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June 17, 2002 Monday Rabi-us-Sani 5, 1423 Murky outlook for a turn-around According to the Economic Survey of Pakistan (2001-02), the country was denied the much awaited economic ‘turnaround’ during the outgoing year because of the events of September 11 and December 13... Why food can’t be a human right? The second World Food Summit held in Rome from June 10 to 13 has failed, as was generally expected, to address the real issues that hunger causes in the Third World... A new watershed for industries When the average import tariff in Pakistan comes down to 25 per cent from 1st July it will mark a water shed in Pakistan’s economic history. That would mean the tariff... Recipe for textiles in WTO regime Global economic environment will be changed in the next two or three years with the implementation of various agreements of the World Trade Organization (WTO).... Bomb blast intercepts pre-budget rally The bomb blast close to the US Consulate intercepted pre-budget rally on the stock market last week as investors hastened to cash in on the available margins fearing further decline.... Notes in circulation and those issued show increase On June 12, the State Bank of Pakistan sold Rs4.105 billion worth of six month Treasury Bills. It received bids worth Rs6.850 billion. The weighted average yield on six month treasury... Currency market dull Dull activity was noticed in the currency market this week. However easing of tensions on the border released pressures on the rupee dollar parity and helped the rupee to gain marginally... Prices of some essential commodities up The Karachi wholesale commodity markets showed orderly price changes in the pre-budget session last week as supply position remained fairly comfortable, thanks to the steady arrivals from the upcountry trading centres.... AOA to hit poor farmers The World Trade Organization (WTO) is the only international body dealing with the rules of trade between nations. The WTO is home to a series of agreements, out of which Agreement... Growing cotton in prevailing drought Ignacio Rodrmguez Iturbe of Venezuela won the Stockholm Water Prize, 2002 for his scientific contribution to the understanding of the interaction between climate, vegetation, soil structure, surface water, floods and drought.... Marketing livestock products Despite commercialization, the role of livestock in the economy of Pakistan reflects traditional rural orientation. The primary purpose of livestock raising is to support the crop farming operations with income generation.... Equity market and the ‘feared’ month of May For the last several years, the month of May has been described as the most dangerous month for the equity markets in Pakistan.... Import of vehicles The requirements of transport for domestic and public use have now become the necessity of Pakistan primarily due to growth in the population and business dealings taking place in primary, secondary... Money-laundering quagmire The UN conventions against illicit traffic in narcotics, drugs and psychotropic substances are the first multi-lateral, legally-binding instruments to address the issue of money-laundering.... World commodity report Gold prices remained high at $326 a troy ounce in the London market, as the steady decline in US stock markets and the dollar offered ongoing support for the precious metal. Share prices came under increased pressure after a bleak earnings outlook...... CBR and the law It seems that the Central Board of Revenue (CBR) will never pay heed to the pronouncements of the higher courts that legal interpretation of law is not its prerogative.... Textile leads growth in industry In backdrop of an economic growth of 3 to 3.5 per cent during the current fiscal year, textile remains the leader showing a growth of 4.4 per cent in nine months... Audit skills and good corporate governance A great deal of debate on corporate governance in Pakistan which we hear and see these days started in the UK and the USA many years ago.... Rescuing the stifled farmer Already enduring the unbearable costs of living, hapless people have come under yet another hammer of utilities’ price hike after two more upward revisions of POL prices.The hardest hit has been... Apparent boom and the bitter truths Soon after assuming power in 1999, President General Musharraf had announced a 7-point agenda of his government. Economic recovery and improvement was an important point in this agenda....

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