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January 1, 2003 Wednesday Shawwal 27, 1423 Has Pakistan hit the road to prosperity? KARACHI, Dec 31: Perhaps the most striking statement made by President Pervez Musharraf, in his address to the nation, a day before handing power to the elected representatives was that there... Money will find way to industrial sector KARACHI, Dec 31: For Pakistan, May 1998 and January 2003 are the two worlds apart: Then the country blew the bomb in response to India’s initiative and was cast out as... ‘Govt to remain focussed on investment, growth’ ISLAMABAD, Dec 31: The government is projecting higher growth in 2003 due to higher investment and increased government’s development spending, says Prime Minister’s Adviser on Finance Shaukat Aziz.... NWFP Business see a good year PESHAWAR, Dec 31: Improvement recorded at the macro level by the military regime and signals emanating from the federal government viz-a-viz expected abolition of the negative list concerning Afghan Transit Trade... $1.4bn invested in textile industry KARACHI, Dec 30: Despite the banking sector not forthcoming with its share of financing in the textile industry, the entrepreneurs over the past three years invested around $1.4 billion for the... Plan ready to face impeding oil crisis KARACHI, Dec 31: A contingency plan has been prepared to cope with the situation arising out of a possible flare-up of US-Iraq standoff during 2003. Economic planners associated with the present... On bank credit and growth prospects KARACHI, Dec 31: Unlike in the past when Pakistan had to look for ways to avoid default on foreign payments the country is now wondering how to prosper on the back... Outgoing year proved dull for Balochistan QUETTA, Dec 31: The highest foreign exchange reserves in recent years or the upsurge in the economic activities in the country has left no impact in Balochistan where life remained dull... Business cautiously optimistic KARACHI, Dec 31: Local industrialists and businessmen are optimistic about the improvement in business environment and expansion, sales, earnings and market share in the year 2003.... Stocks hold promise of higher returns KARACHI, Dec 31: The year 2002 will go into the history of the Karachi Stock Exchange as a boom year reminiscent of boom conditions of the mid-90s, and analysts predict the... Karachi Port operations KARACHI, Dec 31: Three ships carrying containers and chemicals and to load molasses are expected to arrive at the outer anchorage on Wednesday, according to KPT sources.... Forward deals for less than one month allowed KARACHI, Dec 31: The State Bank has allowed the importers to cover their third currency exposure in case goods imported are invoiced in a convertible currency. Previously this facility was available... Commodity markets MULTAN, Dec 31: The following are Tuesday’s upcountry commodity market rates in rupees:... Informal sector likely to fare well KARACHI, Dec 31: The unorganized sector — small and medium enterprises and cottage industry — see a robust and consolidated growth and expansion in 2003.... Prospects of investment KARACHI, Dec 31: The new year sounds optimistic as far as investment is concerned as the new government is now more focus on growth and employment.... Bullish trend continues on cotton market KARACHI, Dec 31: Cotton market on Tuesday maintained a bullish outlook as ginners held on to their stocks apparently in a bid to raise prices further higher.... Govt may go for more flexible IMF programme KARACHI, Dec 31: The newly-elected Jamali government has already declared that the government has enough support for balance of payment and will not go for a new IMF loans after the... Reserves meant for meeting eventuality ISLAMABAD, Dec 31: There is no pressure on exchange rate today due to Pakistan’s stable foreign exchange reserves which are likely to touch $10 billion mark by June 30, 2003, says... French visa KARACHI, Dec 31: The French Consulate General has said the French embassy, Islamabad, is issuing only business and airport transit visas, says a press release.... Return KARACHI, Dec 31: In January the State Bank will pay to banks and non-bank financial institutions 0.88 per cent return on the 20 per cent special cash reserves that they maintain...

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