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January 13, 2003 Monday Ziqa'ad 9, 1423 Foreign savings and macroeco dynamics ‘Foreign savings’ and the ‘net external resources inflows’ are the two popular acronyms used for the current account deficit in the balance of payments. Considering the critical linkages between the current... Ghazi Barotha: a case of gross mismanagement 9/11 is a godsend and its role can be exaggerated to blame for failures like Ghazi Barotha Hydro Project (GBHP) or could be understated like in case of ballooning foreign exchange... Debate on poverty reduction A national debate has been sparked off by World Bank seminars and workshops on a wide range of issues linked to poverty, going much beyond the reach of the government’s interim... Governing for development Governing by the consent of the governed is not only the sine qua non of good governance, and the mark of a civilized society; it is also an essential pre-requisite for... Making investment a provincial subject The threat of imminent American invasion in Iraq in February/March has added a new dimension to international business prospects for Pakistan. No buyers of Pakistani export goods are therefore prepared to... Capitalization, index continue hitting record high levels Both, the 100-share index and the market capitalization hit their carrier-best level during last week as investors were not inclined to even take a technical breather in a highly overbought market.... State Bank manages to sell T-bills worth Rs33.8bn The State Bank of Pakistan has lowered the cut off yield on six-month Treasury bills by 46 basis points to 3.94 per cent. In the week it sold Rs33.8 billion worth... War fears add to dollar’s weakness The Pakistani rupee maintained a firm stand against the US dollar in the first week of January. There was excessive supply of the US currency in the market. In the inter-bank... Divergent trend dominates on commodity markets The Karachi commodity wholesale markets showed mixed trend last week as dealers played on both sides of the fence, rolling positions from the weak counters to the profitable ones.... Amended SIDA act: yet another controversy The promulgation of the Sindh Water Management Ordinance to broaden the base of the Sindh Irrigation and Drainage Authority (SIDA) in the province and provide for the transfer of the entire... Why not a farming entrepreneurs’ association? THE major reason behind Pakistani’s poor progress in poverty alleviation is the decline of the share of the working population in agriculture, from 71 per cent in 1951 to about 64... Agrarian economy needs much more The newly elected governments, both federal and provincial, have come up with a couple of populist decisions, aiming at relief for the poor,farmers in particular.... Controversy over figures in WB report The compilation of controversial figures and various important data by the Federal Bureau of Statistics (FBS) has started souring government’s relations with donor agencies, as the officials have been accused of... World economies The centre-right government is trying to avert the EU sanctions by cutting a budget deficit that last year breached its 3 per cent limit. These efforts are aggravating the effects of the international....... Anamoly of high GST yield and slow growth High financial cost matched by equally high utility tariff plus the crippling 15 to 20 per cent sales tax on business have brought Pakistan’s industry under severe strain.... Power utilities: innovative tariff for profitability The power sector — particularly utilities like Wapda and the KESC — had to bear the public wrath, especially since the last four years, due to continued inefficiencies, corruption, tariff hikes... Imported goods cripling local industries There must be some people who think global and buy local. An average urban middle class Pakistani behaves like a typical rational customer—he goes for the best deal in market. If... Will investors now welcome new share holders? Will the corporate investors seek the assistance of the stock exchanges in Pakistan to raise new capital from the public by selling their shares to them following the phenomenal rise in... Anti-dumping duties on bed-linen On December 18th, 2002, the European Union issued a notice, in it’s official journal, of initiation of anti-dumping proceedings concerning imports of cotton-type bed-linen originating in Pakistan.... Myth of market interest rates One of the basic elements of the New Economic Order is to allow market forces to allocate resources through freely determined prices. Accordingly, the financial sector reform in Pakistan, which is...

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