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The year 1998-99 was not very different from previous years and post nuclear scenario caused further economic slow down affecting underwriting of new leases. Now, there seems to be a visible change in investors' sentiments. In the absence of other sources for medium-term funds, borrowers will be looking towards the leasing sector to meet their funds requirement. The volume of business is expected to grow. Higher volume may compensate for the shrinking spread. However, ultimate profit margins will be depended on a number of other factors.



The Karachi Cotton Association (KCA) has strongly opposed the intervention by the public sector into cotton or other commodity trade in Pakistan. The KCA's board of directors has called the increasing involvement of the public sector into cotton trade against the principle of free market economy. A new cotton policy is due next month which is expected to provide maximum benefits to the growers.


"The nation is facing the challenge not only to achieve growth but to achieve sustained growth which is consistent with the highest values in the interest of the country. "We do have the potential to grow but since we are already left far behind, we need to accelerate our endeavour to create new initiatives", it was recommended by the conference on Human Resource organized by Pakistan Society for Training and Development."


Pakistan's economic performance over the last several years has been disappointing. Serious lapses in implementation of structural reforms and stabilization policies have been mainly responsible for current economic problems. PAGE reports the mid-year review of economic performance.


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