May 22, 2006	Monday	Rabi-us-Sani 23, 1427

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Economy — a reality check THE next federal budget is likely to propose measures aimed at further fine tuning the monetary and fiscal policies to sustain the high growth trajectory while at the same time keeping the inflationary fires well under control....		Development priorities FOR 58 years, Pakistan has remained a developing country, which reflects on the profile of state governance all these years. The development backlog owes itself to short-sighted planning, corruption and resource...
Growing economic imbalances THE coming budget is likely to be the second last to be presented by the present regime, given the possibility of new elections, as provided by the Constitution....		Coalition working on ambitious uplift plan A HEFTY Rs30 billion public sector development outlay, a few cosmetic relief measures for the general public, a promise of jobs in thousands and a full dose of rhetoric on public...
Development spending to get a big boost WHAT was unthinkable in the 1990s is happening in Punjab these days. Awash with surplus money, the provincial financial managers are considering enhancing development spending under the annual development plan (ADP)...		Interim NFC award to provide relief THE North West Frontier Province (NWFP), like the three other federating units is looking forward to receiving a substantial increase in its share under the new National Finance Commission Award to be effective from the financial year 2006-07....
Tilt towards populist sentiment AMID warnings of “overheating” of economy by the international lenders, the next year’s budget will have a tilt towards populist sentiment ahead of general elections in 2007....		Balochistan in poverty trap Balochistan has informed the federal government that it would be impossible for it to bridge the widening the fiscal gap in the budget FY 2006-07. It is facing an uphill task in budget-making....
Salaried class in search of tax relief THE budget 2006 is around the corner. Everyone expects it to bring some relief from economic hardships and mounting inflationary pressure. The salaried persons with fixed incomes seek a much better treatment....		Addressing poverty concerns IT is reassuring that the country’s top brass is beginning to accept behind closed doors that the poverty “issue had not been effectively tackled over the past six years.”...
Unemployment among educated youth THE risk is, the more educated you are, the more chances there are to be unemployed. It seems to be against the conventional wisdom. But it is true....		India maximising use of local fuels WITH oil prices flaring to record highs, India’s import bills are also soaring. The country has to import almost 70 per cent of its oil requirements, and with a rapidly expanding automobile sector, its dependence on imported oil is growing....
Improving tax revenue from bourses THE federal budget 2006-07 would impact bourses in a number of direct and indirect ways. However, market reaction to the budget could largely be determined by decisions on four taxes,...		Revisiting the public debt strategy THE sharp turnaround in external and public finances has been a singular economic policy success of recent years. The reduction in the burdens of public and external debt was much greater than was envisaged by the Debt Committee five years ago....
An ideal time for policymakers THIS is the ideal time for the policymakers in a developing country like Pakistan to formulate the next year’s budget. The fiscal environment is so helpful....		World commodity report Gold/Platinum...
Stocks suffer fresh decline triggered by tax rumours DESPITE strong weekend rally, the stocks suffered fresh erosions last week as tax-related worries followed by conflicting rumours kept the investors on toes all along as their weaker links were out after selling the holdings at loss....		Dollar buying keeps rupee bearish LOCAL currency market commenced the week on a bearish note, as banks were engaged in extensive buying of dollar to meet the payment requirements....
Pakistan Investment Bonds go under hammer THE State Bank of Pakistan sold Pakistan Investment Bonds (PIB) after a gap of two years. On May 18, the SBP raised Rs10.161 billion through the PIB auction, while bids offered were to the tune of Rs16.012...		Trading activity picks up wholesale markets TRADING on the Karachi wholesale commodity markets improved modestly as a section of commercial houses resumed fresh buying at falling prices - notably on essential counters....