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Restructuring Plans for FBR, PSM, Pakistan Railways
The Advisor to the Prime Minister on Institutional Reforms and Austerity, Dr Ishrat Hussain, unveiled the GOPās plan to restructure Pakistan Railways, the Federal Board of Revenue (FBR), and the Pakistan Steel Mills. Part of the restructuring plan is the transparent appointment and promotion policies of heads of various state institutions. In the briefing…
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Pakistan PM Visits Afghanistan
Pakistan’s Prime Minister visited Afghanistan and expressed his hope that trade and connectivity between Pakistan and Afghanistan would increase in the coming days. He termed a visible reduction in level of violence as an imperative for enhanced trade activities between the two countries. Pakistan’s PM stated this during his maiden visit to Kabul in his…
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Pakistan’s 1 Quarter Exports Slightly Up
Pakistan’s exports for the first quarter of FY21 (July-October 2020) increased 0.6% to touch $7.6 billion (last: $7.5 billion). Imports decreased 0.4% to touch $15.2 billion (last: $15.3 billion). Pakistanās balance of trade improved by 1.4% from $7.7 billion in July-October 2019 to $7.6 billion in July-October 2020.
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Japan Exits Recession
JapanĀ“s economy exited the long recession, in the third quarter. The Economy grew at 5% which was above market expectations. This comes after three quarters of contraction in the worldĀ“s third-largest economy – the economy shrank 8.2% in Q2 against an estimate of 7.9%. A rise in domestic demand as well as exports helped drive…
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FDI for 1st QFY21 Up
Foreign direct investment into Pakistan for the 1st Quarter FY21 (July – September) was up 9.1% to $733.1 million (last: $672 million). The power sector remained prominent as it attracted funds. Chinese firms in the energy and infrastructure projects under the first phase of the China-Pakistan Economic Corridor (CPEC) framework remained prominent with FDI…
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Public Gatherings & Rallies Banned in Pakistan Due to COVID
Pakistan’s Prime Minister said that a ban has been placed on public gatherings and rallies due to COVID. In a televised message, he urged the nation to strictly follow the standard operating procedures (SOPs) and wear facemasks in public, as the number of COVID cases in Pakistan had quadrupled in the last 14 days.…
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Pakistan Launches Foreign Currency Investment Certificates
Pakistan launched foreign currency Investment Certificates for overseas Pakistani’s. They can now invest in Pakistan in foreign currency. They are called Naya Pakistan Certificates. They have been linked to the Roshan Digital Accounts, which are bank accounts that overseas Pakistani’s can open while sitting abroad. Remittance and investment has thus been made easier. Respective…
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Pakistan’s External Liabilities Up
Pakistan’s external debt and liabilities rose to touch a historical level of $113.8 billion at the end of September 2020 (30 June 2020: $112.9 billion), due to fresh borrowing from multilateral and bilateral sources. Pakistanās foreign debt and liabilities grew by $945 million during the first quarter (July-Sep) of this fiscal year (FY21).
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Biden Starts Transition
US President-elect Joe Biden took the first steps towards taking over the White House in 73 days. At the same time, Donald Trump showed no signs of admitting defeat and continued to sow doubt about the election results.
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Democrat Joe Biden Wins US Election
Democrat Joe Biden crossed the 270 electoral vote limit and won the US presidency. The vote was almost even with voters marginally tilting towards the Democrat. Biden promised to fight the COVID pandemic, fix the economy and heal a divided nation.
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Pakistanās Fiscal Deficit For 1QFY21 Up 1%
Pakistanās fiscal deficit for the 1QFY21 (i.e. July to September) was up 1.1% of GDP at Rs. 484 billion (last: 0.7% of GDP, Rs286 billion).
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Pakistan Tax Filers Rises
Pakistan’s Federal Board of Revenue (FBR) received 380,000 returns additional for the tax year 2019 with the total number touching 3 million filers.Ā This was despite the pronounced economic slowdown due to COVID.
