Pakistan's Economy - News and Updates

[Nilgiri]

There is just one fly in the ointment. On the day the PKR reached 150 to the dollar. Pakistans external debt increased by $4.63 Billion.
That is an INCREASE in 24 hrs of $4.63 Billion due to that rapid slip in value

Well the external debt as measured in foreign currency remains the same.

What increases is the PKR now needed to pay off the same dollar of debt.

 

[Turingsage]

What increases is the PKR now needed to pay off the same dollar of debt.

OOps thats what I meant. But that is one stiff stretch on the rack
Of course they will revert to printing rupees which will lead to a steep rise in inflation and another bout of devaluation will follow to control imports again

 

[Nilgiri]

OOps thats what I meant. But that is one stiff stretch on the rack
Of course they will revert to printing rupees which will lead to a steep rise in inflation and another bout of devaluation will follow to control imports again

This is where I.K will eventually be judged on, how much of the bureaucracy+policy was managed (to contain/mitigate)...how much was reformed (to get better long term)...and how much was just left as is (status quo rot).

There are steps that can be taken internally to help the first two and combat the last bit.....to essentially do the best you could with the system you inherited etc....but all of it only comes to light later.

I for one didnt know just the extent of loan laundering was done by PMLN admin to keep PKR (artificially) at the rate it was before....till the end of his admin and after.

 

[kris]

There is just one fly in the ointment. On the day the PKR reached 150 to the dollar. Pakistans external debt increased by $4.63 Billion.
That is an INCREASE in 24 hrs of $4.63 Billion due to that rapid slip in value

How does your debt increase in dollar terms if your pkr devaluates....???

It's only the burden that increase due to devaluation

 

[CHN Bamboo]

Pakistan is brimming with a diverse landscape and there is so much to see.

I'd like to know more details about your tourist attractions.
Could you give me a link about tourist attractions in Pakistan? It's better to be as comprehensive as a guidebook.

 

[thunderkaka]

I'd like to know more details about your tourist attractions.
Could you give me a link about tourist attractions in Pakistan? It's better to be as comprehensive as a guidebook.

https://www.tripadvisor.ca/Attractions-g293959-Activities-Pakistan.html

 

[pkuser2k12]

Pakistan stock market gains over 1195.04 points

May 22,2019

KARACHI: The Pakistan Stock Exchange showed a bullish trend on Wednesday with the benchmark KSE-100 Shares index gaining 1195.04 points.

The current index stood at 34,637.14 with a 3.45 per cent change since trading opened.

Bullish activity was also witnessed at the stock market a day earlier with the KSE-100 gaining 191.56 points.

The Pakistan stock market has performed well after reports that government-backed financial institutions would pump liquidity into the market.

Last week, a delegation led by businessmen and brokers held a meeting with Adviser to Prime Minister on Finance Dr Abdul Hafeez Sheikh and discussed the overall macro-economic situation and its impact on capital markets in the country.

Considering the present depressed market sentiment, the delegation suggested various measures for strengthening the capital markets.

It was suggested that the proposed draft of Listed Companies (Buy Back of Shares) Regulations, 2019, be approved on priority basis and the limit of 10 per cent on treasury shares should be enhanced.

It was also proposed to resolve the present issue of ready futures transaction at PSX, which is also hurting the market volumes.

The delegation also recommended that keeping in view the attractive valuations at the PSX, a market support fund may be considered.

On the occasion, Sheikh took note of all the suggestions positively and assured full support and cooperation of the government.


https://www.geo.tv/latest/238038-pakistan-stock-market-gains-over-1100-points

 

[thunderkaka]

Turkish giant Arçelik eyes further expansion in Pakistan

​

The chief technology officer of Arçelik, the largest Turkish enterprise, visited Pakistan on an official visit from 14th to 16th of May, 2019.

During this three-day tour, Arçelik CTO Oguzhan Ozturk held meetings with the corporate leaders and operational teams of Dawlance – the market-leader in Pakistan’s home-appliances industry.

Arçelik is the third-largest manufacturer in Europe, while Dawlance is its fully-owned subsidiary in Pakistan that produces the most reliable electronics and appliances for the consumers.

Ozturk also visited the home-appliance market and toured the Dawlance manufacturing facilities in Karachi and Hyderabad. The purpose of his visit was primarily to make a first-hand assessment of the progress made by Dawlance, with continued investments in innovative product-development and modernization of its manufacturing facilities in Pakistan.

Ozturk commented, “Since acquiring Dawlance in 2016, Arçelik has invested more than 36 million euros in its Pakistani subsidiary with an aim to improve productivity through research and development of new products, in accordance with the evolving needs of this growing market. More investments are being made in product designing and design facilities too, while new equipment and machinery are being deployed to further expand the wide range of Dawlance products. Additional capital of 16 million euros is expected to be injected within the current calendar year.”

He further stressed on the need to enhance technical collaboration between Dawlance plant in Pakistan and Arçelik plants in Turkey, Russia, Romania, Thailand and South Africa. The Dawlance team was also assured that in the coming days, Arçelik will further increase the pace of transferring technical know-how and expertise to the engineering team at Dawlance.

https://profit.pakistantoday.com.pk...t-arcelik-eyes-further-expansion-in-pakistan/

 

[maithil]

Petrol price increased by 9 rupees per litre. Kerosene 12.5 RS per litre.

Perfect way to reduce consumption.

of

 

[shah_123]

News and Updates are:
Petrol price increased + Govt is taxing the poor and bailing out the rich (brokers) + Dawood says that govt unlikely to achieve export target inspite of massive devaluation of rupees.

 

[Wikki019]

News and Updates are:
Petrol price increased + Govt is taxing the poor and bailing out the rich (brokers) + Dawood says that govt unlikely to achieve export target inspite of massive devaluation of rupees.

Exporters are saying you have to have patience and an export oriented policy that will go for at least 5 years. You can't expect miracles with these abrupt policies.

 

[ghazi52]

 

[shah_123]

Eid economy shrinks by one-fifth
Afshan Subohi
June 03, 2019
Pakistan will celebrate Eid simply this year. The falling family income and a steep rise in prices forced people to resist the temptation to indulge, stick to prudence and focus on necessities.

https://www.dawn.com/news/1486276/eid-economy-shrinks-by-one-fifth

 

[The Accountant]

Eid economy shrinks by one-fifth
Afshan Subohi
June 03, 2019
Pakistan will celebrate Eid simply this year. The falling family income and a steep rise in prices forced people to resist the temptation to indulge, stick to prudence and focus on necessities.

https://www.dawn.com/news/1486276/eid-economy-shrinks-by-one-fifth

What the hell so much of cooked up numbers ... eid has not yet even realized and they are projecting no. Of consumption ... dawn is completely sold out to fifth generation warfare ...

 

[shah_123]

What the hell so much of cooked up numbers ... eid has not yet even realized and they are projecting no. Of consumption ... dawn is completely sold out to fifth generation warfare ...

Ask business/trader community, no doubt business very low this time around.