VPCMLVariable Prime Cobe Membrane Lung
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Key news flows during the week included 1) Prime Minister Nawaz Sharif announced various tax incentives for businesses to boost investment activity in the country, 2) PTA selected VPCML, a foreign consortium, as consultant for the upcoming 3G/4G license auction, 3) the GoP and ADB signed a US$430 million agreement to strengthen the BISP program, 4) the PM ordered withdrawal of a notification, which allowed an increase of up to 15% in medicine prices and 5) foreign exchange reserves dropped to US$8.8 billion while SBP reserves fell to a 12-year low of US$3.4 billion.