Pakistan posts a current account surplus in July

[Bilal.]

KARACHI: Pakistan's current account had a surplus of $46 million last month, when the 2013/14 fiscal year began, compared with a deficit of $427 million in the same period last year, the Central Bank said on Wednesday.

http://www.brecorder.com/pakistan/business-a-economy/132426-pakistans-ca-surplus-at-$46mn-in-july-2013.html

 

[Imran Khan]

what its mean sir please educate us

 

[Bilal.]

In simple terms it means if you sum up all forign exchange going out like import, debt repayments, etc and subtract it from net amount of foreign exchange being earned like in exports, remittances, fdi etc. We managed to be in surplus. Last year in the same month we were negative 427 million. The implications are stronger rupee and less need for external financing like from IMF.

 

[Assault Rifle]

Pakistan?s debt reaches new heights: Minister of Finance - DAWN.COM

 

[Bilal.]

It's still at a manageable ~65percent of GDP. It's interesting watching Indians trying to put a negative news as soon as a positive one is posted about Pakistan

And then we are accused of being jalous and obsessed

Edit: I was wrong, the debt to GDP ratio is actaully lower ~63 percent.

http://www.dailytimes.com.pk/default.asp?page=2013\06\23\story_23-6-2013_pg5_2

 

[[Bregs]]

1 US $ is 103. 65 Pak Rs at present, if trade surplus keeps on increasing every month then stronger pak currency means stronger economy. way to go. all the best

 

[itduzz]

1 US $ is 103. 65 Pak Rs at present, if trade surplus keeps on increasing every month then stronger pak currency means stronger economy. way to go. all the best

with a pinch of salt

 

[Imran Khan]

with a pinch of salt

1 US Dollar equals 98.68 Japanese Yen so

 

[[Bregs]]

with a pinch of salt

its your mind set which says so i have written the truth show me any single post of mine which is sarcastic in mine short stay at PDF here

1 US Dollar equals 98.68 Japanese Yen so

bro Japanese yen devaluation can't be measured with Japanese economy like other countries, devalued yen is not a measure for Japanese economy since 1971

In the 1970s, Japanese government and business people were very concerned that a rise in the value of the yen would hurt export growth by making Japanese products less competitive and would damage the industrial base. The government therefore continued to intervene heavily in foreign-exchange marketing (buying or selling dollars), even after the 1973 decision to allow the yen to float.

 

[American Pakistani]

1 US $ is 103. 65 Pak Rs at present, if trade surplus keeps on increasing every month then stronger pak currency means stronger economy. way to go. all the best

I think 1US$ = 107PKR?

 

[Bilal.]

Guys don't derail the thread and no it's around 103 per dollar.

 

[arushbhai]

Positive steps taken by the Ministry of Finance. Ishaq Dar ko halka na lo mere bhaiyo. Do you know something? These arabs are racist when it comes to giving job positions. They tend to give high paying jobs to Europeans and Americans rather than asians, indians or pakistanis. But these arabs literally run after Ishaq Dar, and few other pakistani politicians (one is from Jamat-e-Islami) to run their companies. My cousin who is in Saudi arabia told me how an oil firm once held a meeting on how to convince Sartaj Aziz to run their company. Sartaz Aziz is a Godfather of finance and so is Ishaq Dar. They are God gifted when it comes to finance and economics

Just for the unaware (our indian and non pakistani brothers)

This is Ishaq Dar

This is Sartaj Aziz, he is getting soo old

 

[Argus Panoptes]

KARACHI: Pakistan's current account had a surplus of $46 million last month, when the 2013/14 fiscal year began, compared with a deficit of $427 million in the same period last year, the Central Bank said on Wednesday.

http://www.brecorder.com/pakistan/business-a-economy/132426-pakistans-ca-surplus-at-$46mn-in-july-2013.html

Excess remittances for Eid. Nothing more.

 

[ziaulislam]

excess remittences could be the reason..
however things are looking brite in future because of logical steps by current govt..
bringing transparenct and increasing cost of electricty allowed WB and asian bank to pur in more money
huge amount of private investment can happen if they maintain good polices
the key will be coal conversion we could safe upto 10 billion dollars per year if we completely convert all of our power plants to imported coal and use the gas and oil safe in urea and industrial sector..
we can then shift to local coal once thar is developed

 

[anilindia]

Although it is for July only but good sign of economy.