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July 14, 2003 Monday Jumadi-ul-Awwal 13, 1424 Nationalization debased Prime Minister Zafaraullah Jamali wants the public sector in Pakistan to be depoliticised. By that he means ridding the national assets which have degenerated in most cases with heavy accumulated liabilities,... Misplaced enthusiasm over US aid Whether the $3 billion US aid offered during the President’s recent visit to the USA should be viewed as a feather in the cap of some depends upon the vantage point... KESC: a mirror of failures Much has been written on the KESC. But all in vain. The uninformed people running it had boasted in 1999 that given two years’ time they would turn it around. The... Capitalization, index, volume break all previous levels All previous records — both in terms of market capitalization and index level — were broken for the second week in a row as investors were not inclined to miss the... SBP sells Treasury bills worth Rs75.72bn through OMO On July 9, the State Bank of Pakistan sold Rs75.72 billion worth of T-bills through its open market operations. The total included Rs7.97 billion for 3-month bills and Rs67.75 billion for... Rupee trades in narrow band against euro The rupee/dollar parity showed a fluctuating trend in the inter-bank market during the week. Following increase in dollar demand by local and foreign banks the rupee lost 4 paisa for buying... Prices fall on bright crop prospects Easy conditions prevailed on the Karachi wholesale commodity markets last week on selling by commercial houses, followed by rain reports and predictions of higher production.... The tidal link disaster There are three possible approaches to face problems relating to environmental issues in Pakistan: (1) totally ignore them; (2) delay the progress and economic growth in the name of environment and,... Updating commodity marketing system The marketing of products is a feature which distinguishes a modern farm producer from his ancestors, otherwise farm production is a centuries-old phenomenon. In the past, production was meant to satisfy... Vegetables in summer The role of vegetables has always been ignored, and in fact limited in the development of economy of the country, consequently, in the daily diet of an average Pakistani.... Low farm productivity One of the perennial problems of Pakistan’s agriculture is low productivity. There admittedly has been an increase in yields over the years but these have been, by and large, negligible.... Changing labour laws to suit globalization The IRO, 2002 promulgated as a part of the new labour policy has undoubtedly curtailed or adversely affected some of the rights available to workers which need to be restored or... Soaring indirect taxes Massive tax evasion in Pakistan is a self-evident fact of our economic life, verified by a number of independent studies and the unanimity of expert opinion. Taxes are evaded, irrespective of... World economies: report After slowing down in the first quarter, economic activity appears to have gained momentum in the second quarter and the outlook for the year as a whole remains positive.... Habib Bank’s financial performance reviewed The Habib Bank Ltd (HBL) was the first public sector bank which published its annual report for the calendar year 2002.... The stocks game rolls on The great game of stocks is rolling on. On top of the 112 per cent gain in 2002, the key KSE-100 index has climbed another 32 per cent in the first... Poverty reduction: chasing a mirage The economic managers and advisors of this country are most concerned about poverty alleviation. On June 18, while approving the $123 million tranche from the Poverty Reduction and Growth Facility (PRGF),... Fiscal law and responsibility “Fiscal Responsibility and Debt Limitation Ordinance 2003” that binds the government to seek prior permission of the parliament for excess expenditure, finally got Cabinet’s nod and is likely to be passed...

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