Economic Review articles from October 1999

Economic Review archives from October 1999

LETTERS TO THE EDITOR.
October 1, 1999... The Ouster of Nawaz Sharif The exit of Mr. Nawaz Sharif has given relief to the nation. The nation owes a debt of gratitude to Gen. Pervez Musharraf for rescuing the country from the clutches of plunderers who thought they had a freehand...

Kalia Security Vault (Pvt) Limited.
October 1, 1999... KALIA GROUP: A TRUSTED NAME IN PAKISTAN, known for exploring new avenues for servicing their valuable customers. They are also known for their honest and dedicated services in various fields, especially in FINANCIAL SECTORS in the view of...

Fourth Military Take-Over.
October 1, 1999... At last, the ongoing tussle between the ousted government of former Prime Minister, Nawaz Sharif and the country's powerful army, headed by Chief of the Army Staff, General Pervez Musharraf ended, bringing the 32-month old rule of Sharif's...

IMF and Pakistan Economy.(International Monetary Fund)
October 1, 1999... Suspended IMF tranche under ESAI/EFF may force Pakistan to default on repayments Pakistan depends heavily on multilateral and bilateral financing to meet its balance of payments deficit and makes necessary structural adjustment and...

Life Sketch of General Pervez Musharraf.
October 1, 1999... The new Chief of Army Staff, General Pervez Musharraf comes of a very distinguished family. His father who migrated from Allahabad (UP, India) was a career diplomat who had served as Ambassador of Pakistan in Turkey. General Pervez Musharraf...

Martial Laws in Pakistan.
October 1, 1999... THE FIRST MARTIAL LAW When martial law was imposed for the first time in Pakistan, I was only six years old and too young to realise how it would change and shape my future life. My mother was taken in by the euphoria. She happily believed...

The Anatomy of Default.
October 1, 1999... Widespread defaults on loans in Pakistan is a reality that the ruling classes had been living comfortably with during the past quarter century as it suited their designs while the nation remained aloof from this widespread corruption. ...

A Close Run Thing.
October 1, 1999... Look at the role the United States has played in this drama. It is obvious, is it not that Washington had a big part to play (foolishly, and shamefully, yet again) in the attempted destabilisation of the army? There are reports in the press of...

National Security Council.
October 1, 1999... The eagerly awaited appointment of four civilians to the National Security Council (NSC) on October 25 was met with a generally negative response from the public. For some, it was an unpleasant surprise, while for others the first hint of the...

New Governors.
October 1, 1999... The four provincial governors were the first set of appointees announced by the military regime. If anything, these choices indicate that regardless of its radical rhetoric, the new dispensation is going to be manned by non-political members of...

Aziz Vows to Restore Business Confidence.
October 1, 1999... Finance Minister Shaukat Aziz has outlined restoration of business confidence and resurrection of investment climate in the country as his top-most priorities. However, he observed that the process of economic revival would take time. The...

Money Laundering of Over $100 million by Nawaz: The Observer.
October 1, 1999... Malik's report last year was painful enough for the deposed Prime Minister, as were the cat-and-mouse tactics by which Malik has been a thorn in his side since. The 200-page report, smuggled into the country on Sharif's official Jumbo jet, set...

The New Finance Minister.
October 1, 1999... For the past six years, he has been looking after the monetary side of the economy in his position as SBP governor. While enjoying the respect of international donor agencies - which most bankers attribute to his time at the IMF - many in the...

Million of Dollars Skimmed by Nawaz.
October 1, 1999... Pakistan's deposed Prime Minister, Nawaz Sharif, skimmed hundreds of million of dollars from public works, wheat imports, sugar exports and other government projects, according to detailed records compiled by the nation's most prominent...

Dawood Calls for Increasing Exports.
October 1, 1999... Minister for Commerce, Industry and Production, Abdul Razak Dawood received an initial briefing ongoing issues in the trade sector. In a 2-hour briefing, which he held early in the day, the minister called for developing strategy and...

Marketing Without Sales.
October 1, 1999... A Workshop on "MARKETING WITHOUT SALES" for executives and managers of Local and Multinational companies was held at Pearl Continental Hotel Karachi under the auspices of QLM (Quality Learning Methodologies) and the SITE Association. ...

Cotton Production During 1999-2000.
October 1, 1999... AGRICULTURE Cotton Crop Assessment The Standing Committee on Cotton Crop Assessment has estimated that cotton production during 1999-2000 will reach around 10.5 to 11 million bales owing to marginal increase in the area sown and...

Public Sector.
October 1, 1999... The losses of public sector enterprises like WAPDA, KESC, PIAC, Pakistan Steel, Pakistan Railways, etc., rose to over Rs. 150 billion during this period, while the provincial governments' especially the three smaller provinces, have been pushed...

World Food Programme.
October 1, 1999... The Islamic Development Bank (IDB) has approved a Two Step Modaraba Financing Operational Facility of $84 million for import of Petroleum and Petroleum Products for Pakistan. State Bank Governor Dr. Muhammad Yaqub expects that the IDB will also...

KSE Listed Companies.
October 1, 1999... The State Bank has decided that financing against shares of all listed companies will be at 30 per cent margin, instead of 50 per cent. On October 21, 1999, the State Bank had announced that facilities against the shares of listed companies...

Machinery Parts.
October 1, 1999... The importers of machinery and spare parts are no more required to deposit 20 per cent as cash margin. The State Bank withdrew the condition of depositing 20 per cent cash margin for the import of machinery and-spare parts. "With a view to...

Special Industrial Zones (SIZs).
October 1, 1999... Many industries in the established industrial regions of the country have gone sick as economic planners provided tax exemptions to similar industries in Special Industrial Zones (SIZs) established in remote areas. Industry in Pakistan had...

Biscuit Industry.
October 1, 1999... Most of the biscuit factories in the country suffered heavy losses as the biscuits manufactured in the exempted regions flooded the markets throughout the country. In order toward of this competition, most of the multinationals established...

Plastic Industry.
October 1, 1999... Plastic industry suffered more than the biscuit industry as besides in the absence of sales tax, the plastic products manufacturers in the exempted areas also benefit from the low cost of law material which the factories at Gardoon Amazai...

Sugar Industry.
October 1, 1999... At the beginning of the crushing season, the sugar industry, the second largest agro-based industry of Pakistan is looking forward to a rebate of at least Rs.4.5 per kilo gram for the expected 200,000 tonnes of surplus sugar to exported, during...

Malakand Project.
October 1, 1999... NWFP Chief Minister Sardar Mahtab Ahmad Khan formally launched the Rs.3.82 billion Malakand Rural Development Project (MRDP) to carry out infrastructure development of Sawat Buner and Shanghai districts and Malakand Agency. The seven-year...

Gas Supply Project.(Brief Article)
October 1, 1999... The UAE Offset Group has planned to invest $8 billion in its Dolphin programme, meant for supply of gas from the fields of Qatar to the markets in the United Arab Emirates. According to the MoU signed with Pakistan, Dolphin would cover the...

Pak-Kuwait.(Brief Article)
October 1, 1999... Pakistan Kuwait Investment Company (Pvt) Limited (PKIC) is interested in buying various state-owned entities like Pakistan State Oil (PSO), Pakistan Petroleum Limited (PPL), Hyat Regency and private sector power projects. General Manager PKICC...

Sell of PTA Project.(Brief Article)
October 1, 1999... ICI Imperial Chemical Industries (plc) is likely to sell the $490 million Pure Terephthalic Acid (PTA) project of Pakistan in the next 12 months, as the venture caused the company a loss of Rs.2.465 billion in the first six months ended June...

Market Now Bullish.(Brief Article)(Statistical Data Included)
October 1, 1999... There are several positive factors that kept the prices in the stock market quite firm, UB President had lifted sanction of commercial and agricultural loans to Pakistan. Meeting of the finance Minister with the IMF gave the hope that held up...

General Tyre and Rubber Co. Ltd.(Brief Article)
October 1, 1999... General Tyre and Rubber Co. Ltd. posted 37 per cent growth in after tax profit for the year ended June 30, 1999 to Rs.102.1 million from a year ago taxed profit at 74.6 million. The company recommended a final cash dividend of 15 per cent in...

Al-Zamin Leasing Declares 12.5 pc Dividend.(Brief Article)
October 1, 1999... The Al-Zamin Leasing Modaraba has approved a cash dividend of 12.5 per cent to the certificate-holders for the year ended June 30, 1999. Al-Zamin achieved an unprecedented growth of 41.25 per cent in the balance-sheet footings despite difficult...

Vital Statistics at a Glance.(Brief Article)(Statistical Data Included)
October 1, 1999... Vital Statistics at a Glance September August Companies Listed on KSE (Nos.) -769 769 Paid-up Capital (Rs. billion) 220.009 219.847 Aggregate Market...

DIVIDENT ANNOUNCEMENTS.(Statistical Data Included)(Brief Article)
October 1, 1999... DIVIDENT ANNOUNCEMENTS Divi- Bonus/ dend Right Book Companies (%) (%) Closing Berger Paints 25 -- 11.10.99 Bhanero Textile...

First HBL Modaraba.(Brief Article)
October 1, 1999... First Habib Bank Modaraba has declared a cash dividend of 15 per cent as its profit recorded an increase of 7.40 per cent to Rs. 74.86 million for the year ended June 30, 1999. This was announced by the Board of Directors of Habib Bank...

Pak-Gulf Leasing Co. Ltd.(Brief Article)
October 1, 1999... PakGulf Leasing Company Limited (PGL) earned a profit of Rs.10.555 million for the year ended June 30, 1999, 26.18 per cent increase over last year's earning. The Chairman of the company while highlighting the results during the 6th Annual...

First Grindlays Modaraba.(Brief Article)
October 1, 1999... First Grindlays Modaraba (FGM) declared a 22 per cent cash dividend for the year ended June 30, 1999, as it earned a net profit of Rs. 114 million in the period under review. The net profit for the year ended June 30, 1999 at Rs. 114 million...

Engro Chemical.(Brief Article)
October 1, 1999... Engro Chemical Pakistan Ltd. has declared second interim dividend worth 20 per cent as its revenue during nine months of 1999 showed a growth of Rs. 324 million compared with same period a year ago. The urea plant operations were steady which...

Top Ten Companies According to the Turnover in September - 1999.(Statistical Data Included)
October 1, 1999... Top Ten Companies According to the Turnover in September - 1999 Companies Total Turnover Highest Lowest Hub Power Co. 1,056,248,500 20.40 17.15 PTCL 'A' ...

Top Countries According to Population Size.(Statistical Data Included)
October 1, 1999... Top Countries According to Population Size Population Population 1999 2010 (1000s) ...