Historian and American University professor Allan Lichtman, who has correctly guessed every United States presidential race winner since 1984, including Donald Trump’s surprise victory in 2016, has predicted that Trump will not get another term. Lichtman measures the chances of the winner based on his “13 keys to the White House” scale. The keys factor in the strength of the…
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CPI inflation has been recorded at 8.9 percent for October 2020, against 9.04 percent in September. Although general inflation reduced yet, food inflation is still in double-digit and has increased. Last year, in October 2019, the CPI was at 11.04 percent, the Pakistan Bureau of Statistics (PBS) on Monday reported. Average inflation of July-October 2020 was recorded at 8.86pc compared…
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ISLAMABAD: The government on Thursday approved a fertiliser subsidy of Rs5.4 billion for farmers, two days after a ruckus in the federal cabinet over increasing inflation and the lack of a coordinated response to tackle it. The Economic Coordination Committee (ECC) of the cabinet approved a subsidy of Rs1,000 per 50kg bag of di-ammonium phosphate (DAP) fertiliser, according to a…
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ISLAMABAD: Pakistan has decided to seek rollover of a $3 billion Chinese trade finance facility that it has actually used to repay maturing debt and is not in a financial position to return the money when the facility expires after six months. The State Bank of Pakistan (SBP) has fully tapped the $3 billion or 20 billion Chinese yuan in…
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The ‘Migration and Development Brief’ released on Friday says that the negative impact of the Covid-19-induced global economic slowdown has been somewhat countered by the diversion of remittances from informal to formal channels due to the difficulty of carrying money by hand under travel restrictions as well as the incentives to transfer remittances. Citing example, the report titled ‘Phase-II Covid-19…
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Foreign investors have divested $430.4 million from debt assets in Pakistan and invested $150 million in the government papers during the first four months of the current fiscal year of 2020/21, it was learnt on Saturday. The country saw a huge equity and debt outflows of $279 million toward the end of October, according to the central bank’s data. Foreign…
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The government on Saturday reduced petrol price by Rs1.57/litre and diesel by Re0.84/litre, while kerosene and light diesel oil prices have been kept unchanged for the next fortnight. After the latest decision, the petrol price will come down from the earlier Rs103.97/liter to Rs102.40/ liter. Diesel price was also reduced from Rs104.06/litre to Rs103.22 per liter. Kerosene and LDO prices…
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The State Bank of Pakistan (SBP) returns to profitability after incurring loss in the preceding year (FY19). It earned highest-ever profit of Rs 1.16 trillion for the year ended June 30, 2020 (FY20), mainly due to stability in exchange rate and significant increase in interest income. The Board of Directors of the State Bank of Pakistan on October 26, 2020…
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KARACHI: Cement sales and exports are expected to post double-digit growth in October over the corresponding month a year earlier as the government’s incentives to real estate sector are boosting the construction activities, a brokerage said on Thursday. Sales and exports are likely to increase 15 percent year-on-year and 10 percent month-on-month to 5.7 million tons, according to Topline Securities.…
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The government has decided to borrow Rs3.5 trillion from the banking system till the coming January as it still needs resources to finance budget deficit despite growth in nontax revenue, it was learnt. The government aims to sell domestic debt up to the end of January 2021 to finance the budget deficit that stayed at Rs440 billion or 0.9 percent…
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