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 Articles & Letters[1-4 of 4 stories]  
 Articles   |   Letters  

Solutions to tap real tax potential
ARTICLE (July 30, 2010): We have been pointing out time and again that the actual tax potential of Pakistan is not less than Rs 4000-5000 billion, but during the budget announcement, the target for the current fiscal year was fixed at much lower figure of Rs 1667 billion (tax-to-GDP ratio of 9.8%). This shows how little Dr Hafeez Shaikh understands the potentialities of out tax base.



Afghan transit trade and smuggling
ARTICLE (July 30, 2010): There was a time when cargo exposed itself to possible damage due to perils of sea as it was mostly used to be shipped loose. If not covered by marine insurance policy, there was no way to recover, albeit partly, the losses on account of damage to cargo.



Chinese businesses became part of Spanish urban life
ARTICLE (July 30, 2010): Practically every neighbourhood in the Spanish capital Madrid has at least one shop like Ana's. Ana is not her real name, but like many Chinese entrepreneurs in Spain she uses a Spanish first name, which is easier for her clients to remember. Ana's shop on Colombia Street in north Madrid displays a sign that says "foodstuffs," but it is more like a mini-supermarket, offering products ranging from cleaning supplies to toiletries at rock-bottom prices.



Partly Facetious: Raza is the brains while Malik is the muscle
ARTICLE (July 30, 2010): "The country is in mourning."



Afghanistan-Pakistan transit trade - a few clarifications

ARTICLE (July 29, 2010): Afghanistan is a land-locked country and we are obliged to provide it with access to seaports under our international treaty obligations. Before I start writing on the issue, it would be appropriate to set in proper context the role of Pakistan for Afghan Transit Trade. Afghanistan has similar transit trade agreements with following countries: Iran, Tajikistan, Uzbekistan, Pakistan.




Weak government, strong generals
ARTICLE (July 29, 2010): In which other functioning democracy an army chief's appointment or extension in service gets as much importance as has the extension given to COAS General Ashfaq Pervez Kayani? None. The reason is simple. In democracies the power resides with elected governments which, like in the case of our next-door neighbour India, normally decide military appointments on the basis of seniority principle, and announce the same in a routine, unobtrusive way.



Harmonised commodity trading system: Leading issues in interpretation of customs tariff headings

ARTICLE (July 29, 2010): Problem area: The use of tariff codes to identify goods is not confined to customs laws. Excise, VAT or GST laws and regulations also commonly refer to tariff headings to determine the tax treatment of specific categories of goods. Income tax laws may as well, although more rarely.




No vacancies: Australia rolling up welcome mat
ARTICLE (July 29, 2010): There are a couple of lines in the national anthem that few Australians can sing with any real conviction. "For those who've come across the seas, we've boundless plains to share. With courage let us all combine, to advance Australia fair." Australians tell opinion pollsters that the plains are far from boundless and the population is growing far too fast.



Partly Facetious: Who's afraid of living life without false illusions?
ARTICLE (July 29, 2010): "Who's afraid of Virginia Woolf?"



Summing up by-elections
ARTICLE (July 28, 2010): The by-elections held in Punjab, NWFP and Balochistan this year indicate interesting trends that need to be taken note of. Voter turn out was generally lower than in general elections. The PPP and PML-N candidates, who won, managed to get fewer votes this time indicating a possible shrinkage in the two parties vote bank. While the two parties, ruling at the centre and in Punjab respectively, won most of the seats they contested, there were narrow wins at places.


  

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The Rupee
Interbank closing rates for dollar on Thursday.
BuyingRs 85.65
SellingRs 85.70
All-round fall
8315.55  17.85
Sectoral Indices 
Market at Close
BRIndex-30 8,309.88
KSE-30 Index 10,417.37
KSE-100 Index 10,438.66
LSE-25 Index 3,357.35
ISE-10 Index 2,648.85
Gold Per 10gm 32,614.00
KCA Spot Rate 6,200.00
Libor Rate 0.67769
World Indices
Index Closing Chg%
DJIA 10,467.16 0.29
Nasdaq 2,251.69 0.57
S&P 1,101.54 0.41
FTSE 5,313.95 0.10
DAX 6,134.70 0.72
CAC-40 3,651.91 0.50
Nikkei 9,696.02 0.60
H.Seng 21,093.82 0.01
Sensex 17,992.00 0.19
NY Closing
Euro 1.3075
Sterling 1.5611
Swiss Franc 1.0404
Yen 86.7150
Gold 1169.50
Cotton 76.910
Oil 78.31
Economic Indicators
Annual2008/09
Foreign Debt $50.1bn
Per Cap Income $1046
GDP Growth 2.0%
Average CPI 20.77%
MonthlyJune
Trade Balance $-1.40 bln
Exports $1.82 bln
Imports $3.22 bln
WeeklyJuly 29, 2010
Reserves $16.701 mln
 











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