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