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May 20, 2002 Monday Rabi-ul-Awwal 7, 1423 Dollar losing luster The dollar is losing its lustre as the rupee is gaining strength. Will Pakistan’s exchange rate remain stable?... Too many factors deter foreign investment The World Bank President, James Wolfensohn, has said that terrorism is not unique to Pakistan.This statement has gladdened the hearts of Pakistani officials and others interested in promoting investment, particularly foreign... PRGF: a prescription for poverty? The IMF review mission which concluded talks on the second review in Islamabad last week has commended the authorities for their ‘continued prudent, macroeconomic management despite a volatile international environment and... Thal Canal: a constitutional deviation The Indus River System Authority (Irsa) has accorded certification to the controversial Greater Thal Canal Project with a 3-2 majority, rejecting the objections of the Sindh member.... What Pakistan should seek: trade or aid? It is generally believed that the foreign economic assistance which Pakistan received from time to time is a heavy constraint on the process of development because every year the country has... Thickening war clouds eclipse jobbers’ vision The war hysteria jolted a perfectly sound market at the fag-end of the last week as conflicting rumours about the Indian attack triggered panic-selling from all and sundry. There was confusion... Demand, time liabilities up On May l5, the State Bank of Pakistan mopped up Rs38.7 billion through sale of six-month and one year Treasury Bills. It kept the maximum yield on these bills unchanged at... Rupee keeps edge over greenback Both the inter-bank market and the kerb dealing observed lacklustre trading this week. Leading investors remained in the sideline, while small investors entered the market to sell dollars. In the inter-bank... Commodities stay strong The Karachi wholesale commodity markets showed quietly mixed trend during the preceding week, and the prices remained stable around the previous levels as supply gaps were quickly filled in through the... Replacing cane cultivation with sugar beet Instead of coming up with a rational plan to overcome the worst-ever water shortage in the country, the government has decided to change the cropping pattern from sugarcane to sugar beet... Natural-coloured cotton More than four decades ago, natural-coloured brown cotton was commonly grown in Pakistani villages for domestic use on small scale, in most parts of the cotton-growing areas. It was derived from... Coconut’s potential of income generation Indonesia and the Philippines are the world’s two biggest coconut producers with India being third on the list. Papua New Guineas leads in the Pacific region, Tanzania in Africa, and Mexico... SAP being closed because of irregularities The present government has ultimately decided to scrap the much-maligned and one-time a prestigious $8 billion Social Action Programme (SAP) because of corruption and gross financial irregularities but without punishing or... Disposing exportable surplus lint Pakistan is expected to have a large exportable surplus of over a million bales of lint during the current season, ending Aug 31, 2002 but it may not be able to... Clean production, profitability: setting the focus right The doubling of world’s population over the next 50 years is likely to be a challenge as to how to cater to the requirements of rising levels of consumption without putting... World commodity report Gold prices have risen in recent weeks, reaching a two-year high of $312 on April 30. It has benefited from the US dollar weakness, stock market volatility and solid market fundamentals..... Revenues not expanding according to demand The current expenditure of the federal government is far in excess of the revenue collected by the Central Board of Revenue (CBR), even if the interest payments are excluded from the... Company AGMs should be more meaningful The Securities and Exchange Commission of Pakistan (SECP) has decided to make its presence felt at the shareholders’ meetings of listed companies.... GST unfavourable to growth The present government has correctly emphasized growth and poverty reduction as the main national economic objectives, as growth without poverty reduction would not be very meaningful in Pakistan’s economic scenario.... PIA: strategies of another kind Let us begin with a reference to Kenichi Ohmae who in his book ‘The Mind of a Strategist’ says, ‘Great strategies like great works of art or great scientific discoveries call...

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