Pakistan is globally known for the superb taste of its mangoes. For the past few years, alot of energies have been diverted to promote our local mangoes both locally and globally. In line with these efforts, an international Mango Festival has been organized in the city of Multan, which is in the heart land of [...]
The budget is a disaster for the poor as i just saw from the highlights on my cell phone. It seems the government left nothing un taxed. The telecommunication industry from which i myself belong has been pushed to the edge by imposing flat tax of Rs.1000 on all imported mobiles, which means that rich [...]
I just came across the State Bank of Pakistan (SBP) Third Quarterly Report on the Pakistan Economy. The report is a bit scary specially when you look at the decreasing GDP growth percentage and the increase trade deficit and inflation. The report predicts that the inflation will remain in double digits in 2008-09 while the [...]
Yesterday, Dr Shamshad Akhtar announced few drastic steps by the State Bank of Pakistan to control the rising inflation and to right the monetary policy. The SBP not only increased the interest rates by 1.5% (150 basis points) but also increased the Statutory Reserve Requirement (SLR’s) and Cash Reserve Requirement (CRR). All these steps shows [...]
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