May 9, 2005	Monday	Rabi-ul-Awwal 29, 1426

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Commodities futures trading from June THE National Commodity Exchange Limited (NCEL), Pakistan’s first electronic commodities futures exchange is expected to commence trading operations in June after repeated delays since it was first registered by the Securities...		Gap between bound, applied tariff rates PAKISTAN is still perceived as the one of the least ‘free economy’ in the comity of nations. This is so even though applied tariffs for agricultural products in the country range between 0 to 10 per cent and for industrial goods, they fall between 5 to 25 per cent....
60 per cent listed firms deny dividends THE Karachi Stock Exchange Index was soaring until mid-March before its peak was chopped off after it touched 10,303 points, but that obscured the fact that only 40 per cent of the listed companies gave any dividend, including nominal amounts. Shareholders of 60 per cent of the companies denied any dividend....		Business with strategic community ties COMMUNITY relations have become a strategic imperative for corporations around the world. Whether it is an oil and gas company exploring and producing hydrocarbons in a country’s remotest parts or a...
Are KSE futures trading rules retrogressive? THE March 2005 stock market crisis has raised many issues that are being extensively debated in the media. One of the core issues that has emerged out of this crisis is that regulatory regime for the single stock futures segment was not ready for the shift of large speculative volumes from the carry-over segment....		Removing regional income disparities THE second Punjab Development Forum (April 18-19) was starkly marked by official rhetoric about the province’s policies, which, the government firmly holds, would stimulate rapid growth and industrialization in the next few years, generating new productive, sustainable jobs and reducing poverty. Each official appeared obsessed with the idea of achieving 7-8 per cent...
How to resolve Baglihar dam issue? THE Indian Prime Minister, Manmohan Singh, has as a gesture of goodwill, offered to settle the differences between India and Pakistan in respect of the Baglihar Hydro Electric Project on bilateral...		Revision of cotton crop estimates THE Federal Committee of Agriculture (FCA) fixed a target of 12 million bales for the cotton crop for year 2005-06 on March 28; it was revised upwards a month later and...
Disease destroying shisham trees SHISHAM or Dalbergia Sissio is an important source of fuel and timber wood. Its timber is used in furniture, agricultural implements and in building material. The tree has the value for...		Integrated weed management practices LONG-term weed management can be achieved by the appropriate use of required methods along with other land management practices like re-vegetation which is also referred as the integrated weed management (IWM)....
Karachi city budget CONTINUING the previous year’s practice, the Karachi City Nazim presented the draft budget before the City Council on April 30, 2005. The Rs42.9 billion budget earmarks more than Rs24 billion for...		Shipping fleet crippled SHIPPING in Pakistan is in doldrums. The strength of our national merchant marine fleet has dwindled over the years and now comprise some 14 aged ships destined for scrap in the...
Power rationing during peak hours: Mumbai Letter ONE of the major reasons why Maharashtra emerged as the industrial powerhouse of India was the excellent power situation in the state. Private power producers, including the Tatas, were not only...		India’s foreign trade pattern THE last few years have seen the rise of India as the region’s important economic power. Like many other developing countries, it is trying to use trade as a motor of...
Widening of microfinance operations MICRO financing services offer the poor a path to traverse out of poverty. But this way out from poverty has proved very long and tedious due to limited nature of MFIs’ existing operations, which is confined to disbursement of credit for micro businesses and at the most,...		Development without environmental pollution THE major sources of environmental pollution are industrial and transportation sectors because both sectors are emitting toxic effluents directly into the environment. The increasing population pressure with growing per capita income...
Stock market limping back to normal on ‘hedge facility’ AFTER several lean weeks and highly volatile price movements, the Karachi stocks at last showed the glimpses of its past glory and analysts pointed that the worst may now be over...		Rupee recovers against dollar THE US dollar gained against the Pakistani Rupee in the first few days of last week, but by the close of the week the rupee recovered in the inter-bank market. Similarly...
Forex balances held abroad on the rise ACCORDING to the Statement of Affairs of the State Bank of Pakistan, for the week ended April 23, 2005, both notes in circulation and those issued decreased in the week. Notes...		Commodities market remains stable PRICES of most of the essential items on wholesale commodity markets, during the preceding week, did not show much change which generally remained stable around previous levels amid light trading....