The false news of Templeton exiting Pakistan has jolted the stock market in the last two trading days. But to the relief of punters, its Templeton Global Investment trust not Templeton Asian Growth Fund that is in the process of termination.
2013 was a significant year for the growth and expansion of Islamic banking in Pakistan. From Bank of Punjabs entry into Shariah-compliant banking to Summit Banks announcement to turnaround its business model to a full-fledged Islamic bank, Islamic banking grabbed headlines all throughout 2013.
Improving trade performance to kick start economic growth has been one of the key agenda of the current government. Leading policymakers, academia and government officials alike are envisaging the country to become a trade corridor and its connectivity with the world as the game changers.
Its March 2013. Election campaigns are on fire. With bated breaths, Pakistanis are anticipating an unprecedented showdown in May. Keen political observers, however, are gazing beyond May. After all, schedule is such that a new government will have to choose replacements for the hitherto influential troika within its first six months.
The first six months of fiscal year 2014 have passed. The state of federal finances have been in the news, discussed and debated, particularly in the context of the IMF’s quarterly review. However, little remains known about the current state of provincial finances.
During the last thirty days, the central bank’s reserves have increased by $1.7 billion to reach $4.6 billion, thanks largely to inflows of $1.5 billion in Pakistan Development Fund and $0.3 billion in Coalition Support Fund.