08 November 2004 Monday 24 Ramazan 1425 Challenges ahead and the SBP's report The GDP growth rate of 6.4 per cent for FY04 exceeded the target of 5.3 per cent for the year. Next year's GDP is also expected to grow by over 6 per cent. While these are commendable growth rates ... Sindh's income on the decline since '99 As one of the many jobs that have been outsourced by the government to its donor, the World Bank, has been given the assignment to prepare a report on the economy of Sindh in the next six months. ... Can Pakistan follow Malaysian export model? Since the beginning of the last decade, Pakistan has been borrowing quite a few of Malaysian strategies at least for rhetorical purposes. ... The roaring gross national income How large is the gross national income? It depends how it is measured, by the purchasing power parity or the exchange rate. ... Inflation: mother of many economic ills The record rise in world oil prices, touching $55 a barrel before sliding down to around $50, has triggered a number of monetary and fiscal problems for the country. ... Rising military spending and its causes Military spending is constantly increasing and eating billions of dollars from the socio-economic developments budgets throughout the world. Global military expenditure and arms trade form the largest spending in the world at over $950 billion in annual expenditure ... WTO farm accord unlikely before 2006 Ever since July framework agreement approved by the General Council of the World Trade Organization, an eerie atmosphere marked by confusion, uncertainty and anxiety prevails in its secretariat. ... 2005: the year of microcredit There is a growing community of organizations committed to eradicating poverty through the delivery of financial services to the poor and the low-income people throughout the world. ... Role of NGOs in the social sector Socio-economic development society is the prime duty of the state in resource-constrained countries like Pakistan, Bangladesh, India, Nepal and Bhutan. This can be achieved by participation of all segments of the society. The limited capabilities of the governments have made it difficult to respond effectively to the growing needs of population at grass roots level. ... Import of cars: impact on local automobile production Once again the Automobile industry in Pakistan is faced with a difficult situation as the local manufacturing has been rendered uneconomical due to a number of factors. ... Thar coal and poverty reduction Nearly half of the world's poor live in South Asia, a region that accounts roughly for the 30 per cent of the world's population. In Pakistan, most of the poor live in the backward areas like Tharparkar (Sindh). ... Financial package for Balochistan The prime minister's financial package, injecting Rs3 billion into the fragile fiscal base of the Balochistan Budget of Rs42,730.3 million with a record deficit of Rs9.5 billion during the Fy 2004-05, is sure to bring financial relief to the province. ... Over ambitious wheat production target Wheat production has always been a debatable issue though Pakistan has been a net importer. However, in the past few years the issue has become controversial due to prolonged shortage of the commodity and an unprecedented price hike in flour prices. ... Who will heed SBP's advice on national water programme While the annual report of the State Bank of Pakistan (SBP) only confirms known and established factors and analyses of conditions ... Farmers' empowerment to alleviate rural poverty Pakistan's population, estimated around 149 million, is growing at the rate of 2.1 per cent per year. Nearly 67.5 per cent of country's population is living in rural areas. ... Zero tillage: an approach to conserve resources Resources have ever been limited and man can only conserve them. For agriculture, availability of farm inputs at right time and in proper quantity is important. ... Bourses most likely to celebrate Bush victory after Eid The stocks last week finished higher after having passed through some apprehensive moments ahead of the US presidential elections and the divided opinions on its outcome, and what impact the results would have on the Pakistani economy and politics. ... Rupee regains partial losses In the past four months of the current fiscal year, the rupee has lost nearly five per cent in terms of dollar on forward dollar-buying by importers. The rupee crossed Rs61 per dollar in the second half of October. ... Notes in circulation and issued increase On November 1, the State Bank of Pakistan sucked in Rs4.15 billion, through the sale of Treasury bills for one-week repo at 2.15 per cent. The open market operation had generated bids worth Rs8.35 billion. ... Holding of stocks by mills push sugar prices up A sharp increase in sugar prices at the end of week featured trading on the wholesale commodity markets last week where other essential items also showed sympathetic rise. ...

© The DAWN Group of Newspapers, 2004