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June 24, 2002 Monday Rabi-us-Sani 12, 1423 No end to economic stagnancy NOTWITHSTANDING the most tumultuous events of September 11 and December 13, 2001, the continuing effects of the war on terrorism and the most heightened escalation on our eastern borders, the finance... Dreaded ITO and the unwilling taxpayer ONCE again the Central Board of Revenue (CBR) has set an ambitious collection target for itself while projecting the revenue income for the next year. While there is no likelihood of... Doing away with deficit in 5 years A LAW to end the budget deficit in Pakistan after five years may seem a distant goal. But, in a country where budget deficit has been ballooning and political and economic... The symptomatic ‘reform’ effort THE FEDERAL budget 2002-03 was perhaps the last budget presented by Mr Shaukat Aziz. Perhaps not! He might still be requested to head the finance ministry after the planned October 02... Jobbers await major change in market psychology STOCKS MAINTAINED an uppish leaning during the previous week as the investment-friendly budget and the fading fears of war with India, followed by the positive statements from the Indian high-ups, continued... Rupee keeps its sway over dollar DULLNESS prevailed in the inter bank market throughout the week. There was less buying interest, as major investors stayed off the market. The rupee managed to hold its firmness against the... PIBs worth Rs4.93bn sold ON JUNE 17, the State Bank sold 10-year investment bonds worth Rs4.93 billion in an auction. It had received bids worth Rs11.6 billion for the Pakistan Investment Bonds carrying annual coupon... Pulses, wheat lead market towards lower rim THE KARACHI wholesale commodity markets finished the post-budget week on a mixed note as some of the essential items came in for active selling for no apparent bearish reason.... Combating desertification and drought DESERTIFICATION and drought pose major threat for billions of people spread across more than 110 countries, occurring in arid, semi-arid and dry sub-humid areas of the world. Of the many climatic... Diversified crops criticial to agricultural growth THE GLOBALIZATION of economy after January 2005 when the WTO enforcement would be effected, is likely to usher in a new era of competitive marketing of goods and services pushing the... Drags on raising oilseed output THE OILSEED sector, due to ever increasing consumption of edible oil, has attained critical importance to the economy of Pakistan. The consumption of edible oil rose from 0.3 million to 1.9... Banking sector’s role in industrial development PAKISTAN, HISTORICALLY is a capital-starved economy. National savings rate of 13 per cent in the fiscal year 2001 is symbolic of the saving shortage as compared to the fast growing economies... Cooperatives : the need for a new policy PAKISTAN IS one of the few developing countries who have not paid adequate attention to the development and support of cooperatives as an instrument of economic and social development, despite the... Microcredit vs micro venture capital financing MICRO VENTURE capital (MVC) financing is more effective than micro credit financing (MCF) in improving developing economies.... A peripheral exercise JUNE IS THE month when the ritual of budget presentation takes place whether it is before the parliament or in its absence, before the press. In both cases, it is a... Current deficit, development spending: Fiscal Responsibility Law WHILE THE federal budget 2002-03 embodies numerous measures to meet the new challenges, it has also taken a long term view of the fiscal maladies plaguing the economy.... Sindh moves cautiously towards devolution SINDH IS moving ahead with caution and care towards the financial and administrative devolution in the province.... Is the economy turning around? CONGRATULATIONS to Martians, aliens who lead them and economic managers who compile their year-over-year inflation index. The rate of inflation, at 2.6 per cent, is the lowest it has been in... Revive hope for the poor THE CORPORATE barons, the mill owners, the stock brokers and the rest of the well-fed fortunate are falling over one another in their acclamation of proposals made in the federal budget... Concerns, reliefs for capital market THE STOCK market is always known to play on rumours. When the KSE opened the day after the budget, somebody passed around the word that withholding tax deduction on dividend paid...

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