09 February 2004 Monday 17 Zilhaj 1424 Investment stagnation begins to melt Though investment-led economic growth is not within easy grasp, positive trends indicate that the stagnation in investment is beginning to melt. ... NFC: behind a screen of percentages A false perception of increasing the fiscal share of provinces is being created by repeatedly propagating the proposed 50 per cent share of the provinces in the divisible pool of taxes in the next NFC. ... Reactions to the Davos forums The World Economic Forum in Davos, Switzerland, this year was preceded by the World Social Forum (WSF-January 16-21, 2004) and the Mumbai Resistance 2004 (January 17-20, 2004), both organized in parallel in Mumbai, India. ... Profit not top priority When an unfamiliar or unlikely public sector outfit makes a sizable profit it is news in Pakistan. And that is because most of the public sector units in the country make losses, and some like, the KESC and the Wapda units, very large losses. ... Should dividend be left to the board? One reason that small shareholders who attend company annual general meetings are less interested in proceedings and more in what is laid out on the tea tables is that small shareholders have little or no say in what the Board has done or plans to do. ... Will India remain the 'king' of outsourcing? Over the years, India has emerged as the "uncrowned king" of business process outsourcing (BPO) in the software industry and almost all big corporations in the West are keen to set up their call centres ... Residence notion in ITO 2001 The foremost factor in deciding whether any Pakistani-source income is taxable in the hands of a taxpayer is the determination of residential status in the relevant tax year. ... KESC sell-off: ways to resolve hitches The federal minister for privatization has reportedly asked the Karachi Chamber of Commerce and Industry (KCCI) members to form a consortium or a business group and come up with a bid for privatization of the Karachi Electric Supply Corporation (KESC) ... Challenges for human resources development Technological, economic, and social changes of the present century are creating a pressure on organizations, both governmental and non-governmental, to redevelop their human resources ... Housing: more needs to be done The construction industry is very old and today accounts for around one-tenth of the world's GDP, 7 per cent of employment, half of all resource usage, and up to 40 per cent of energy consumption, worldwide. ... Capital market reforms and future direction Policy liberalization since 1990s has led to rapid growth and expansion in Pakistan's capital market. As a result, regulatory framework could not keep pace with the developments. ... Patents and protection There has been much deliberation about patents related to software development in America and the EU but intellectual property rights are an indistinct concept in Pakistan thus keeping foreign companies at bay. ... What went wrong with the poverty alleviation? The revelation of the State Bank of Pakistan (SBP) in its annual report of 2002-03 that the incidence of poverty in the country has risen from 20 to 33 per cent has exposed to criticism the much-lauded economic reforms of the last four years. ... Diminishing livestock population Livestock plays an important role in the agriculture sector. Agriculture is regarded as the backbone of national economy and livestock is its jugular vein. ... Improving agricultural productivity The Punjab government has decided to provide modern agricultural inputs to farming community. These inputs are diversified and include approved or certified seed, good quality water for irrigation, fertilizers, weedicides and pesticides. ... Female stock traders Stock trading is not now the sole domain of male members where women brokers could not tread. Exceptional among them are those few, but more enterprising and courageous, who have dared to venture into this business for clinching their share ... Analysts see a stable rupee for long Since the 9/11 events that took place in 2001, and that America will never forget, Pakistan has seen some very positive developments on the political, as well as on economic fronts. ... Call centres: a blow to Indian workers For more than two years, Nancy Drew would answer calls from the Americans asking about their insurance policies and annuities. Most people were put at ease with someone who talked, and thought, like them. ...

© The DAWN Group of Newspapers, 2004