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February 17, 2003 Monday Zul Hijjah 15, 1423 Saving reserves for the rainy day Pakistan’s foreign exchange reserves have witnessed an unprecedented increase after the 9\11; they stand at more than $9 billion and are expected to touch $10 billion soon. This is a welcome... Risks of dollar reserves and exchange rate The inflows of dollars, much in excess of the emerging forex market demand, has helped the State Bank build up $9.5 billion reserves and to shore up the rupee against a... Sambrial dry port disaster The recent disaster at the Sambrial Dry Port, near Sialkot, is another tragic addition to the national portfolio of crime and corruption, causing 17 deaths and injuries to 35. That is... Splits in stock market Stock split, as the name implies, means subdividing the outstanding shares. For instance, if a company has 10 million shares outstanding, then a 2 for 1 split would turn them into... SBP’s bank borrowing declines According to the weekly statement of position of scheduled banks for the week ended February 1, 2003, the sum of demand and time liabilities maintained the upward trend in the week... Dollar demand pulls rupee down The currency market remained closed for three days on account of Eidul Azha. Earlier in the week, the rising demand for the dollar on February 10, had pushed the rupee lower... Has the TCP resumed cotton procurement at the right time? What prompted the Trading Corporation of Pakistan to resume cotton procurement operations is a question being debated in textile circles for the last few days. The mid-season entry of the TCP... Water management in Sindh’s dry lands The dry and drought prone area of Sindh measures 275 million acres and is homeland of around two million people. The basis of their livelihood is in jeopardy and will remain... Fairness in distribution of irrigation water needed Many parts of the world are facing water shortage and some have reached a crisis stage due to climatic changes, increase in human population and land under crops, unfair distribution and... Beneficial uses of chicory The berseem importers heaved a sigh of relief when in November last the National Seed Council rescued them by changing the status of chicory (kasni) from noxious rogue to an ordinary... Machine designing facility: need of the day Technology is recognized the world over as one of the imperatives for achieving industrial advancement and economic progress. In this era of globalization and liberalization it will be a determinant factor... World commodity report Oil prices have risen because of concerns about US energy supplies and uncertainty about the possible war in Iraq..... Diversifying export markets After many years, Pakistan’s exports seems to be on the right track and increasing at a desired pace. According to the available figures, exports had reached $6.14 billion in the first... Leasing: ambiguities in new Income Tax Ordinance The Income Tax Ordinance, 2001 is different in application from its predecessor, the now repealed Income Tax Ordinance, 1979, in many ways. One of the notable differences is the treatment of... Reducing disharmony through new NFC Award The fact that Pakistan suffers from multi-facet disharmony and discontent is widely recognized. Although several causes exist for such a predicament, the NFC award and its application from time to time... From Doha to Cancun: WTO impact on Pakistan Pakistan agreed to join the WTO in 1994, one of the benefits of which is the integration of the textile sector into GATT. When we look at 2005, some of us... Politics of targeting gas installations The recent series of explosions in Sui and Rajanpur caused disruption of gas supplies to many parts of the central and northern Pakistan, besides losses to the public assets. During the... Can Pakistan live without IMF? Pakistan’s official economic managers have been claiming over the past one year or so that the country would be in a position to live without IMF after the conclusion of the... Ministers in competition for investment incentives Is the total industrial investment in Pakistan so far of Rs. 940 billion, or more or less in reality? In dollar terms that comes to 15 billion at the current exchange... Globalization balance sheet In too many stories about the modern economy, “globalization” is cast as either the hero or the main villain. In reality, globalization is one of several central facts of life. There...

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