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COVER STORY
INDEPENDENCE DAY
Time to follow Quaid's principles

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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