not only directly influences the industrial and trade activities but also causes political
instability, social unrest and economic insecurity. The aim of any economic policy is to
deliver social progress which, however, remains elusive if there is high and persistent
unemployment. PAGE highlights the issue to generate a meaningful public debate to help
find the corrective measures.
Over four lakh families, are
fearing joblessness due to strike called by the coal mine owners to protest against the
levy of 18 per cent General Sales Tax.
The coal mine owners, in the province of Punjab and Balochistan, have described imposition
of General Sales Tax beyond their capacity. The coal mine sector deserves a concession in
view of its importance as it offers a cheaper substitute out of country's own resources
against the costly imported oil.
Leading players at
the stock market anticipating that financial reforms, introduced by the government
recently plus, expected peace agreement regarding border may prove the biggest equity
trigger of the year. KSE which crossed over 1,100 points barrier has created a feeling
that the investors have sensed that market is returning to normalcy. Recent elevation of
the index is the positioning exercise by the large investors.
Import of about
half a million cotton bales has helped in improving availability and containing its prices
in the local market. It is suggested that the policy of free trade of cotton should be
continued. It is also necessary to make the cotton estimation process more scientific.
There is wide fear of weakening
rupee. Even the ability of the central bank is being questioned. This fear is based on the
administrative measures taken to curb the forex demand. However, it is suggested that
policy measures could have more positive impact on reducing imports.