Japanese bank Nomura has warned that 7 countries including #Pakistan is at a high risk of economic crises.
Based on data, Nomura estimates-a score above 100 indicates a 64% chance of a currency crisis in the following 12 months.
Pakistan’s score is 120 while Turkey’s 138.
Based on data, Nomura estimates-a score above 100 indicates a 64% chance of a currency crisis in the following 12 months.
Pakistan’s score is 120 while Turkey’s 138.
FBR failed to refund Rs.200 billion to exporters as the stuck-up refunds and tax credit of export-oriented industries swelled.
Meanwhile, the exporters warned of closing down their textile units as a severe liquidity crunch made it impossible to continue their operations.
Meanwhile, the exporters warned of closing down their textile units as a severe liquidity crunch made it impossible to continue their operations.
The rupee regained 24 paise against the US dollar but the currency experts were unable to explain this reasonless appreciation.
Bankers themselves were not convinced with the rates being offered in the interbank market and thought it might be a reason that has caused the diversion of remittances towards illegal channels.
Despite the worst #flood in the country‘s history & billions of rupees in unbudgeted subsidies, Pakistan has initially projected only Rs990 billion fiscal slippages in this financial year, hardly showing a negative impact of Rs55 billion on its revenues. @IMF is puzzled.
The #IMF assessed that out of the total federal tax and non-tax revenues of Rs 9.4 trillion, the government would face a shortfall of Rs 0.35 trillion in the wake of 22% in reduced consumption of POL products in the current fiscal year.
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