Current account balance turns into $365m deficit
The current account balance failed to sustain its surplus position as it turned into a deficit of $365 million in the first five months of current financial year 2012-13 due to trade imbalance and lower inflows of foreign reserves, State Bank of Pakistan (SBP) stated on Tuesday.
Japanese auto industry investors shifting focus to Pakistan: envoy
Huge potential exists between Pakistan and Japan to further strengthen economic ties as Pakistan offers a big market for investment in different sectors and hoped the Japanese companies would tap this potential.
Growth rate of 7 to 8% achievable: Burki
There are a number of positive features in Pakistani economy, which if incorporated in the growth equation, can pull the country back from economic stagnation and set it on a plane of high and sustainable rate of gross domestic product growth. Pakistan, if managed properly, can achieve a growth rate of 7.0 percent to 8.0 percent in the next three to five years.Former World Bank VP and former caretaker finance minister of Pakistan Renowned Economist Shahid Javed Burki expressed these views. more... (DT)
Gas consumers: MoP all set to impose DDS
The Ministry of Petroleum is all set to impose District Development Surcharge (DDS) @ Rs 15 per Million British Thermal Unit (mmbtu) on all gas consumers with an objective to utilise the fund on the development of gas producing areas. more... (BR)
PAC briefed on 'SRO culture': frequent policy shifts impeding FDI
The government has admitted before the Public Accounts Committee (PAC) that inconsistency in policy was a major hurdle towards foreign direct investment, as frequent changes in policy were sending negative signals to investors. more... (BR)
Continuation of economic policies: Zardari seeks business community's cooperation
President Asif Ali Zardari Tuesday said that the government was alive to the problems being faced by the business community and industry, including energy crisis and was pursuing various corrective measures to meet the challenges. He sought the business community's co-operation and support for ensuring continuity of economic policies being pursued in the country. more... (BR)