In light of increase in profit rates on National Saving products, along with rollout of shorter tenure certificates, the current fiscal year started on a positive note for risk-averse, passive investors.
In the run up to the end of FY12, the Federal Board of Revenue (FBR) plastered advertisements in local newspapers propagating its lucrative amnesty scheme for tax payers. The offer put forth by tax authorities was quite alluring, as it allowed all tax payers and withholding agents that had not submitted their dues, to cough up just 25 percent of the total principal amount of outstanding tax, while the remaining 75 percent may be paid in equal monthly installments by December 2012.
Under present condition, when Initial Public Offerings (IPOs) are far and few, listing of Aisha Steel Mills Limited (ASML) at the start of the current fiscal year will help in lifting investors confidence in the domestic equity market.
With the dusk of FY12, the yawning energy deficit in the country is nowhere near its close. As the last streaks of hopes subside, wretched power situation during the peak summer times stoke concerns to the very possibility of any break.
The Competition Comm-ission of Pakistan has proposed to initiate proceedings against local fertiliser manufacturers for the abuse of dominant position, which, according to the Commissions enquiry report, led to unreasonable and unjustified increase in urea prices in the country.
Following the disbandment of the Rice Export Corporation of Pakistan in 1990, rice trade in the country was liberalised. Consequently a relative decline in government interventions in the rice market has boded well for the trade statistics during the course of the last two decades, with rice exporters responding positively to the market liberalisation.
Be it heroin or hashish, Pakistan is amongst the top countries that use and abuse them. Where the country faces many other social issues, use of illicit drugs is the rise in the country, dismantling the leftover hopes for social and economic development.