Pakistan faces strong market
challenges in the globally competitive arena. It has all that it needs to compete but is
there anyone who can consolidate these resources with wisdom and determination? this week
Mohammed Murad highlights the true potential of Pakistan with areas of concentration and
some suggestions.
COLOURED COTTON
Coloured cotton has gained popularity due to
its exotic shades and higher premium. The second generation of hybrids has yielded
encouraging results in Pakistan and efforts are being made for commercial cultivation.
PRIVATIZATION
Yasin
Lakhani, president of Karachi Stock
Exchange has said that bourses in Pakistan have capacity to accommodate government's plan
to privatize public sector entities through stock exchanges. Citing the existing liquidity
strength in the market, he referred HBL which alone collected around Rs12 billion against
its Crorepati prize scheme while the overall collection of money by three major banks
under the prize scheme was estimated Rs65 billion. Moreover new Government's prize bonds
did not fall behind and so far attracted Rs 72 billion. All these performances give a
strong signal about availability of funds in the market.
RESCHEDULING
Although the rescheduling agreements accorded
with foreign creditors i.e Paris Club and London Club which has given a sigh of relief to
Pakistan, yet it is a temporary phase as the agreement will expire in 2001 and a second
rescheduling will be required for debt servicing.
