08 March 2004 Monday 16 Muharram 1425 Improving income distribution The 'emphasis' of economic policy is now shifting from macro-economic stabilization to an accelerated pro-poor growth, says State Bank Governor Dr Ishrat Husain. ... Essential reforms crudely overturned No sector of Pakistan's economy possibly so strikingly underscores its enduring weakness as the chronically ailing cotton sector which has been failed- both by the government and the private sector. ... Refloating the sinking utilities The most recent public hearings at the National Tariff Commission, on the petition of a particular local manufacturer of soda ash for restoration of 20 per cent import duties, has brought the present prohibitive cost of utilities to the fore-front once again. ... Economic prosperity and religious extremism In a recent well-attended convention, the Ulema and Mashaikh were urged by President of Pakistan to help the society get rid of the religious extremism. ... It's 'Chapati' now The preceding decade saw western seed companies prowling around in the subcontinent, India in particular, to look for an opportunity to grab intellectual property rights of Basmati and Neem. ... More toll taxes on the horizon Pakistan has a road network covering 0.252 million km-0.151 million km high types and 0.101 million km low types of roads. national highways (NH), motorways, G.T. Road ... NWFP stands no chance to complete ADP The NWFP government's intended plan to execute an all-time high Rs14.7 billion annual development programme (ADP) during the current financial year has apparently nose-dived before it could be implemented. ... Contain the bears in the stock market Pakistan's stock market faced some uphill turns and twists in the aftermath of May 1998. The KSE-100 share index recorded a gigantic plunge on July 14, 1998 when it was at the lowest ever of 766 points. ... How transparent the POL prices formula is The government appointed committee comprising representatives of oil marketing companies fixes the prices of a few petroleum products every fortnight. ... Taxation on profit from saving schemes The habit of saving is a tested way to reach financial betterment in latter years. It takes discipline and time, but unlike lottery, it guarantees a better financial future. It is a steady plan of investing in secure schemes. ... Restructuring the PTCL Telecommunication now plays a very important role in our daily lives. The countries that have reliable telecom services not only have profitable businesses but they also have good social sector to support the society. ... Deadlock over Baglihar; who reaps the benefit? The way the Baglihar issue is being handled by Pakistan gives the impression that it has been compromised for political reasons. At a time when water shortages is threatening the provincial harmony ... Rural poverty: agri inputs, price policies The price support policy was originally recommended by the US economist, John Kenneth Galbraith, to Pakistan's planning department in the mid 50's for only five years, to keep food price very low so that industrialists were able to accumulate capital and put up industries. ... Reko-Dik: another mega project in Chaghi The Reko-Dik mining project has potential to emerge as the second mega copper and gold project after Saindak in Balochistan. The Saindak copper and gold project is already in operation in district Chaghi under the Chinese engineers and experts. ... The woes of Super Basmati in EU The dawn of 2004 saw the doomed fate of Pakistan's Super Basmati in European Union (EU), which ruled for many years due to its superb grain quality. ... Quetta incident makes no ripples in KSE The KSE 100-share index maintained its upward drive though the week was shortened due to the holidays. The higher corporate announcements helped it to finish with a rise of 60 points after breaching through the crucial barrier of 4,900 points. ... Rupee rebounds against euro The currency market remained closed on March 1 and 2 to observe Ashura. The rupee, when trading re-opened was seen holding its firmness, as there was no big demand for dollars at the beginning of the month. ... SBP affairs raise mixed temper in money market The State Bank of Pakistan on March 3, sold 6-month Treasury Bills for Rs18.276 billion at a cut-off yield of 1.78 per cent. A total of Rs27.937 billion were offered. ...