Pakonomy

1)World Bank allocations not precedential for Pakistan

In the current year the World Bank has allocated an unprecedented amount of $1.8 billion for Pakistan’s development projects, mainly in energy sector.

 2)Zero-point trade gate reopened by Iran on Pak-Iran border

Zero-point trade gate reopened by the Iran Government at Pak-Iran border in Taftan area of the Chagai.

 3)$2 billion mark crossed by services sector’s deficit

During first nine months of the current fiscal year, the country’s services trade deficit crossed $2 billion mark followed by a hike in imports and a slowdown in exports.

 4)’Positive list’ of items from India expanded according to Trade Policy 2011-12

‘Trade Policy 2011-12′ announced by the Ministry of Commerce (MoC), according to which ‘positive list’ of importable items from India has been expanded further by 18 additional items. The government has also allowed export of liquor to non-Muslim countries.

 5)Russia, Pakistan expected to enhance trade volume

Pakistan values the relationship with Russian Federation and its support in various fields especially large scale industrial sector like Steel Mill. Russia is in Asia and near to Pakistan as compared to other countries but share of Pakistan export in Russian import is negligible only 0.08% while share of Russian export in Pakistan import is 0.06% .Both countries ought to work to enhance low volume of bilateral trade.

6)Import of used cars provided with relaxation in depreciation allowance

Owing to the government’s policy of relaxation in the depreciation allowance on import of used cars the country’s auto industry fears huge loss of employment in its vending sector. The import of used cars has resulted in the loss of scores of jobs in the auto parts markets, and also closed several units.