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June 12, 2006 Monday Jumadi-ul-Awwal 15, 1427 Can excessive consumption and imports sustain growth? BUDGET 2006-07 has been announced at a time when Pakistan’s macro-economic picture continues to reflect robust growth in most sectors of the economy.... The good and the bad Analysing a budget can be a little bit like unravelling a mystery – some things are obvious, others are not quite what they seem, and you always discover new things as you delve deeper.... Relief and poverty implications THE federal budget 2006-07 is termed a relief-oriented budget by the Minister of State for Finance, Omar Ayub Khan. A relief of Rs10 billion is provided to pensioners and government employees.... Risks and opportunities in sewage irrigation THE rapid urbanization in developing countries has resulted in the generation of huge volumes of municipal and industrial wastewater requiring treatment and safe disposal.... Land degradation — a threat to agriculture Pakistan is facing a number of environmental threats, of which, land degradation appears to be the worst.... Participatory farm research THE participatory approach is a tool that allows people to take an active and responsible role. It emerged as a result of general recognition that intervention strategies, which had been advocated in the past, did not work.... Peach marketing in NWFP THE climatic conditions in Pakistan allow growth of 21 different kinds of fruits like apple, almond, walnut, dates, peaches, plums, citrus, mango, guava, loquat, lychee and banana.... Saving irrigation water ABOUT 22 per cent of the gross domestic product (GDP) comes from the agriculture sector. Crops are cultivated in irrigated as well as rain-fed areas. However, irrigated farming is most important.... Poverty focused investment strategies for Punjab THE Punjab government has recently finalised the Poverty Focused Investment Strategies (PFIS) for six key sectors – health, education, water supply and sanitation, housing and urban development, the SMEs (including the... Balochistan’s rising debt liabilities WHILE preparations for the Balochistan budget have entered the crucial stage, the province continues to experience financial crisis on account of its debt servicing liabilities.... Controlling the soaring prices THE subsidy plans on essential items’ and appointments of magistrate in all the districts are planned to curb the skyrocketing trend in prices. These magistrates have been empowered to punish profiteers and hoarders for which the relevant law has been amended.... Tax burden on the salaried class Policy-makers have once again conveniently ignored the plight of salaried people, already struggling hard to survive against the rising tide of inflation. Just to mention a few, they have been deprived of existing concessions, benefits and exemptions e.g.... India grappling with pension fund rules INDIA’S financial services sector has traditionally been dominated by the state-owned companies, many of which in the past acted not on the basis of prudential norms – or for the benefit... Pro-worker relief measures PERISH the thought of the rural labour that still works in seething poverty and forever is looking heavenwards for the trickle down of prosperity promised by successive governments.... Glow of progress and ‘darkened’ hearts THE budgetary proposals for 2006-07 are full of tall claims and taller promises. Of course, every government has the legitimate right to score political points while announcing its annual economic balance sheet.... Realising the designed PSDP objectives THE performance of development budget is being assessed by the government these days merely on the basis of budgetary allocations, financial releases and utilisation of resources under the public sector development programme (PSDP).... Low savings, poor investment TOTAL investment in the country rose to a record 20 per cent of the GDP in the current year from the 18.1 percent last year, breaking a bad log jam of low investment for years.... Retrogressive taxation NOW, when the budget 2006-07 has been announced, people from different walks of life have started questioning the rationale behind the introduction of three new taxes.... Weekend rally helps recoup some losses Weekend rally enabled the stock market to recoup some initial losses but the underlying sentiment remained nervous owing to massive manipulation by some leading punters.... Rupee moves both ways THE rupee moved both ways versus the dollar in the currency market on June 5, amid low trading. It shed two paisa against the dollar over last week close of Rs60.11... Cut-off yield on six-month T-bills rises by 15 basis points ON June 7, the State Bank of Pakistan increased the cut-off yield on six- month Treasury bills, which was about five-year highs.... Wholesale markets in Karachi stay quiet THE post-budget trading week on the Karachi wholesale commodity markets did not witness any major changes in the price outlook of essential items as traders held on to their stocks rather than indulging in panic selling....

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