Sep 12 - Sep 18, 2005 
ISSUE # 37 

The harsh reality is that despite improvement in economic indicators the purchasing power of people is on the decline. The number of people living below poverty line is increasing with the passage of time. More and more people have begun to ask economic managers the reasons for having no trickle down effect of economic prosperity. The economic managers at times get a little bitter while responding to this question. However, it is a fact people wish to understand the reasons and the hike in the level of desperation is natural.


About 25,000 cars are likely to be imported in 2005-06 in the backdrop of liberal incentives given to the expatriates and further reduction of customs duty in the new budget, which would certainly cause a big dent in the black-marketing of locally manufactured brand new cars. Chairman Central Board of Revenue Muhammad Abdullah Yusaf disclosed this recently at a Forum at Lahore. "In 2004-05 about 7,000 cars were imported, but we estimate that in this fiscal up to 25,000 cars would be arriving in Pakistan as we have further liberalised and relaxed the scheme for overseas Pakistanis, giving maximum incentives to the expatriates and have also further trimmed duty," said the Chairman CBR.