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August 26, 2002 Monday Jamadi-us-Saani 16,1423 Uncertain future of the rupee After purchasing $7.7 billion through inter-bank deals and from the kerb market, the Governor of the State Bank of Pakistan, Dr Ishrat Hussain, has announced the end of such open purchases.... SECP-KSE tussle more about power The tussle between the Securities Exchange Commission of Pakistan (SECP) and the Karachi Stock Exchange (KSE) is more about power than progress. In the sitting 18-member board of directors, the stock... Revenue targets and collection experiences The news item that the revenue targets for the current financial year may be revised was not surprising in its subject matter as it was in its timing. For downward (never,... ‘Hawala’ mode of banking: a key factor in money-laundering Among the methods terrorists world-wide use to move money from regions that finance them to target countries some hardly leave any traceable trail. As regulators learned recently, one of the weak... Dividend-driven support adds Rs20bn to market capitalization An air of optimism prevailed on the Karachi Stock Exchange during the preceding week, as the buying euphoria created by corporate announcements from some mega companies, notably the Pakistan State Oil,... Banks go for discounting at higher levels in July On August 21, the State Bank of Pakistan mopped up Rs24.64 billion from the auction of 3-month, and 12-month Treasury Bills. The bids of Rs41.95 billion received for six-month bills where... Rupee stays firm against dollar No major development was noticed in the currency market. Rupee continued to display strength over dollar during the week. In the inter-bank market, the dollar moved in the narrow band and... Essential items depict rising trend A price flare-up in guar highlighted the trading on the wholesale commodity markets during the previous week, giving a pleasant surprise to even the most well-informed commercial and brokerage houses.... Corn: desirable sowing time varies Spring is the most suitable season for growing corn, moong beans and sunflower. The corn has been introduced into the old world from the new one like many other crops, for... Smuggling triggers meat shortage in local markets When the country’s livestock sector is busy in finding new avenues in foreign markets to boost exports, there are reports regarding the shortage of beef and mutton in the country. It... Grading in marketing Grading is required at many stages of marketing of both raw material and processed products. The size and quality may vary, It is,therefore, imperative to sort the products into lots which... Why investment is shy in mining The mineral sector has the potential of cutting import bills of the country as well as to boost exports. The government seems to be quite aware of the potential of the... Wapda’s performance in power sector Pakistan’s agricultural, industrial and eventually economic growths rely upon the development in water and power sectors. Unfortunately, Wapda’s performance, particularly in the power sector was deteriorating due to political interference and... World economic report Hong Kong is undergoing its second downturn since the Asian financial crisis of 1997-98. Gross domestic product last year grew only 0.2 per cent compared with 10.4 per cent a year earlier... US capitalism: an icon shattered? American brand of capitalism is under heavy clouds of despair and needs some correction before it brags about its financial supremacy before the world. It needs to reassert itself in the... Funds for 10 mega projects ensured Ten mega infrastructure development projects costing roughly Rs60 billion, including the Karachi Northern Bypass Project and the Karachi Layri Expressway are receiving “uninterrupted funds” from the federal government with a view... Population growth and development While the World Population Day was being observed last month, (July 11), concern was expressed on the high rate at which Pakistan’s population had been growing.... Economy and polls THE International Monetary Fund (IMF) mission that visited Pakistan this month concluded the economic evaluation on a positive note.... ECO transport system: challenges and resolve Trade promotion and development are primary objectives of the Economic Cooperation Organization (ECO). Its other priorities are transport, energy, telecommunications, agriculture, etc. Transport has always played a significant role in shaping... EPZ not at par with other zones in the region Commerce Minister Abdul Razzak Dawood, while announcing the Trade Policy for 2002-03 spelled out the factual position of the Karachi Export Processing Zone (KEPZ). He said, “EPZ are important export promotional...

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