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June 10, 2002 Monday Rabi-ul-Awwal 28,1423 Plug the leakages in the CBR In view of the chronic resource constraint one does not expect the size of the next year’s budget to show any significant expansion over the current year’s which was around Rs752... Wapda’s expenditure spiralling out of control There they go again. Wapda, which had earlier denied having filed and application for a further increase in electricity tariff, has finally been found to have submitted a petition, to NEPRA... Alleviation of poverty and the IBRD Pundits It’s no secret that Pakistan’s ongoing socio-economic malaise is to a great extent the result of its peoples’ poverty that continues to be fuelled by the increasingly inequitable distribution of wealth... Increasing reluctance to share profits The corporate sector in Pakistan is getting cleaned up. Instead of the list of companies registered with the Securities and Exchange Commission of Pakistan remaining at high 43,000, the number is... Exporting ‘harm’ to Asia WHAT is quite well known is that the high-tech revolution has radically changed man’s way of living, thinking and interacting with others. What is much less known is that the trash... Stocks calm amidst hopes of peace Throughout the last week, stocks danced to the tune of reports emanating from the tense border situation and diplomatic offensive to win peace for the warring nuclear neighbours but in the... Notes in circulation and those issued decline further On June 3, the State Bank of Pakistan injected over Rs20 billion in the money market, against a demand of Rs.22.55 billion through its reverse repo open market operation.... Rupee regains lost strength Both inter-bank market as well as kerb trading remained highly speculative during the week. After commencing the week on a dismal note, the rupee regained its lost strength on hopes of... No panic buying despite tension on the borders The wholesale Karachi commodity markets showed quietly mixed trend during the preceding week as supply and demand factors played a dominated role in setting the price trend.... Crop catastrophe insurance: a cover for farmers Agriculture is the single largest sector of Pakistan’s economy and it contributes around 24 per cent to the country’s GDP, besides engaging about half of the total employed labour force and... Wheat export and quality-testing laboratory With bumper crops in the last two years Pakistan produced enough wheat to meet the domestic needs and to export. In the present year wheat has been exported to Afghanistan. Iraq,... Cost of weeds to the economy Pakistanis economy is mostly dependent on agricultural productivity. Fluctuations in agricultural production i.e. wheat, cotton, sugar, etc. adversely influence the overall economy in the country.... LCCI’s budget proposals The Lahore Chamber of Commerce and Industry has submitted a 200-page report comprising budget proposals for the year 2002-2003 to the government, highlighting the problems faced by the businessmen and their... Security-risk to world trade An assured sense of security is the pre-requisite for any economic activity to flourish as a credible security regime results from strict adherence to law and order and motivates individuals and... Tax burden to rise in the budget Contrary to the Finance Minister Shaukat Aziz’s repeated claims that the budget for the year 2002-2003 scheduled to be announced on June 15 would be tax-free, in reality the budget is... Budget may not provide any relief The federal budget is being presented on June 15 and one gets the impression that common people, specially the fixed income groups, will receive no relief.... Focused power vision needed Contrary to its water resources and hydro power development programme, popularly known as vision 2025, the Water and Power Development Authority (Wapda} has sought the government’s permission to let the independent... Looking beyond the threshhold of loan concessions Is there no other way but to levy general sales tax on items of daily use because donors want us to do so? Will it not hurt poverty-stricken citizens the most... Building investment climate Capital is the most important resource of our times. Unfortunately capitalism is brute, ruthless and driven solely by profits, both short and long term. In the last two decades there has... Fiscal policy hurts all, helps none It is a happy news that Pakistan would finish the borrowing business with the IMF. The announcement was made by Finance Minister Shaukat Aziz on April 2 at Washington, where he...

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