02092016Tue
Last update: Tue, 09 Feb 2016 06pm

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Real estate has an important role in economies worldwide; in a recently initiated study by Savills – an international real estate adviser, the value of global property in 2015 amounted to 2.7 times the world’s GDP, and residential property accounted for 75 percent of the total value of global property.
To ask for transparency of a privatization transaction is one thing; to demand for deferment or cancellation of privatization programme altogether is another. The political parties rallying behind the PIA protestors, however, have been making confusing statements.
Having faced a near halt in urea off-take in the third quarter of CY15, the fertilizer industry made a resounding comeback in the final quarter and Engro Fertilizers Limited was at the forefront once again. That, the company made more after-tax profits in the final quarter alone than the entire nine months preceding 4QCY15, is testament to how things changed.
If Africa is at the heart of prospective economic growth of the future, then Lagos is its pulse. Nigeria is the largest country of Africa in terms of land and population. On the back of a stellar 7.4 percent cumulative annual growth rate over the past decade, it is now also the largest economy of the continent. This economy has missed economic opportunities a number of times in the past and various forms of turmoil and disturbances have kept it from capitalizing on the oil boom for decades.
Start of this year brought considerable downside as the market dropped below 30,000-mark (momentarily) for the first time since March 2015. In January, the market eased over 1,500 points (or 4.6 percent) making it the worst start in seven years. Volatility in oil prices and continued concerns over Chinese economic health caused foreign selling to continue at PSX (previously KSE).
Last year in December, the tension and anxiety were quite high at the trade ministry as the two-year review of the General Scheme of Preference Plus was approaching. The recently released European Commission’s first assessment report on the impact of GSP Plus scheme should have provided a much-needed relief to the ministry and exporters alike.
What do you think will happen when a patient expects a dentist to give a medical advice for his kidney stones; or if a medical doctor looks at a shin bone X-ray to treat someone's hepatitis? The answer to that is pretty obvious. However, both the public at large, as well as the businessmen and policy analysis community doesn?t seem to appreciate that the same holds truth in political economy.