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On Monday this column highlighted the powers taken by the government to sack the chief executive of a PSE under the recently promulgated Companies Ordinance 2016. Today it will comment upon another clause inserted in the new ordinance which deals with the appointment of a CEO.
Hitting the nail on the head, this years Annual Report by Mehbub ul Haq Human Development Centre has come back after 15 years, with not such a rosy progress of women in Pakistan. Mehbub ul Haqs revolutionary philosophy of human development has had three essential components: equality of opportunities, sustainability of these opportunities, and empowerment of people.
From online shopping of luxury brands to groceries and electronics just a click away to on-the-go cars; the sudden rise of tech-based services and their acceptance by the large publics is no longer a foreign phenomenon for the developing world. Car rides specifically are gaining massive popularity across Pakistan, especially in the major cities so much so that the demand is in excess of the existing cars available with Uber and UAE-based Careem; the prominent two car-sharing apps.
With the onset of the winter season, power generation takes a breather, which is seen in the decline of fuel consumption. With most of the capacity based on thermal generation in the country, one sign of a decline in power generation is the decline in furnace oil consumption. The latest numbers by Oil Company Advisory Council is show that furnace oil volumes sold by the oil marketing companies have come down sharply in November 2016.
News of Opecs death was greatly exaggerated. The historic decision reached in Vienna last week has sent oil prices soaring. The oil prices have registered the highest yearly increase in six years, following the deal. Brent was last seen trading at a 17-month high. Recall that Opec members agreed to cut production by a huge 1.2 million barrels per day.
It has been one of the trademarks of the PML-N government to keep power closely cantered in the hands of a few. Be it the CPEC or details of LNG agreements, the public at large is left to speculate and wonder. The trend has continued in the passage of the Companies Ordinance 2016 which has been marred by the addition of a draconian measure which effectively allows the government and the PM to sack the CEO of any PSE.
Last week, this column wrote about APTMAs demand for raising the RD on Indian yarn imports and the failing DTRE scheme (Read "Textile: Colliding interests," published November 28, 2016). Todays piece will look into the existing 10 percent RD imposed in November of last year.