Telecom sector revenue swells over to Rs 197b

STAFF REPORT IBD: Half yearly revenues of the telecom sector have reached all-time high of Rs 197.68 billion during the first half (July-December 2011) of current financial year. The second quarter revenues for telecom sector stood at 99.4 billion, that’s all time high in a quarter, registering a growth of 9.1 percent over the corresponding quarter in previous year.The statistics of PTA show that this growth in telecom revenues, despite declining ARPUs and stiff competition, is due to higher

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Pakistan back-paddling on nano-technology sector

STAFF REPORT IBD: The sitting government though apparently claims to be serious towards achieving progress in science and technology and claims to have allocated or spent billions of rupees on a number of projects in this vital field which can guarantee the country’s very survival, however, certain projects of the same nature have been shelved eating up a huge chunk of budgetary allocations mainly due to the negligence of government authorities or the project executives that had lacked ability

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Farm sector lacks efficiency, global competitiveness

STAFF REPORT IBD: Despite having immense potential, the agriculture sector of Pakistan lacks efficiency and global competitiveness, causing dent to self-sufficiency in production of various farm produces, said Asad Umar, Chairman Pakistan Business Council while speaking to members of Agricultural Journalists’ Association (AJA).In his presentation on ‘Agriculture – a mainstay of Pakistan’s economy’ Asad Umar said that production of various farm products has been as low as 90 per cent if compared

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Pak horticulture sector needs a quality boost

STAFF REPORT IBD: Pakistani agriculture products are the best in the world, yet the sector has not excelled to its true potential. The focus of untrained people in the horticulture field has been on increasing production, rather than on improving the quality of the product."This is a big loss – roughly 30 per cent of Pakistan’s total vegetable production and about 40 per cent of fruits are being wasted," said CEO Harvest Trading and Member Export Islamabad Chamber of Commerce and

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WWBL enters Pak banking sector

STAFF REPORT LHR: Waseela Microfinance Bank Limited (WMBL) has started its operations in Pakistan with the opening of its first branch in Islamabad.The Bank has been established to cater the need for banking and financial services that are simple and easily accessible for the unbanked and under-banked. WMBL will also introduce mass market financial products for providing more choices and benefits to the people of Pakistan.Speaking at the inauguration, Ghazanfar Azzam, President and CEO, Waseela

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Agri sector gives boost to economy: SBP

STAFF REPORT IBD: The economy has shown modest improvements in first six months (July-December) of fiscal year 2011-12 because of the better performance of the agricultural sector, says the State Bank of Pakistan (SBP) in its second-quarter report on the state of economy.However, ample availability of key staple crops and less-than-anticipated supply disruption due to the floods helped contain inflationary pressures in July-December of FY12.According to the report, developments in the first half

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Pakistan rich in engineering sector

STAFF REPORT IBD: Pakistan offers diverse experiences and opportunities for engineers sector as the country has a range of industrial activities from oil and gas to textiles, sugar, infrastructure etc which not many countries can offer.Ali Hamdani, Managing Director and CEO Siemens Pakistan, said this speaking as the chief guest at the recently concluded 27th Multi-Topic Symposium organized by the Institution of Electrical and Electronics Engineers Karachi.He said Pakistani human resources are

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Smooth gas supply to fertilizer sector to save Rs23 billion

STAFF REPORT LHR: The government can save up to Rs23 billion by supplying gas to fertiliser sector as compared with power sector, while the ill-conceived gas load management plan has badly hampered manufacturing of urea and hence dealt a severe blow to the agriculture sector.Rasheed Lone, CEO, Dawood Hercules Fertilizers Ltd (DHFL), and Ahmed Jaudet Bilal, CEO, Agritech, said this at the media briefing recently arranged here.They also highlighted the negative impact of one of the longest

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Unjustified heavy taxes on telecom sector

It still goes unnoticed that the telecom sector in Pakistan is paying 19.5 per cent as government taxes and this ratio is higher than that of other countries of the region. India and Bangladesh have respectively imposed 10.3 per cent and 15 per cent taxes on their telecom industries. While on the other hand, the Pakistani telecom operators are offering the lowest call rates in this region and telecom sector has added Rs 510bn to the national exchequer since 2004. There has been a strong

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ICT R and D Fund plans to finance IT sector survey

STAFF REPORT IBD: The National ICT RandD Fund has planned to finance a comprehensive survey study of Pakistan Information Technology (IT) and Enable Services (ITES) industry in order to collect database of all operating companies of all sizes including key economic indicators, business volume and turnover, their technical and human resources, and rudimentary information.This survey study will not only be an important headway towards streamlining the industry and its players, but it will also

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Static farm sector threat to food security

STAFF REPORT FBD: The agricultural productivity of Pakistan remained stagnant for the last decade, raising a question mark over the food security amid the ever-increasing population."Due to lack of value chain, marketing and traditional ways of farming are the main hurdle to the increment in agriculture productivity," University of Agriculture, Faisalabad Vice Chancellor Prof Dr Iqrar Ahmad Khan said this while talking a US delegation that has recently visited the varsity.He said that

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Agriculture sector growth slows down

STAFF REPORT IBD -The agriculture sector is widely considered the backbone of the countrys economy. But official data show the growth of this sector has slowed down in recent years, largely due to water related woes. Growth of the countrys agriculture sector slowed down to an average of just 2.7 percent in the first decade of this Century as compared to 4.4 percent in the 1990s and 5.4 percent in the preceding decade, according to the Pakistan Economic Survey 2010-11. Floods make headlines and

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Telecom sector- anchoring Pakistans economy

By Kunwar Khuldune Shahid Via ProfitPakistan’s teledensity touched 68.39 per cent – a 6.7 per cent rise since 2010. Mobile subscribers at the tail-end of 2011 were estimated to be around 108.9 million – flaunting a growth rate of 10 per cent; which is twice as much as that of the previous year. Number of cell sites has also increased from 30,126 in June 2010 to 31,303 when the data was collected at the end of last year. Cellular industry’s ARPU also depicted a healthy increase from $2.41 in

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Dismal performance in farming sector

The year 2011 has been marked as black year’ for agriculture sector as imposition of General Sales Tax on agriculture inputs and withdrawal of subsidies have multiplied the cost of farming in the country. Major role in this critical situation has been by the government as on one hand, the withdrawal of subsidies and levy of GST has increased the input cost by over 35 per cent, while on the other hand agriculture produce prices , except wheat, dropped by nearly 25 per cent that caused huge

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