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April 28, 2008 Monday Rabi-us-Sani 21, 1429 The fiscal imperative of tax reforms “Pakistan’s fiscal crisis is deep and cannot be easily resolved. Taxes are insufficient for debt service and defence. If the tax to GDP ratio does not increase significantly... The beauty of opaque deals PEOPLE cannot be blamed if they have develop insatiable appetite for controversies. Many privatisation deals in the past were found to be less transparent than desirable.... Surplus and shortage in power generation Industrial zones are emerging as sources of cheap electric supply to Wapda and KESC with a potential believed to be enough to meet up to 20 per cent of power shortages.... How to achieve food security? FOOD security has been a global concern. At times, the world was simply short of food supplies. The infamous Bengal famine was not a case of shortage.... Changing the resource base in farming PAKISTAN is in the throes of an agriculture debacle and the simplistic solutions that are being offered are far removed from reality. I have nothing but.... Stocking grains for family use IT is shocking that ten Afghans are reported to have died and more than 100 fallen ill with liver disease after eating wheat contaminated with a poisonous plant that.... Snags in dairy farming COMMERCIAL dairy colonies in Karachi as well as in other big cities are providing a better market for high-yielding buffaloes and providing job opportunities.... Manufacturing textile machinery TEXTILE is the country’s single largest industry. Yet it is totally dependant on imported machinery, equipment, accessories and spares. The local facilities for manufacturing textile machinery items practically do not exist... Inappropriate demand trends in oil market GLOBAL oil markets are in turmoil. In a sustained and exceptional bull-run, US crude has risen from less than $20 a barrel in beginning of 2002 to an unprecedented height of $120.... Structural transformation: myth and reality It is simplistic to assert that population shifts are the same as structural transformation. Structural transformation in the Lewis theory of development begins with a shift of surplus rural labour to urban areas.... World commodities Oil:Last week, oil rose to near $120 a barrel in New York as the... Fear of hunger The Economic Committee of the Cabinet (ECC) has decided to import 1.5 million tonnes of wheat to meet its shortage. It also has decided to procure five million .... Muddled-up mass transport WITH barely a third of Indians living in cities, urban transportation, especially inter-city mass transportation, has never really excited decision-makers. ... Reconstruction opportunity zones: a ray of hope for exports? As the eight-year long ‘economic miracle’ begins to unravel, one of its more obvious manifestations is the galloping trade deficit that by the end of the current fiscal could exceed our total foreign exchange reserves.... The choice between imported coal and furnace oil The new PPP-led government has inherited the daunting task of overcoming the longer and increasing periods of load-shedding. However, overcoming load-shedding .... Improving work culture With food and power security threatening the social fabric, the new government would do well to have a fresh look at the working and utility of the Indus River ... A passion for exports in bad times WHAT is unfortunate in the prevailing circumstances is the irresistible greed of a section of Pakistani traders to sell food crops abroad simply because the higher prices.... Bio-fuel or food? The rising world food prices seem to have forced the UK government to take a second look at its transport fuel policy which compels suppliers to provide 2.5... Inflation — who to blame? The State Bank of Pakistan has recently released the second quarterly report for FY 2007-08, unveiling the skyrocketing inflation figures. These figures came as no surprise to the masses, who are... Loan disbursements to tackle fiscal deficit At least one international financial institution has agreed to ‘rescue’ the new coalition government by expediting disbursement of its loans that can provide .... Higher corporate profits put stocks back on rails A STRONG rally at the fag end of the last week again put the market back on the rails allaying fears of extended sell-off by the weak holders and speculative.... Commercial banks’ deposits show increase The State Bank of Pakistan sold Rs100 million worth of 6-month T-bills and Rs416.86 million of 12-month paper. It had received total bids worth Rs21.21 billion.... Rupee at six-year low The American and European currencies are continuously expanding ground versus the rupee in the local currency market due to weak domestic economic indicators,.... Prices of pulses, rice and sugar increase PRICES of some of the essential commodities on the Karachi wholesale markets continued to rise last week as leading stockists held on to their positions in an apparent ....

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