Feb 24 - Mar 02, 2003   
ISSUE # 08  

Pakistan needs massive investment to achieve higher GDP growth rate and the economic fundamentals enjoyed by the country are encouraging. The objective cannot be achieved without creating enabling environment and removing the various irritants. The investors do not need sovereign guarantees but want continuity of supporting policies. Investors have the funds and products have the market but lack of confidence compels deferment of decision making.





Ken Livingstone mayor of London was quoted saying "this war is solely about oil; George Bush was never given a damn about human rights". There are worldwide concerns that Iraq war may adversely affect the economies not only in the developing world but also of the developed countries, otherwise no such level of restlessness was ever shown on the human killing in India, Afghanistan and Palestine.


The latest increase in the prices of petroleum prices is seen by many as a prelude for greater increases in the weeks to come. The consumers in Pakistan are bracing themselves for increase prices as the clouds of war hang thick over Iraq and, in part, also as they realize that they have no representation on Oil Companies Advisory Committee, a representatives body of oil marketing companies and the sole decision maker of the fortnightly price review practice.