01 November 2004 Monday 17 Ramazan 1425 SBP must prevent Pak rupee from sliding The SBP has been managing the monetary and exchange rate policies extremely well during the last two financial years. The annual inflation rate averaged about four per cent ... Trade-driven strategic ties Pakistan is stepping up its efforts to persuade the United States to provide economic muscle to evolving bilateral strategic relationship between the two countries. ... Stock exchange follies exposed by a damning report No official document on the working of stock exchanges in Pakistan is as comprehensive in exposing their flaws, follies and failings as the report of the experts committee on demutualization of the exchanges. ... Future of the rupee On 12 October 1999, a US dollar was worth Rs54.34. By 10 September 2001, the rupee had depreciated to Rs67 for-a-dollar quite in line with its historical pattern of depreciation of around 10 percent a year. ... Russia wins honour and profits Although driven by a selfish motive, President Putin of Russia has performed a feat of historic significance by successfully influencing his country's parliament, Duma ... The blinding glare of ground realities At the recently held 54th AGM of the Institute of Bankers, the SBP Governor delivered his most realistic statement in several months. ... Urban development plan versus programme-based approach Karachi dwellers are made to bear more rosy promises. Foremost of them is the revival of Karachi Circular Railways (KCR). This time the prime minister has come forward with a strong worded statement on 22 October ... SECP's inability to discipline corporates The SECP's web site reveals it had reviewed listed companies' financial statements during the years 2001 to 2003. The shortcomings show a total abandon of law. ... Banking industry: prospects and constraints Banking is one of the most sensitive businesses all over the world. Banks play very important role in the economy of a country and Pakistan is no exemption. Banks are custodian to the assets of the general masses. ... Infeasibility of the Kalabagh Dam The funny claim of Wapda that Kalabagh Dam is one of the most extensively studied projects in the world is totally refuted by more than 26 excerpts in the dam's own feasibility report prepared by the project consultants. ... Infrastructural development alone is not enough Pakistan is extremely deficient in basic infrastructural facilities. Essential infrastructure services like roads, airports, power, telecommunication and others provide foundation of economic growth and stimulate the economy. This sector stands neglected. ... Cotton production may exceed target Reports from most cotton fields of Punjab and Sindh, where the first picking of cotton is in progress, are not merely good but indeed positive, suggesting that the target fixed for the crop by the government would be met and in all likelihood, exceeded. ... Impact of devolution on farm extension system Decentralization of the government and the administration has been adopted in many countries and the trend continues. The rationale is to shift the decision-making authority to lower administrative and political levels ... Regional consortium for food strategy The rice-wheat consortium (RWC) for Indo-Gangetic Plains was established in 1994 for the sustainability of rice-wheat system of South Asia. The present membership of the RWC consists of four national agricultural research systems of Pakistan, India, Nepal and Bangladesh. ... Food security remains an unfulfilled dream Availability of basic foodstuff is of vital importance. It has become a concern for governments of poor countries, especially, those under population pressure. ... Rs40bn wiped out from capital market The stocks, last week, passed through technical correction which was extended beyond its mandate chipping away Rs40 billion from the capital and 126 points from the index. Small investors were chief losers in the fight of giants. ... Rupee stays under pressure The continued buying of dollars to cover payments amid rising oil prices, mounting import bill, widening trade gap and downward pressure on foreign exchange reserves, is a sign of further weakening of rupee in the local currency market. ... Liquidity returns to inter-bank market On October 28, the State Bank of Pakistan mopped up Rs25.95 billion from a liquid inter-bank market. The State Bank mopped up Rs11.45 billion through one-week repo of Treasury bills and Rs14.5 billion through two-week repo at 2 per cent and 2.45 per cent respectively. ...

© The DAWN Group of Newspapers, 2004