Though,
the Budget for the financial year 2001-2002 has been termed mostly
sector neutral, efforts to balance tax collection and expenditures is
expected to pave way to qualify for PRGF arrangement with the IMF. The
policies persued so far have helped in restoring Pakistan's
credibility with the international financial institutions. The sector
specific policies will play a key role in determining quantum of fresh
investment, broadening manufacturing base and achieving higher GDP
growth rate.
SPECIAL
REPORT - OIL IMPORT
From
1st of July 2001 the import and pricing of fuel oil and high
speed-diesel will be looked after by the private sector in Pakistan.
It is however yet to be seen how the decision of deregulation goes to
the benefit of the consumers. The price of electricity and POL
products may not come down in Pakistan unless the consumers are given
some relief from heavy taxes imposed by the government on electricity
and oil consumption.
CANADA
This week we are
publishing an exclusive article "Canada in a global
economy". With an area of 10 million square kilometres (over 3.8
million square miles), Canada is the second largest country in the
world, but given its population of only about 30 million, it is one of
the least densely populated. It has been argued that Canadians, more
than most people, tend to define the world and their place in it in
terms of geography. In part, this may reflect the feeling of space and
unlimited resources that result from the low population density.
