Archive for category Economy
Water flow in rivers and water storage down to minimal, who is responsible
Posted by K. Shahzad in Agriculture, Basic Needs, Economy, National on January 25th, 2010
When compared to the last year the water flows in the rivers this year are very much about more than 34% less. Also storage overall is about from 32% to 40% of total capacity. Indus River System Authority (ISRA) is planning a meeting to revise the water management plan for this year and this meeting will held on 1st Feb, 10.
The water flows in four major rivers declined from 10,000 to 37,000 cusecs, which is huge decline. Also the decline in the Mangla and Terbela dams is 34% less than the next year.
Country is now facing huge water shortage, this shortage is now most likely to effect the agricultural activity around the country.
The thing here to think is untill when we will be depending on Mangla and Terbela dams. Have government thought something about starting the new water storage projects. Now its very much necessary because India is now in implementation phase of many dam on same rivers which take water to Pakistan. So naturally in future we will have to make sure that none of water which come in go to the sea but its stored in many water reserves.
If situation stays the way it is and more water management projects are not thought of, it would definitely be more hostile food commodities and power shortage in the country.
There are lots of things which need to be planned from now to survive after 10 years of time, nearly no planning for water, gas or power is going on. Looking at the on going increase and expected increase in demand of these all, the revolutionary development project are now due. God bless this country with a capable leadership which manages every thing as required.
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Paypal’s availability in Pakistan
Posted by K. Shahzad in Economy, Finance, National on January 9th, 2010
Paypal is an online merchant, an e-commerce network help people in paying each other online and withdraw money to their bank accounts. It is very easy to use and can be easily integrated with websites and also can be used by professional. Now this network is most widely used in the world and no other even come closer.
Pakistan is missing from List
Problem is Paypal still need to list Pakistan in the list of countries who can use this service. Pakistanis now suffering much from it. For IT services online most people like to pay professionals via paypal but due to they didn”t contracted with Government of Pakistan and also Government of Pakistan done no effort in this regard Pakistan is missing lots of potential money inflow. PayPal accepts accounts from lots of less developed countries than Pakistan, even India got able to get the enlisted on the accepted countries on PayPal but our government or finance ministry have not even thought of it.
People who are suffering most are the IT professionals, Marketing firms, e-commerce businesses, online service providers like hosting companies, website and blogs owners etc. If Government do something about that it would be very much good in favor of people of Pakistan, on other hand PayPal concerned must also think about it, as they are loosing much of revenue by not listing Pakistan.
Moneybookers.com is also an alternative, but they are not too big as paypal also used very much less than them. But if moneybookers.com can do that, why don’t PayPal. An effort has to be made in this regard by concerned authorities. If Indians can use this service than we also need to get on the list, also it is much in interest of our development.
Hope my this post reaches to some authorities and makes much of difference. Also hope that things get much better here in Pakistan too.
US dollar price hits all time high in Pakistan
Posted by K. Shahzad in Economy, Inside Story, National on January 7th, 2010
Open market buying price of US dollar hit all time high of over 85 Rupees per unit. US Dollar is constantly declining in the international price but its price is Pakistan continued to rise. Also in the inter bank it was being sold at all time high of 84.92 Rs per unit.
Dollar have actually risen up about 25 Rs in just in period of last two years by coming to price of 85 from just Rupees 60. It must also be kept in mind that before this US dollar price had taken about years to rise just Rupees 20 in the period of over 10 years when the USD price was on the way to 60 Rupees per unit from 40 Rupees per unit. Fact is that in International market still US dollar is declining but Pakistani Rupee is declining at more pace. We can blame the current security situation and the failed policies of current administration for this downfall.
OGDCL Pakistan on the road to failure in achieving targets of 2009- 2010
Posted by K. Shahzad in Economy on January 4th, 2010
OGDCL Pakistan
OGDCL is an oil and gas company which is ran by Government of Pakistan. It controls large amount of oil and gas reserves of the country totaling up to the 45% of gas and 35% of the oil reserves of the country. This company is also responsible for research and development in the sector. The company had a target of digging out 42 wells in current financial year 2009-2010 but is lagging well behind the target and will most likely will be unable to achieve the target. Company have been able to dig just 6 wells up till now in this year and need to dig up about 36 more in remaining period of less than 6 months to achieve the target.
The oil production share of the company is 61% of whole oil production of the country and gas production totals up to 25% of all natural gas production of the Pakistan. Due to being not able to keep up with the targets company’s oil and gas production is decreasing and they are not being able to keep up with the production targets. Their production have even declined over the past few months.
Company was also unable to achieve their oil production targets and this year they had to achieve the number of drilled wells target but lagging too much behind. Company spokesman told media that the reason for this was the stay orders by court on some drilling sites disputed with private companies and secondly the bad security situation in lots of areas make them unable to operate.
Company have marked about 23 more sites for drilling but need to spot out about 13 or more sites to dig for oil and gas.
KSE-100 index falls, economic downturn continues
Posted by K. Shahzad in Economy, National, Stock Exchange on October 21st, 2009
KSE-1oo index dropped 3.36% and closed at 9247.78 today. Over the past month or two after the security situation became better in the country, 100-index was increasing significantly and lots of foreign investment was coming in seeing the improved security situation. But soon after the security situation in the country worsen again, the foreign investment again not coming in and 100-index fell significantly.
As there were serious attack threats all over the country and all education institutions were closed looking the bad security situation the foreign buyers’ trust jolted. As Pakistani security forces are at decisive war against the militants hiding in South Waziristan, on other hand these militants are targeting the normal public in the country to pressurize the security agencies and make them give-up on war. This situation have affected the economy of country significantly.
Foreign investment is back in Karachi Stock Exchange
Posted by K. Shahzad in Economy, Happenings, National, National Development, Stock Exchange on September 2nd, 2009
As soon as government ensured the improvements in the energy sector, this have increased the confidence of foreign investors and Karachi stock exchange have observed good investment by foreigners. In last month, Aug 2009 the money foreign buyers bought shares of about $95.3 million and this month on alone 1st Sep, 2009 the investment of 21.29 million was observed from the foreign investors.
More over KSE-100 index was ended on its highest of the year at 8,878.64 today. This is big improvement and if the political parties and country’s leadership don’t come up with any other issue this confidence by foreign buyers will further strengthen and loads of foreign investment is expected. As this year KSE-100 index already gained 51.38% , let me remind you that it had lost about 58.3% in the last year.
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