The
Insurance Ordinance 2000 announced last month is aimed at regulating
the financial, administrative and the working aspects of the business
at all levels to promote development of the insurance industry on
professional lines and to offer better protect to the insureds. PAGE
highlights the impact it would have on a business which remains still
much involuntary in Pakistan.
Special
Report
The
current issue carries a special report on WAPDA-HUBCO dispute written
by Dr. Anjum Siddiqui. Dr. Anjum is an Economist and currently
associated with Hub Power Company as the Senior Advisor on Financial
Risk Management.
Oil
A
10 to 15 per cent average increase in local retail oil prices seems
inevitable in view of the formidable rise in international prices. The
existing oil prices were fixed when international oil prices were $28
per barrel, which currently shot up to $33 per barrel.
The chain effect of the proposed increase however is a source of
concern for the people in general.
Negotiations
with the IMF
While
there seems to be no major point of disagreement between the IMF and
the current economic managers, the negotiations are taking slightly
longer time. Besides, approval of funding is taking more time as the
IMF, is getting too many requests because of high crude oil price
affecting balance of payments of a large number of countries.
