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‘$10trn Could Have Been Saved If US Handled COVID like Pakistan’
Larry Summers, former chief economist of the World Bank and former chief of economic advisory council of president Obama has acknowledged that if the United States had handled COVID like Pakistan, it could have saved $10 trillion. Pakistan’s successful handling of the COVID pandemic is getting international recognition and even the World Health Organization…
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Opposition Launches Anti Government Campaign
Supporters of opposition parties in Pakistan converged on a stadium in the city of Gujwanwala, Punjab to launch a countrywide protest campaign against Prime Minister Imran Khan. Eleven major opposition parties formed a joint platform called the Pakistan Democratic Movement (PDM) in September to begin nationwide agitation against the GOP.
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Pakistan FDI Down In 1st Quarter FY21
Foreign Direct Investment (FDI) coming into Pakistan declined by 24% to $416 million (last: $546 million) during the first quarter of this fiscal year (FY21).
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September Car Sales Up
The sales of passenger cars in Pakistan have gone up by 18% to 13,882 units YoY in September 2020. Indus Motor Company (IMC) and Honda Car (HCAR) registered sales increase of 106% YoY and 87% YoY, respectively. Pak Suzuki Motor Company (PSMC) sales declined by 20% YoY due to drop in Alto’s sales by…
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Pakistan Market P/E As of 31st September 2020
Pakistan’s market P/E as of 31st September 2020 was 13.9. TANGENT conducts independent research that calculates market values, sector values, market and sector Price Earnings ratios and more. For more details visit RESEARCH and write at CONTACT
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IMF Warns of Lasting Damage
The IMF said, “The global economic crisis will not be quite as grim as feared this year, but GDP will still contract 4.4% and the ongoing pandemic means the outlook remains uncertain. The recession was less severe but still deep and “the ascent out of this calamity is likely to be long, uneven, and highly…
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Moody’s Says Pakistan Will Face Hurdles
Moody’s said that Pakistan, who is already struggling to increase its tax intake before the pandemic, will face additional hurdles. Moody’s in its latest report, ‘Emerging Markets Recovering revenue post COVID crisis will be crucial but challenging,’ stated that subdued global recovery would shift focus to broadening tax bases, which would be challenging.
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Poor Countries Debt at $744 Billion in 2019
The World Bank said that the debt of the world’s poorest countries touched a record of $744 billion in 2019, before the COVID pandemic, however debt relief is lagging, with China at the forefront. Debt for the 73 poorest nations grew 9.5% per year. The World Bank said that this shows “an urgent need for…
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Pakistan Remittances Ahead of Target
Pakistan’s remittances increased 31% over last year and touched $2.3 billion in September crossing the $2 billion target. Uneasiness in other countries, proper channels for inflows being promoted and GOP encouragement helped.
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Pakistan’s Economic Diplomacy Kicks Off
Pakistan’s Foreign Minister Shah Mahmood Qureshi said that to promote the economic and trade relations at the international level as envisioned by the Prime Minister, “we have practically kicked off ‘economic diplomacy’.” The FM was given detailed briefings by 13 ambassadors stationed at 13 foreign countries through video link about the steps taken by them…
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US Troops To Be Home By Christmas: US President
The US President said that US troops in Afghanistan should be “home by Christmas,”. He said this just hours after his national security adviser said Washington would reduce its forces in Afghanistan to 2,500 by early next year. A landmark deal between the United States and the Taliban in February said foreign forces would…
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WTO Sees Muted Rebound
The World Trade Organization (WTO) upgraded its forecast for trade in goods this year due to improvements from June, but saw a more muted rebound in 2021 with further lockdowns from a second wave of COVID infections posing clear risks. The WTO said that global merchandise trade would fall by 9.2% this year and then…
