Sep 15 - 21, 2003  
ISSUE # 37  

Pakistan seems to have recovered from it difficult past and poised to build on the current gains. Investment is one of the most determinants of long-term economic growth. However, the quantum of fresh investment has remained low. Macroeconomic stability alone cannot convince investors to make long-term commitments. The overall consensus is that the GoP must come up with sector-specific policies and remove the existing irritants.



Pakistan produced over 650,000 tons of potatoes during the current season but could not export due to heavy freight charges. The growers had stored over 100,000 tons of potatoes in the hope to get freight subsidy, but the ministry of commerce denied. Last year Pakistan had exported some 125,000 tons of potatoes to Sri Lanka, Dubai, Jordan, Muscat, Singapore and Malaysia... Due heavy freight charges, the price of Pakistani potatoes comes to around $106 per ton in Colombo as compared to 95 dollars offered by Indian exporters.


The arrival of Sea Giant, a 1979-built supertanker, at Gadani last week has given the Pakistani ship-breaking industry the much needed shot-in-the-arm. The Sea Giant was the biggest ship in the world when it was built in France 24 years ago and was still the second biggest vessel at the time of its arrival at Gadani. It has a Dead Weight Tonnage of just over 555,000 tons and LDT of 74,000 tons. It is the biggest ship ever to be scrapped at Gadani and the sense of jubilation in the ship-breaking circles is all too pervading.