ISSN (Print) - 0012-9976 | ISSN (Online) - 2349-8846

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Pakistan s Identity

duty and greater consumer resistance, then, maybe, the industry has a case for total control, consumer resistance notwithstanding! Nobody with any awareness of facts can deny that the industry is in bad shape and that this is reflected, among other things, in the decline of its profitability. If the figures in the ICMF advertisement were correct, the units which are making profits now must have enjoyed a super-boom in 1963 and only those units which were grossing a minimum of 16 per cent on sales then could break-even now; further, all units set up in 1963 or later should be in the red.

Manager in Perspective

Decanter 14, 1968 He told them that the British Government did not want to continue in India and that it would like to hand over power to the Indians, hut that this could be done only if they agreed to the division of India. They agreed, After they left the Viceregal lodge, Lord Mountbatten telephoned Jinnah to tell him that the Congress leaders had agreed to the division of India and that he too had better agree to it; which he did. Immediately afterwards Lord Mountbatten left for England. Mahatma Gandhi did not know of the agreement till the following morning. He very strongly objected to it and asked the Congress leaders to telegraph Lord Mountbatten that they would not accept independence on those terms. But they did not agree to this proposal.

Apologia for Jinnah

call market. The Glaxo issue, over-subscribed by about 15 times, is privately estimated to have involved such a transfer of about Rs 15 crores. The prevailing slackness in credit demand would appear to be a continuation of the delayed slack season credit contraction, which gathered strength only in the second half of October. Between April-end and mid- October, that is during the greater part of the slack season, bank credit actually expanded by Rs 8 crores; thereafter it contracted by Rs 38 crores by November 1. In a sense, we are witnessing an extension of the slack season. Because of price fluctuations at declining levels in oilseeds, foodgrain and sugar, trade's propensity to stock has declined sharply. This has perhaps led to repayment of funds tapped in September and October, the festival months, Perhaps also, overdue bank credit is now being repaid because trading conditions have improved, as they have, for instance, in cloth. Then, there are the large export receipts on private account which have led to a reduction in credit requirements.

Retreat from Trusteeship

Economics of Technical Education THE argument in all three of Angus Hone's articles on engineering manpower on the assumption that persons trained in engineering colleges should only bo employed in engineering occupations. This proposition is not a very useful one, for many reasons.

Economics of Technical Education

Economics of Technical Education THE argument in all three of Angus Hone's articles on engineering manpower on the assumption that persons trained in engineering colleges should only bo employed in engineering occupations. This proposition is not a very useful one, for many reasons.

Mostly Window-Dressing

November 2, 1968 arithmetic dished up by borrower interests. In sum, while the major problem facing the banking system is a shortage of deposits in relation to credit demand and growth of national income at current prices, the major problem facing the Reserve Bank is the selection of the areas whose credit demand should be satisfied first. Yet the Reserve Bank has been conspicuously silent on the question of boosting deposit resources. On the other hand, it is prepared to encourage indiscriminate expansion of credit with created money. This is the content, if you like, of the Reserve Banks latest credit 'policy'.

Spasms of Decontrol

Stability record, The company has no doubt had to content with inadequate power supply and lack of important raw materials and labour trouble, but these do not fully explain its poor financial performance.

Consultants on Par with Contractors

September 21, 1968 reported target of 12 million tonnes of ingot steel by 1973-74, the chairman, Kamalnayan Bajaj, suggests that additional production capacities, if found justified, be obtained through expansion of existing plants and installation of balancing equipment to provide for LETTERS TO EDITOR I HAVE read with interest your editorial entitled "Spasms of Decontrol" (August 10). I am afraid 1 do not agree with some of the statements contained in your article, nor with some of the apparent conclusions. For instance, the article seems to accept the mythical fact of complete decontrol from May 1967. In actual fact, there has been only decontrol of distribution, subject to certain priority requirements of Government. There has been no decontrol of prices, and the fact that price increases have been announced by the JPC does not alter the fact that such announcements are under a clear directive of the Ministry of Steel.

Spasms of Decontrol

September 21, 1968 reported target of 12 million tonnes of ingot steel by 1973-74, the chairman, Kamalnayan Bajaj, suggests that additional production capacities, if found justified, be obtained through expansion of existing plants and installation of balancing equipment to provide for LETTERS TO EDITOR I HAVE read with interest your editorial entitled "Spasms of Decontrol" (August 10). I am afraid 1 do not agree with some of the statements contained in your article, nor with some of the apparent conclusions. For instance, the article seems to accept the mythical fact of complete decontrol from May 1967. In actual fact, there has been only decontrol of distribution, subject to certain priority requirements of Government. There has been no decontrol of prices, and the fact that price increases have been announced by the JPC does not alter the fact that such announcements are under a clear directive of the Ministry of Steel.

Beaf Eating and Cow Slaughter

September 21, 1968 reported target of 12 million tonnes of ingot steel by 1973-74, the chairman, Kamalnayan Bajaj, suggests that additional production capacities, if found justified, be obtained through expansion of existing plants and installation of balancing equipment to provide for LETTERS TO EDITOR I HAVE read with interest your editorial entitled "Spasms of Decontrol" (August 10). I am afraid 1 do not agree with some of the statements contained in your article, nor with some of the apparent conclusions. For instance, the article seems to accept the mythical fact of complete decontrol from May 1967. In actual fact, there has been only decontrol of distribution, subject to certain priority requirements of Government. There has been no decontrol of prices, and the fact that price increases have been announced by the JPC does not alter the fact that such announcements are under a clear directive of the Ministry of Steel.

Goa Congress

September 14, 1968 thods of garnering rural savings have to be fully explored. Rural incomes fluctuate widely and it may be difficult to attract the small farmers to enter into fixed long-term contracts of the type involved in life insurance, The Corporation would do well to evolve special schemes permitting some flexibility in payment of premia in the rural areas, if it is to tap a really significant part of additional rural incomes.

Irrelevance of Parliament

September 7, 1968 lopment Corporation. It may be worthwhile studying the optimum size for state undertakings, regardless of the industry they serve, for the controlling parameter may be managerial rather than physical.

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