THE ENERGY SECTOR-2005

Aug 08 - Aug 14, 2005 
ISSUE # 32 

Economists warn about the consequences for the global economy of oil prices rising. The price is over $60 and gloomy industry analysts are speculating on it hitting $100. The driving forces behind current rising prices, however, are not those that prompted the increase of 1999-2000.
The main factor pushing prices up today is soaring demand, not producer constraints on oil output. Without a determined global conservation effort, the threats of an economic crash and growing friction - both between consumer states and between consumers and producers - are bound to be fundamental elements of international relations over the coming years.

 

 

SECP REPORT
The Securities and Exchange Commission of Pakistan (SECP) has released the much-awaited report of Task Force on the March Crisis. This Task Force was constituted by the SECP in April and the time given was one month. First there was a delay in finalizing the report and then the Commission sat on the report for nearly one month. It was made public only when Standing Committee of National Assembly conducted a public hearing. The general impression is that the report would have not been public had the Committee not suggested to undertake fresh investigation. The SECP was also prompt in issuing notices to some brokers for indulging in activities, which it did not consider permissible under the rules and regulations.