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The
payout ratio of modarabas is reasonably higher than any other sector
listed at the Karachi Stock Exchange but most of the certificates are
still traded below their par value. Despite a long standing they have
not taken their toll. Regulatory environment has not been conducive
for the operations and growth of the sector. Most of modarabas are
involved in leasing which does not provide any market niche or
comparative advantage. It is an appropriate time to highlight the
potential and problems faced by modarabas to enable them to play a
role in revival of Pakistan economy. |
TRADE
DEFICIT
Pakistan's
trade deficit has been improved by 49 per cent in the first half of
the current financial year. The improvement in trade gap was however
the result of reduction in imports that may have an adverse effect on
overall growth of the economy in the remaining half of the year. The
reduction in oil imports estimated at around one billion dollar is the
major contributor in reduction of trade gap.
AUTO
THEFTS
Car
and motor-cycle snatchings and thefts are costing the people of
Karachi billion of rupees of losses every year. Despite the heavy
presence of police and paramilitary Rangers at every nook and corner
of the city 24,013 cars and 29,715 motorcycles were snatched or stolen
in the city during January 1997 and January this year. Only half of
the cars and quarter of the motorcycles were recovered while the rest
still remain untraced. PAGE looks at the financial costs of the
menace.
