June 02 - 08, 2003  
ISSUE # 22  

The ice has started to melt. And what a melting it is there seems to be an unmatched eagerness to talk, discuss and negotiate the issues backed by warm-up measures such as re-opening of road and air links and re-establishment of diplomatic contacts severed 17 months ago. The names of the High Commissioners have already been formally announced and the respective governments already approve them. Of course, we are talking about the sudden, and welcomed, signs of cordial relations between two arch nuclear rivals in Asia who collectively represent almost 20 per cent of the humanity.



All the Independent Power Producers (IPPs) were generating electricity with the permission of the provincial governments under Electricity Act 1910 so far. The National Electric Power Regulatory Authority (NEPRA) has asked the IPPs to get a generation licence from NEPRA under the policy of 1997. NEPRA has circulated a draft generation licence among the power producing companies and currently hearing their point of views before giving a final touch to the draft for issuing the generation licence.


The strong economic indicators hint sustainable upward movement of KSE-100 index. The improvement in corporate earnings is expected to keep dividend yield attractive. However, analysts suggest that along with dividend yield, investors should also look at cash flow statement, real potential of any company to pay dividend.