And if the state of affairs is any guide, be ready for more such protests.
Four years ago, the Sindh High Court (SHC) had struck down Sindh Chief Minister’s decision to allow plots in forest land to widows. The SHC bench had said: land reserved for cultivating forests could not be put to any other use. Now the same Chief Minister wants to give 9600 acres of forest land (in Garhi Yasin) to the army for agriculture purposes, on the premise that it is for martyrs’ families. Such is the misery that Machiavellian politics brings: the prince must survive at all costs.
It looks like power consumers are generally well aware of what needs to be done, if and when the government goes ahead with its plans to remove power sector subsidies. According to a recent opinion poll by Gilani Research Foundation (GRF) Survey carried out by Gallup Pakistan 56 percent Pakistanis said that they would reduce the amount of electricity consumption to cope with increased rates.


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Banking Review 2014

Foreign Debt $61.805bn
Per Cap Income $1,386
GDP Growth 4.14%
Average CPI 8.6%
Trade Balance $-1.894 bln
Exports $1.953 bln
Imports $3.847 bln
WeeklyJune 25, 2015
Reserves $17.457 bln