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COVER STORY

GWADAR

July 07 - July 13, 2003  
ISSUE # 27  

The features of a deep sea port, being developed by Chinese experts have started to emerge on the blue sea shore of Gwadar which has generated a lot of interest especially among the people of business community. These people having business acumen have started visiting Gwadar to acquire land to set up their business in the future port city. The government has already prepared a master plan for over 500 hectares of land which has been earmarked for development of various social, economic and administrative sectors essentially required for a city which is becoming center of attraction for the investors.

 

 

 

TEA
The 'goodwill' visit of the Indian Tea Association and the signing of a memorandum of understanding with its Pakistani counterpart to export a minimum 10 million kilogram of tea, subject to 'quality and price', during the current fiscal, is aimed at giving India a deeper penetration of the local market. On the other hand, the local tea blenders expect to substitute the costly Kenyan tea with comparatively lower priced Indian produce to enhance their profitability. While businesses on both the sides expect to derive mutual benefits from the deal what remains to be seen is that would the arrangement benefit the consumers and discourage massive smuggling to help improve governmental revenue?  

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STATE OF THE ECONOMY
Pakistan's economy has performed well during the just concluded year. The country managed to achieve all the targets, including revenue collection, higher than the target. There are sufficient evidences to believe that the GDP growth rate will accelerate further. The higher trade deficit was only an outcome of hike in prices of crude oil and POL products.