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Earlier this week, this column discussed the International Energy Agency's forecast which said that global oil prices are expected to find a new bottom soon. Much of the reasoning revolved around the notion that Saudi Arabia and the likes are unwilling to settle for lower oil production levels, whereas analysts also believe that the Saudis can afford lower oil price for a couple of years before even thinking about a cut in their oil production.
So it seems that Grexit has either been delayed for some time or diluted. Earlier this week, the European leaders and Greek creditors came to an agreement with Greek government after contentious marathon negotiations.
It’s a sigh of relief whenever home remittance numbers are announced. And this time too, the expatriates helped the country touch all time high inflows. With June 2015 figures, the fiscal year 2015 has come to sprightly end for remittances.
Late last week, neighbouring rivals India and Pakistan were awarded memberships into the Shanghai Cooperation Organization (SCO) to bolster cooperation between all member countries – Russia, China, Kazakhstan, Uzbekistan, Tajikistan, Kyrgyzstan – in the fields of security, energy, and trade. No doubt that this development is a step in the right direction. But keeping the politics aside, let’s have a look at Pakistan joining the SCO from a purely trade standpoint.
There are several issues in Pakistan’s housing sector, and one of them is land titling. Identification, allocation, and servicing are three critical components of the housing supply process. Given the key role of land in housing supply, it is essential that a comprehensive perspective is developed for the land delivery system at national, provincial, regional and local level. There must be effective coordination among various government departments, development agencies, and the private sector.
Last week, some positive developments in agricultural research in cotton were announced; the signing of a MoU with the Chinese to bring technology and invest in research here, and the Multan Cotton Research Station’s announcement of progress regarding the cotton leaf curl virus. Both of these announcements bode well for the cotton sector.
Microfinance graduated to a billion dollar business in Pakistan last year. Gleaning the Pakistan Microfinance Review (2014), which was recently released by the sector’s representative body and data-aggregator Pakistan Microfinance Network (PMN), the year gone by, can be classified as the sector’s best in recent years.

 



 
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Banking Review 2014


Annual2013/14
Foreign Debt $61.805bn
Per Cap Income $1,386
GDP Growth 4.14%
Average CPI 8.6%
MonthlyJune
Trade Balance $-2.378 bln
Exports $2.016 bln
Imports $4.394 bln
WeeklyJuly 23, 2015
Reserves $18.677 bln