bafxet
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Who cares the dum Pakistanis are there to bear the cost.
Long live Bani Gala
Long live Raiwand Palace
Long live Bilawal house.
Hell with Pakistanis
US dollar hits all-time high of Rs142 in interbank market
- Thread starter Champion_Usmani
- Start date
Long live Bani Gala
Long live Raiwand Palace
Long live Bilawal house.
Hell with Pakistanis
Champion_Usmani
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@Champion_Usmani Champoo dollar price increased from 60 RS to 104 RS during PPP and your PMLN regime. Why so sudden shock?
Please tell us how criminal Ishaq Dollar kept dollar price artifically high for the past 5 years
Champion_Usmani
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Hyperion
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Like those NS tattas on this forum, you have taken on the official post of IK's tatta. Question is, are you his left ball or right ball? Hope Bushra bibi doesn't mind.
Champion_Usmani
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Must watch...
Norwegian
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Yes please tell us how Ishaq Dollar kept dollar price artifically stable? By taking billions of dollars debt during the past 5 years.
Champion_Usmani
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Alhamdulillah. From Khadim Ala to Khadim Rizvi in jail. Dollar price back to reality. Pmln trolls are crying.
ziaulislam
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حکومت ڈالر نہیں چھاپ سکھتی ۔۔اگر آپ کر سکھتے ھیں تو مہر بانی ہو گی ۔۔۔ اب ہر کسی کو پتہ چل گیا ھے کہ قرض لے کر ڈالر نیچے رکھنے انجام کیا ہوتا ھے
Champion_Usmani
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Alarm bells ring on fiscal deficit as govt borrowing from SBP shows massive spike
ISLAMABAD: The Monetary and Fiscal Policies Coordination Board on Thursday expressed serious concern over the growing budget deficit and inflation, increasing government borrowing from the State Bank of Pakistan (SBP) and sluggish revenue performance.
The board was also worried over the poor show by manufacturing sector and called for earliest possible course correction and advised the government to immediately finalise its medium-term strategy paper for macroeconomic stabilisation.
Finance Minister Asad Umar presided over the meeting and assured the board of government’s commitment to improving the fundamentals of economy and achieving sustainable and balanced economic growth.
“Fiscal consolidation remained a challenge during the first quarter of the current fiscal year as fiscal deficit increased to 1.4 per cent, from 1.2pc in comparable period last year,” Secretary Finance Arif Ahmed Khan was quoted in an official statement. The FBR’s revenue rose by 6.4pc and “if gains traction, it may bridge up the fiscal deficit going forward.”
The Ministry of Finance reported last week that defence and current expenditure surged significantly while development spending dropped drastically in the first quarter of the current year as consolidated fiscal deficit widened to 1.4pc of the gross domestic product (GDP).
It said the total defence spending in first three months (July-September) rose to 0.6pc of GDP, compared to 0.5pc in same period last year. In absolute terms, the defence expenditure increased by 21pc to Rs219.4bn.
The current expenditure also grew by 19pc to Rs1.48 trillion in the first quarter versus Rs1.24 tr of corresponding period last year. As percentage of GDP, current expenditure was up 3.9pc this year, from 3.5pc of last year. Public Sector Development Programme (PSDP), on the other hand, plunged 35.5pc to Rs106.6bn in 1QFY19 as against Rs165bn in comparable period last year. In other words, PSDP spending was down to 0.3pc of GDP, from 0.5pc of last year.
The saving grace came from four provinces who together offered a rare cash surplus of a record Rs246bn.
The board is required to set the direction of government with a mix of public and private sector advice. Led by the finance minister, the board is represented at the highest level by ministries of finance, commerce and planning, SBP and two independent private sector economists.
SBP governor discussed monetary aggregates along with views on the economy. Broad money (M2) witnessed a rise of Rs35bn from July to Nov 16 as compared to a decrease of Rs67bn in same period last year, which was entirely contributed by net domestic assets of the banking system as net foreign Assets continued to contract.
Despite rising interest rate overall private sector credit remained higher than last year. The government borrowed Rs2.859tr from SBP, versus Rs195m in same period last year. On the other hand, it retired Rs2.619tr to scheduled banks as against a borrowing of 201.5m. As a result, net government borrowing from the banking system reached Rs186.5bn, to Rs383.5bn over the previous year.
The private sector credit surged to Rs304bn during the period, as compared to Rs69bn last year with expansion seen largely in working capital and fixed investments.
Khan told the meeting that external balance had improved in the first four months of this fiscal year, as current account contracted by 4.6pc due to significant increase in workers’ remittances, containment in imports and increase in export growth. He said the headline inflation was increasing on the back of non-food inflation above 8pc, whereas food inflation was rising moderately by 2.7pc on account of smooth supply of commodities in the market and better price monitoring system.
He also updated the board about the economic reforms approved by the Economic Advisory Council. The meeting further discussed export credit facility offered by Saudi Arabia, envisaging the purchase of crude oil and or other petroleum product(s) of up to $3.24bn per annum on a 12-month deferred payment basis, a statement said.
Published in Dawn, November 30th, 2018
https://www.dawn.com/news/1448546
ISLAMABAD: The Monetary and Fiscal Policies Coordination Board on Thursday expressed serious concern over the growing budget deficit and inflation, increasing government borrowing from the State Bank of Pakistan (SBP) and sluggish revenue performance.
The board was also worried over the poor show by manufacturing sector and called for earliest possible course correction and advised the government to immediately finalise its medium-term strategy paper for macroeconomic stabilisation.
Finance Minister Asad Umar presided over the meeting and assured the board of government’s commitment to improving the fundamentals of economy and achieving sustainable and balanced economic growth.
“Fiscal consolidation remained a challenge during the first quarter of the current fiscal year as fiscal deficit increased to 1.4 per cent, from 1.2pc in comparable period last year,” Secretary Finance Arif Ahmed Khan was quoted in an official statement. The FBR’s revenue rose by 6.4pc and “if gains traction, it may bridge up the fiscal deficit going forward.”
The Ministry of Finance reported last week that defence and current expenditure surged significantly while development spending dropped drastically in the first quarter of the current year as consolidated fiscal deficit widened to 1.4pc of the gross domestic product (GDP).
It said the total defence spending in first three months (July-September) rose to 0.6pc of GDP, compared to 0.5pc in same period last year. In absolute terms, the defence expenditure increased by 21pc to Rs219.4bn.
The current expenditure also grew by 19pc to Rs1.48 trillion in the first quarter versus Rs1.24 tr of corresponding period last year. As percentage of GDP, current expenditure was up 3.9pc this year, from 3.5pc of last year. Public Sector Development Programme (PSDP), on the other hand, plunged 35.5pc to Rs106.6bn in 1QFY19 as against Rs165bn in comparable period last year. In other words, PSDP spending was down to 0.3pc of GDP, from 0.5pc of last year.
The saving grace came from four provinces who together offered a rare cash surplus of a record Rs246bn.
The board is required to set the direction of government with a mix of public and private sector advice. Led by the finance minister, the board is represented at the highest level by ministries of finance, commerce and planning, SBP and two independent private sector economists.
SBP governor discussed monetary aggregates along with views on the economy. Broad money (M2) witnessed a rise of Rs35bn from July to Nov 16 as compared to a decrease of Rs67bn in same period last year, which was entirely contributed by net domestic assets of the banking system as net foreign Assets continued to contract.
Despite rising interest rate overall private sector credit remained higher than last year. The government borrowed Rs2.859tr from SBP, versus Rs195m in same period last year. On the other hand, it retired Rs2.619tr to scheduled banks as against a borrowing of 201.5m. As a result, net government borrowing from the banking system reached Rs186.5bn, to Rs383.5bn over the previous year.
The private sector credit surged to Rs304bn during the period, as compared to Rs69bn last year with expansion seen largely in working capital and fixed investments.
Khan told the meeting that external balance had improved in the first four months of this fiscal year, as current account contracted by 4.6pc due to significant increase in workers’ remittances, containment in imports and increase in export growth. He said the headline inflation was increasing on the back of non-food inflation above 8pc, whereas food inflation was rising moderately by 2.7pc on account of smooth supply of commodities in the market and better price monitoring system.
He also updated the board about the economic reforms approved by the Economic Advisory Council. The meeting further discussed export credit facility offered by Saudi Arabia, envisaging the purchase of crude oil and or other petroleum product(s) of up to $3.24bn per annum on a 12-month deferred payment basis, a statement said.
Published in Dawn, November 30th, 2018
https://www.dawn.com/news/1448546
Norwegian
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ziaulislam
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عقل کا یہ حال ھے کہ پتہ ہی نہیں کہ
روپے کے قدر کا قرض سے کوئی تعلق نہیں ۔۔
جبکہ اگر فسکل ڈیفیکٹ 6۔6 فیصد سے کم نہیں ہوا اس سال تو میں مان جاؤں گا اور ووٹ نواز شریف کو دونگا ۔۔پہلے سہ ماہ کے نمبرز میں 2 ماہ پچلے حکومت کے نمبرز ھیں
If rupee loses value it increases your debt in rupee not dollars but it's countered by inflation
Canuck786
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The Diplomat
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