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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.

Electricity prices are expected to be reduced by more than one rupee per unit effective March 2014 due to rupee appreciation against dollar. National Electric Power Regulatory Authority (Nepra) has fixed April 22, 2014 to hear a petition of Central Power Purchasing Agency (CPPA) on fixation of monthly fuel price adjustment. According to the Nepra Act, the Authority has to review and revise the approved tariff on account of any variations in the fuel charges on a monthly basis.
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.
In a frank discourse, the former Governor of State Bank of Pakistan and head of Institute of Business Administration, Dr Ishrat Husain, has sought to quantify the cost borne by country's economy due to recent judgements of superior courts. In a paper that he read at the International Judicial Conference in Islamabad on Saturday, Dr Husain cited four factors that have led to inflict a profound damage on the country's economic potential.
United States Consulate General Karachi has requested the Federal Board of Revenue (FBR) to allow one-time condonation of delay in time period for arrival/clearance of 117 containers/units part of US military reverse cargo in Afghanistan. Sources told Business Recorder here on Saturday that the Director General, Directorate General of Transit Trade, Custom House Karachi, would submit its comments to the FBR for further action.
The Ministry of Commerce (MoC) has set up a cell to monitor agriculture products being imported from India after receiving complaints from Pakistan's agriculture sector. Pakistan's agriculture sector is resisting trade normalisation process with India fearing that influx of Indian agriculture goods will destroy the local agriculture as India is extending subsidies to its farmers.
The rupee appreciation should have accounted for a 6 percent price reduction in local assembled cars yet the prices have declined only notionally. The decline in price of imported cars would be determined after a new shipment arrives, a survey conducted by Business Recorder reveals. In a report, All Pakistan Motor Dealers Association (APMDA) stated that strengthening of the rupee against the US dollar is of no consequence when it comes to fixation of price of cars.

 



 
Index Closing Chg%
Arrow DJIA 16,408.54 0.10
Arrow Nasdaq 4,095.52 0.23
Arrow S&P 1,864.85 0.14
Arrow FTSE 6,625.25 0.62
Arrow DAX 9,409.71 0.99
Arrow CAC-40 4,431.81 0.59
Arrow Nikkei 14,516.27 0.68
Arrow H.Seng 22,760.24 0.28
Arrow Sensex 22,628.84 1.58





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Annual2012/13
Foreign Debt $60.9bn
Per Cap Income $1,368
GDP Growth 3.6%
Average CPI 7.5%
MonthlyFebruary
Trade Balance $-1.433 bln
Exports $2.167 bln
Imports $3.600 bln
WeeklyApril 14, 2014
Reserves $9.713 bln