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TIP demands repromulgation of CCP Ord.
KARACHI: Transparency
International Pakistan has demanded that Competition Commission
of Pakistan Ordinance, 2007 be re-promulgated in its original
form before 27th March 20I0.
Chairman TIP, Adil Gilani said
on Thursday that Transparency International Corruption
Perception Index (CPI) 2010 will be prepared on the rating of
countries for 2009-2010 based on the surveys carried out
independently by World Bank, Asian Development Bank, Economist
Intelligence Unit, World Economic Forum etc.
The ranking, depends on the
status of good governance reform carried out by each country
according to the donor agencies previous funding in the
respective country. He said Pakistan needs major actions to
improve its rating, which is used by donors agencies while
considering donation requests.
He pointed out that Competition
Commission of Pakistan's performance has been acclaimed as
exemplary allover the world, and is also reflected in the CPI of
Transparency International. If the CCP Ordnance expires, the
Corruption Perception Index (CPI) 20I0 of
Pakistan is deemed to reflect
this act in a negative manner.
According to Adil Gillani, good
actions taken by CCP like Pakistan Steel Inquiry, Cement Cartel,
PIA, Banking Cartel, Sugar cartel, LPG & Oil Cartel, Newspapers,
Chartered Accountants, Takaful Pakistan , Stock Exchanges, KPT,
Port Contractors and inquiry into TCP affairs has resulted in
improving the governance perception of GoP in general.
However strong opposition from
the vested quarters are trying to curtail powers of CCP which
needs to be countered at all stages.
He referred to governance
measures suggested by TI Pakistan in the Shaukat Tarin
Committee, formed by the Prime Minister on 17th Nov 2009 and
said one of the 13 recommendations given by TIP in the committee
is based on CCP performance, that all Regulatory Authorities
viz. SECP, CCP, PPRA, EPA, SBP,OGRA, PEMRA, PTA, PFRA, NEPRA
etc, etc shall be fully autonomous, comprising of professionals,
without any nominations from government. - APP
KSE 100-index gains 95 points on foreign buying
KARACHI: Karachi Stock Exchange
(KSE) rose almost 1 percent on Thursday to more than two-week
closing high on buying by foreign investors and a lower than
expected rise in inflation, dealers said.
The Karachi Stock Exchange's
benchmark 100-share index was 94.72 points, or 0.97 percent,
higher at 9,879.70 points on turnover of 175.72 million shares.
The KSE-index ended at 9,953.07
points on Feb. 22.
"Huge foreign inflows of $44
million in the last 10 days continued to dominate the positive
sentiment," said Furqan Punjani, an analyst at Topline
Securities Ltd.
According to official data,
foreigners have bought shares worth a net $44.2 million this
month.
Dealers said the 13.04 percent
rise in inflation year-on-year for February was lower than
analysts expectations which also helped improve investor
sentiment.
A Reuters poll of 10 analysts on
Monday had forecast February's consumer price index would rise
by 13.20 percent.
Rupee firms against dollar
In the currency market, the
rupee ended firmer at 84.25/35 to the dollar compared with
Wednesday's close of 84.50/55.
There were few import payments
in the market, and portfolio inflows had provided support over
recent days, dealers said.
The rupee ended at an all-time
closing low last week and hit an all-time low of 85.15 last
month.
Dealers said the rupee may firm
in the event of more dollar selling by exporters and if external
flows started to come in. But the medium-term outlook remained
weak.
The rupee has gained 0.06
percent against the dollar this year after losing 6.17 percent
last year and a 22.12 percent slide in 2008.
In the money market, overnight
call rates rose to top levels at 12.40 percent compared with
Wednesday's close of between 12.10 percent and 12.40 percent,
amid tight liquidity in the market.
Dealers said there were
scheduled inflows of 82 billion rupees against scheduled
outflows of the same amount.
The next outflow is of about 84
billion rupees ($997 million), scheduled for Saturday, dealers
said. - Reuters
‘Removal of barriers to unleash South Asia’s economic potential’
ISLAMABAD: Private sector-led
growth in South Asian countries can receive a major fillip and
unlock the region's vast economic potential provided SAARC
members reduce visa restrictions and non-tariff barriers besides
improving customs procedures, says a SAARC Chamber of Commerce (SCCI)
report.
The SCCI has prepared the report
in collaboration with the Federation of Indian Chambers of
Commerce and Industry and the Asian Development Bank (ADB).
The report, titled 'Key
Proposals for Harnessing Business Opportunities in South Asia,'
adopted as follow up of a conference jointly organised by SCCI,
FICCI and ADB in New Delhi in November 2009, looked at
challenges to increased trade and investment links in the
region, along with possible solutions.
South Asia, with a potential
market of 1.5 billion people, has significant comparative
advantages in industries ranging from textiles and garments, to
tourism, pharmaceuticals and information technology.
But it is also home to half of
the world's extreme poor, with 40% of its total population
living on less than $1.25 a day, the report said adding that
intraregional trade remains modest compared to other parts of
the world, and numerous impediments prevent the private sector
from taking a bigger economic role.
Cutting non-physical barriers to
trade and improving the climate for investment across borders
will encourage greater private sector activity, lifting growth,
cutting poverty and strengthening regional integration, the
report says.
Among the steps it suggests are
liberalising a South Asia visa exemption scheme, adopting a
regional motor vehicular agreement to speed up the passage of
goods vehicles across borders, and streamlining procedures at
land customs stations.
The report notes that while
South Asia has made steady progress in cutting tariff barriers,
it still needs to address non- tariff issues such as
inconsistencies in regulations, and the imposition of product
quotas.
"The South Asian region is
affected by various barriers to outward oriented private sector
led development and regional integration. It is therefore
imperative that there is a strong accent on building a robust
infrastructure and enhancing connectivity." said Mr. Iftikhar
Ali Malik, Vice President, SCCI.
"The report outlines small,
actionable steps in eliminating trade and investment barriers
that will go a long way in deepening South Asian economic
integration and bettering the business environment," said
Srinivasa Madhur, Senior Director of ADB's Office of Regional
Economic Integration, Manila.
Creating a database and
notification system for monitoring non-tariff barriers,
improving the capacity for data collection, giving companies
assistance to meet product standards, and establishing a
disputes settlement mechanism would all help improve the
situation.
Iqbal Tabish, Secretary General,
SCCI said that there was a dire need for member nations to
remove barriers to intra-regional investment, and promote
cross-border investments in areas such as hydropower, and other
energy sector projects, which could support regional trade in
energy and aid integration.
It suggests allowing foreign
direct investment in excluded or sensitive sectors and further
urges countries to conclude bilateral investment treaties,
double tax avoidance treaties and calls for a study into the
establishment of an umbrella investment body for the region. -
APP
Chicken prices may start declining after 2 months
LAHORE: The poultry industry is
at a recovery stage and after two months prices of chicken might
start declining.
Poultry expert and Executive
Director of K&N' Adil K. Sattar, expressed these views while
talking to members of Lahore Economic Journalists Association (LEJA)
at K&N's poultry processing plant near here on Thursday.
He observed that drop in the
sale of chicken due to bird flu and increase in prices of
poultry feed created sudden slump in the poultry sector and thus
the sector shrunk by 40 percent.
"This also had an impact on the
prices of chicken, however, the poultry sector is now recovering
from the crisis", he added.
About export of chicken, he said
the western countries give subsidy to its poultry sector, which
makes Pakistani raw chicken meat uncompetitive in those markets;
however he saw the potential in exports of value added chicken
products, especially to the Middle Eastern countries.
He said in order to make
Pakistani chicken products competitive in the international
market, the government needs to ensure raise in agricultural
productivity which has a direct link with the production of
poultry feed.
He was of the view that Pakistan
can enter the global halal food market, which is growing at a
rapid pace, even in non-Muslim countries.
Pakistan must establish itself
as a reliable supplier of halal food products to the world, he
said.
The local poultry industry must
continue to modernise for attaining efficiency, and thereafter
should strongly consider adding value to poultry meat if it
wants to compete effectively in the global arena.
Adil said the global halal food
trade is estimated at $632 billion and overall halal production
is estimated to be between $1.2 to 2 trillion and Pakistan can
get a sizeable share being a trust worthy Islamic principles
abiding country.
" The Middle East's annual halal
food imports are estimated at $45 billion, whereas
France alone exports is 750,000 MT of halal chicken meat to Muslim countries",
he said.
From Asia, Thailand is the biggest exporter
of halal food products even bigger than
Malaysia, which has managed to
establish itself very well as a hub of halal food products, he
observed.
He said K&N has introduced new
dimensions in poultry business and took lead in modernising the
entire poultry production chain decades ago for the promotion of
poultry in Pakistan.
He also said it is promoting the
poultry industry on modern lines, meeting international
standards and providing consumers with world-class chicken
products.
"K&N's endeavoured to move in
this direction to ensure quality and food-safety," he added.
Later, the journalists visited
the state-of-the art poultry processing plant of K&N's and
keenly watched the efforts put in the production and provision
of hygienic and high quality chicken products for local
consumers. - APP
PCA to protest against ban on sale, purchase of used computers
FAISALABAD: Pakistan Computers
Association (PCA) Faisalabad Chapter rejected the government
move to ban on the sale and purchase of the used computers along
with other accessories.
With such restrictions,
imparting of the education of information technology would
hamper to a great extent, said PCA president Mirza Tauseef
Ahmad, General Secretary Tahir Rasheed while speaking at a news
conference here Thursday.
They said that on one hand, the
government is establishing computer labs in the educational
institutions and government departments for the promotion and
development of information technology in the country, on other
hand, it is imposing ban on the used computers and accessories.
This step would nullify the government plans for the development
of information technology in the country, they added.
They said that new computer
prices available in the market are between a range of Rs 30,000
to Rs 40,000 while the used computers can be purchased by just
Rs 10,000-15,000. They claimed that on the import of a new
computers cost at least 300 US$ while on the same amount a
student and other needy people can purchase at least 8-10
computers.
They said that hundreds of the
thousands people are at present involved in sale and purchase of
used computers, they would also become constrained to close up
their business with the ban of used computers. - APP |