The ongoing currency volatility is the highlight of the new governments economic management. Indeed, it is a job well done by Mr. Accountant, as the currency has appreciated consistently ever since he claimed that he would pull it back below the 100 mark. The rupee closed below 102 against the greenback yesterday.
Everyone knows that the insurance penetration in Pakistan is quite low. A thorough assessment of the situation, together with imparting imperative yet hands-on suggestions, would help. But so far, only a few detailed solutions have come to light.
After a vigorous start in FY14, the heftiness in petroleum sales seems to be easing down. Furnace oil and motor gasoline sales, which together constitute almost three-fourth of the total petroleum sales, have slowed down amid declining diesel volumes. The first eight months of FY14 depict this trend.
At the end of first eight months of the tenure of the PML-N government, a campaign has been launched to demonstrate that the economy has already turned the corner and is well on the path to recovery. Various performance indicators have been used to justify this conclusion. But, it is important to realize that either some of these indicators have been wrongly measured or are subject to different interpretations.
The recently-released trade numbers by Pakistan Bureau of Statistics show that the import bill is contained for now. Total imports for the seven months ending January 2014 were merely 0.48 percent higher over the comparable period of last year.
There is a reason why the Securities and Exchange Commission of Pakistan (SECP) issues a press release about corporatisation levels achieved each month. But, there is also a reason why those press releases often get so little press; or sometimes no press at all.