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Business and Economy: Pakistan


The two-day International Judicial Conference, 2014, concluded on Saturday with the adoption of ''Islamabad Declaration'' and several recommendations, one of which emphasised to encourage Foreign Direct Investment (FDI) as well as other economic activities in the country. During the concluding session of the conference, Chief Justice Tassaduq Hussain Jillani announced the Islamabad Declaration, prepared by four groups.

KP Chief Minister, Pervez Khattak has said that the next budget of Khyber Pakhtunkhwa will be tax-free, surplus and people-welfare oriented with allocation of hefty funds for social sectors including stipends for disabled and destitute students and employment opportunities.
Finance Minister Ishaq Dar on Saturday said the government target is to mobilise Rs 200 billion to Rs 250 billion through privatisation of State Owned Enterprises (SOEs) by September 2014. In an interview with Aaj News, the minister further stated that the International Monetary Fund (IMF) would not have any objection to a delay in sell-off of SOEs as he has been able to convince them about a marginal adjustment in the timeframe of planned capital market transaction.
The Khyber Pakhtunkhwa government of Pakistan Tehreek-i-Insaf has announced monthly allowance for post graduate unemployed youth of the province. Provincial Minister for Higher Education Mushtaq Ghani said the government had allocated Rs 500 million for some 60,000 Masters Degree holders across the province. He said the KP government will provide Rs 2000 per month allowance to unemployed youth who have completed their M.A/ M.Sc examinations until they get job.
The Lahore Chamber of Commerce and Industry (LCCI) on Saturday congratulated former Secretary Commerce, Water and Power Zafar Mehmood on his appointment as Wapda Chairman. LCCI President Sohail Lashari in a statement expressed optimism that the new Wapda Chairman would utilise his best abilities for the early construction of large water reservoirs in the country that are a need of the hour.
Representatives of shopping centers and different market associations of Saddar have lauded the ongoing drive against encroachments. They, however, urged the concerned authorities to take proper measures to ensure that the encroachments removed from there might not re-appear. They said that vendors and hawkers have occupied a major portion of different roads, thereby creating heavy traffic jams.
Traders on Saturday said the incidents of kidnapping of businessmen and subsequent demands for huge ransom have grown significantly during the last one month. The trend completely negates the government claims of successful operation against outlaws. "Over 300 traders have been kidnapped only in March this year," traders told Business Recorder, adding that kidnappers demand for ransom ranges between Rs 20,000 to Rs 2 million for the release of the kidnapped person.


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Foreign Debt $60.9bn
Per Cap Income $1,368
GDP Growth 3.6%
Average CPI 7.5%
Trade Balance $-1.433 bln
Exports $2.167 bln
Imports $3.600 bln
WeeklyApril 14, 2014
Reserves $9.713 bln