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Much has been said about the long-term neglect of educational reform in the country; with low rates of participation at both Primary and Secondary levels continuing to cripple the cause.
The local currency and Indias legendary batsman Sachin Tendulkar are both in search of a century; but neither is likely to hit the mark soon. The Pakistani rupee has been prone to slippage in the foreign exchange market in recent sessions, trading over Rs99 against the US dollar in the open market on Monday. But chances are that the local currency will regain strength in coming days and is likely to hover in the range of Rs97-98 per dollar, in the inter-bank market.
Pakistans four-year old experience with the branchless banking has been exhilarating. Early entrants have gained significant scale in a promising market, while the regulator, SBP, has been in the lead, evolving the rules of the game as the market develops. Lauded for its nurturing role both at home and abroad, SBPs efforts for more participation from the private sector are proving fruitful now.
Though the circular debt crisis, gas and power shortfall, inefficient management of resources and the CNG dilemma of late speaks volumes about the mourning state of the energy sector, the countrys ranking in a new index launched by the World Economic Forum is a reality check for those at the helm.
Finance Secretary dominated the thin SBP Board of Directors’ decision by overruling the status quo recommendation of central bank’s internal monetary policy committee. No wonder government pushed for a rate cut as this makes its debt cheaper at the cost of depositors’ savings.
It is astonishing how rapidly the core Information and Communication Techno-logy have achieved near ubiquity in most parts of the globe in the last eight to 10 years. The International Telecomm-unication Union’s stats show that by the end of CY11, there were 5.9 billion mobile subscriptions across the world, one billion plus mobile broadband subscriptions, and 0.6 billion fixed broadband connections.
The conundrum of whether Greece will stay in the eurozone or whether it won’t has finally been resolved – at least to some extent. Euro 50 billion of long-delayed aid will be paid to Athens it was decided on Thursday, prompting an ecstatic response from the Greek premier, Antonis Samaras, “Grexit is dead”.

 



 
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Banking Review 2013


Annual2013/14
Foreign Debt $61.805bn
Per Cap Income $1,386
GDP Growth 4.14%
Average CPI 8.6%
MonthlySeptember
Trade Balance $-2.380 bln
Exports $2.181 bln
Imports $4.561 bln
WeeklyNovember 13, 2014
Reserves $13.268 bln