OIL CRISIS

Sep 06 - Sep 12, 2004  
ISSUE # 36  

The tidal wave of upsurge in international oil prices has started settled down. However, in view of the unpredictable oil situation especially in the backdrop of increasing oil demand in the United States, China and India besides volatile political conditions in Iraq and Afghanistan, it is the high time for concrete steps for consolidation of alternative energy resource available within the country. Shaukat Aziz, newly elected Prime Minister of Pakistan is taking keen interest in economic uplift of Thar through exploiting the mineral resources especially coal for power generation. Chinese companies have already been granted

license to develop coal-based power generating plants. It is hoped that Thar would become a major contributor towards alternative energy resources in Pakistan.

 

 

 

 

DUTIES REVISED
The Budget Anomalies Committee has revised the duties applicable on about 30 items and necessary SROs and notification has also been issued. It may be said that the government has been prompt in rectifying the duties. However, it may also be said that there was not proper consultation with all the stakeholders before announcement of the budget.

STOCK MARKET UPDATE
Ever since CVT has been imposed average daily trading volume at Karachi Stock Exchange has been hovering at very low level. Better than expected financial results and much talked about improved economic fundamentals failed to trigger buying spells. Some of the analysts believe that unless market goes through massive correction investors will continue to follow wait and see policy.

 

 

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