25 December 2004 Saturday 12 Ziqa'ad 1425 Government borrowing swells to Rs95 billion KARACHI, Dec 24: Federal and provincial governments jointly borrowed Rs95 billion from the banking system for budgetary support in less than six months, against the full fiscal year target of Rs45 billion. ... Collection of ST from three items declines ISLAMABAD, Dec 24: The sales tax collection from three main items registered a negative growth during the first five months (July-November) of the current fiscal year, over the same period last year. ... Move to liberalize trade with India ISLAMABAD, Dec 24: The government has constituted study groups to identify hidden tariff and non-tariff barriers in the Indian import regime that restricted the flow of Pakistani exportable products into that country ... Quarantine pact ISLAMABAD, Dec 24: Pakistan and China have finalized draft quarantine agreements for facilitating the trading of agro-based products between the two countries. ... Only six TFCs listed at bourses this year: Lowest in four years KARACHI, Dec 24: Six term finance certificates (TFCs) have been listed at stock exchanges this year, which in terms of numbers look poor as compared to 15 TFCs that made their initial public offerings (IPOs) in 2003. ... Investors' confidence restored JACOBABAD, Dec 24: The Federal Minister for Privatization and Investment, Dr Abdul Hafeez Shaikh on Friday said that the government policies had restored investors' confidence and millions of dollars are being invested in Pakistan. ... Millers want disposal of Sugdasi rice LARKANA, Dec 24: Larkana district government has asked the rice millers and traders, desperate for the disposal of their piled-up stocks of Sugdasi Rice to prepare their case for a meeting to be held in Larkana ... NWFP gets Rs1bn as net hydel profit PESHAWAR, Dec 24: The Water and Power Development Authority (Wapda) has released Rs1 billion to the Frontier province against its annual share of net hydel profit. ... China under growing pressure on yuan BEIJING, Dec 24: China's policymakers are coming under increasing pressure to re-value the yuan as the year draws to a close, with analysts pointing to robust economic growth and a continued decline in the US dollar. ... Oil prices fall amid dull trade LONDON, Dec 24: Oil prices fell on Friday in thin trading as dealers prepared for a long Christmas holiday weekend. In London, Brent North Sea crude for February closed down 61 cents to $40.10. ... Prices stay firm on cotton market KARACHI, Dec 24: Cotton market on Friday maintained a firm outlook followed by reports that the TCP will stay as a second buyer beyond the end of the current year in view of a bumper crop. ... Index consolidates well above 6,000-point barrier KARACHI, Dec 24: The KSE 100-share index on Friday soared well above the coveted level of 6,000 at 6,046.00 on fresh heavy buying in most of the leading base shares aided by predictions that the best level is yet to come. ... Haste in privatization of public utilities Each era creates it's own by-words and clichés. And every age has its fads and fashions. But very few ideas get carried to the next generation. Sociologists look at these changes as normal dynamics which, they reckon, cannot possibly be thwarted or stopped. ... Is ECO more feasible than Saarc? A new slogan is born in our regional economic context. And that is the ECO or Economic Co-operation organisation of ten Muslim states is more feasible than the older SAARC of seven South Asian states. ... The future of sliding dollar Rising consumption, high oil prices and growing military expenditure are inexorably pushing the current account deficit of the United States this year towards an all time high of $631 billion equivalent to six per cent of the national income. ... Tensions remain, trade war unlikely China has moved swiftly to defuse widespread fears across the globe that its low-cost textiles may flood markets to the detriment of fragile export economies when global quotas expire next month. ... Choosing the World Bank president The World Bank's new president is set to be named shortly by George W. Bush. As most informed observers are aware, the US retains the exclusive right to nominate the president of the WB, and has had done so since the institution's inception in 1944. ... Housing for low income groups On 14 December 2004, the City Nazim signed an agreement with a Saudi concern to develop housing units for low income groups. A massive investment of $100 million was also discussed for materialising the enterprize. ... Minority shareholders need to be empowered The spirit of the age, some one said, is in favour of equality though practice denies it everywhere. The denial is more pronounced in the Third World including Pakistan. ... Emerging role of human resource management Human input in the production process was at one time considered as a variable cost item. People were treated as dispensible units of labour and easily replaceable. ... Will soaring oil prices lead to stagflation Almost all the developed and developing countries had encountered hyperinflation and sometimes, stagflationary conditions during last quarter of the previous century. ... Solar water heating systems being commercialized The sun is ultimate source of energy. The 40-minute daylight released on Earth is equal to the amount of energy consumed by the entire population of the planet in a year. ... Recurring problem of insecticide resistance Background and perspective: Insects belong to phylum Arthropoda. These are distinguished from other arthropods due to three divisions of their body i.e., head, thorax and abdomen. ... Farm loans and wheat crop Money is being pumped in the agriculture sector with rare, unprecedented generosity. This informs of the government's concern for the development of the sector and making it more productive. ... Wheat pricing policy Wheat is a staple food item for a dominant portion of the Pakistan's population. It occupies a supreme position in food grains in Pakistan as it covers 66 per cent of the total area under food grains ... Gravity of water crisis It is difficult to escape the fact that the gravity of water crisis in our country is mind-boggling. The fact is reflected from the following statistics. Since 2000, Pakistan is facing water crisis mainly because of little rainfall during monsoons. ... Positive indicators push share index to new peaks The KSE 100-share finally breached through the psychological barrier of 6,000 points and consolidated above it last week and confidently sustained it at 6,045.00 on massive buying in OGDC and PTCL and some other leading base shares. ... Three-month Treasury bills yield rises At the Treasury bill auction held on December 23, 2004, the State Bank of Pakistan raised Rs15.25 billion in three-month treasury bills at a cut-off yield of 3.9462 per cent. ...

© The DAWN Group of Newspapers, 2004