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COVER STORY

PRE-BUDGET PREPARATION

Apr 14 - 20, 2003  
ISSUE # 15  

Fundamentals have kindled the hopes of the people for a friendly federal budget for fiscal 2003-04. Despite tough times the global economy had to go through due to war destruction in Iraq, which is being described as yet another world shaking event after September 9/11, the prospects for economic growth are brighter in the context of Pakistan.

 

 

 

 

 

 

UBL'S PERFORMANCE
The bank was privatized in October last year. The results mainly pertains to the period the bank was in public sector. The good performance and commitment of new management hints towards further consolidation of financial strength. The bank aims at creating a niche market and has undertaken various initiatives.

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THE FALL OF IRAQ
The US-led forces finally 'liberated' Iraq around sunset on April 9 Pakistan time. Their entry into Baghdad came three weeks of unexpected fierce resistance by the Iraqi army, paramilitary forces and people. The prized destruction of Saddam Hussain's giant statues was broadcast live across the world amidst the plunder and loot in a city which braved thousands of missiles and some of the most horrific bombs in the 21-day war.