Category: Uncategorized

The UN’s Covax Facility, which looks at covering priority groups in the COVID pandemic has said that Pakistan will receive 17.2 million doses of the Oxford-AstraZeneca vaccine in the first half of 2021, including six to seven million doses by March 2021. This 17 million figure is 20% of the population. Pakistan started the vaccination…

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Foreign currency inflows into Pakistan through the Roshan Digital Account (RDAs) reached $436 million. Overseas Pakistanis have been provided facilities in 97 countries, uptil now, to open RDA accounts.

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Fitch has said that it is revising upwards, Pakistan’s real GDP growth rate as there has been strong external demand.   Fitch has forecasted Pakistan’s growth to be 1.1% in FY21, which had been earlier forecasted at 0.8%.

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It was stated that the UK will apply to join the massive 11 nation free trade bloc of Asia-Pacific countries. This comes shortly after the UK left the European single market, through BREXIT.   UK’s International Trade Secretary Liz Truss will formally apply for the UK’s request to join the Comprehensive and Progressive Agreement for…

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Pakistan’s consolidated stock of borrowing for budget support touched Rs.  14.03 trillion (last: Rs 13.75 trillion), in January 2021.   According to the State Bank of Pakistan (SBP), this budgetary borrowing from the domestic banking system increased by Rs. 291 billion during 1st July 2020 to 15th Jan 2021. Last year there was retirement of…

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Sales tax refunds in Pakistan for the first six months of FY21 stood at Rs. 99 billion payment (last: Rs. 31 billion). These re-payments were made through the FASTER system.   Sales tax refunds of Rs. 11 billion were made through the FASTER system in the period July-December FY20, along with Rs. 20 billion through…

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The International Monetary Fund raised its forecast for global economic growth in 2021 saying that the dip will be a almost a full percentage point less severe than expected.   In its latest World Economic Outlook, the IMF forecast a 2020 global contraction of 3.5%, an improvement of 0.9 percentage points from the 4.4% slump…

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Pakistan has registered Basmati Rice as a Geographical Indicator (GI) under Geographical Indications Act 2020.   the the Rice Exporters Association of Pakistan (REAP) said that this long overdue registration of Basmati as GI in Pakistan will strengthen the case against India in the European Union.   The geographical indications registry certificate was issued by…

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Chinese President Xi Jinping spoke at an all-virtual Davos forum, and  warned global leaders against starting a “new Cold War”. He urged global unity in the face of the coronavirus pandemic.   He said, “To build small cliques or start a new Cold War, to reject, threaten or intimidate others… will only push the world…

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The State Bank of Pakistan (SBP) maintained the policy rate at 7%, as ‘there are upside risks to current growth projection although inflation expectations remain well-anchored’.   The SBP said, “Since the last meeting in November the domestic recovery has gained some further traction… there are upside risks to the current growth projection of slightly…

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Pakistan’s information and communication technology exports increased 40% to $958 million during the first half of the current fiscal year of 2021 (1HFY21) (last: $684 million). Services’ exports remained relatively flat for the period.   The Adviser to the Prime Minister on Commerce and Investment Razak Dawood said the information and communication technology exports will…

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Pakistan’s trade deficit in services improved by 42% to $977 million in the 1st half of fiscal year 2021 i.e. July-December (last: $1.7 billion deficit).  

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