Sultan M Hali Pakistan is still reeling under the impact of the recent spates of devastating floods, which have wreaked havoc across the country. More than 20 million people having been affected, the death toll has risen over 1600 and an outbreak of epidemic, which may cause more than 3.5 million children’s lives at risk, [...]
By Mehtab Haider ISLAMABAD: A World Bank survey has revealed that poverty in Pakistan was reduced by 50 percent on consumption-led growth of the economy under the rule of the former president, Pervez Musharraf. “The percentage of the people living below the poverty line in Pakistan fell from 34.5 percent in 2001/02 to 17.2 percent [...]
Aug 042010
By Ismat Sabir President Asif Ali Zardari said that the key to Pakistan’s economic development is trade not aid. However, the president terms the assistance not as aid but as payment for damages that the country has suffered due to its role in fighting the war on terror. It was also renamed by President Obama’s [...]
* Receives $3.647 billion from donors in same period By Ijaz Kakakhel ISLAMABAD: The government reportedly paid $3.136 billion as debt servicing from July 2009 to June 2010, sources told Daily Times on Wednesday. Out of the total payment, an amount of $2.380 billion was paid as principal amount and $756 million as interest on [...]
Khalid Mustafa Pakistan’s public debt has alarmingly swelled to whopping figure of Rs9 trillion meaning thereby that every person and even a child who is yet to be born will come to this world with a gift from the incumbent regime of debt of Rs54,000. The incumbent regime has virtually failed to improve its economic [...]
Jul 202010
Average worth of Pak MPs is $900,000 but only a few pay income tax ISLAMABAD: Much of Pakistan’s capital city looks like a rich Los Angeles suburb, says a report published in New York Times. Shiny sport utility vehicles purr down gated driveways. Elegant multistory homes are tended by servants. Laundry is never hung out [...]
By Javed Mirza KARACHI: Consumer Price Index (CPI) rose by 11.73 percent in 2009/10, surpassing the government’s target of 10 percent, mainly because of unprecedented increase in the electricity tariff. It was, however, below the central bank’s projection of 12 percent. In the last financial year, CPI had gone up by 21 percent. “CPI could [...]
ISLAMABAD: The International Monitory Fund (IMF) projected that Pakistani economy will grow by 4 percent during the current fiscal year, which will expand to 6 percent within the next five years. The Fund released “World Economic Outlook” report on Thursday in Washington. The report said the growth of Pakistani economy (GDP) was 3 percent during [...]
Jun 212010
Mehmood-Ul-Hassan Khan Finance Minister Dr Abdul Hafeez Shaikh presented the federal budget for 2010-2011. As usual, the government termed it business and investment friendly. The government also projected it as people friendly and growth oriented budget. Majority of the opponents labeled it anti-people, business and investments. Even ruling coalition registered its dissatisfaction on the budget [...]
* Upper House unanimously passes recommendations of Standing Committee on Finance * Committee proposes withdrawal of one percent increase in GST * Senators recommend 60% raise in salaries of grades 1 to 16 govt employees By Zeeshan Javaid The Upper House of the Parliament on Wednesday unanimously approved 74 budgetary recommendations and forwarded them to [...]
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