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COVER STORY

THE YEAR END REVIEW

Dec 28 - Jan 05, 2003   
ISSUE # 52  

The year 2002 carries various distinctions especially in the social, political and economic areas. On the political side, representatives of the people have already taken their seats in the house of legislatives and an elected government is also installed. Economic revival program has started to produce good results. The improvements in governance of public entities, the improved creditworthiness, reduced tariff, the competitiveness and new stability of the exchange rate, the fall in the interest rates and the expectation of the continuation of the improvement in the business climate have begun to show up in increased foreign investments.

 

DEMUTUALIZATION
It is the process of converting the non-profit and mutually owned stock exchanges into for-profit and investor-owned corporations. The two on going phenomena is being driven by increased global competition and advances in the technology. Can Pakistan afford to be left behind?

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PIA
State-owned national flag carrier Pakistan International Airline expects to earn a profit of Rs 2.4 billion this year compared to a loss of Rs 2 billion last year. It also expects to better its financial performance earning profit of Rs 3.5 billion next year. The airline intends to induct number of used aircraft in the first quarter of 2003 and will receive three new Boeing 777-200s by first half of 2004.

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