Erum Zadi

  • TKARACHI - Board of Directors Chairman of the National Bank of Pakistan Syed Ali Raza and NBP President Syed Qamar Hussain have resigned because of corruption charges, sources told TheNation on Saturday. Although no reason was given for their resignations, but the sources said they stepped down ...

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  • TKARACHI - Though the tax collection target set by the government for the fiscal year 2011-12 is achievable but economic conditions do not seem to support it. In order to broaden the tax base, the government needs to revive investors confidence and business activities by improving infrastructure ...

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  • TKARACHI - Billions of dollars are flying out of Pakistan through unofficial channels and the government and the State Bank of Pakistan seem to have failed to control the trend, as many politicians, officials and money changers are allegedly involved in the illegality. Hawala and hundi are the major ...

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  • TKARACHI - The large and medium-sized banks owned and operated by business families performed remarkably well in 2010. Notably, such local commercial banks outperformed other banks in terms of profitability, growth and solvency, according to the evaluation results by the Chartered Financial Analysts ...

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  • TKARACHI - The resignation of Shahid H. Kardar as Governor State Bank of Pakistan could signal trouble ahead for monetary policy outlook and economic growth of the country, according to economic and financial experts. This development would have negative repercussions for the capital and financial ...

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  • TKARACHI - The scheduled banks will continue to show reluctance in extending credit to the private sector in fiscal year 2011-12 mainly due to the fear of liquidity crunch, experts say. Pakistans federal government may face a grave fiscal situation in current fiscal, if appropriate measures are not ...

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  • TKARACHI - The local manufacturers of textile and clothing can fully compete in international market by pursuing aggressive marketing strategies and innovative branding, according to the latest report from the State Bank of Pakistan. A paradigm shift appears to be emerging in textile designing and ...

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  • TKARACHI - The State Bank of Pakistan (SBP) has stated that the size of the fiscal deficit cannot be reduced unless the government controls excessive borrowing from the central bank, along with fully implementing fiscal reforms, according to State Banks Third Quarterly Report on the State of ...

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  • TKARACHI - The Karachi Stock Exchange (KSE) witnessed a net inflow of $63 million in the first six months (January-June) of current calendar year (2011), showing a decline of 77 per cent when compared with $271 million reported over the same period of last calendar year. The slow down in foreign ...

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  • TKARACHI - Although all governments have been taking foreign loans to meet their requirements, the government of Prime Minister Syed Yousuf Raza Gilani set new records of getting loans during its first three years, official statistics show. At present, Pakistan owes $59.5 billion to various ...

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  • TKARACHI- The four Independent Power Producers (IPPs), Nishat Chunian, Nishat Power, Liberty and Atlas Power, have withdrawn the notices of invoking sovereign guarantee after meeting with Minister Water and Power Naveed Qamar and Wapda officials. The IPPs have taken back the notices of sovereign ...

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  • TKARACHI- Liberalising the automotive parts trade with India will have negative impacts on the vending industry of Pakistan, according to a position paper released by Pakistan Business Council. The protective environment currently enjoyed by the Pakistani automotive parts industry will be removed ...

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  • TKARACHI - Banks credit to the private sector has swelled by Rs15.655 billion to Rs98.499 billion in July-June 4 (2010-11) as compared to Rs82.844 billion during the corresponding period of last fiscal, showing a growth of 15.89 per cent. This growth has been widely attributed to some improvement ...

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  • TKARACHI - The Pakistani rupee has been experiencing downward trend against major currencies of the world, especially the devaluation of rupee in the last two years has raised the input cost substantially adding to the woes of manufacturers besides economic instability in the country. Auto industry ...

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  • TKARACHI- A report by the Standard Chartered Global Research fears that the central governments borrowing from the banking system for deficit financing will increase to Rs550 billion in the next fiscal year 2011-12 against the budget target of Rs 304 billion due to a higher-than-targeted fiscal ...

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  • TKARACHI The government is unlikely to meet an ambitious fiscal deficit target of Rs 975 billion, or 4.5 per cent of GDP in the fiscal year 2011-12 in an anticipation of weak taxation implementation, rising security challenges and limited external inflows, the experts said on Saturday. The ...

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  • TKARACHI - The Pakistan Business Council (PBC) has recommended to the government to improve countrys fiscal policy by lowering the size of budget deficit and increasing tax-to-GDP ratio. If government takes all corrective fiscal measures with an aim to ensure macroeconomic stability, then it is ...

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  • TKARACHI - The Federal Government has been advised to privatize the Industrial Development Bank of Pakistan (IDBP) in order to improve its performance and make it more viable. The seasoned bankers and industrialists have warned the government that it would lose its credibility within the financial ...

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  • TKARACHI - The State Bank of Pakistan has stated that the capital structure of some of the smaller banks reported a considerable improvement in October-December, 2010, primarily on account of three mergers and the formation of Sindh Bank. At the same time, the SBP has observed that there are around ...

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  • TKARACHI - If the federal government enacts the 2.5-5 per cent corporate tax increase recommended by the Federal Board of Revenue, there could be far-reaching negative consequences for the banking companies and foreign investment in Pakistan. The government is expected to amend the Income Tax ...

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  • TKARACHI - The State Bank of Pakistan kept the key policy rate for the next two months unchanged at 14 percent on Saturday, but urged more fiscal discipline in order to put a check on inflationary pressures. After incorporating the improved external position SBP has decided to keep the policy rate ...

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  • TKARACHI - Pakistans current account has recorded a surplus of $784 million in the first ten months of current fiscal year 2010-11 against deficit of $3.456 billion in the same period of last year due to rising remittances from overseas Pakistanis and steady exports, the SBP reported on Tuesday. ...

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  • TKARACHI - Net Foreign Investment in Pakistan dropped 8.6 per cent to $1.534 billion in the first ten months (July-April) of current fiscal year, 2010-11 amid reduction in the inflows of foreign direct investment into the country and outflow of portfolio investment from the local bourses, the ...

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  • TKARACHI - Total development spending for the upcoming fiscal year 2011-12 is expected to be fixed at Rs650 billion against an official indicative budget estimate of Rs710 billion and the revised target of Rs485 billion set for the outgoing financial year, according to the latest report of JS ...

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  • TKARACHI - Banking Mohtasib Pakistan Mansur-ur-Rehman Khan has said that the total number of formal and informal complaints received by Banking Mohtasib Secretariat under the category of frauds has reached an alarming level in 2010 due to the parallel banking operations of banks staffers. There have ...

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  • TKARACHI - Pakistans broad money growth (M2), a key economic indicator used to forecast inflation, has increased to 9.62 per cent in the first ten months of current fiscal year 2010-11, compared with a 8.07 per cent decline during the same period of last financial year, the State Bank of Pakistan ...

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  • TKARACHI After the death of Osama bin Laden, it seems that allied forces would withdraw from Afghanistan as the war-on-terror is almost reaching to its virtual end. But, on the other side, Pakistani suppliers and traders, engaged in delivering food and other items to contractors of NATO forces, may ...

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  • TKARACHI - The year-on-year based Consumer Price Index (CPI) inflation rate in the federal and provincial capitals like Karachi, Lahore and Islamabad exhibited a slight decline as stood at 11.3 percent, 9.0 percent and 10.4 percent respectively in the month of March 2011 over the same month of last ...

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  • TKARACHI - The big five banks will continue to report strong financial performance in the upcoming quarters due to growing interest and non-funded income of such banks, according to banking sector analyst. However, rising loan losses and higher administrate expenses are expected to remain the great ...

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  • TKARACHI - The foreign trade experts appreciate the resumption of trade talks between the two countries, but fear that the business communitys demands to give a Most Favoured Nation to India could have negative implications for the various sectors of the local industry. The influx of Indian ...

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