Investment falls, but deficit narrows in Pakistan
The State Bank of Pakistan (SBP) Monday said that foreign investment in Pakistan fell 22 percent to $1.73 billion in the first 10 months of the 2009/10 fiscal year but country’s current account deficit in the same fiscal period narrowed to a provisional $3.060 billion. Foreign investment in Pakistan during the same period last year [...]
Despite Missing Deadlines, Pakistan Gets $1.13 Billion IMF Loan
The International Monetary Fund announced Friday that it will release $1.13 billion aid package for Pakistan despite country’s failure to meet conditions specified in loan agreement. Pakistan had requested for a waiver for its inability to meet quarterly budget deficit target and net government borrowing limits from the State Bank of Pakistan. Murilo Portugal, IMF’s [...]
Pakistan Rupee Gains Vs US Dollar: Traders Plan to Short
Pakistan rupee gained esteem against US dollar but lost ground to the Euro Wednesday. Forex traders in Karachi Thursday plan to hold a short position on the US dollars with expectations that it will decline further. Buy rate for dollars in the interbank market today were Rs. 85.00 and sell rates were Rs.85.05. In both [...]
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