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December 17, 2001 Monday Shawwal 1, 1422 Enron’s collapse unveils dark face of free market ENRON, widely known as the champion of deregulation and free market, ended up in the first week of this month as the largest bankruptcy in American corporate history.... ST regime to make life tougher As the government has not been able to increase tax revenues rapidly by taxing the income of the people within a largely stagnant economy with slow rise in incomes, it has... An opportunity of lifetime For the past two years, the military government has been lurking in the dark. Most of its efforts to revive the country’s economy that has been proclaimed as vital part of... Rebuilding Afghanistan? Rigid optimists among us are adamant that the West is going to invest a colossal $6 billion to $25 billion into rebuilding Afghanistan. The assertion is that the most convenient of... No frittering away the Magnanimity The bonanza days are back again. Every one and his auntie is making a beeline for Pakistan with bags stuffed with dollars. The IMF has approved a PRGF programme of three... Attack on Lok Sabha halts KSE rally Terrorist attack on Indian Parliament killing over a dozen people halted the market’s fragile weekend rally as investors hastened to take profits at the available margins fearing acceleration in border tension... Rupee recovers slightly The rupee/dollar parity showed an erratic trend this week. In the inter-bank market heavy payments by some local and foreign banks exerted downward pressure on the parity, which opened the week... Activity dampens on commodity market Trading activity on the Karachi wholesale commodity markets during the last week was relatively slow as commercial houses did not make fresh covering purchases owing to Eid holidays.... Triple benefits of zero tillage The Extension Department of the Punjab government is making a shortsighted and potentially dangerous attempt to undermine the growing popularity of zero tillage.... Why export lint cotton at lower rates What is the rationale behind selling a valued-added product to a foreign buyer at a much lower rate than to the local producer of the same end-products is difficult to understand... Illegal Bt cotton cultivation in India The Indian government’s inability to take tough action after the discovery of genetically modified (GM) cotton growing in its fields shows how helpless it is in the face of an onslaught... Production of poison-free agricultural commodities A number of countries had placed a ban on import from Pakistan including cotton, fruits and vegetables in the recent past as most of these products were found to be ‘poisonous’... World economic report Kuwait was once famously described as an oil well masquerading as a country. The analogy is a little unfair but it does illustrate the extent to which the emirate is dependent on oil. Its reserves are more than ... Garment industry and engineers “Wealth comes only from production.” This statement by Professor William Graham Sumner was made in 1883 while delivering a lecture at the Yale University.... WTO and its aftermath So it has finally taken place and Mike Moore had a cynical remark to make at the end of what has been called his hard work. Hardly.... No signs of FDI coming Pakistan has so far failed to attract foreign direct investment (FDI) and portfolio investment and there are no signs of improvement in the near future, largely due to political uncertainty and... Karachi’s revenue collection data: points to ponder Poverty is spreading its tentacles, far and wide, in urban and rural areas of Sindh, as acute water shortage has hit hard the agriculture. The industrial production too, is going down... Proposed amendments in Companies Ord, ’84 The Securities and Exchange Commission of Pakistan (SEC) last month put up for public comments, the amendments that it has sought to make in as many as 90 sections of Companies... SBP cuts average yield on Treasury bills The State Bank of Pakistan (SBP) on December 12, 2001, cut the maximum yield on Treasury Bills by 13 basis points to 18.16 per cent for six months and by 29... Making the banking sector competitive Pakistan’s banking sector, largely dominated by public sector banks, suffers from the high intermediation costs, resulting from overstaffing, large number of loss-incurring branches, and a large non-performing loan portfolio. These factors...

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