Pakistan’s economy to recover considerably by next year: Reza Baqir

News Image

By MG News | October 10, 2019 at 12:34 PM GMT+05:00

0:00

October 10, 2019 (MLN): The Governor of State Bank of Pakistan (SBP), Dr. Reza Baqir on Thursday said that the depreciation of local currency has helped in curtailing the Current Account Deficit (CAD) to almost half of what it was in FY2017.

During a seminar held in local hotel to discuss the current economic challenges of the country, the Governor said that the freezing of Pakistani Rupee in the past had caused the CAD to rise.

Shedding some light on the role of International Monetary Fund (IMF), Dr. Baqir iterated that as a lender of last resort, IMF only provides financial assistance when it is certain that the country has the potential to pay back.

Governor SBP also informed that the government was moving towards digitalization to easy the process of documenting economy.

Furthermore, he informed that the tax collection by the Federal Board of Revenue had improved considerably.

He also stated that the economy of Pakistan was moving in the right direction, and that the positive impact of the harsh measures taken by the government would be visible by next year.

Copyright Mettis Link News

Related News

Name Price/Vol %Chg/NChg
KSE100 131,197.16
37.98M
0.65%
853.13
ALLSHR 81,562.73
94.58M
0.66%
538.74
KSE30 40,196.52
21.49M
0.72%
288.26
KMI30 191,176.82
25.75M
0.87%
1641.81
KMIALLSHR 55,131.93
56.67M
0.64%
348.27
BKTi 35,128.40
2.56M
0.54%
187.67
OGTi 28,767.32
7.23M
1.67%
471.27
Symbol Bid/Ask High/Low
Name Last High/Low Chg/%Chg
BITCOIN FUTURES 109,560.00 110,105.00
109,200.00
-725.00
-0.66%
BRENT CRUDE 68.61 69.00
68.41
-0.50
-0.72%
RICHARDS BAY COAL MONTHLY 97.50 0.00
0.00
0.75
0.78%
ROTTERDAM COAL MONTHLY 109.20 110.00
108.25
1.70
1.58%
USD RBD PALM OLEIN 998.50 998.50
998.50
0.00
0.00%
CRUDE OIL - WTI 66.98 67.50
66.78
-0.47
-0.70%
SUGAR #11 WORLD 15.56 15.97
15.44
-0.14
-0.89%

Chart of the Day


Latest News
July 03, 2025 at 09:41 AM GMT+05:00

NBP issues foreign exchange rates


July 03, 2025 at 09:32 AM GMT+05:00

Asian markets mixed as U.S.-Vietnam tariff deal unfolds


July 03, 2025 at 06:01 AM GMT+05:00

MG Morning Breeze: Updates to Skim before Market



Top 5 things to watch in this week

Pakistan Stock Movers
Name Last Chg/%Chg
Name Last Chg/%Chg