VCheng
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Mere "emphasis" is not enough. None of what he mentions is actually practiced in Pakistan in any consistent fashion.
9-month high: Rupee strengthens to 99 against dollar
- Thread starter Imran Khan
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Mere "emphasis" is not enough. None of what he mentions is actually practiced in Pakistan in any consistent fashion.
forcetrip
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And that will not change no matter what happens? Sounds fair. Were you this skeptical over when the housing market crashed in the US or were you one of the people who said the white people will bounce back no matter what?
Since junoon might do a come back it reminds me of some lyrics from their song "zehni ghulami se kash ho hum azad". According to some people all good news from Pakistan is a lie, all bad news is ten time worse than we understand and there is no way out. Believe them because they say so, don't ask for hard data and proof...
VCheng
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Of course it can change. But any such effort will have effects that are clearly visible. There is no evidence to suggest that any such change has begun at all.
Drama bazi khatam
My-Analogous
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1 US Dollar equals
97.81 Pakistani Rupee
i am not PMLN supporter nor i support any party but i can see some people worship party more then country here . if dollar go down you people should welcome it rather then BLA BLA BLA on gov and dar
brother hum ghareeb khana badoosh log humary pass dollar kahaan se ayye gaay ?
But dollar to S.A say he aaya hai
Imran Khan
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yaar ager is trah 4-5 bar udhar le ker dollar 40 ka ho jaay to kya bat haiBut dollar to S.A say he aaya hai
Saifullah Sani
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APTMA hails government for rupee appreciation
All Pakistan Textile Mills Association (APTMA) has congratulated the government for a historic rupee appreciation from Rs 108 to Rs 98 to a dollar. The currency stabilisation would enhance world confidence in Pakistan while the rupee appreciation will benefit the common man at large. These views were expressed by the Group Leader APTMA Gohar Ejaz and Chairman Aptma Punjab S M Tanveer at a press conference on Thursday.
Tanveer expressed the hope that the handling of economy by the government will make Pakistan an Asian Tiger. He, however, said the government should save the export-oriented industry, as already the textile exporters have started reporting closure of operations with a sudden fall in dollar value.
Tanveer said the government should announce a compensatory relief for industry like India and China. He said the textile industry needs a mechanism for reduction in interest rate and the cost of doing business. Ejaz said high rate of dollar had triggered inflation in Pakistan and the currency stabilisation policy of the government will kick start industrial activity on the country.
He said Pakistan's economy will benefit from currency stabilisation and it will be good for the public at large. Gohar said the economy has faced inflation 10 per cent during last 10 months, which has become part of industry's cost of doing business. The inventory of inputs and raw materials of the textile industry are valued on the basis of exchange rate of Rs 108 and, therefore, this inflation has become part of cost of business back to the 30th June level against the competitors like India and China possessing an effective revaluation and foreign currency mechanism.
Gohar expressed the hope that the economic managers will also revise competitiveness and cost of doing business of textile industry in line with the rupee appreciation. The Aptma leadership said the mark up should be brought down to 3 per cent in the upping monetary policy to make textile industry competitive, reduce power tariff for industrial consumers and ensure five-day a-week gas supply to the textile industry with the end of winter season in the country.
APTMA hails government for rupee appreciation | Business Recorder
All Pakistan Textile Mills Association (APTMA) has congratulated the government for a historic rupee appreciation from Rs 108 to Rs 98 to a dollar. The currency stabilisation would enhance world confidence in Pakistan while the rupee appreciation will benefit the common man at large. These views were expressed by the Group Leader APTMA Gohar Ejaz and Chairman Aptma Punjab S M Tanveer at a press conference on Thursday.
Tanveer expressed the hope that the handling of economy by the government will make Pakistan an Asian Tiger. He, however, said the government should save the export-oriented industry, as already the textile exporters have started reporting closure of operations with a sudden fall in dollar value.
Tanveer said the government should announce a compensatory relief for industry like India and China. He said the textile industry needs a mechanism for reduction in interest rate and the cost of doing business. Ejaz said high rate of dollar had triggered inflation in Pakistan and the currency stabilisation policy of the government will kick start industrial activity on the country.
He said Pakistan's economy will benefit from currency stabilisation and it will be good for the public at large. Gohar said the economy has faced inflation 10 per cent during last 10 months, which has become part of industry's cost of doing business. The inventory of inputs and raw materials of the textile industry are valued on the basis of exchange rate of Rs 108 and, therefore, this inflation has become part of cost of business back to the 30th June level against the competitors like India and China possessing an effective revaluation and foreign currency mechanism.
Gohar expressed the hope that the economic managers will also revise competitiveness and cost of doing business of textile industry in line with the rupee appreciation. The Aptma leadership said the mark up should be brought down to 3 per cent in the upping monetary policy to make textile industry competitive, reduce power tariff for industrial consumers and ensure five-day a-week gas supply to the textile industry with the end of winter season in the country.
APTMA hails government for rupee appreciation | Business Recorder
Al Bhatti
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13 March 2014
Saudi Arabia loans Pakistan 1.5 bln to shore up economy
Saudi Arabia loaned $1.5 billion to Pakistan last month to help Islamabad shore up its foreign exchange reserves, meet debt-service obligations and undertake large energy and infrastructure projects, Pakistani officials have told Reuters.
The Saudi assistance has contributed to a sharp recovery of the Pakistani rupee, which rose to a nine-month high of 97.40 from 105.40 against the dollar between March 4 and 12, its strongest rally in 30 years.
"On a personal guarantee of the prime minister, Saudi Arabia has given $1.5 billion, which has helped bail out the rupee," one senior Pakistani government official close to the deal told Reuters, requesting anonymity as he was not authorised to disclose the source and purpose of the funding.
The governor of the Saudi central bank declined to comment, and officials gave no details of the loan terms.
Another top official who is based in Lahore said the money went into an account known as the Pakistan Development Fund set up to channel money from "friendly countries" like Saudi Arabia and the United Arab Emirates.
"We have a promise of a total $3 billion, of which $1.5 billion has been received so far," the second official said. "Most recently, we got $750 million from the Saudis."
Pakistani Prime Minister Nawaz Sharif has long enjoyed close relations with the Saudi royal family. After his second term as prime minister was ended by a military coup in 1999, he was sent into exile in Saudi Arabia.
Prince Alwaleed bin Talal, the Saudi financier and member of the House of Saud, has described Sharif as "Saudi Arabia's man in Pakistan".
Pakistani Finance Minister Ishaq Dar confirmed on Wednesday that $1.5 billion was received under the development fund but declined to comment on the source.
"Why do you want to expose our friends?" he told reporters. "The countries who have helped us don't want us to disclose the source."
Dar announced the creation of the new fund on Feb. 18, the same day Saudi crown prince and deputy prime minister Salman Bin Abdulaziz Al Saud concluded a three-day-visit to Pakistan.
Pakistan's new army chief, General Raheel Sharif, also met King Abdullah and top Saudi military commanders during a trip to the kingdom two weeks before the new account was set up.
Other high-profile Saudi visitors to Pakistan this year have included Saudi Foreign Minister Saud Al Faisal and Prince Salman bin Sultan, the country's deputy defence minister.
According to the finance ministry, gross official reserves - including the latest injection of $1.5 billion - stood at $9.52 billion on March 11. A third loan tranche of $550 million from the International Monetary Fund, expected before the end of March, will push reserves close to $10 billion.
Pakistan is expected to receive $150 million from the Islamic Development Bank in March, as well as $150-200 million under the Coalition Support Fund, reimbursements for assistance in the U.S.-led coalition's Afghanistan war effort.
Pakistan will also launch eurobonds of $500 million in May and plans to raise billions of dollars in privatisation revenue by June.
An increase in foreign investment and remittances by overseas Pakistanis have also helped lift the rupee. Remittances increased by 11 percent to $10.2 billion during the first eight months of this fiscal year.
The finance ministry has also attributed the currency's recovery to punitive action against exporters withholding export receipts abroad and warnings to foreign exchange speculators.
Saudi Arabia loans Pakistan 1.5 bln to shore up economy - Latest - New Straits Times
--------------------
In 2007 Foreign Reserves were over 17 Billion USD and during the democracy it has now fallen to almost half of that. Hail to democracy
Saudi Arabia loans Pakistan 1.5 bln to shore up economy
Saudi Arabia loaned $1.5 billion to Pakistan last month to help Islamabad shore up its foreign exchange reserves, meet debt-service obligations and undertake large energy and infrastructure projects, Pakistani officials have told Reuters.
The Saudi assistance has contributed to a sharp recovery of the Pakistani rupee, which rose to a nine-month high of 97.40 from 105.40 against the dollar between March 4 and 12, its strongest rally in 30 years.
"On a personal guarantee of the prime minister, Saudi Arabia has given $1.5 billion, which has helped bail out the rupee," one senior Pakistani government official close to the deal told Reuters, requesting anonymity as he was not authorised to disclose the source and purpose of the funding.
The governor of the Saudi central bank declined to comment, and officials gave no details of the loan terms.
Another top official who is based in Lahore said the money went into an account known as the Pakistan Development Fund set up to channel money from "friendly countries" like Saudi Arabia and the United Arab Emirates.
"We have a promise of a total $3 billion, of which $1.5 billion has been received so far," the second official said. "Most recently, we got $750 million from the Saudis."
Pakistani Prime Minister Nawaz Sharif has long enjoyed close relations with the Saudi royal family. After his second term as prime minister was ended by a military coup in 1999, he was sent into exile in Saudi Arabia.
Prince Alwaleed bin Talal, the Saudi financier and member of the House of Saud, has described Sharif as "Saudi Arabia's man in Pakistan".
Pakistani Finance Minister Ishaq Dar confirmed on Wednesday that $1.5 billion was received under the development fund but declined to comment on the source.
"Why do you want to expose our friends?" he told reporters. "The countries who have helped us don't want us to disclose the source."
Dar announced the creation of the new fund on Feb. 18, the same day Saudi crown prince and deputy prime minister Salman Bin Abdulaziz Al Saud concluded a three-day-visit to Pakistan.
Pakistan's new army chief, General Raheel Sharif, also met King Abdullah and top Saudi military commanders during a trip to the kingdom two weeks before the new account was set up.
Other high-profile Saudi visitors to Pakistan this year have included Saudi Foreign Minister Saud Al Faisal and Prince Salman bin Sultan, the country's deputy defence minister.
According to the finance ministry, gross official reserves - including the latest injection of $1.5 billion - stood at $9.52 billion on March 11. A third loan tranche of $550 million from the International Monetary Fund, expected before the end of March, will push reserves close to $10 billion.
Pakistan is expected to receive $150 million from the Islamic Development Bank in March, as well as $150-200 million under the Coalition Support Fund, reimbursements for assistance in the U.S.-led coalition's Afghanistan war effort.
Pakistan will also launch eurobonds of $500 million in May and plans to raise billions of dollars in privatisation revenue by June.
An increase in foreign investment and remittances by overseas Pakistanis have also helped lift the rupee. Remittances increased by 11 percent to $10.2 billion during the first eight months of this fiscal year.
The finance ministry has also attributed the currency's recovery to punitive action against exporters withholding export receipts abroad and warnings to foreign exchange speculators.
Saudi Arabia loans Pakistan 1.5 bln to shore up economy - Latest - New Straits Times
--------------------
In 2007 Foreign Reserves were over 17 Billion USD and during the democracy it has now fallen to almost half of that. Hail to democracy
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