Sep 08 - 14, 2003  
ISSUE # 36  

The transportation is the backbone of the economy of any country. An efficient transportation network is imperative for economic growth, development, farm-to-market access, improved social service, and every other aspects of human interaction be it social, economic, cultural or otherwise.



Drug prices are likely to go down across the board especially in the poorer as well as developing countries and for this the WTO has already made amendments in the rules. The government has also decided to convince the pharmaceutical companies to cut down prices of life saving drugs from 10-50 per cent. A reasonable number of pharmaceutical companies have already nodded positively. The reduction in drug prices in fact is the outcome of the WTO, which will be effective from 1st January 2005.


Pakistan Industrial Credit and Investment Corporation (PICIC) embarked upon a business diversification plan aimed at providing the various financial services under one banner. It acquired major stake in a commercial bank and management rights for some of the mutual funds floated by the ICP and commenced leasing business. It is one of the bidders for NIT and also intends to float a modaraba.