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October 08, 2007 Monday Ramazan 25, 1428 Outlook for cotton and rice crops A CONTINUOUS supply of spurious and uncertified seeds, through legal and illegal means, is threatening the country’s agriculture as is evident from recent reports of pest attacks on cotton and rice crops in Sindh and Punjab.... ‘Power freaks’ and institution building The people are witness to what happens when the government tries to use unrestrained power to achieve its narrow political ends at the cost of independent institutions so badly needed for improved governance....   Is oil price going to hit $100 a barrel? “All the various components (of the global energy crisis) came together after 9/11, and 9/11 was a major factor in bringing them together. Once we realise this, many other developments fall... Technology package to promote oil palm OIL palm is an important plant for obtaining edible oil. It is a tropical plant which grows in warm climates at altitudes of less than 1,600 feet above sea level.... Managing weed in direct-seeded rice TRADITIONALLY farmers transplant rice in puddled soils, as they believe that rice requires more water for better growth and good yield. The other reason is that puddling does not allow emergence of weeds.... Fertiliser choice for a good crop yield DURING the ’50s and ’60s, use of fertiliser in the country was very limited. The reasons behind increased use were the introduction of high-yielding varieties of wheat, rice and cotton, expansion... Constraints on milk production THE per capita consumption of milk in the country, which is the world’s fifth largest producer of milk, is not at an optimum level due to a gnawing gap between demand and supply and rising prices.... Disasters: natural or social? Disasters happen in society, of which economy is a subset. Compare the extent of damage an earthquake would cause in a Mongolian desert with people living in tents with the extent... Development disparities and the MDG targets The Millennium Development Goals (MDG) report 2006 on annual update produced this year, provides information on the state of human development indicators up to year 2005.... World commodities In the London market, oil prices had risen to above $83 a barrel on September 28 and closed at an all time high as fund buying, spurred by a weak dollar,... Investors’ rush for telecom licences THE booming telecommunications sector in India is attracting both domestic and international majors (not necessarily telecom players), lured by the huge potential for growth and lucrative profits.... Global stakes in the dollar There is a debate among American economists on whether a strong US dollar serves the country better or a weak one for now. The argument has arisen due to the failure... Lapses in anti-money laundering law The Anti-money Laundering Ordinance (AMLO) promulgated on September 7, 2007 provides for prevention of money laundering and forfeiture of property derived from, or involved in money laundering.... Rising equity investment Within first four days of October Pakistan attracted over $35 million net portfolio investment. This came as a reversal of the trend seen in the first quarter of the year.... Gold shines as greenback fades On October 1 the price of gold shot up to $746.3 an ounce—its highest level in nearly 28 years. It, however, eased afterwards on profit taking and is now hovering around... Corruption index analysed Many of us seem to be quite smug about the fact that Pakistan’s Corruption Perception Index (CPI) as compiled by Transparency International has moved a notch up to 2.4... Fiscal deficit and macroeconomy Writing about the macroeconomic impact of fiscal deficit, James Tobin, the Nobel laureate in Economics in 1981, observed: “Few issues of economic theory and fact evoke such polar disagreement.... Emerging markets likely to escape financial turmoil The emerging markets including Pakistan are likely to escape the ongoing financial turmoil in the developed markets. In fact, these emerging markets led by China and India are said to be contributing a good measure of stability to world economy.... KSE index crosses the 1,400-point barrier STOCKS maintained their upward drive for the sixth week in a row as investors continued to build up long positions on selected counters on the perception that existing financial and economic policies will continue after the presidential election.... Rupee remains firm versus dollar/euro The rupee maintained a firmed trend versus the American and European single common currencies in the local currency market this week.... Commercial banks’ deposits show Rs26bn increase According to the weekly statement of position of all scheduled banks for the week ended September 22, 2007, deposits and other accounts of the scheduled banks stood at Rs3,407.446... Wheat prices increase, rice cheaper PHYSICAL activity on the Karachi wholesale commodity markets during the previous week remained a bit slow as buyers were not inclined to make fresh purchases at rising prices of most of the essential items....

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