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The
central bank has released second quarterly report for the current
fiscal year at a time when almost nine months have completed. Despite
the aftermath of September 11 incident and subsequent events,
performance of the economy has been above satisfactory level. The most
important being, a surplus current account, increase in forex inflow
and reserves and decrease in trade deficit. Both, agriculture and
large scale manufacturing sectors registered growth rates higher than
those attained during corresponding period of last year. The key
issues being faced are reduced water availability and potential
decline in exports. The other areas which need focused attention are
continuation of reforms, foreign direct investment and law and order
situation. |
HIKE
IN DRUG PRICES
The imposition of 15 per
cent sales tax on all varieties of drugs — imported, locally
manufactured, non-essential, life-savings and low-cost homeopathic —
and imported active raw ingredients through an Ordinance on March 21
with immediate effect further undermines an already uncaring public
health system. PAGE highlights the harmful impact with
particular reference to already high drug prices.
CARPET
Pakistan's hand-knotted
carpet industry has started assuming a prominent role in the world
market. Produced with 100 per cent locally make material, the carpet
industry made a valuable contribution of around $300 million in the
overall exports of the country last year. For the first time the
hand-knotted industry fetched such a respectable export figure in the
fiscal year 2001.
