KESC

 Apr 11 - Apr 17, 2005 
ISSUE # 15 

Formal change of hands, from public to private sector, is expected in KESC soon. Over 20,000 employees of the KESC are apparently happy over the promise of the new management to allow trade union activity from the day the new management takes over the charge. They are also assured of getting a 20 percent rise to their salaries with a promise of complete job security. The consumer's interest of keeping tariff at an affordable level is the responsibility of the government. Although the privatization of KESC would allow a monopoly status to the buyer of the KESC, yet it is hoped that an improved infrastructure would offer quality service with uninterrupted supply power to the Karachiites.

 

 

OIL PRICES
The latest hikes in crude oil prices are causing worries in importing countries about the economic cost of higher energy prices. Higher fuel prices are causing higher inflation, restricting economic growth and affecting purchasing power of individuals adversely. Major oil exporters are divided into two groups, one led by Saudi Arabia and Kuwait supporting increase in output in an attempt to ease prices. Whereas the other group led by Venezuela is against conciliatory moves towards big consumers.

STOCK MARKET
One of the reasons identified for the recent crash of stock market was futures contract. While some immediate steps were taken to avoid free-fall, the efforts are still going on to avoid such mishaps in the future.

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