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March 24, 2003 Monday Muharram 20, 1424 Land reforms and policy direction As one looked for an economic policy direction in the Prime Minister’s address to the nation on March 11, 03, a policy direction that would not be, during the current government’s... The cost of war “The age of chivalry is gone”, thus goes the famous lament of Edmund Burke. Burke added regretfully that in place of the chivalrous characters of the past, his age — and... Drug prices can’t come down A resolution adopted unanimously by the National Assembly on March 4 makes an interesting reading of how our legislators get to grips with grave issues such as drug prices that keep... Welcome changes in the privatization policy The newly-elected government has brought about welcome changes in the privatization policy being pursued earlier. The first change is in the form and second in the substance. The latter is obviously... Capital gains overshadow negative impact of war The stocks last week confidently crept back to their pre-reaction levels as bulls flooded the market with buystops at the prevailing rates after an attractive bait of capital gains overshadowed the... Dollar loses shine in world market Low buying interest in dollars and its smooth supply in the inter-bank market on the opening day of the week in review enabled the rupee-dollar parity to remain intact at its... SBP sells Rs40.23bn treasury bills at auction On March 19, the State Bank of Pakistan sold Rs40.23 billion of 3-month and 12-month Treasury bills at the auction. Of the total sold, Rs23.01 were 12 month bills and Rs17.22... Lacklustre conditions prevail on foodgrain markets Quieter conditions prevailed on the Karachi wholesale commodity markets last week as both the commercial houses and the leading brokers kept to the sidelines awaiting further developments on the Iraq war... ‘Mango politics’ in Pakistan When we talk about mangoes, we recall the sweet produce of nature— the Samar Behisht, Chaunsa, Anwar Ratool, Sindhri and other such delicious varieties abundantly grown in southern Punjab and Sindh.... Wheat support price The Agricultural Prices and Policy Commission (APPCOM) had recommended a support price of Rs325 per 40 kgs for 2003 wheat crop. The Economic Committee of the Cabinet (ECC) decided to maintain... Reduction in fertilizer prices While the government’s concern for providing relief to farmers through a reduction in fertilizer prices is to be commended, the measures for achieving the highly desirable end do not seem sufficient... Insect pests ravage red date palm trees Date-palm (phoenix dactylefera) is one of the oldest fruit trees in the world and is mentioned in the Bible and the Qur’an. Dates as a fresh fruit rank No 5 in... Federal Ombudsman and tax administration THE office of the Federal Tax Ombudsman (FTO) was carved out in the year 2000 of the office of the Wafaqi Muhatasib which was established in 1983. The FTO specializes in,... World economic report Indian economy registered a growth rate, which was far less than that had been expected.... Sick industrial units: time for revival or exit? A lot has been recommended for the revival of sick industrial units. Before we think about reviving such units, we need to first consider the causes of their sickness, only then,... Efficient logistics: a critical input for foreign trade Trade may well be termed as prime determinant of economic dynamics. Its emergence marked a sea-change in the economic behaviour of the earliest human communities when man switched over to production... KESC privatization The privatization of the Karachi Electric Supply Corporation Limited (KESC), which has been incurring losses since 1995-96 due to various reasons, has reportedly been deferred by the Privatisation Commission (PC) for... Changing reward systems in business Time has come to revise reward systems in our companies. A positive win-win alignment with rewards and business is critical because people often come to a firm with an expectation that... Banks have to trim sails Days when milk and honey were flowing their way may not exactly be over, but banks now have to trim their sails or get ready for rougher waters.... Mindless over-pricing of oil Several hundred truckers went on strike in the city on Monday and spilled their oil on the streets and threatened a far wider strike against the 6th oil price rise in...

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