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The Finance Ministry just managed to restrict the growth of the consolidated fiscal deficit but it could not contain it to the permissible limits. The deficit declined by three percent YoY in 1QFY16 to Rs328 billion which is off by 11 percent from the IMFs target of Rs294 billion - almost equal to the provincial deficit (Rs29 billion). The target was too unrealistic and the provinces did not post surpluses; so it was missed.
Things aren't looking too good for Pakistans tractor industry. For the four months ended FY16, tractor unit sales have nosedived by 33 percent year-on-year, while production is 38 percent lower. There are several forces at play here, but lets start with the government.
When travelling intercity, like Lahore-Islamabad, or Karachi-Hyderabad, options for commuters are confined to personal vehicles, bus services, or in longer routes, air travel and railways. Now though, there is a new disruptor in the transport vertical.
A Business Recorder exclusive yesterday highlighted how privatisation plans are "marred by property disputes". Reportedly the government is yet to transfer the title of some thirty plus properties to Etisalat for the PTCL transaction. But sources say that many of those titles - if not all - are difficult to be transferred because of housing schemes built on them. Likewise there are problems with Fescos and Pakistan Steel Mills properties.
The story of foreign direct investments is getting worse each month. Latest numbers for October 2015 show a steep drop of nearly 50 percent on year-on-year basis, which means the Jul-Oct figures, are now down by 24 percent over last year as against a meagre rise of 7.7 percent at the end of first quarter.
The banking sector result season just got over and little surprise that the profits jacked up considerably - yet again - even after all the super tax and other taxations measures. The sector profits have almost trebled compared to five years earlier - and the only other variable to have also trebled is banking sectors exposure to investments - primarily government securities.
There is no smooth sailing; the LNG import plans progress, and so does the accompanying rattle. After a foreign news agency broke the news that Pakistan has finalized a $16 billion and 15-year long LNG import deal for 23 million tones, confusion followed concerns. However, this is not the first time that the import of liquefied natural gas (LNG) has faced its share of fair resistance; mysteries abound the LNG import plan as the government has been too reticent since the beginning.


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Foreign Debt $62.649bn
Per Cap Income $1,512
GDP Growth 4.24%
Average CPI 8.6%
Trade Balance $-2.197 bln
Exports $1.729 bln
Imports $3.926 bln
WeeklyNovember 23, 2015
Reserves $19.713 bln