Tag: deficit
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Positive change: Pakistan’s current account deficit shrinks to only $8 million
In September, Pakistan’s current account revealed a modest deficit of $8 million, as reported by the State Bank of Pakistan (SBP).
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Pakistan’s current account surplus soars to $334 million in June
The State Bank of Pakistan (SBP) has reported that Pakistan’s current account has achieved a surplus for the fourth consecutive month, reaching $334 million in June 2023.
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Pakistan moves forward with budget planning despite delayed IMF programme
The government is expected to present an overall budget deficit of 5.1 per cent of the GDP for the fiscal year 2023-24, as stated in the delayed Budget Strategy Paper (BSP) to be presented before the federal cabinet. A recent report by The News highlighted that the paper will be tabled amid the government’s failure…
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Pakistan Railways paying Rs35 billion pension to unverified employees annually
About 115,000 Pakistan Railways (PR) retired employees who have not been verified have been receiving annual pensions totaling Rs35 billion, according to research by the government-funded Pakistan Institute of Development Economics (PIDE), a think tank housed within the Planning Commission. It revealed in a statement yesterday that between 2015 and 2020, Pakistan Railways lost Rs144…
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The recent ban on imports might barely make a dent
On Thursday, May 19th, 2022, the federal cabinet issued a list of 41 items which will be banned from being imported for two months. This is in an attempt to address the current account deficit. The list of products is banned from being imported into the country, which means that essentially any shops or restaurants…
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Pakistan faces Rs615 billion annual deficit due to tobacco consumption
Pakistan has a substantial Rs615 billion annual deficit owing to diseases caused by smoking and overall tobacco usage, with only Rs120 billion earning in tax revenue from the product. The government is expected to improve revenue by raising the tax on cigarettes by 30 per cent according to The Nation. This was voiced by speakers…
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Pakistani rupee crashes to historic low of Rs194 against US dollar
During the trading session on Monday, the Pakistani rupee (PKR) maintained its declining trend, touching Rs194, its worst rate versus the US dollar. At the interbank, the greenback strengthened by Rs1.47 during the trading hours. The General Secretary of the Exchange Companies Association of Pakistan, Zafar Paracha said that the greenback climbed by Rs11.07 since the…
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The inconvenient truth about Pakistan’s economy
Battle of narratives confuses ordinary citizens who are less interested in politics and are more keen to know where the economy is actually heading, what they should expect in terms of growth and whether Pakistan can offer them a prosperous future. Economy is the hottest subject these days. Political zealots from opposing sides pick and…