18 October 2004 Monday 03 Ramazan 1425 Eonomic recovery drowning in a barrel of oil? Prices of petroleum products have remained unchanged in Pakistan since May in spite of the steep rise in their international prices. Indications are that by continuously cutting its petroleum development levy (PDL) included in the pricing formula ... Trade strategy for Pakistan and US Pakistan is seeking a re-appraisal of US strategy to have a more widened and meaningful co-operation in trade and investment. It wants to forge a new relationship focused on common business interests. ... Getting the priorities right A consumer-driven economy is far better than no or too low economic growth in a high population growth country after many years of economic stagnation, as in Pakistan. ... Local manufacturers being driven out The growth, it seems, so far is auto driven. The figures of the economy such as the performance of large scale manufacturing, exports, import of raw material and machinery, etc., boasted by the government as a proof of its economic wizardry are hardly that. ... What is wrong with the FAO? In the early 1960s, most nations were self-sufficient in food; now only a few are. In the period 1950-1984, the introduction of high-yield crops and energy intensive agriculture ushered in the Green Revolution, leading to increased crop production. ... Is Pakistan's export competitive? Recently there has been much self-congratulatory advertisements by the Export Promotion Bureau celebrating the fact that Pakistan's export has crossed the $12 billion mark in the last fiscal year and the fact that this year the target is set for $13.7 billion. ... Suggested framework for a long-term energy plan Reviewing the goals of the Planning Commission (PC) at Islamabad recently, the prime minister had asked the PC to prepare a long-term energy plan by 15th December 2004. ... Brain drain: causes and implications The term "brain drain" designates the international transfer of resources in the form of human capital i.e., the migration of relatively highly educated individuals from the developing to developed countries. ... Reaction to real estate boom Considerable amount of official concern has surfaced recently about the real estate boom in Pakistan. Different quarters are issuing warnings not to speculate on the rising property price. ... Afghanistan Railways: a dream coming true A dream of the Kandhar Railway in the middle of the 19th century seems to be realized in the 21st century with the change of political scenario from the conflict to cooperation in this most sensitive region. ... Mobilizing the consumers Consumer empowerment remains an alien concept for the decision makers in Pakistan even after 57 years of independence. Sellers dominate Pakistan's market. They get bank loans on low rates. ... Coal and hydel power as substitute for imported oil The persistent rise in oil prices is triggering shockwaves across the entire globe. Oil prices soared to historical record levels of 50 a barrel after ranging at about $ 10 five years ago and they breached $ 50 barrier on October 22. ... Flour export to Afghanistan raises price in local markets Already pressed hard by the federal government's decision of gradually doing away with the subsidy on wheat in line with its commitments with international donor agencies, the unlimited exports of flour to Afghanistan have further burdened the people of Pakistan. ... Dissatisfaction over increase in wheat support price An increase in wheat support price has always been a debatable issue in our country and the current Rs50 per 40kg hike to Rs400 is is not an exception. ... Water conservation strategies Water is an essential factor for life and nothing can stay alive without it. Plants can not grow without water. When plenty of water was available, more and more barren lands were brought under cultivation. Even sand dunes were converted into green fields. ... Enhancing edible oil production The population of Pakistan has increased from 32.5 million in 1947 to 149.5 million currently. The consumption of edible oil has also been increased proportionally from 0.3 million tons to 1.95 million tons during the last two decades. ... Funds flowing from real estate boost share business The Karachi stock market last week maintained the winning streak as investors continued to build their long positions on selected counters aided by the predictions of higher earnings and interim dividend. ... Rupee stays under pressure The Pakistani rupee crossed Rs60 mark versus the dollar and Rs74 barrier versus the European single common currency in the local currency market this week. ... Notes issued and in circulation decline On October 13, the State Bank of Pakistan sold Rs1.25 billion of six-month Treasury bills and kept the average yield at 3.19 per cent. The State Bank made a conscious effort to keep the rates from rising ... Wheat, sugar prices rise sharply Steady conditions prevailed on the Karachi wholesale markets as the pre-Ramazan week witnessed sharp increase in some of the essential items under the lead of wheat and sugar. ...

© The DAWN Group of Newspapers, 2004