02 August 2004 Monday 15 Jamadi-us-Saani 1425 Factors that limit export growth Economists in Pakistan find the $3 billion trade deficit in this financial year unacceptable or totally unpalatable after a deficit of $3.2 billion last year against the targeted $700 million. ... Food imports to widen trade deficit The country's economic managers take pride in the assertion that they would regain economic sovereignty after the exit from the IMF's Poverty Reduction and Growth Facility in November this year. ... Trade policy arouses little interest Although the new Trade Policy for 2004-05 is rich in its contents, encompassing a wide-ranging export-promotion measures, it lacks coherence and integrated approach in its format and presentation. ... Economic planning and its decadence Economic planning sets the road map for maximizing social good and lays down a mechanism for achieving it. However, 'planning' in Pakistan has unfortunately become a casualty of apathy ... Corporate influence on US elections The November presidential election in the United States is supposed to be the first one to be contested within the limits redefined for raising campaign finance which spell a ban on soft money by what is generally known as McCain/ Feing old law ... Why subsidize higher education in Pakistan While subsidization of the higher education (HE) is argued against in the Development Economics (DE) literature and promoted for the love of DE in Pakistan, there is no one DE for the third world as each country situation is unique. ... A Pakistani version of glasnost Sometime before the advent of federal budget 2004-05, the Central Board of Revenue (CBR) asked the public to provide proposals directly to the department concerned. ... Non-traditional trade barriers In the wake of the WTO, the traditional barriers to trade such as tariffs and quotas are on the wane. However, these barriers are being replaced with what are commonly called non-tariff barriers (NTBs). ... Fiscal deficit in the light of monetary policy statement The State Bank of Pakistan (SBP) has issued Monetary Policy Statement (MPS) for July-December,2004 on the 21st July, 2004. A few aspects of the MPS are analysed hereunder. ... Punjab's initiative to attract investment With 29 full-fledged, medium and small industrial estates already existing in the province, does Punjab need more of them to boost industrial activity? The answer is in both negative and affirmative. ... Revitalizing the Karachi Circular Railway Recent press reports suggest that that a summary has been placed before the federal cabinet for final approval regarding the revival of the Karachi Circular Railway (KCR). This is a welcome news. ... Real estate: a lucrative investment option Real estate has emerged as a lucrative investment option for investors, almost globally with the demand for property going up adding hyperinflation in asset prices. In fact, owners of real estate have achieved abnormal profits in a short span of time. ... Agricultural resources grossly mismanaged Agricultur's share in Pakistan's gross domestic product (GDP) has declined from 53 per cent in 1947 to 23.3 per cent in 2004. The 66 per cent labour force engaged then, has now fallen to 44 per cent due to increased employment in industrial ... Alien species' threat after the regime of WTO Agriculture, as is known contributes 25 per cent to our GDP, provides employment to about 47 per cent of the workforce, and contributes, directly or indirectly, 65 per cent to export earnings. ... ADP's funds underutilized in Balochistan It was recently disclosed by the Governor of Balochistan that only 11 per cent of the development budget was utilized during 2003-04. However, the provincial finance minister said that 20 per cent of the Annual Development Programme (ADP) funds were utilized. ... Encouraging vegetable cultivation Poverty in Pakistan, specially in its rural areas, is deep and widespread. One effective way of fighting rural poverty is to encourage vegetable cultivation. ... Fruit consumption increasing Fruits are valued as protective food. These are rich in minerals, vitamin A, B and C, and provide more energy per unit weight than the cereals. Pakistan's wide range of agro-climatic conditions allow production of a variety of tropical and sub-tropical fruits. ... Capital market under the weight of PPL Stocks passed through another lean week as investors were not inclined to take up new positions even on blue chip counters. This was despite above-the-market-dividend announcements made by some leading companies ...

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