It appears that Pakistan’s external account situation is getting grimmer with the passing months. Thanks to a hefty, $596 million current account deficit for the month of February; the overall current account deficit stood at $700 million for the eight months ending February 2013, SBP’s latest statistics show.
Intentionally or unintentionally, Germany’s latest announcement about spending cuts for a more balanced budget sets precedence for other eurozone countries where growth and austerity are usually at odds.
Legislators in Khyber-Pakhtunkhwa (KP) reached consensus over the appointment of a caretaker Chief Minister for the province on Friday, thus taking the lead over other provinces and the Federal Government in transitioning towards the General Elections 2013.
From the highest to the lowest and with the economy tumbling after, the Jack-and-Jill journey of foreign direct investment has been one ferocious reality of the government’s failure to boost investment.
The rejection of PIB auction bids by the cash-strapped government, which was once seen as a rare happening, now appears to be frequent tale. For the third time in a row, the government has rejected the whole lot of bids put forth by the dealers.
The National Assembly is completing its constitutional five-year term tomorrow. Holding the elections on time would mark a successful political, democratic transition-a first for Pakistan! The historic nature of these anticipated events must, however, force a change of expectations the electorates attach to their representatives and a shift in thinking about what the latter are actually supposed to do for the former.