September 19, 2005	Monday	Sha'aban 14, 1426

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Inflationary risks to economic gains INFLATION is often referred to as “public enemy number one,” whereas high economic growth is, no doubt, a friend to be embraced. Each was present in good measure in Pakistan’s economy...		Mobilizing savings for investment HAVING achieved one of the highest GDP growth rates of 8.4 per cent during FY-05, the question now arises whether the existing rate of savings is enough to sustain investment levels required for the projected 7-8 per cent economic growth rate....
Rural debt and the bonded labour IN an Islamic state, which ought to forbid Riba or usuary with its varied abuses, how can borrowing a small sum of money for distress spending result in enslavement of the...		Fodder availability through silage A STEADY supply of fodder is essential for the productivity and economic returns from the dairy farming. The bulk of the feed is contributed in rural areas by crop residues and green fodder....
Sizing up the cotton crop NOW that the cotton crop is in the home stretch-in lower Sindh and early cultivated cotton in Punjab has in fact reached the picking stage, it may be time to assess the possible size of the crop....		Return on investment in poultry farming THE cereal-based diet is deficient both in calories and proteins. An average man requires 70 grams of protein per day and out of it 27.4 grams or about 40 per cent comes from the animal source....
Public accountability of revenue departments THE importance of revenue auditing is well recognized by now. The International Organization of Supreme Audit Institutions (INTOSAI) and Asian Organization of Supreme Audit Institutions (ASOSAI) have indicated that revenue taxation...		World commodities IN the London market, oil prices rose above $64 a barrel as US crude stockpiles fell in the wake of Hurricane Katrina, a weekly data from the world’s top oil consumer showed the US commercial crude stockpiles fell 6.6 million barrels last week after Katrina forced the closure of most Gulf of Mexico oil output....
Snags in liberalization of farm trade IN most of the poor countries, agriculture not only accounts for a large share of gross domestic product (GDP) but is also the primary source of employment, food and livelihood for the majority population....		Livestock markets suffer from neglect THE livestock is an important source of livelihood for about 35 million people with an average holding of 2-3 cattle/buffalo and 5-6 sheep/goat per family which fetches them 30-40 per cent of their income....
IFIs, poverty and war on terror BOTH the World Bank (WB) and the Asian Development Bank (ADB) have renewed their concern for poverty reduction in Pakistan. A notable aspect is that the issue of poverty is now being pushed several notches up on the agenda....		Pharma patents — the other side of the story HOW important is a court order in an IP rights’ case? Can it be a life-saver? And for whom? In cases of patents, especially those related to pharmaceutical industry, a lot...
Talk shows on stock market A PROFOUND change that has taken place in our stock market is the tremendous coverage of stock quotes and market issues by the new television channels....		Cross-border trade and legal myths A JOINT statement issued by President Hamid Karzai and Indian premier Manmohan Singh in Kabul on August 29 gives some indication about their discussions on General Pervaiz Musharraf’s liberal approach on...
Changing business dynamics in NWFP THE North West Frontier Province (NWFP) is in the initial process of re-gaining its centuries-old position of a gateway to Afghan and Central Asian markets amidst a limping peace in the war-torn Afghanistan....		G-20 draws up battle lines on farm products MINISTERS of G-20 member countries have just drawn up the battle lines for their fight to protect millions of farmers against policies of United States and European Union....
Stocks finish with extended gain of 45.31 points DESPITE a weak performance tuned in by blue chip counters, the stocks maintained an uppish leaning last week on active short-covering at the dips. The KSE 100-share index briefly touched the 8,000-point level....		Rupee comes under pressure A mounting demand for the US dollar in local currency market last week exerted pressure on the rupee. On September 12, the demand for dollar was high but the smooth supply of dollars restricted a sharp decline in the rupee value....
Central bank raises cut-off yield on Treasury bills AT the auction on September 14, the cut-off yield on six-month Treasury bills remained unchanged. It was 8.1388 per cent, while the weighted average annual yield on the paper rose to 8.1388...		Prices of essential items ease in dull trade PRICES of some essential items fell last week on the selling by stockists and the absence of commercial and brokerage houses from the trading. What accelerated the selling was the falling...