Minister of State for Finance Aisha Ghaus Pasha on Wednesday said the current account deficit had reached $17 billion in the last financial year. “The current account deficit increased in the last year and we faced this situation,” she told the Senate Standing Committee on Finance. She added that as the International Monetary Fund (IMF) programme was stalled, other financial institutions wer
Finance Minister Miftah Ismail on Wednesday cleared the air about electricity relief to the consumers of 300 units a month on account of the fuel cost adjustment (FCA) for the month of June -- being recovered in coming months. “It has been deferred,” briefly replied Miftah while responding to a question whether PM Shehbaz had deferred or waived off the Rs9.90 per unit FCA. He was addressing
The Pakistan Stock Exchange observed yet another range-bound session on Wednesday owing to the continuous depreciation of the local currency against the dollar. The benchmark index opened in the positive zone but failed to continue its momentum as investors’ participation remained sluggish, according to Arif Habib Ltd. The rupee depreciated 0.9 per cent day-on-day to close at 223.42 against the
PAKISTAN has exempted tomato and onion import from Afghanistan and Iran from sales and withholding tax for four months. However, after initial consideration, the federal government deferred a decision on the import of such commodities from India. Torrential rains and flash floods have put additional pressure on Pakistan’s already ailing economy, and the government has yet to reveal a comprehensive
LORD, we know what we are, but know not what we may be.” Shakespeare alludes to human potential which is always higher than its present condition. Allama Iqbal elaborated on this idea in his famous couplet that translates to ‘elevate yourself so high that even God, before issuing every decree of destiny, should ask you: Tell me, what is your intent?’ Iqbal wanted every person to develop their ‘