The new cotton policy still allows
intervention by the TCP despite the claims made otherwise. It is expected that the
intervention will be minimal. The quota regime will be completely phased out by December
31, 2004 and there is a need to encourage production of superior quality as well as higher
value addition. If the textile industry is not ready to follow this at its own the other
alternative is to discourage export of low value-added products..
The oil prices are likely to be linked with international prices
in the coming June. A 15 per cent GST will replace the heavy tax of Development Surcharge
from oil sector. This cutting edge policy may deprive the government of Rs70-80 billion
revenue but will be boosting economic activity at a massive scale in the private sector.
The decision may also bring the on-going tussle between WAPDA and IPPs to an end. It
sounds amazing that both WAPDA and HUBCO claim committed to resolve the tariff issue yet
the tussle goes on endlessly.
A new concept of financing for the purchase of household items and
motorcycles at affordable markup rates was introduced by Home Alliance in Karachi last
month. The company plans to diversify its range of products to include computers, new
locally produced cars and comparatively low priced home appliances. PAGE looks at
the changing face of financing with the opening of the company.
The need of developing wind energy as the most cheapest, most
reliable and maintenance-free alternative source of energy has failed to draw the due
attention which it deserves in a power-deficient country like Pakistan. PAGE
highlights the inherent benefits of harnessing the wind energy which is less capital
intensive, more reliable and requires negligible maintenance costs than solar energy.