Pakistan expected to remain on sustained growth path

[Shahzaz ud din]

Pakistan expected to remain on sustained growth path
By APP
Published: October 15, 2017
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View of city skyline at dusk in Karachi. PHOTO: REUTERS

ISLAMABAD: A high-level Pakistani delegation held various bilateral discussions on the sidelines of the International Monetary Fund/World Bank annual meetings, according to a press release received on Saturday.

The delegation, comprising Finance Secretary Shahid Mahmood, State Bank of Pakistan (SBP) Governor Tariq Bajwa and Economic Affairs Division Secretary Arif Ahmed Khan, was participating in the 98th ministerial meeting of G-24 in Washington DC.

As economy weakens, govt mulls cutting tax for agri sector

The delegation met IMF Deputy Managing Director Mitsuhiro Furusawa, US Treasury Deputy Assistant Secretary Michael Kaplan and International Fund for Agriculture Development (IFAD) President Gilbert Houngbo, besides attending a number of other events.

The delegation discussed the current economic situation in Pakistan, the release said, adding positive economic developments taking place in the country, particularly the highest economic growth rate in the last 10 years along with contained inflation, were highlighted.

They expressed the hope that ongoing China-Pakistan Economic Corridor (CPEC) projects, improved security situation and growth in private sector credit off-take, especially fixed investments, would lead to a sustained and inclusive higher growth trajectory for Pakistan in coming years.

‘Sindh governor praised economy’

Referring to the main challenges facing the economy, they mentioned that the current account deficit was partly driven by higher machinery imports which in coming years should add to the growth momentum of the economy through increased economic activity.

However, the external account situation was being closely monitored and steps were being taken to address it, the delegation members said.

Published in The Express Tribune, October 15th, 2017.

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Read more: Business , economy , Growth

 

[war&peace]

Pakistan is unable to make the next budget... you need US$ 31 billion for make the budget which you don't have.

 

[volatile]

Pakistan is unable to make the next budget... you need US$ 31 billion for make the budget which you don't have.

Correction it is 17 Billion $
http://www.worldbank.org/en/news/pr...continue-to-support-pakistan-economic-reforms

Even 1 billion less than the Govt is targeting

 

[ziaulislam]

Pakistan is unable to make the next budget... you need US$ 31 billion for make the budget which you don't have.

Correction it is 17 Billion $
http://www.worldbank.org/en/news/pr...continue-to-support-pakistan-economic-reforms

Even 1 billion less than the Govt is targeting

current account deficit has nothing to do with budget or revenues
it seems most of people are completely ignorant of what it means

PS:
you know i am most vocal from day 1 against poor polices of PML N and think they performed similarly or may be worse than PPP given favorable conditions but Current account deficit is expected in any developing country

 

[Chak Bamu]

current account deficit has nothing to do with budget or revenues
it seems most of people are completely ignorant of what it means

PS:
you know i am most vocal from day 1 against poor polices of PML N and think they performed similarly or may be worse than PPP given favorable conditions but Current account deficit is expected in any developing country

Sir, you are trying to educate someone who thinks that @MastanKhan is the greatest thinker at PDF.

 

[Mrc]

Tax the imported makeup clothing luxury living ciggartes power drinks to death... current account deficit will come down.... also good for local industry

Tiles furniture.etc

Pakistan is unable to make the next budget... you need US$ 31 billion for make the budget which you don't have.

Pakistan budget this year was 56 billion dollars... next year will be above 60... are u under 15??

 

[war&peace]

Sir, you are trying to educate someone who thinks that @MastanKhan is the greatest thinker at PDF.

Oh I see...Someone is jealous of @MastanKhan I was under the impression that the title holders put up slightly better show on PDF than an average troll...stand corrected now

Hey @volatile you shouldn't be so impressed by @MastanKhan

current account deficit has nothing to do with budget or revenues
it

so einstein (with small e) Would you like to elaborate then what it has to do with?

Pakistan budget this year was 56 billion dollars... next year will be above 60... are u under 15??

What it has to do with my age? but anyway...can you tell me how much are the reserves now, how much interest and principal amount Pakistan has to pay?

 

[liall]

Tax the imported makeup clothing luxury living ciggartes power drinks to death... current account deficit will come down.... also good for local industry

Tiles furniture.etc




Pakistan budget this year was 56 billion dollars... next year will be above 60... are u under 15??

haha oh boy you have no idea how trade works. You cant just raise import duties like that. If you increase import duties on a product or industry you will have to compensate it by lowering duties some where else because there is a maximum level of overall duties which you can not cross as a signatory of WTO otherwise US would just raise import duty on everything as it runs a huge deficit.

But if you are able to prove that some one is dumping a product in your country you can slap dumping duties on it to protect your industry otherwise random duty increases will be challenged at WTO.

 

[Advocate Pakistan]

Pakistan budget this year was 56 billion dollars... next year will be above 60... are u under 15??

I think he was talking about revenue-expenditure gap.
BTW wasn't the budget at 4.7 trillion rupees/105= 45 billion dollars. (Approximate values)

 

[Mrc]

ou tell me how much are the reserves now, how much interest and principal amount Pakistan has to pay?

World bank has retracted that report... new estimate is 17 billion...

haha oh boy you have no idea how trade works. You cant just raise import duties like that. If you increase import duties on a product or industry you will have to compensate it by lowering duties some where else because there is a maximum level of overall duties which you can not cross as a signatory of WTO otherwise US would just raise import duty on everything as it runs a huge deficit.

But if you are able to prove that some one is dumping a product in your country you can slap dumping duties on it to protect your industry otherwise random duty increases will be challenged at WTO.

They have just raised duties on 350 imported items from 30 to 300 % ... now figure it out and let me know as well...

 

[war&peace]

World bank has retracted that report... new estimate is 17 billion...

good

 

[Great Sachin]

few days back Pakistanis were praising their robust and our perform economy....now this...

 

[Mrc]

few days back Pakistanis were praising their robust and our perform economy....now this...

Its only that no body here including me understands what current account deficit is??? If some one say is importing more products into country tha exports.. how it effects govt?? Caz they are neither govt imports oye exports... these are done by private parties...

So no we can make or budget... that is not issue... but I don't know what issue is frankly... or how grave it is

 

[Dr Shaheryar]

It is not about who imports. Its about availability of Cash in the form of Dollars in Pakistani Market with which these import bills can be settled. The Banking Reserves.

 

[Advocate Pakistan]

Its only that no body here including me understands what current account deficit is??? If some one say is importing more products into country tha exports.. how it effects govt?? Caz they are neither govt imports oye exports... these are done by private parties...

So no we can make or budget... that is not issue... but I don't know what issue is frankly... or how grave it is

The currency for international commerce is U.S. Dollar. When a country imports something, it pays in the form of dollars which are extracted from her foreign exchange reserves. That's why forex reserves are also calculated as "two months of imports" "six months of imports"