June 2016

Pakistani car sales rise to 167,507 units

KARACHI: Sales of locally produced cars swelled to 167,507 units in July-May 2015-2016 as compared to 136,723 units in the same period of last fiscal year.

Low interest rate, improving law and order situation and overall improvement in country’s economic situation can be attributed to rising sales of cars, said Mohammad Tahir Saeed at Top Line Securities.

Toyota Corolla, with longest delivery time, continued to be the highest selling car with the sale of 53,410 units as compared to 46,680 units last year.

Combined sale of Honda Civic and City remained weak, far lower than Corolla, and stood at 23,800 as compared to 21,134 units, revealed figures released by Pakistan Automotive Manufacturers Association (Pama).Read More »Pakistani car sales rise to 167,507 units

Remittances growth slows to 5.6pc

Overseas Pakistanis sent home remittances worth $17.841 billion during July-May 2015-16, reflecting a year-on-year growth of 5.6 per cent, the State Bank of Pakistan (SBP) said on Friday.

Remittances stood at $16.898bn during the same period of the preceding fiscal year.

However, this year’s growth rate was much lower than the 17.9pc recorded in the 11-month period of 2014-15.

Remittances are expected to touch $19bn during the outgoing fiscal year, with the addition of another $1bn this month.

The country’s dependence on Arab countries for remittances has further increased this year. Of the total, about $11.505bn (64.5pc) was remitted from the region.

The region is the biggest importer of manpower from Pakistan but the trade with the region is highly imbalanced and is vastly in favour of Arab countries.

The 11-month remittances were higher than the foreign exchange reserves held by the SBP built on borrowing from international financial institution (IFIs) and raising dollars through selling of bonds in the international market.Read More »Remittances growth slows to 5.6pc

AFGHAN REFUGEES IN PAKISTAN

ALI SUKHANVER

Ali display picHas anyone ever thought of those wretched ones who migrated to Pakistan from Afghanistan almost three decades back? Will the Ashraf Ghani government say them welcome if the government of Pakistan sternly decides to push them back to the land they actually belong to? And what would be the choice of these refugees if they are given an option to stay in Pakistan or to go back to Afghanistan? There are countless questions regarding the issue of Afghan refugees in Pakistan. These Afghan refugees started coming to Pakistan somewhere in 1979. Those were the days when the whole of Afghanistan had turned into a bloody battle-field and life for the innocent people who were neither among the Taliban nor with the Russian forces became simply a blazing hell.  After a long period of ten years, in 1989 the Russian troops had to say good-bye to the Afghan lands but even after their withdrawal, peace remained an unfulfilled dream for the people of Afghanistan. There had been a state of civil war in Afghanistan. The Taliban had been trying their best to get hold on the whole system and somewhere in 1996 they succeeded in capturing Kabul and establishing the Islamic Emirate of Afghanistan. Story did not stop here. US had a very old dream of ruling over Afghanistan through its proxy-rulers and it always wanted to bring India into the Afghan scenario as the representative of US but this situation was certainly never acceptable to Pakistan. The Taliban were also of the opinion that no foreign forces had any right to intervene in Afghan situation. A state of clash and conflict continued for many years and at last the US and NATO forces entered Afghanistan making the 9/11 attacks the basis of Read More »AFGHAN REFUGEES IN PAKISTAN