Nov 01 - Nov 07, 2004  
ISSUE # 44  

KESC is scheduled to be privatized on December 6, 2004. Three foreign investors including Kanoos group of Saudi Arabia, Independent Power Consortium of UK and Hasan Associates of Malaysia are hotly contesting to be the winner in the bidding. Experts are of the view that Kanoos Group has an edge over other contestants because of strong financial base besides its offer to bring investment in other areas of the economy at a massive scale. It is hoped that the privatization of the KESC may also bring a revolutionary change in the infrastructure development of Karachi.




The first generation of reforms in the financial sector of Pakistan is about to be completed successfully and we have to lay down the proposals for eliciting wide discussion on the second generation of reforms. The reforms should be implemented in the next five years, although they have to be reviewed continuously to adapt them according to the changing circumstances both domestically and internationally.

Now that the ongoing series of confidence building measures has made a mark improvement in Indo-Pak relations, one can certainly look forward that the dream of gas pipeline from Iran to India through Pakistan can become a reality in the near future. This perception was confirmed by no less a person than the Prime Minister himself.