22 February 2005	Tuesday	12 Muharram 1426

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3 power projects being offered for bidding ISLAMABAD, Feb 21: Federal Minister for Water and Power Liaqat Ali Jatoi has said Pakistan was offering three power projects with total capacity of 1300mw for international competitive bidding in the next few months. ...		SSGC supply reaches all-time high KARACHI, Feb 21: The supply of natural gas to SSGC reached an all-time high level of 1.1 bcfd (billion cubic feet of gas per day) in February 2005. ...
Body set up to suggest ways for improvement: Adjudication ISLAMABAD, Feb 21: The Central Board of Revenue (CBR) has decided to constitute a three-member committee to review the present system of adjudication and recommend measures within a month to make it user-friendly. ...		Pakistan-India Study Group meets today ISLAMABAD, Feb 21: A five-member delegation left for India on Monday for first Indo-Pakistan Joint Study Group on Trade and Economic meeting that begins in New Delhi on Tuesday. ...
Views sought for raising duty on palm oil ISLAMABAD, Feb 21: The National Tariff Commission (NTC) has sought proposals, suggestions from all the stakeholders for revising upward the rate of customs duty on import of crude palm oil (CPO). ...		Efforts on to check auto parts smuggling ISLAMABAD, Feb 21: The government has decided to constitute a committee to work out measures for reducing the unabated smuggling of old and used auto parts resulting in revenue loss to the national kitty. ...
Americans pour $49.9m into stock business KARACHI, Feb 21: American investors poured $49.9 million into Pakistan's stock market in seven months of this fiscal year, which is more than its combined investment here in the last two years. ...		Toll free help line for Kapco offering ISLAMABAD, Feb 21: The Privatization Commission has established a toll free help line No 0800-72150 to provide facilities to the general public for subscription in the initial public offering (IPO) of Kot Addu Power Company shares ...
State Oil announces Rs11/share dividend KARACHI, Feb 21: Pakistan State Oil (PSO) has earned Rs4.1 billion as profit before tax and Rs2.6 billion as profit after tax during July-December 2004, showing a rise of 23 per cent over the same period last fiscal year. ...		PLGMEA seeks 20pc duty on hides export KARACHI, Feb 21: The exporters of leather garments and leather products are facing shortage of essential raw leather in the local market. The Chairman, Pakistan Leather Garments Manufacturers and Exporters Association (PLGMEA) ...
Ginners and spinners locked in price war KARACHI, Feb 21: Trading on the cotton market on Monday resumed on a dull note as ginners and spinners remained locked in a price war, but the latter were not inclined to go beyond Rs2,250 per maund for fine lots. ...		Stocks maintain upward drive, up by 132 points KARACHI, Feb 21: The KSE 100-share index maintained its upward drive for six consecutive sessions and virtually raced towards its new target of 8,000 after having added another 132 points and was pretty close to its crucial level. ...
Back to development strategies of 1960s Once again in the economic history of Pakistan is development going to be equated with industrialization, capital investment, and technology. ...		Flawed outlook on poverty reduction The government claimed in the year 2000 that its economic revival strategy has been embedded within the themes of poverty reduction. Five years later in 2005 the poverty has yet to show clear signs of receding ...
Concentration of fiscal authority growing The provinces as well as the local governments are starved of resources. Their starvation emanates from the fact that all buoyant and broad-based sources of revenues are assigned to the federal government. ...		Prioritizing investment Financial services sector constitutes the backbone of any economy but there are times when players in this sector opt to act merely as intermediaries diluting their immensely important role of giving business ...
Risks in oil price hike One of the key developments during the preceding year was the escalating oil price in international markets that touched a new peak on October, 29, 2004, when WTI touched $56.36/bbl. ...		Government's role in wheat trading This has been a bad year for the consumer. He had to pay a very high price not only for the flour but also of the government ineptness. ...
No relief from inflation The Asian Development Bank voiced last month the fear that rising price trends could result in a rate of inflation close to double digit by the end the current fiscal in June and the next financial year may begin with double digit inflation. ...		Renewing public confidence in capital markets The Sarbanes-Oxley Act:2002 (SOX), named after Senator Paul Sarbanes and Representative Michael G. Oxley and approved by overwhelming majorities- both in the House of Representatives and the Senate is considered as the most significant change ...
Should risks be transferred from bourses to NCC Every day hundreds of millions of shares are traded on the Karachi Stock Exchange (KSE), Lahore Stock Exchange (LSE) and Islamabad Stock Exchange (ISE). ...		Boosting economic ties with India With the rapid change in global economic environment, both India and Pakistan have realized that hostility between them would cost them enormously. ...
Profits and social responsibility The issue of corporate social responsibility (CSR) dates back to the 1950s when academics and corporate leaders began to recognize and articulate the impact of corporations on society. ...		Using indigenous machinery for thermal power plants Given the emerging energy scenario, a more effective institutional and regulatory framework is required to promote optimal indigenisation of required machinery and equipment. ...
Cashing in on flower trading Pakistan is currently exporting horticulture items worth around $126 million. The sector has great export potentials, and within a span of 3-5 years, could earn $500-600 million provided necessary improvements were carried ...		Long-awaited KESC privatization The successful privatization of KESC is yet another feather in the Privatization Commission's cap (PC). ...
Neglected edible crops While the national bill for edible oil imports has been rapidly mounting, reaching from Rs77 million at the end of 70's to a staggering current amount of about Rs43 billion ...		Rising share of dairy sector in agricultural growth Despite being the fifth-largest milk producing country of world, Pakistan's import bill has increased from Rs0.34 million to Rs770 million during the decade ending in 2003. ...
Mango orchards hit by destructive diseases Mango is an important tree fruit of tropical and subtropical regions of the world and is considered as the "king of fruits" due to its flavour and dietetic value. ...		Ineffective plant quarantine Domestic quarantine is enforced to stop the spread of pests. No matter how strict the quarantine is, but the threat of pests and diseases through various avenues is always there. This is because of lapses and faulty control system. ...
Share index surging to new heights The KSE 100-share index last week crossed the third consecutive barrier of 7,500 points to close at 7,734. Investors continued to build long positions on selected counters under the lead of banks and energy shares ...		SBP raises Rs62.34 billion through treasury bills On February 16, the State Bank of Pakistan raised Rs62.34 billion through the auction of three-month and 12-month Treasury Bills. ...