State bank of Pakistan, Trade deficit expected to rise

admin — Fri, 08 May 2009 06:16:53 +0000

KARACHI: Pakistan’s trade deficit is likely to mount in the current fiscal as country’s export target is not going to be met this year. This was highlighted in the Economic Update issued by the State Bank of Pakistan. It said achieving the tax revenue target will be difficult and it appears that the target will be missed this year. The Update underlined sticking to the IMF program in order to bring improvement in the economic condition of the country

Private sector loans plummet by over six-times: SBP

admin — Wed, 29 Apr 2009 21:40:21 +0000

KARACHI: Private sector loans during the current fiscal year plummeted by over six-times depicting the slowdown impacts in country’s economy more visible. State Bank of Pakistan (SBP) released figures said that the volume of new loans to private sector during July 2008 to April 18, 2009 amounted to Rs55.43 billion as against Rs359 billion during the same period previous year, which showed private sector’s lack of interests in taking loans. The government obtained Rs103 billion loans from the Central Bank and Rs137 billion from commercial banks in a bid to meet the budget deficits. Currency circulation in the economy increased by Rs194 billion, but the bank accounts, amounts decreased by Rs74 billion, which showed the expansion of money remaining at 1.62 percent.

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State bank of Pakistan, Trade deficit expected to rise

Private sector loans plummet by over six-times: SBP