Economy
Pakistan Economic Survey: Economy contracts 0.38pc during FY20
Karachi, June 11, 2020: The FY20(P) GDP growth is estimated at -0.38 percent vs. 1.91 percent last year. In a question to the Finance Minister, he answered that the disparity between the government and IFIs (IMF: -1.5 percent, WB: -2.6 percent) forecasts is due to fluidity of the situation at present. Agriculture sector recorded a…
COVID-19 and Economy, a time for self reflection
Karachi, June 10, 2020: The latest update is that the coronavirus is spreading quite rapidly in Pakistan. An important global trend has been easing lockdowns rather than the previous flattening-the-curve theme. Yes, the country cannot afford a complete lockdown, but without strict controls, it could prove to be a twin disaster as both healthcare and…
New budget may squeeze provinces, individual tax payers: Dr. Kaiser Bengali
Karachi, June 08, 2020: Eminent economist Dr. Kaiser Bengali has feared that the federation may further squeeze financial resources of the provinces by further reducing their share in divisible poor and it may further empty pockets of individual tax payers by imposing heavy taxes in the forthcoming budget to be announced on 12th June. “Federal…
EFP asks SBP to cut in Policy rate by 300 basis points
Karachi, May 01, 2020: Ismail Suttar, president Employers Federation of Pakistan(EFP) & chairman Economic Council has urged the Governor of State Bank of Pakistan, Mr. Reza Baqir to further reduce policy rate by 300 basis points. He maintained that the recent stimulus measures will not be sufficient and will exacerbate the prevailing recession. Businesses and…
SBP ask banks to stop dividend disbursement
Karachi, April 22, 2020: Amid the growing concerns of COVID – 19 pandemic, State Bank of Pakistan (SBP) has, thus far, announced a number of regulatory relief measures for the financial sector and real economy. These measures are primarily aimed at ensuring the safety and soundness of banking sector while enhancing their lending capacity to support the economic activities in…