The value of exports that passed through customs last month stood at $1.9 billion, a gain of 5 percent year-on-year. But that nominal increase wasn able to offset the decline in preceding months, owing to which the four month export numbers were still down about 6.8 percent.
While the independent power producers might be facing tough times in servicing its loans owing to liquidity crunch caused by rising circular debt, the profitability of the power companies soared in the first three months of FY15.
Its all about the calories: The rich find it hard to burn them; the poor find it hard to earn them. A rich person is capable to reject fancy food that doesn look good, but a poor chap could go for day(s) without a loaf of bread.
The dip in commodity prices (read oil) is yet to be seen easing the balance of payment (BoP) slippages. Current account deficit widened to $1.8 billion (1.8% of GDP) in Jul-Oct as compared to $1.4 billion (1.7% of GDP) in the corresponding period last year. The gap in October ($347 mn) is considerably higher than what it was ($79 mn) in the previous month, however, barring CSF export receipts in September, the picture has not changed much.
It has been exactly six months since the license award for next-generation telecom services took place in Islamabad. Already, some operators are claiming reaching over one million 3G subscribers. Information made available shows that the four 3G operators have extended their coverage footprint to a number of major cities - the first port of call in any high-end service or product rollout.
It is not an easy time for Pakistan today, especially considering the political mayhem getting in the way of economic priorities. Yet, the country has managed to defend itself against any rating downgrade so far. The S&P rating services has reaffirmed Pakistans long-term and short-term sovereign credit rating as B- and B respectively, along with a stable outlook.
As expected, the 50 bps discount rate cut brought down the PIB yields to earth. What came unexpected though was governments keenness to welcome whatever came its way. The PIB auction target was set at Rs50 billion, and the realised amount was nearly three times the target. It shows more desperation and the urge to comply with the IMFs requirements, as it was the last auction before the expected tranche release.