Aug 23 - Aug 29, 2004  
ISSUE # 34  

The 57th Independence Day is being celebrated at an occasion when the nation is preparing to welcome Finance Minister Shaukat Aziz in his new assignment as the Prime Minister of the country.
People are pinning high hopes in Shaukat Aziz, the master mind of the current economic policies, that he would give them the economic freedom which is a dream even after 56 years of independence of this country. Contrary to the previous experiences when a Prime Minister from a certain political party served the party interests more than addressing the problems confronted to the people in general.
Pakistan came into being in 1947 

as a result of a long struggle spanning over a century started from 1857, and unparallel sacrifices offered by the Muslims of the sub-continent to achieve the cherished goal of a separate homeland.



The rupee has been under pressure for a number of reasons but the central bank has successfully delayed any rapid adjustment in its value. However, it seems that the central bank is following crawling depreciation of rupee to facilitate investment and contain cost pushed inflation.



The CPI and WPI have moved in opposite directors lately. Some of the analysts are of the view a fall of WPI means that CPI would also follow the suit although with a time lag. The lag is mainly due to the delay in passing on the price increase in wholesale prices to retail prices.