Pakistan Claims Lower Inflation- Maintains Interest Rate
The State Bank of Pakistan Saturday announced a cautious monetary policy, maintaining the interest rate to the current level of 12.5 percent because of concerns about remaining inflation pressures, the fiscal slippage in the second quarter, and the availability of external financing. Addressing a press conference State Bank of Pakistan Governor Salim Raza said inflation [...]
Pakistan and Malaysia to swap currency, set-up business council
Besides currency swap agreement with Malaysia to contain the declining foreign exchange reserves, Pakistan has also proposed establishing a Joint Business Council (JBC) between the two countries, government officials said Thursday.
Pakistan projects GDP growth higher than expected
State Bank of Pakistan yesterday projected the real gross domestic product growth for current fiscal year 0.3 percent higher than expected by economist.
Pakistan rupee losing value
The Pakistani rupee continued to loose value Thursday and reached a record bottom for the fourth consecutive day because of high demand for dollars to pay for oil imports. Pakistani Forex dealers say they expect the currency to remain under pressure. The rupee PKR= was quoted closing at 84.86/96 to the dollar compared with Wednesdays close of [...]
Pakistan to Launch Government Backed Savings Bond
Pakistan government plans to launch an investment instrument to raise as much as twenty billions rupees (US $250 million) before the end of this year. Experts believe that funds can be raised from the sale of national savings bonds even in current political situation. Total addressable market for the sale of sovereign bond in Pakistan is [...]
Pakistan To Swap Currency With China
Pakistan’s Ministry of Finance has already asked the State Bank to work out a strategy in consultation with the central bank of China for a currency swap arrangement.
Ibrahim Sajid Malick is a Pakistani-American writer, technologist, and social entrepreneur. He has been writing on Pakistani society and politics since 1986. He has held several media, communications, and technology positions for organizations large and small. Mr. Malick graduated from New School for Social Research with a master’s degree in anthropology. He holds several technology and management certifications. He works for a leading technology firm and blogs at www.ibrahimsajidmalick.com