Nothing to declare: the political void in Afghanistan has spawned a vast smugglers' market that is crippling Pakistan's economy and threatens those of other nations in the region

Article Abstract:

Illegal cross-border trade in Afghanistan has become a de facto pillar of the economy but threatens its neighbors' own economies while funding warfare and facilitating the drug trade. Some estimates place the trade's value at 100 billion rupees (about $3.5 billion) annually, a third of the country's black market. The Taliban movement that has seized much of Afghanistan's territory draws most of its funding from traders grateful for open roads. Pakistan suffers from food shortages as its crops are shipped to higher-priced markets.

Afghanistan, Smuggling

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A sale gone sour; Pakistan finds no takers for state-owned bank

Article Abstract:

The collapse of the second effort to privatize 26% of Pakistan's United Bank Ltd raises serious concerns about both the bank's prospects and those of the overall privatization effort. Of the 26 planned privatizations in 1996, that of Pakistan Telecommunication Corp may be most crucial. After 10% was sold in 1994, share prices plummeted, adding to the concerns raised by the country's political problems. Many of the other companies to be sold are also unattractive to buyers. Even the use of sale proceeds remains in doubt.

Banking Institutions, Depository Credit Intermediation, DEPOSITORY INSTITUTIONS, Analysis, Management, Mergers, acquisitions and divestments, Financial services industry, Financial services, Banks (Finance), Privatization, Privatization (Business), United Bank Ltd.

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The clean-up begins: Pakistan's new economic tsar promises reform

Article Abstract:

A top civil servant in Pakistan's Finance Ministry has recently announced that the country's budget deficit for 1995-96 was 6.3% of GDP, higher than had previously been revealed by ousted Prime Minister Benazir Bhutto. The caretaker government has chosen Shahid Javed Burki, a World Bank vice-president, to clean up the economy. He will advise interim Prime Minister Meraj Khalid, and far reaching reform programmes have already been announced.

Statistics, Economic development

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