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June 9, 2003 Monday Rabi-us-Sani 8, 1424 Two views on economic performance The perspective on the recent economic developments in the country has been coloured by divergent perceptions - the product of a sharply polarized political picture that has continued to haunt our... Tallying claims against facts: Economic Survey: Pakistan has achieved many economic landmarks during the outgoing year. On closer scrutiny these achievements look more like economic miracles rather than landmarks.... Development spending in political economy The Public Sector Development Programme (PSDP) for 2003-04 has been pitched at Rs160 billion against the targeted spending of Rs120 billion for the current fiscal. The comparative figure for FY 2002... Second-liners assume role of trend-setters in rising stock index Stocks maintained an upward drive during the last week as majority second-liners assumed the role of trendsetters on heavy dividend-related buying, thus relegating the blue chip volume leaders, including the PTCL... Rupee regains to lose at weekend In the inter bank market, the rupee regained strength over the American dollar this week though rising dollar demand, mostly by the foreign banks to meet huge payments, on the opening... SBP mops up Rs15bn from inter-bank market On June 3, the State Bank of Pakistan mopped up Rs15 billion from an excessively liquid inter-bank market, through an open market operation. This amount was drained out when the bank... Sanity prevails ahead of budget on foodgrain market The pre-budget week on Karachi wholesale markets lacked any special feature, as both the commercial and the brokerage houses preferred to keep to sidelines rather than indulging in speculative activity.... Food insecurity at the dawn of the 21st century At the dawn of the 21st century the world is mired in poverty. During the past three decades, the situation has been significantly changed yet, an unacceptably high number of people... Tubewells a threat to agriculture Of the nearly 550,000 tubewells installed in Punjab, over 55 per cent are delivering water that is considered unfit for irrigating crops. Its saline and sodic contents are undermining sustainability of... Govt apathy in protecting crops from insect damage Grasshoppers pose constant threat to pastures and variety of crops in both irrigated and rain-fed areas. There are 120 species of grasshoppers in Pakistan. Although, geographical conditions provide ideal breeding ground... NDP irrigation reforms lack gender equality Agriculture directly supports three-quarters of Pakistan’s population and employs half the labour force, thus accounting for one-quarter of its gross domestic product (GDP).... Task force for cut in power tariff The Federal Minister for Water and Power, while presiding over a meeting on 12th May 2003, directed to constitute a task-force of the stakeholders to suggest measures for reduction in power... World commodity report By the end of last month, gold climbed to $374.40 per troy ounce, its highest in 15 weeks. The precious metal has benefited from its inverse relationship with the US dollar... Dollar-euro-oil equation The euro is finally taking its place alongside the US dollar as a new global reserve currency. This has been further enhanced by the euro’s recent gains against the dollar. But... How much have our forex reserves depreciated? Pakistan is proud of having built up an unprecedented foreign exchange reserves of $10.48 billion within two years, and the people, too, are happy. But how much money has it lost... Ghazi Barotha: a highly mismanaged project WAPDA couldn’t have lost as much ever in any project as it has in mismanaging the Ghazi Barotha Hydro-Power Project (GBHPP), a $2.5 billion project, initially planned to start generating power... Some confusions about financial concepts “I am son of my father and my mother”, thus answered a young beau, nicknamed Apphi, when asked whose son was he. Although Mr.Apphi’s childish reply was not very informative, yet... Time to introduce index futures at KSE Futures on individual stocks were introduced at KSE in July 2001. They have shown a healthy growth since then. Their average daily traded value has risen from less than half a... Feudalism ignores WTO challenges The high-priority given to agricultural development under the second generation economic reforms to reduce the pervasive rural poverty and accelerate economic growth has brought the negative role of feudalism in Pakistan... All is not well with Wapda I have written a number of columns mostly on Wapda and the KESC, over the past three years. Most of them critical, but they were well-intended....

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