Apr 25 - May 08, 2005 
ISSUE # 17 & 18 

An overall view of the national economy portrays a rosy picture. Exports are well poised to pass over the target; growing imports an indication of vibrant economy, revenue collection seems to yield beyond the target, cash flows from external resources are also improved. The agriculture has lent a strong hand by producing record 15 million cotton bales and 22 million tonnes of wheat. The large scale manufacturing sector coupled with strong corporate results are enough to raise hopes that the economy has some good news in the store to be announced on the occasion of the forthcoming budget.





National Investment Trust (NIT) is Pakistan's oldest and the largest mutual fund. Lately it has declared 9-month financial results. The success of the fund can be gauged from Fund's Net Asset Value (NAV), which grew by 47.3 per cent during the period to Rs44.96 as on March 31, 2005, from Rs30.53 on June 30, 2004 (ex-dividend).

The crisis in the stock exchange, which began as a correction, came near to a default has been prolonged by the administrative crisis between the nexus of Karachi Stock Exchange management, the Board and the Securities and Exchange Commission of Pakistan (SECP). The regulator has been trying to use its influence and authority to implement the phase out of Badla (COT), which is currently the main source of credit to the market.