The
year 1999 was an eventful year giving new directions to the socio-economic and political
life in Pakistan. On October 12, 1999 an action pack tussle between Prime Minister Nawaz
Sharif and Gen. Pervez Musharraf for power ended in favour of the General. Aversion of a
possible nuclear war between India and Pakistan as a result of occupation of Kargil peaks
by Muahideen which led to a serious border conflict. Shooting down of two Indian aircraft
by Mujahideen and downing of a Pakistani surveillance aircraft by Indian forces in which
several lives were perished. Exciting beginning and end of the prize schemes of commercial
banks. Historic recovery of stuck up bank loans. Hair raising crime against 100 children
were the top stories of the year.
PSF
Three PSF manufacturers have posted improved
profit margins for the year 1999. This was due to higher sales volume, cost controls and
lower prices of PTA and MEG. However, the profit margins are expected to go down in year
2000.
MERGER
A scheme for the merger of D. G. Khan Electric
with D. G. Khan Cement has been announced. While the objective is to optimize cost, the
shareholders of D. G. Khan Electric may not gain as the cement sector continues to suffer
due to over-capacity and higher cost of production.
SMUGGLED VEHICLES
CBR has announced one time amnesty to smuggled
vehicles and this facility will also be available to those owners of cars that have
already been confiscated. However, this scheme is not applicable to vehicles which have
already been auctioned or released on payment of duty and taxes.
