 Quaid-I-Azam
Mohammad Ali Jinnah, in his first speech after creation of Pakistan
had singled out "bribery and corruption" as one of the
biggest curses which India was suffering.
Obviously, the father of the nation had pointed out these ills to
sound a bell of warning for the newly born nation to refrain from
these curses to live respectfully among the committy of the nations.
People are celebrating the 53rd Independence Day, but with out a true
sense of independence. The rampant corruption and bribery to flourish
has eroded our political and economic sovereignty.
MICRO-FINANCE
BANK
Pakistan's first
Micro-Finance Bank (MFB) has started its operation from Dera Ghazi
Khan on 11th of August. The Micro-Finance Bank, will develop pro-poor
financial system which will ensure collateral-free lending to the
people at grass root level. It will extend facilities between Rs
5000-30,000 on peer pressure concept to the needy persons. MFB will
provide credit to 100,000 people by 2001.
NETSOL
After putting
Pakistan on the world IT map by clinching hi-end orders from blue-chip
multinationals overseas, Netsol, the premier IT consultant and
software developer, has forayed into the local information technology
sector. Netsol, the first and the only Pakistani originated company
listed on the NASDAQ, launched a fully owned subsidiary Netsol eR to
start a nationwide ISP, NetsolCONNECT, to provide a range of
value-added services in Pakistan.
CAPITAL
MARKET REFORMS
The reforms
initiated in early nineties have resulted in increase in number and
capital of listed companies. Still, the base is small and market can
be maneuvered, if some people have got the funds. There is need for
improving surveillance to ensure sustained growth.
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