Nov 08 - Nov 14, 2004  
ISSUE # 45  

The size of mutual fund sector is growing at the back of vibrant stock market in the country. There has been a gradual shift from flotation of closed-end funds to open-end funds. However, the size of this important sector is too negligible when compared with the size of sector in the US and even India. One of the reasons for lackluster interest of investors in mutual funds has been the poor dividend payout of nineties. The perception has not improved much because investors are still not fully aware of the remarkable performance exhibited by most of the funds in the recent past.



The World Bank has recommended to the government for an upward revision of the power tariffs to offset the financial impact of oil imports. So far the government has absorbed the additional cost of oil imports which is roughly estimated at Rs24 billion. The government has, however, not allowed increase in the oil prices just to avoid price inflation which is already becoming wild. Instead of increasing the power tariffs, some other solution is necessary to enable the economy to face the challenges of the free trade under WTO regime.



ddressing a press conference in Islamabad last week, Minister for Labour, Manpower and Overseas Pakistanis, Ghulam Sarwar Khan told newsmen that his ministry has set an ambitious target of exporting two hundred thousand professionals, skilled and semi-skilled manpower annually to other countries to earn maximum jobs in the international market and earn maximum foreign exchange for the country.