November 11, 2008

Pakistan 8th biggest gold consumer

Associated Press of Pakistan

KARACHI: Pakistan is the 8th biggest consumer of gold in the world and annually imports 127 tonnes gold.

This was pointed out at a seminar on latest trends in jewellery hallmarking held here on Monday under the auspices of the Pakistan Gems and Jewellery Development Company (PGJDC).

The speakers were of the view that there is no consumer satisfaction and Pakistani jewellery industry suffers from what was described as ‘unfair competition by those who sell under-carat gold and therefore sell at a lower price’. Read More »Pakistan 8th biggest gold consumer

Low potassium may trigger high blood pressure

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ISLAMABAD: Low potassium levels are likely to trigger high blood pressure, thanks to a specific gene, says a new study.

“There has been a lot of publicity about lowering salt or sodium in the diet, but not enough on increasing dietary potassium,” said the study’s co-author Susan Hedayati, of the University of Texas (U-T) Southwestern Medical Centre in Dallas, Texas. Researchers analysed data on approximately 3,300 subjects from the Dallas Heart Study, half of whom were African American. The results showed that the amount of potassium in urine samples was strongly related to blood pressure (BP). Read More »Low potassium may trigger high blood pressure

IMF back in business- By M. Sharif

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Some of the countries facing a financial crunch including Pakistan preferred to generate capital from the international financial market. Instruments like GDRs, privatisation proceeds and other methods were used; this was because there was enough liquidity in the international financial market to meet the requirements Read More »IMF back in business- By M. Sharif

PAKISTAN’S BANKING SECTOR: Rate of returns and deposits

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Rent Laws in Pakistan Part-III

Fungus, the bogeyman-Anjum Niaz

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The writer is a freelance journalist with over twenty years of experience in national and international reporting.

Fungus is a fictional character in a children’s book. His job is to scare people. He belongs to the Society of Bogeymen who prefer stink and sleaze as opposed to ‘Mr & Ms Clean.’ Sliminess is their credo. Since life imitates art, Fungus is a good fit for our current cabinet of ministers. Men and women who live on decomposed dirt and stink up the corridors of power. The kingdom of Fungi thrives by attaching itself to the establishment guys. They are the mushrooms, Read More »Fungus, the bogeyman-Anjum Niaz

Miles of smiles around the world

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For children who have nothing much to laugh about when outside their school premises, a morning of laughter instead of the daily dose of lessons which will hopefully give them something to smile about later on in life, came as a very pleasant surprise, thanks to a visiting Spaniard travelling around the world on a cycle under the banner of ‘Miles of Smiles Around the World!’ (MOSAW).
Read More »Miles of smiles around the world

Is there a forex reserve scam in Pakistan?

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By Farrukh Saleem

ISLAMABAD: As of February 2008, according to data compiled by the State Bank of Pakistan (SBP), net foreign exchange reserves held by the SBP were $ 11.9 billion and that of the

commercial banks were $ 2.1 billion.

Over the following nine months, net foreign exchange reserves held by the SBP have gone down to $ 4 billion while that of the commercial banks have actually gone up to $ 3.28 billion. In essence, the SBP has lost $ 7.88 billion while the commercial banks have gained $ 1.18 billion. In other words, the SBP has surely lost but there is no evidence that Pakistani citizens have taken their dollars out of their dollar accounts and sent them abroad.Read More »Is there a forex reserve scam in Pakistan?