WATER CRISIS

Oct 18 - Oct 24, 2004  
ISSUE # 42  

Water has become the real force behind the economic growth in today's world. In all the developed economies even in the United States, large water reservoirs have played a pivotal role in the economic growth of these countries. There are over 2000 large dams in the United States contributing the economic benefits to the people of that country. It is amazing that whenever the developing countries like Pakistan take initiative for some projects like Kalabagh Dam for economic benefits of the people, forces not only within the country but in the West as well as the US become active against the construction

of large dams. The developing economies have no option but to go for large dams to come out of the trap of poverty and foreign debts

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BANKING SECTOR
A closer look at the recently released data by the central bank about deposits, advances and investments of commercial banks shows that the sector outlook is improving. While the rise in interest rates may be bad for all the sectors, banks remain an exception, because their earnings grow with the hike in interest rates.

GWADAR
Prime Minister Shaukat Aziz has directed the Gwadar Port Authority and the Director General Gwadar Development Authority to complete the first phase of the construction of the port and make it operational by January 2005. He directed the heads of the two agencies to work in close cooperation and ensure that the target given to them is achieved within the stipulated time.