There is nothing much to talk about money growth in FY12 except for government borrowing which breached all records; reaching an all time yearly high of Rs1.2 trillion - more than twice of the worst year of the previous regime (FY08). The stock increased by a massive 40 percent last year to take net government borrowing to Rs4.3 trillion.
Kidnapping for ransom is an old, established and organised crime in Sindh, particularly in Karachi. Typically, well-to-do businessmen and other affluent people would be picked up by a group of kidnappers, who would then quickly hand over the abducted person to another group for a fee.
Can digital footprints lead to greater financial inclusion? This was the question that the researchers at the Consultative Group to Assist the Poor, a reputable research and policy center at the World Bank, set out to explore. After all, there are over two billion people in the world who have mobile phones but no bank accounts, with majority of them in low income segments.
The curtain finally closed on the balance of payments for Pakistan with the current account deficit clocking in at a whopping $4.5 billion for FY12 against a surplus of $214 million in FY11. In fact, the April-June quarter was particularly hard-hitting for the country, recording the worst current account deficit amongst all the four quarters at $1.5 billion.