GDP growth is estimated to be at 4.2 percent against the target of 5.1 percent in FY15. The Finance Minister blames it on PTI dharna, prolonged cold weather, energy crisis, depressed commodity prices and slow private sector growth.
The business community has largely welcomed the central banks decision to cut policy rate by 100 basis points last week. The decision was in line with the broader market consensus too where - according to a BR Research poll - all those who were polled were expecting a rate cut and most were expecting a 100 bps cut.
In the last decade or so, climate-change has become a series issue globally and Pakistan is amongst those countries which are severely affected by the climate change. This is why Pakistans first ever Climate Public Expenditure and Institutional Review (CPEIR) report is an impressive attempt towards accurately calculating Pakistans climate change-related expenditures.
Pakistan has started its mango exports with a bang. The mango export season has begun on May 20, and the country has exported around 2200 tons of mangoes, fetching around $1.2 million dollars for the country. Mainly, this first batch of exports is heading towards United Arab Emirates, Saudi Arabia, Central Asian countries and other Gulf States.
There has been debate going on amongst economists on the currency rates ever since the rupee-dollar parity appreciated in March 2014 after sharp depreciation in the previous months. Some say it is Dar’s self-fulfilling prophecy of attaining Rs98/USD at the time when the rupee was falling freely and that is supported by 18 percent appreciation in Real Effective Exchange Rate since Dec 13. Thus the currency is overvalued and there is enough room for depreciation.
Yesterday, this column put the spotlight on Sialkot’s surgical instruments industry, highlighting its importance and the problems it faces. Today, we take a look at the other SME Sialkot is even more well-known for – the sports goods industry.
Grapes have been cultivated in Pakistan, since long before it even existed. As any grape connoisseur would know, grapes in Pakistan come from Balochistan and you only get your hands on them after the monsoon season is in full swing.