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COVER STORY

NETSOL LEADS THE WAY

Despite clinching world-class projects from bluechip companies around the globe, the Pakistani IT industry remained the best kept secret until recently. What has put the country on the world IT map is the listing of Netsol, a fully locally owned company, on the Nasdaq. Netsol has become the first Pakistani company, and the third in the sub-continent, to get listed on to Nasdaq to give international exposure not only to itself but also to boost the image of Pakistan as an upcoming IT prowess.

 


SBP REPORT
Increase in import bill due to rising oil prices, stagnant new investment in the private sector and restrained public sector investment due to budgetary considerations are some of the negative points indicated by the SBP report.
Upsurge in the Stock Exchange activity, a noticeable pick up in the credit to the private sector, impressive increase in industrial production and in a number of agriculture crops have been described as some of the important positive economic developments.

FURNACE OIL
While a handful of share holders are jubiliating over unprecedented 90 per cent final cash dividend declared by Pakistan State Oil (PSO), the poor masses are being crushed under the ever growing oil prices causing multiplier effects on general prices whenever they are enhanced in Pakistan. It is believed that PSO has posted profits for the year 1998-99 at Rs2,617 million because the monopoly it enjoys in the regulated oil market in Pakistan.  

MAP SEMINAR
Long-term consistent economic policies, expeditious privatization, maintenance of law and order and an effective curb on smuggling were termed prerequisite for industrial development at a seminar organized by the Management Association of Pakistan.


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