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The Federal Budget presented by Finance Minister Ishaq Dar is a week old now, and has evoked mixed reactions, mostly critical and highly suspicious of government's ability to meet the ambitious targets set therein. The objectives the budget has set are, building confidence, increased self-reliance, turning private sector into engine of growth, friendlier market regulation, less government role in business activities, betterment of the poor, and development of human resources.

Are you happy (at least for now) or sorry with the change wrought in the government by the general elections? Let me put the question another way? Would you want the changes ushered in by the general elections somehow undone so that we end up again with the ruling set-up as it existed before? "No! Almost anything else would be better!" would probably be the anguished response of an overwhelming majority of the people of Pakistan! No surprise there! I could not agree more!
Afghanistan's security forces are braced for an uphill struggle as they take over lead responsibility for operations in the last remaining areas of the country, ahead of the withdrawal of international troops next year. The last stages of the handover, expected this week, are a milestone for the national forces, little more than a decade old but already facing dozens of engagements with the Taliban and other armed groups every day.
"I saw the former Interior Minister on television again with a green handkerchief jutting out of his coat pocket and a green tie..."
Wheat: Wheat's wholesale trading this week is still under pressure as less than sufficient supply is said to be available in the open market. There are some indications that wholesale prices may go higher if more supplies are not made available by the provincial food departments as the wholesale and retail prices of flour have also been increasing accordingly in areas where supplies are short.
I was not disappointed by the budget 2013-14 - not because it contained any out-of-th-box thinking or indeed any reform measures that would have changed the economy's direction in the next year, particularly with respect to the tax structure that will continue to be inequitable, unfair, and anomalous - but because I never expected any better from budget 2013-14.
Iranian voters weary of years of economic isolation and tightening political restrictions threw down a blunt demand for change on Saturday by handing a moderate cleric a landslide victory in a presidential election. Having waited throughout Friday night and most of Saturday, millions of Iranians at home and abroad greeted Hassan Rohani's victory with a mix of euphoria and relief that eight years under hardline president Mahmoud Ahmadinejad were finally over.

 



 
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Banking Review 2012

Annual2011/12
Foreign Debt $65.562bn
Per Cap Income $1,372
GDP Growth 3.7%
Average CPI 10.08%
MonthlyMay
Trade Balance $-2.171 bln
Exports $2.175 bln
Imports $4.346 bln
WeeklyJune 17, 2013
Reserves $11.446 bln