02072016Sun
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4.4 Provincial public finances: The fiscal position of provinces showed deterioration in overall balance. The provinces are expected to maintain surplus to provide sufficient cushion for consolidated fiscal outcome. However, the aggregate balance reduced considerably from a surplus of Rs 45.3 billion in Q1-FY15 to Rs 7.4 billion in Q1-FY16. This decline is largely attributed to increased provincial expenses by 17.9 percent as well as reduction in transfers from divisible pool (Table 4.5).
In a state whose motto is "Live Free or Die," New Hampshire's primary Tuesday is do or die for Republican presidential hopeful Jeb Bush. "I don't really follow the pundits because it's not good for my health," joked the former Florida governor in a question and answer session with voters in a school cafeteria Friday. "I know I've been written off," said Bush, who must beat his establishment rivals next week or consider giving up.
I have been associated with Ghee and Vanaspati Industry since 1965 when I joined one of the leading manufacturers of ghee/vanaspati in Karachi and subsequently became the Chairman of Pakistan Vanaspati Manufacturer Association (PVMA) and represented the Industry and the government in various Conferences and in edible oil deals.
The following are excerpts from SBP's quarterly report 2015-16 - The State of Economy:
Republican candidate Marco Rubio netted a strong third place in the Iowa caucuses. Can he capitalise on the momentum to emerge as the party's choice for president? Marco Rubio has a target on his back. The Republican senator from Florida finished only third in the Iowa caucuses, but his rivals in the crowded field of US presidential candidates now see him as their chief threat and have stepped up their attacks accordingly ahead of Tuesday's vote in New Hampshire.
"One must congratulate Dar for convincing the Fund team to release the next tranche within the stipulated schedule of talks."
On February 1, 2016, Pakistanis were expecting a reduction of at least Rs 15 per litre in petrol's price as Arab Light Crude Oil reached a new low in the last 13 years. A source in Ministry of petroleum said on January 30, 2016 that the price of petrol was "likely to go down by Rs 10.37 per liter, while high speed diesel would by Rs 15, high octane by Rs 9, kerosene oil by Rs 8, while price of light diesel would be slashed by Rs 11 per liter." To everybody's utter dismay, the government provided just Rs 5 relief for all petroleum products, which was totally unjust. In its summary, the Oil and Gas Regulatory Authority (Ogra) proposed a cut of Rs 7.56 per litre (9.9 percent) in price of petrol. Petrol is a fuel widely used in cars and motorcycles owned by middle class commuters. The price of high-speed diesel (HSD) oil, a fuel used by transportation businesses and farmers, was proposed to be reduced by Rs 11 per litre (13.6 percent).