06 September 2004 Monday 20 Rajab 1425 New PM: hopes amid concerns Will it be a change or will it be more of the same, is the frequent question asked by people with Shaukat Aziz as Prime Minister of Pakistan? He has taken over at a time when critical decisions are to be made in a changing political environment ... Too much money to spend If adequate private sector investment is not forthcoming for the much-needed job creation, the government should expand its public sector investment for the short term, says the Asian Development Bank. ... NSS schemes lure investors In fiscal year 2004, net inflow in national saving schemes (NSS) totalled only Rs247 million. In fiscal year 2003, these schemes had attracted Rs135.8 billion. ... Extended season for passing the buck On August 25, the UN Committee on anti-terrorist sanctions released its long awaited report on compliance by member states. Not surprisingly, it painted a dismal picture because of the casual approach to compliance ... The issue of taxing transactions on e-commerce E-commerce refers to the paper-less business, exchange of information using electronic data interchange, electronic mail, electronic bulletin boards, electronic funds transfer and other network based technologies. ... Why the new seed treaty is a bad compromise The new seed treaty called the International Treaty on Plant Genetic Resources for Food and Agriculture (IT-PGRFA) has now come into force after a decade of negotiations and procedural formalities but how far it can protect farmers' rights remains doubtful. ... PARCO debt issue leaves bad taste The manner in which finance ministry officials handled the debt pre-payment for PARCO, the largest long term syndicated financing in the history of Pakistan, has left a bad taste in the mouth of the financial sector. ... Challenges to our textile industry Although the phased implementation of the agreed framework under the World Trade Orgzanization (WTO) regime started as early as 1995, its real effect will be felt from January 1, 2005 ... WTO era of new opportunities? The issue widely under discussion in the country's economic circle is that why the benefits and opportunities of globalization under WTO regime have not trickled down to trade, industry and overall fiscal position. ... Auditors need mandatory rotation Public confidence in the sort of financial information issued by various companies has been badly shaken. The confidence can be restored only when auditors' 'independence' is made free from vested interests. ... Prospects of solar water heating in textile industry Pakistan is an energy-deficient country and is a net importer of energy since the local fossil fuel reserves can meet only a small fraction of its needs. ... The quest for stable crude prices Stable crude prices have become a dream. Not only has the oil market turned volatile; oil prices have also risen alarmingly in the recent past. During the third week of August, the international crude prices had shot up ... Will agriculture attract PM's focus or rhetoric? There has hardly been any government of Pakistan that has not pledged focus on, and sustained developmental work, in the agriculture sector but, except for brief periods ... Issues, policy options in non-farm rural sector Pakistan's total labour force is about 42.75 million and out of this 29.69 million or 69.45 per cent lives in the rural areas. Of this rural labour force, 27 million are employed. Thus the unemployment rate comes to nearly seven per cent. ... Field crops foliar feeding technology Agriculture not only matters in feeding 140 million people but also has an importance in industrial set-up from where raw material is obtained. It is termed as the engine of national economy and also serves as a yardstick to measure development and progress. ... Rural poverty and income inequality Poverty is a rural phenomenon. The rural poor are not a homogeneous group. They depend largely on agriculture, fishing, forestry, and related small-scale industries and services. ... Stocks remain unsettled amid low volumes Contrary to analysts predictions, Pakistani stocks last week remained unsettled amid terribly low daily volumes in the absence of strong institutional buying and fears about the massive float from the carryover market. ... State Bank sells Rs61.5bn treasury bills On September 1, the State Bank of Pakistan raised the yields on three month and one year treasury bills to 2.23 per cent and 2.97 per cent respectively. ...

© The DAWN Group of Newspapers, 2004