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December 9, 2002 Monday Shawwal 4,1423 The poor need a new deal Our economic managers effusively claim resounding success in rehabilitating the economy that according to them was in the doghouse prior to their arrival on the scene.... Why is the KSE going up? On the last day of November 2001, the Karachi Stock Exchange (KSE), as represented by the 100-member KSE-100 Index, stood at 1,355 points. Exactly a year later, the index ended at... Who should determine drug prices? WHO should determine the prices of essential medicines — the ministry of health or the ministry of industries? Apparently, it looks like a husband-wife quarrel but has a crucial bearing on... Will new moves to benefit the economy? These moves range from the State Bank of Pakistan’s (SBP) discount rate cut to new the letter of credit facilities for those engaged in foreign trade, and the central bank’s decision... Stock market reacts optimistically ahead of long week-end Stocks maintained an optimistic outlook during the holiday-shortened week, as leading investors were not inclined to entertain the bearish ideas and continued to make extensive short-covering on blue chip counters, amid... Notes in circulation, issued depict rising trend According to the Statement of Affairs of the State Bank of Pakistan, for the week ended November 23, 2002, both notes in circulation and those issued maintained the rise in the... Falling dollar deserts market Currency market wore a dull look in the absence of any major development. The market lacked trading interest due to the persistent decline in dollar’s value. Due to uncertain world political... Holiday mood dampens activity in commodities Pre-Eid holiday mood prevailed on the Karachi wholesale commodity markets last week, as both the brokers and the commercial houses did not fully participate in daily trading owing to various reasons,... Irrigation reforms through NDP The irrigation system of Pakistan, based on the Indus and its tributaries, is one of the largest integrated irrigation networks in the world. Known as the Indus Basin Irrigation System, it... Rusi basmati: a promising variety Rice, one of the major foreign exchange earner and the second most important food crop of Pakistan belongs to the genus oryza. There are 18 valid wild species distributed mainly in... Sea’s intrusion into the Sindh coastal belt With the country’s population increasing at an alarming rate, fresh water supply is being continually depleting, increasing the importance of ground-water monitoring; ground water being the principal source for domestic, industrial,... Status of a labour Contractor The definition of an “employer’ as given in section 2(x) of the IRO 2002, declaring a contractor who undertakes to procure labour or services of workmen for use by another person... World commodities report Last week cocoa prices rose after the breakdown of a ceasefire in Ivory Cost and reports of outbreaks of fighting in several regions. Local exporters and farmers said they feared fighting in the north west could spread to the south to the key growing region, disrupting the industry at a crucial stage of the new crop... Packaging: its importance in export Packaging, which has assumed great importance, is capable of selling anything in the right, attractive and fanciful array. In the process of exporting products from one country to another, or inter-city... Reduced settlement cycles In recent years, an important development which has taken place in stock markets around the world is the shift to reduced settlement cycles. Initially, the rolling settlement was taking place on... Realizing optimum benefits from development projects The Asian Development Bank (ADB) had approved technical assistance (TA) grant of about half a million dollars, recently to the government of Pakistan for the Planning Division and the departments at... Unemployment remains a big issue One of the key areas where the Musharraf government could not deliver during the last three years was unemployment. There had been, of course, tall claims made by the authorities to... IMF review of economic Management The IMF has released another instalment of $114 million as a result of the third review of the implementation of the PRGF facility. The release was, however, made possible, after grant... Oil war looming over the horizon Although the threat of war in Iraq appeared to have receded slightly after Iraq’s unconditional acceptance of the United Nation’s latest resolution, supported by all the five permanent members of the... Can a tax-free zone make medicines cheaper? Medicine prices have always been a highly contentious issue in Pakistan, particularly after the steady devaluation of the rupee which began in 1982 and inflated prices of imported medicines as well...

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