Sep  30 - Oct 06, 2002   
ISSUE # 39  

The global economic downturn has given the Pakistani IT to assess its strengths and weaknesses. It has given it an opportunity to re-evaluate the direction to lessen its dependence on software exports overseas and instead to focus on creating a strong domestic base. The brain drain depriving the country of the services of top IT professionals has come to a trickle while only the serious students are entering the field now. It is imperative for the policy makers and the industry to utilize the vast surplus of these professionals to develop a solid domestic base for locally developed IT services.


Despite many odds, internal and external, the Privatization Commission has been able to do a lot. Some of the mega transactions may be delayed due to general elections scheduled for October 10, 2002. However, adequate groundwork has been done to facilitate the next elected government to continue this programme.


Enthused by the success of their earlier off-load of Rs18.6 million shares to the general public in November 2001, National Bank of Pakistan has once again entered into the stock market to public yet another 5 per cent shares. The impressive response to the first transactions when the shares were oversubscribed which doubled the size of the offered shares, the managers of the proceedings have recommended that instead of Rs10, the price will be Rs21 per share this time.