. .



During Financial Year 2002, KSE implemented several structural developments which include complete implementation of the T+3 system, rationalization of risk management measures (deposit requirements, capital adequacy and up tick/down tick fluctuation bands) changes in the carryover market and more recently the launching of the new trading system. The increase in foreign investment was stated to be in line with the rise in KSE-100 index demonstrating upward trend from last year's 1200 points to 1900 points this year. This appears to reflect greater confidence of foreign fund managers in the Pakistan market's prospects due to its positive economic outlook, hefty reserves and stable exchange rate.

 


KESC
The GoP was able to swap debt with equity but at the last minute commercial banks refused to accept bonds at higher interest and insisted on T-Bills at lower rates. The ailing utility has gone through a number of financial restructurings but financial condition has gone from bad to worse.


WORLD CUP
The absence of Pakistan from the FIFA World Cup co-hosted by Japan and South Korea this month has failed to dampen the passion of sports lovers in the country. The event has provided welcomed opportunities to the advertisers to boost their sales. However, the matter of concern is that Pakistan is not even associated with the event even indirectly as footballs used in the tournament are supplied by Nigeria instead of Pakistan to deliver a blow to the sports goods manufacturers and exporters.


 

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