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October 28, 2002 Monday Sha’aban 21,1423 Stamping out corruption in public spending The Ad Hoc Public Accounts Committee (PAC) headed by Mr H.U. Beg has taken 11 months to examine the financial irregularities and misuse of official funds and facilities by ministers and... Continuity: biggest challenge for the new government The compulsions of continuity imposed on it by the military regime is likely to pose the biggest challenge to the elected government designate. The so-called reforms which the military government has... If war erupts, how high can oil prices go? THE world is poised to suffer a major rise in oil prices and unpredictable hardships for commonfolks unless President Bush decides to resolve the Iraq crisis without a war. The hardest-hit... Soaring stocks depend on political environment For the first time in nearly a decade Pakistani stocks are at the heart of all investment activity. The Karachi Stock Exchange (KSE) index of 100 shares has climbed as much... Single session market capitalization record created Haughty conditions prevailed on the stock market last week due to the judicious blend of local and foreign buying, with selected counters not letting investors take, even a technical breather. New... Scheduled banks repose confidence in govt securities On October 23, the State Bank of Pakistan sold Rs12.2 billion bonds to mop up Rs13.5 billion from a fairly liquid market. Banks and corporate funds bought these bonds for up... Delay in political set-up hankers commodity dealers The wholesale Karachi commodity markets lacked normal trading interest as prices of most of the essential items again showed mixed trend amid alternate bouts of buying and selling.... Expatriates raise dollar supply Stability prevailed in the currency market where trading activities remained thin during the week. Due to the lack of interest among investors, the demand for dollar was persistently low, while its... Improving cotton standards The promulgation of the Cotton Standardization Ordinance (CSO), 2002 by the federal government is one of those policy measures, which should have been taken long ago.... ‘Ber’ plantation popular in Sindh Shortage of irrigation water in Sindh province has prompted many farmers to grow value-added crops and orchards that require less water. Ber (jujube) is one which grows in all types of... Exports of vegetables, fruits and the economy Agriculture being the largest sector of Pakistan can help improve trade balance of payment. It’s a large sector and requires to be analyzed sectors wise especially few less touched areas. Therefore... IBRD wants distortions in labour market removed The World Bank has called for removing various distortions in the labour market by undertaking combination of legal reforms, cultural change and ending discrimination in the public sector employment.... Energy requirements for higher GDP growth God has gifted Pakistan with huge reserves of coal which according to an estimate, are exceeding 90 billion tons sufficient to generate 60,000 mw of energy over 100 years, but these... Billions go waste in smuggling Smuggling causes a loss of approximately Rs5 billion per annum to national exchequer despite presence of the customs intelligence, the customs collectorates, the police, the Frontier Constabulary, the Frontier Corps of... World commodity report In the London market, gold fell to a seven-week low on October 17, as a surge in stock markets and renewed dollar strength encouraged the interest back into the safe-haven metal. In the day, gold was fixed at $310.75 an ounce.... Dependence all the way with or without MMA The election campaign of the Muttahida Majlis-e-Amal {MMA} resonated with slogans to reverse the tide of the IMF and the World Bank funding in addition to comparable slogans against foreign domination... Good governance and auditors’ report The comparison of the auditors’ report format prescribed in the Companies Ordinance, 1984 prescribed auditor report’s format with other jurisdictions shows it to be more a legal document to avoid liability... Caring more for macroeconomics Paradoxically, the issue of Third World poverty is more important morally, if not politically, for anti-capitalist enthusiasts outside the poor countries. It is the inspired citizens of the First World who... Of rise in exchange reserves Economic managers of our country, in particular, the governor of the State Bank of Pakistan and the finance minister have drawn big credit out of a rapid increase in our exchange... Dimensions of poverty According to press reports (September 25), the government felt rather uncomfortable about a report by the Federal Bureau of Statistics, that said that poverty in Pakistan had increased during 2000-01 and...

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