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September 29, 2003 Monday Sha’aban 2, 1424 What Cancun may mean to WTO’s future Now that the fifth ministerial session of the World Trade Organisation that was originally intended to complete the unfinished business of the Doha Development Round has ended in a stalemate and... A wake-up call for the rich The World Bank president, James Wolfensohn, wants the rich nations to step up aid and facilitate trade to fight poverty “rising at an alarming pace and to make the world a... KBD: the range of choices is wider I did not get to hear General Musharraf’s, by all accounts, very impassioned appeal for a national consensus on construction of additional storage on the Indus River.... Corrections sought in share business Karachi stocks suffered fresh massive pruning for the second consecutive week as attempted technical rally — during the last seven days — failed to extend, despite higher corporate earnings and dividend.... Currencies take notes from G-7 communique Rupee remained under pressure this week against the dollar and the euro in local currency market. The rising demand for dollar by local and foreign banks to meet the payment requirements... SBP mopped up Rs22.5bn from inter-bank market On September 22, the State Bank of Pakistan mopped up Rs22.5 billion from an excessively liquid market. Of the total amount, Rs20.2 billion was mopped through one week repo of the... Approaching Ramazan sends pulses to prohibitive level Sharp increase in pulse prices featured the trading on the Karachi wholesale commodity markets last week. This was followed by reports of pressure on ready supplies due to the slow arrivals... Promoting a market-oriented vegetable and fruit culture Pakistan is endowed with fertile land, good quality water, favourable weather and labour which are capable of producing a variety of agricultural products in which fruits and vegetables constitute a considerable... Pitfalls of corporate farming One of the earliest suggestions of the military government was to bring prosperity to rural communities through land reforms. Consequently a ‘Land Review Committee’ was formed at the federal level for... Protecting agriculture from ‘housing The government of Punjab has announced a housing scheme for provincial government employees. Details of the scheme are yet to be finalized but the information so far available suggests that it... Need for prudent power planning Since 1960 Wapda is managing the Pakistan’s power grid, except in Karachi city, where it is managed by the KESC. The grid managed by Wapda consists of a large network of... A new approach to international borrowings Pakistan’s stock of external debt that was nearly $22 billion in 1990 reached almost $38 billion by June 1999. In order to cover deficiencies in the external sector, the previous governments... NIT: letters of (dis)comfort The annual report (2003) of the National Investment Trust Limited (NIT) describes the period covered as a banner year for the NIT.... The Cancun meltdown Despite a series of intense negotiations, world trade talks were derailed and came to an abrupt end when a large number of representatives from African, the Caribbean and Asian countries decided... Russia emerging as an oil giant A great many people could recall the financial crisis of Russia on August 17, 1998 when its economy was in total disarray following reckless government borrowings and suffering a jarring slump... Pakistan’s re-entry into bond market The government reportedly is negotiating with foreign banks to underwrite the issue of $500 million jumbo bonds, and 12 banks have submitted the expression of interest in this regard. This is... Pakistan’s economy: darkening shadows The rise in foreign exchange reserves held by the banking system, especially the State Bank of Pakistan (SBP), has been lauded on the following grounds:... Financial markets and globalization With the gathering momentum of globalization it has become important to understand how the economic policy decisions in any region like Europe or America can influence workplace at home?...

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