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October 23, 2006 Monday Ramazan 29, 1427 Faultlines in renewable energy policy draft THE government is all set to launch a policy for the development of renewable energy. The 76-page policy document, claimed to be the first-ever, was finalised last week by the ministry... Economic downturn or de-regulation blues? IN the first quarter of FY 2007, credit off-take has been below expectations while repayments (many representing pre-mature settlement) have been high. Rise in outstanding credit over FY06 has therefore been only 1.5... A retrogressive taxation system DOES Pakistan’s taxation system promote or retard manufacturing growth? Is it industry-friendly? And one final question: Is the tax burden fairly distributed?... Profiting from saline tolerant crops Salinity poses a major threat to agriculture. It can be managed either by physical manipulation of the environment (leaching, drainage, water quality) or genetic manipulation of plants to enhance biological tolerance.... The joys of terrace gardening ROOF gardens began in Europe a long time back and have now become a latest trend in gardening. Not only are terrace gardens beautiful and unique, they are also efficient in many ways.... Commercialisation of agriculture SOME unique and new innovative ideas are needed to improve resource allocation and productive efficiency of agriculture. Now when agriculture is turning into a business, it is the need of time to take this as any other businesses.... Goat farming improves peasants’ lot GOATS are an essential part of small ruminant farming systems and are raised for meat, milk, fibre, pelts and skins. The relative importance of each of these products varies from region... Failure of a mega drainage project A World Bank Inspection Panel has acknowledged serious flaws in planning, design, execution and supervision of the much criticized mega projects Left Bank Outfall Drain (LBOD) and National Drainage Programme (NDP).... World commodity report THE Organisation of Petroleum Exporting Countries (Opec), decided to lower output by 1.2 million barrels per day from November 1.... Indigenisation of auto sector Prior to government take-over in 1970’s, a private sector company dealt with Bedford trucks, buses and other vehicles while another company dealt with their engines. The deletion of foreign parts in truck chassis varied between 20 to 22 per cent.... Tata’s expanding business empire INDIA Inc, which at one time used to find it difficult to raise even $500 to fund the foreign trips of its top executives (thanks to the precarious foreign exchange position... Hydro profit award and Wapda’s response THE unanimous decision by a five-member tribunal to raise NWFP’s share in net hydro profit (NHP) has come as a big victory for the Muttahida Majlis-e-Amal (MMA) government ahead of the coming general elections.... Reducing the debt burden Pakistan’s external borrowing requirements are increasing because of surging imports, falling exports and ballooning trade deficit. The rising domestic demand, fuelled by high economic growth, is being met by unsustainable level... New netting regime and settlement risk November 2006 is going to be an eventful month for the stock market. It should see implementation of a number of critical directives by SECP.... Provincial autonomy — between hope and despair THE good news is by the next budget the provinces will hopefully start enjoying enhanced autonomy. But the not- so -good news is the Waseem Sajjad Committee which has been tasked... Diverse economic trends WHAT is the significance of a decline in commercial bank credit to the private sector after four years of continuous growth particularly when it is the private sector which has been... Foreign firms eyeing the insurance market Pakistan is expected to experience an explosion of insurance business and firms as an expanding insurance cover is required in an environment of high economic growth, particularly for the industrial and services sectors.... Oil and bank shares pushing the index to new highs THE stocks ended the week on a terribly bullish note as investors were not inclined to miss the rising market ahead of a long weekend on account of Eid holidays, and the market’s highly overbought position.... Dollar supply remains comfortable THE rupee/dollar parity showed mixed sentiments this week, trading in a narrow range in the local currency market. There was comfortable dollar supply on account of strong inflows of overseas remittances... Central bank auctions T-Bills worth Rs2bn THE State Bank of Pakistan sold Rs2 billion of Treasury Bills in 13-day repo operations at 8.6 per cent to mop up funds from money market.... Wholesale markets relax ahead of Eid holidays PRE-Eid holiday mood prevailed on the Karachi wholesale commodity markets last week as both buyers and sellers mostly kept on to the sidelines as they refrained from making fresh commitments nearly on all counters....

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