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title26_small.jpg (21336 bytes)The challenge facing the financial sector, after the Supreme Court judgement regarding Riba, is re-engineering of the existing system according to Islamic conjunctions. The other issues facing the commercial banks are: heavy dependence on T-Bills as source of income, lack of innovative financial products to suit needs of various income groups, fierce competition in resource mobilization, shrinking spread and slow pace of economic recovery. There is a suggestion to increase paid-up capital requirement of commercial banks to one billion rupees. Can the increase in paid-up capital requirement lead to mergers and acquisitions?

BUDGET 2000-2001
Abolition of Wealth Tax, duty free import of computer equipments for growth of information technology, poverty reduction programme and income tax relief to the low-income groups and salaried class are some of the outstanding features of the budget. The CBR related revenue target has been fixed at Rs435 billion, which is higher, by Rs84 billion as compared to the target of Rs351 billion set during the previous year.

Like elsewhere in the world transport sector is the chief culprit of air pollution in Pakistan. The high lead and sulfur content in the motor fuel used in Pakistan poses immense danger to health of millions of people, particularly in the cities. The government's plan to reduce the lead and sulfur content in motor fuel though late is nevertheless welcomed as a sort of beginning as much still remains to be done.

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