05 January 2004 Monday 12 Ziqa'ad 1424 Saarc: chances missed so far The trend towards regional economic cooperation in post-war world has been strong and sustained. The theoretical thrust for regional economic cooperation is the benefits which flow from trade creation ... Why software should not be patented The long-running battle over who owns the computer software has taken a new turn in both the United States and the Europe in recent days and the underlying motive is more corporate greed for profits ... Who cares for the small man The condition of the small man is the center of attention these days through the rubric of poverty alleviation. International financial institutions are lending their support. ... Second phase reforms flawed Optimistic Finance Minister Shaukat Aziz has unfolded his second generation economic reforms, after the successful completion of his first phase of macro-economic reforms. In fact, he has spelt out it's objectives and ambitious spending targets. ... Financial woes of Sindh Sindh's finances continue to remain plagued with the chronic problem of matching expenditures with inadequate and uncertain availability of resources. With a ridiculously small provincial revenue base ... Risks in carry-over market Carry-over market, also known as the Badla market, provides post-trade financing to speculators in our stock markets. Those who wish to speculate on borrowed money in the T+3 market obtain funds from those who are willing to lend. ... Looking beyond neo-liberal options As one looks back at the year 2003, there were many developments on the country's political front. These could breed excitement and spark a debate in favour or against the decisions of the government. ... Desperate job seekers The problem of unemployment is a global phenomenon. Even highly developed economies are not immune from this menace. Despite negative population growth in many European countries most of them are finding it difficult to cope with the rising number of unemployed people. ... Poverty reduction One of the ways to alleviate poverty is through horticulture. When barrages were built around one to two per cent area was considered for horticulture, definitely a short-sighted planning. ... Business openings for women Gender-biased practices, a global phenomenon, apart from casting a negative effect on the social status of women, also impede their participation in the economic development programmes. ... Metering system to curb energy losses The decision during late 1998, by the then Government, to hand over Wapda and KESC's managements to the Army greatly highlighted the issue of increasing energy losses- either because of theft or due to technical inadequacies of these utilities. ... Abiana: flat or differential rate? Annual expenditures on management and maintenance of irrigation systems in the Punjab province amounts to over Rs5 billion. Revenue collected through water charges remain much below the expenditures ... Salicornia cultivation abandoned The federal Ministry of Food, Agriculture and Livestock (MINFAL) has set a track record in imaginative initiatives that are abandoned before they mature. ... Development of livestock in Balochistan The livestock plays an important role in Pakistan's economy, and contributes about 9.3 per cent to the GDP. It's share in agriculture is 38.4 per cent. ... New Year heralds 'good prospects' for share business Karachi stocks maintained an upward drive by finishing the outgoing year 2003's account on a high note. However, the new year debut was not very encouraging, despite President Musharraf winning the vote of confidence. ... Pressure on rupee eased The week noticed a slight release in pressure on rupee in the local currency market. The year-end payments dragged the rupee's value down by 5 paisas versus the dollar at the beginning of the week ... Money market displays mixed sentiments On December 30, 2003 the State Bank of Pakistan mopped up Rs17.5 billion from the banking system for one-week repo at an open market operation. The SBP drained liquidity from the system through one-week repo of the T-bills at 4.75 per cent. ... Commodities climb up Prices of essential items on the Karachi wholesale markets generally rose last week, followed by the reports of holding back of stocks by some leading commercial and brokerage houses. ...

© The DAWN Group of Newspapers, 2004