#pakistan current account surplus
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mcqpin · 1 year ago
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Syllabus of Economics Business Economics-309 for 12th class
There will be one Question Paper which will have 50 questions out of which 40 questions need to be attempted from Economics/Business Economics 309. You can prepare complete syllabus for 12th exam and CUET competitive exam on mcqpin. Unit I: Introduction to Microeconomics - What is microeconomics? - Central problems Unit II: Consumer Behaviour and Demand - Consumer’s Equilibrium: meaning and attainment of equilibrium through Utility Approach: One and two commodity cases. - Demand: market demand, determinants of demand, demand schedule, demand curve, movement along and shifts in the demand curve, price elasticity of demand, measurement of price elasticity of demand – percentage, total expenditure, and geometric methods
Introductory Macroeconomics
Unit III: National Income and Related Aggregates — Basic Concepts and Measurement - Macroeconomics: meaning. - Circular flow of income, concepts of GDP, GNP, NDP, NNP (at market price and factor cost). - Measurement of National Income –Value Added method, Income method, and Expenditure method. Unit IV: Determination of Income and Employment - Aggregate demand, aggregate supply, and their components - Propensity to consume and propensity to save (average and marginal) - Meaning of involuntary unemployment and full employment - Determination of income and employment: two-sector model - Concept of investment multiplier and its working - Problems of excess and deficient demand - Measures to correct excess and deficient demand – availability of credit, change in government spending Unit V: Money and Banking - Money: meaning, evolution, and functions - Central bank: meaning and functions - Commercial banks: meaning and functions Unit VI: Government Budget and the Economy - Government budget – meaning and its components - Objectives of government budget - Classification of receipts – revenue and capital; classification of expenditure – revenue and capital, plan and non-plan, and developmental and non-developmental - Balanced budget, surplus budget, and deficit budget: meaning and implications - Revenue deficit, fiscal deficit, and primary deficit: meaning and implications; measures to contain different deficits. Unit VII: Balance of Payments - Foreign exchange rate meaning (fixed and flexible), merits and demerits; determination through demand and supply - Balance of payments accounts ¡V meaning and components - A brief analysis of recent exchange rate issues INDIAN ECONOMIC DEVELOPMENT Unit VIII: Development Experience (1947-90) and Economic Reforms since 1991 - A brief introduction of the state of the Indian economy on the eve of independence. Indian economic system and common goals of Five year Plans. - Main features, problems and policies of agriculture (institutional aspects and new agricultural strategy), industry (IPR 1956; SSI role & importance) and foreign trade. Unit IX: Current challenges facing the Indian Economy - Poverty absolute and relative; Main programmes for poverty alleviation: A critical assessment; - Human Capital Formation ¡V How many people become resource; Role of human capital in economic development; - Rural development: Key issues ¡V credit and marketing ¡V role of cooperatives; agricultural diversification; - Employment: Growth and changes in work force participation rate in formal and informal sectors; problems and policies - Infrastructure: Meaning and Types: Cases Studies: Health: Problems and Policies ¡V A critical assessment; - Sustainable Economic Development: Meaning, Effects of Economic Development on Resources and Environment, including global warming Unit X: Development Experience of India - A comparison with neighbours - India and Pakistan - India and China - Issues: economic growth, population, sectoral development and other Human Development Indicators Also view Syllabus of Accountancy Book Keeping-301 for Class 12th Read the full article
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worldspotlightnews · 2 years ago
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Remittances hit 7-month high at $2.5b | The Express Tribune
KARACHI: Overseas Pakistanis sent home a record-breaking $2.53 billion in remittances in March, giving the country hope for a future current account surplus. The State Bank of Pakistan (SBP) announced that the inflows of workers’ remittances increased by 27.4% compared to the prior month of February 2023. The sharp rise in remittances can be attributed to two main factors, according to Fahad…
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rulystuff · 4 years ago
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https://servicemeltdown.com/is-the-united-states-at-end-of-empire/
New Post has been published on https://servicemeltdown.com/is-the-united-states-at-end-of-empire/
IS THE UNITED STATES AT END OF EMPIRE?
America’s economic primacy is pretty much behind us. And, I don’t believe there is any chance of reversing a trend that began thirty plus years ago. The best-case scenario for the nation is to slow the rate of economic decline – never mind social and cultural decline, which are probably lodged in irreversible decay.  As Robert Kaplan says in his book, The Revenge of Geography, we might prolong our position of strength by preparing the world for our own obsolescence and thus ensuring a graceful exit.  But even this outcome will require the strength of will that has yet to be demonstrated by leaders in business, education, and government.
Economic primacy might be measured along many fronts – income per capita, rate of growth, productivity, foreign exchange reserves, among others – but if one looks at Gross Domestic Product (GDP), perhaps the coarsest measure of a nation’s economic well-being, then the United States has lost its economic primacy to China when compared on a purchasing power parity (PPP) basis.
The PPP approach levels the GDP calculation to each country’s relative price of goods. So, if a television set costs $500 in the United States while the same television costs $250 in China then, theoretically at least, we’re under counting China’s GDP by $250. Using the PPP rationale, China’s GDP was approximately $23.5 trillion in 2019 compared to that of the United States which came in at $21.4 trillion.
Some politicians, economists, lobbyists, and others, like to use a different measure of GDP to suit their own purposes. The nominal GDP, which looks at the total of goods and services produced at current exchange rates yields a substantially different calculation. The nominal GDP of the United States in 2019 came in at $21.4 trillion, a number which is identical to the nation’s GDP on a PPP basis. The reason for this is that the nominal GDP calculation is based on the dollar and so there is no currency conversion rate difference. By comparison, China’s nominal GDP came in at $14.3 trillion. If we only look at nominal GDP, it is clear we are being lulled into a false sense of economic security.
CHINA HAS UNRIVALLED DIPLOMATIC PATIENCE
Diplomatically, China also has an edge on the United States. In the 1980’s, the then leader of the People’s Republic of China, Deng Xiaoping, enunciated his famous maxim of tao guang yang hui. Interpreted variously, the maxim is meant as a foreign policy directive that regardless how muscular the nation might become economically, geopolitically, and militarily it is always best to keep a “low profile diplomatically.” No more beguiling example of Deng Xiaoping’s maxim is in evidence than in China’s Belt and Road Initiative. Simply put, China plans to build one “road” from China to Europe and thus control all manner of transcontinental commerce. Already, China controls or has a presence in ports that handle about two-thirds of the world’s container traffic. In Greece, the port of Piraeus, a storied port dating to the Fifth Century B.C., is majority owned by the China Ocean Shipping Company (COSCO) which makes Greece a strategic entry point for China into the heart of Europe.
In Central Asia, China’s power projection is as undeniable as it is ominous. Through the auspices of the euphemistically named Shanghai Cooperation Organization (SCO), China has, in effect, expanded its borders westward by 1,500 miles to the Caspian Sea. Strategically, the mostly land-based route from Khorgos, Kazakhstan on China’s western border to Piraeus has now achieved super-highway potential from China to Europe.
China established the SCO with original signatories Russia, Kazakhstan, Kyrgyzstan, Tajikistan, and Uzbekistan for the expressed purpose of promoting border security along its Xinjiang autonomous-region home to millions of mostly Muslim ethnic Uyghurs. Emblematic of China’s clout in the region, moreover, is that since the formation of the SCO both India and Pakistan have been granted membership in the organization. For the United States, it isn’t clear how much leeway it will now have to operate in Central Asia given the leverage that China has over SCO countries economically, diplomatically, and militarily.
China has also learned to game international organizations. The Paris Climate Accord, biased to begin with in favor of China, looks the other way when the nation burns far more coal than it officially admits. So, while emissions in the United States trend lower, potentially hobbling our fossil fuel energy sector, China’s continue to increase. China’ s shell game also involves the building of coal plants outside its borders to further fuel its economy without having to account for the consequent emissions domestically. The World Trade Organization (WTO) is also in China’s pocket as it refuses to rein in China’s channeling of state subsidies to its manufacturing companies so as to better compete on the world’s stage. The most egregious example, of course, of how China has played international and presumably apolitical agencies lies with the country’s spread of the devastating and deadly Coronavirus and how the World Health Organization’s (WHO) was complicit in the coverup of China’s misdeeds. In December, 2019, when Taiwan warned about the infectiousness of the virus, the WHO refused to share Taiwan’s warnings with the rest of the world. Clearly, the WHO was doing China’s bidding. To this day, Taiwan, at China’s behest, is boycotted from participating as a full-fledged member of the WHO.
IF WE’RE NOT MAKING STUFF WHAT ARE WE TO DO?
Let’s face it, manufacturing was lost to our shores for all intents and purposes several years ago. In 2015, China displaced the United States as the top manufacturing nation in the world. In 2019, China’s value-added output – in essence, the difference between price and the cost to produce – in manufacturing amounted to $3.9 trillion compared to $2.4 trillion for the United States. That gap will doubtless continue to grow.
There are now roughly 15 million workers in the United States engaged in manufacturing down from approximately 18 million in the 1980’s – President Trump, to his credit, was determined to revitalize manufacturing, steel, and coal but despite gains in these areas total employment numbers will continue to slip on a trend-line basis.  When one considers that China has approximately 112 million manufacturing workers, the competitive disadvantage for the United States becomes palpably clear.
In 2019 our nation’s goods deficit with China was approximately $345 billion. That gap is not likely to be made up in any of our lifetimes. So, that leaves Services as the new game in town. In 2019, Services accounted for roughly 69% of our nation’s GDP. And, as a nation, we better excel in that new cycle reality. It is true, the United States ran an annual balance of payments surplus in services with China of about $36 billion in 2019 – with U.S. exports amounting to about $56 billion and imports from China totaling $20 billion. But don’t let that fool you as a $20 billion gap will be easy for China to make up especially when one considers that China’s Services sector is growing at an average of 2% per year. And, unless we accelerate the rate of growth of exports – the rate of growth is about even for both imports and exports – we might soon be facing a deficit in this sector of the economy so crucial for the good health of the nation in the twenty-first century.
THE NATION FACES SOME VERY STIFF HEADWINDS
The United States economy has structural defects which will not go away simply by holding rallies and mouthing rhetorical flourishes in the halls of Congress. Decline might be inexorable but we should not stand by as mere spectators. The will and purpose to restore our economic vitality must be marshaled by every American. It must begin, first and foremost, by demanding of our leaders, our institutions, and ourselves to be unafraid to serve in keeping with American priorities. It is the remotest possibility that we can salvage the service economy and consequently our nation unless our standard of performance is nothing less than service excellence in everything we do.
We don’t have a lot going for ourselves: Labor productivity growth is stalled at near zero levels; the rate of household savings is paltry; regulation and taxation still suffocates businesses and individuals despite President Trump’s initiatives; unemployment – not the nominal rate but the U6 rate which measures the unemployed, those that are not looking for work, and those who have had to settle for part-time work –  is mired at levels of 7% (during the Obama years the U6 rate never got below 9.2%); and he national debt is now in excess of 120% of GDP. Entitlement spending while currently at a level of approximately 70% of the federal budget is on the threshold of becoming a perfect storm of out-of- control spending. The progressive policies of the Biden Administration will see to that as it attempts to solve every problem by printing greenbacks. The growing number of baby boomers reaching retirement age and the population’s longer life expectancy will further exacerbate the nation’s economic health.  
Perhaps the most troubling portent for the nation’s future is its inability to clamber out of a deep and black hole in education. Among the 37 industrialized nations which comprise the Organization of Economic Cooperation and Development (OECD), for example, the United States ranks 31st in mathematics and roughly in the middle on science. Clearly, all of the monetary and fiscal policies in the world will hardly fix this crippling deficiency which has more to do with a cultural indifference to serious and rigorous education.
Prior to Mr. Trump’s coming to office, the federal government was hell-bent on redistributing wealth rather than getting out of the way so that risk capitalists could create wealth. Unfortunately, President Trump’s reforms designed to bring back a full-throated and free market approach to the nation’s financial issues died the moment President Biden came into office.
Meanwhile, in the corporate world, business leaders are fixated on how quarterly earnings affect their pay packages, and when push comes to shove, cutting corners and worse. How else can one explain the utter disregard American companies operating in China have for the human rights abuses perpetrated by the Chinese Communist Party (CCP) on its people. Abuses such as forced labor (unions are illegal in China), the internment of over a million Uyghurs and other ethnic minorities, bans on religious freedom and free expression, arbitrary arrests, and the repression of Hong Kong citizens seem not to bother the likes of executives at Caterpillar, General Motors, Ford, AMD, Micron Technologies, Intel, Texas Instruments, Nike, and many others which are doing a land-office business in China. Apple, most notably, has raised to an art form tax, regulatory, and labor dodges which allow it to stash hundreds of billions of dollars overseas while paying little or no income taxes in the United States. The company, apparently, is nonplussed by the fact that its armies of workers in China are employed for wages and benefits that would be in contravention of United States laws. How the CEO’s of these companies can live with themselves knowing full well that they are profiting from someone else’s misery is a testament to their greed and lust for power.
WHERE DOES THE CUSTOMER FIT IN?
From the way we treat our veterans, clients, patients, students, donors, and citizens – customers, all, to my way of thinking we have a lot of work to do before we can claim to excel in service. A survey by consulting giant Accenture in 2007 showed that 41% of respondents described service quality as fair, poor, or terrible – more recent surveys suggest service is worsening. Perform any human endeavor at that level of proficiency and you are an abject failure. In the services sector, however, that is par for the course. In the Far East, cultural determinants do not confuse service with servitude. As a rule, suppliers will go the extra mile to please a consumer. In the West, and particularly in the United States, the most that a service worker can muster when asked to perform a personalized service is to utter something like, “no problem.” That kind of indifferent attitude is ingrained and certain to keep our level of service quality from climbing out of the aforementioned levels of mediocrity.
In the meantime, off-shore locations feast on our indifference to service and do whatever it takes to secure and maintain a customer relationship. The oft-cited explanation for the comparative advantage of off-shore locations, namely, their low cost, is a facile response to a more complicated dynamic. It is true that off-shore locations enjoy all-in cost advantages vis-a-vis the United States. It is also true, that President Trump worked hard to enhance our competitiveness on the world stage by reducing the oppressive web of regulation; reducing our world-leading corporate tax rates; negotiating better trade deals; exiting globalist compacts financed on the backs of American taxpayers; offering a tax holiday for repatriated corporate profits, among other initiatives. Those initiatives, however, have either been rolled back or will soon be under President Biden’s Administration.
My experience is that, particularly in technical disciplines, services delivered by off-shore locations are superior to ours. An apprenticeship initiative, if it were aggressively expanded to include science, technology, engineering, and mathematics (STEM) occupations, might make us more competitive in this area. In the rarefied world of supercomputers so critical to pushing the frontiers of science and technology, for example, the United States is out-produced by China on the order of two-to-one. So, until and unless we grow a much larger crop of more competent technical workers we will continue to be outperformed by nations more determined, better educated, more dedicated, and hungrier than we are.
CAN THE UNITED STATES GUARANTEE THE PEACE?
If the nation has ceded its economic primacy, its military primacy is being severely tested. United States’ land-based forces are heavily committed to counterinsurgency operations to fend off non-state actors while conventional warfare strategic planning appears to be dead. In Europe, a likely conventional hotspot, NATO and U.S. forces are outgunned and outmanned by a factor of at least ten to one by Russian forces. In the far East, China’s land-based forces outnumber the United States by a factor of at least two to one.
Our ocean defenses are in no better shape. The nation’s principal bulwark protecting our shores is in steep decline. The United States Navy is but a ghost of its former self. The nation now has fewer vessels than it had before World War I. Most notably, our aircraft carrier fleet which must number sixteen in order to patrol three separate ocean theaters now numbers ten or barely enough to protect two theaters. In the Mediterranean, the U.S. Sixth Fleet is a non-entity the result of which is to have created a vacuum that is now filled by the Russians, Syrians, and Iranians. In the South China Sea, where American Navy vessels seem unable to sail without colliding into tankers and containerships, the United States is being challenged by a territorially aggressive and technologically advanced Chinese Navy. Already, an armada of sophisticated dredging vessels is reclaiming land from the sea for the sole purpose of building military airfields and naval port facilities. More worrisome, Chinese fighter jets and bombers now violate Taiwan’s air space with impunity and regularity.
Former U.S. Undersecretary of the Navy, Seth Cropsey, in his chilling and sobering account, Mayday the Decline of American Naval Supremacy, reminds us that China was the naval hegemon in the fifteenth century. Under the leadership of Admiral Sheng He, Chinese sailors coursed the oceans from their territorial waters to the Strait of Hormuz. Chinese vessels of the time were of a length and tonnage that were not to be seen in the West until centuries later. China’s naval supremacy only came to an end when civil servants forced severe budget cutbacks on the kingdom. Does our own defense budget sequestration of 2013 under President Obama, with its mandate to, in effect, disarm the military, ring a bell? The results of each nation’s budget missteps are eerily similar. China, for its part, will probably not repeat its mistake. In all likelihood, it will take the United States a generation, assuming proper funding and political will, to restore the U.S. Navy so that we can confidently state that the nation can project power and protect seaborne commerce beyond the horizon.
Just as troubling as the rickety state of the nation’s military naval forces is the state of the United States Merchant Marine. The Merchant Marine fleet hauls cargo during peacetime and is attached to the Defense Department during wartime to transport troops and supplies into war zones. The United States should hope it does not get into a major conflagration oceans away as it has experienced a dramatic attrition in its Merchant Marine fleet and manpower inventory. In 1960, the United States had nearly 3,000 vessels in the Merchant Marine fleet. Today, the nation has fewer than 175 vessels or less than one-half of 1% of the total vessel count worldwide. Worse, United States-flagged vessels carry a mere pittance of the total volume of goods and materials that transit through the nation’s ports. The consequence of what is obviously a weak flank in the nation’s defense posture is that in the event of a major outbreak of hostilities the United States would be reliant on foreign-flagged vessels to carry troops, armaments, and supplies with all of the attendant security risks.
One can argue that China’s bellicosity toward the United States is as asymmetrical as it is frontal and direct: China’s theft of roughly $225 billion, at the low end and as much as $600 billion at the high end, annually in counterfeit goods, pirated software, and theft of trade secrets from the United States; its monopoly of rare earth metals critical not just for consumer products but for Defense Department applications; its financing of over fifty Confucius Institutes on college campuses and schools designed to spread CCP propaganda; and its unleashing of the Wuhan virus which has cost the lives of more than six-hundred thousand innocent Americans is proof positive that China’s strategy is to envelop the United States on all fronts. And, the United States’ military is playing into China’s hands by its determination to “feminize” its armed forces. Progressive ideologues both in the Biden Administration and the Pentagon are using the military as a social experiment petri dish which is undermining the combat readiness of those in a position to protect our shores in the event of war. All you need to know in this regard comes from the Current Commander in Chief, Joseph Biden: “We’re making good progress designing body armor that fits women properly; tailoring combat uniforms for women; creating maternity flight suits; updating – updating requirements for their hairstyles…”
AMERICA AT A CROSSROADS
In sum, if as the great military historian B.H. Liddell Hart suggests, a nation’s Grand Strategy is a composite of its political, military, economic and diplomatic tools in its “arsenal” which can be brought to bear to advance a state’s national interest then the United States appears to be convulsing in its gradual decay. As I have argued in my essay, The United Kingdom Is Resurgent, the former world economic power, lost its supremacy because it failed to adapt to the winds of change which buffeted its shores long after the economy reached its apex in the early twentieth century.
It is also provocative to think that there might be a “natural” life cycle to nations as there is to human beings that is irreversible. Regardless of one’s view in embracing one or another theory that might explain the demise of nations, there is no reason to remain indolent in resisting such decline even if there is only the remotest possibility of such an outcome. Keep in mind that the demise of Rome was hardly cataclysmic but the result of a long succession of imprudent decisions made by the Empire’s leaders.
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hamariworld · 4 years ago
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Pakistan’s current account in deficit for the second month
Pakistan’s current account in deficit for the second month
Stood at $50 million in February Pakistan’s external account posted a deficit for the second month in February as its current account deficit (CAD) stood at $50 million. It was $210 million in January. However, the current account during the eight months of FY2020-21 is still in a surplus of $881 million. It was in deficit of $2.7 billion during the same period last year. “On a month-on-month…
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seekergkfan · 4 years ago
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According to Imran Khan that Economy is on right track now and what amount of current surplus he reveals in July?
According to Imran Khan that Economy is on right track now and what amount of current surplus he reveals in July?
According to Imran Khan that Economy is on right track now, thus what amount of current surplus he reveals in July? A. $424m
B. $524m
C. $624m
D. $724m (more…)
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alexsmitposts · 5 years ago
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Will China Trigger Next Financial Tsunami? With the US decision to impose added tariffs on more than $300 billion of China trade, and the US Treasury declaring China a “currency manipulator”, global financial markets have reacted with sharp selling. The question is whether this is the beginning of a genuine currency war that will trigger a new Financial Tsunami as bad if not worse than that of the Lehman Crisis in 2008. The timing also coincides with escalation of geopolitical clashes between Washington and Venezuela, between India and China and Pakistan over Kashmir, between Turkey with Syria and with Cyprus, as well as the escalating tensions between Hong Kong and Beijing. Are we on the verge of a so-called “perfect storm” that will transform the post-1945 global order? After the breakoff of talks between Washington and Beijing at end of July, US President Trump announced his decision to impose added tariff sanctions on another $300 billion of China products. At that point the Peoples’ Bank of China (PBOC) let the exchange rate of the yuan fall below a psychological resistance level of 7.0 to the US dollar. It had kept the currency above 7.0 for more than a decade to stabilize US trade flows. US stocks reacted with one-day falls of well over 3%, paper losses over $1 trillion and a sharp rise in gold, as investors began to prepare for what could become a dangerous currency war with the world’s second largest economy. In addition, reneging on previous pledges to import more US agriculture products, the Beijing government ordered state buyers to stop all US agriculture purchases at the same time. As well, evidence grows that Beijing is making business more difficult for certain foreign firms in China. Renminbi Currency Reserves Although the PBOC over the next two days moved to stop the fall of the Renminbi (RMB), easing fears of all-out currency wars, as of this writing the China currency is poised to fall significantly, putting major pressure on other Asian export countries such as Japan and South Korea and India. At the same time China’s special financial window to the Western markets, Hong Kong, stands on the brink of a possible martial law and military crackdown from the PLA troops of the mainland, to end weeks of huge popular protest against new laws that would weaken agreed provisions of Hong Kong autonomy. Martial law in one of Asia’s major financial centers would not be positive for China’s efforts to get the China currency accepted as a major reserve currency for trade, a cornerstone of the government’s long term strategy. It would also not help China attract hundreds of billions of foreign investment in its own bond and stock markets. What is not yet clear is whether this series of events portends the end of the globalization of the world economy on which China has built its impressive economic expansion on for the past three decades or so. One key issue is what impact the latest escalation of economic tensions between Washington and Beijing will have on the long-term strategy of making the China currency a major world reserve currency, a critical step for their future ability to fully integrate with global capital markets and expand their ambitious Belt Road Initiative. Here is where signs are that the latest moves to allow the Renminbi to break the critical 7.0 level may be more psychological warfare than actual full financial warfare. After years of trying, China finally won acceptance of the Renminbi as one of only five world currencies composing the IMF Special Drawing Rights (SDR) currency basket along with the US dollar, British Pound, Japan Yen, and Euro in beginning of 2016. The aim has been that the Renminbi could begin to partly replace the dollar in world trade. Were that to happen it would be a major gain for China as a global financial factor and a major reduction of the role of the US dollar and US influence. Since 1945 US global hegemony has rested on two pillars–the US military as dominant and the dollar as world reserve. Since the 1944 Bretton Woods agreement, the US dollar has been the dominant currency in world trade and also in world central bank reserves. With introduction of the Euro almost two decades ago, many predicted the dominance of the dollar would end and with it, an enormous advantage the US has to run US budget deficits financed by others including China whose trade surplus dollars inevitably go to buy US Treasury and related debt. Since the Greek crisis after 2010 exposed major flaws in the Euro architecture and the weakness of EU banks, the challenge from the Euro as alternative to the dollar has stagnated. Latest IMF data show the dollar still holds some 61% of the world central bank reserves and still dominates world trade currencies with 40% of all payments in dollars while 30% are in Euro including the large intra-EU trade. As of 2018 the China RMB accounted for less than 2% of all global payments and around 1% of world central bank reserve holdings. This will become of vital importance to China now as it sees 25 years of unprecedented trade and balance of current account surpluses turn to deficit beginning this year or next. China Surplus Falling Current account surplus has defined China’s economic rise and her status as major source of global credit as the Peoples Bank of China (PBOC) invested record export surpluses into foreign assets, mainly government bonds, and much of that US government bonds. Some economists warn that the PBOC could deploy its financial weapon against US pressure by dumping an estimated $1.3 trillion of US bonds, likely collapsing the US economy in the process. Such dramatic action is however unlikely as China would become a major loser in the process. Not only would the value of China US bonds collapse, also China’s ability to attract hundreds of billions of foreign investment in China bond markets would be at high risk. This year for the first time in 25 years China is likely to run a deficit in its current account. Current account, the sum of trade balances and capital flows, has been hugely positive for China since the mid-1990s as it became the cheap labor “workshop of the world.” China Needs Foreign Investors This year for the first time in nearly 25 years China is expected to have a deficit on its Current Account. This is no small matter. A new report by Wall Street bank, Morgan Stanley, estimates that to balance this growing deficit China will need to attract billions in foreign investment. The report states, “Due to the ongoing transition to a consumption-led economy and a decline in savings amid an aging population, China’s annual current-account deficit could reach as much as 1.6% of GDP—or $420 billion—by 2030.” If true, that is a huge shift in dependence for China. In terms of surplus in goods exports, China has already gone from a surplus of 10% of GDP in 2007 before the major financial crisis, to 2.9% in 2018. This year could be a small deficit. Today foreign investment in China bonds is small at about $35 billion. Morgan Stanley estimates the size of China’s bond market, the heart of the debt system, to be over $12 trillion, third behind Japan with $13 trillion and USA with $40 trillion, but larger than say UK or France. As China’s economy undergoes a major shift to current account deficit over the next few years, it must be able to attract new inflows of investment in its debt from outside. This is a huge problem potentially. This also explains a major reason behind China’s push to develop state-of-the-art advanced industry in its Made in China 2025 strategy that is the true target of Washington trade pressure. At this juncture it looks like a high-risk game of financial chicken between Beijing and Washington. It appears clear that Xi Jinping has decided to hunker down and hold out until the US elections next year in hopes Trump will lose to a pro-China Democrat. What is clear is that this is about far more than any imbalance in China’s trade with the USA.
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dailymailsky · 2 years ago
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Dollar falls by more than Re1 amid hopes of IMF funds release
According to the Forex Association of Pakistan (FAP), the greenback depreciated Rs1.45 against the previous day's close of Rs206 to reach Rs204.55 around 1:20pm.
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The FAP's closing rate of the last session shows a difference of 87 paisa from that of the State Bank of Pakistan, recorded at Rs206.87.
Exchange Companies Association of Pakistan General Secretary Zafar Paracha attributed the international currency's fall to the possibility of the IMF releasing two combined tranches of around $1.85 billion instead of the initially expected single tranche of around $1bn.
On Tuesday, Pakistan received the Memorandum of Economic and Fiscal Policies (MEFP) from the IMF for the combined seventh and eighth reviews of its $6 billion loan programme with Pakistan.
The MEFP contains certain prior actions that would be necessary for implementation before the IMF board takes up Pakistan’s case for approval and the subsequent disbursement funds.
According to the MEFP, Pakistan will have to take at least two more “prior actions” to secure the two combined tranches by the end of July or early August.
Under the MEFP, prior actions include the passage of the federal budget as agreed to with the IMF and presented in the National Assembly on June 24 and present a memorandum of understanding duly signed by the provincial governments to jointly provide about Rs750bn cash surplus to the centre.
Moreover, Paracha said, the signing of a $2.3bn deal between Pakistan and a Chinese consortium of banks had also led to the rupee gaining strength against the dollar.
Mettis Global Director Saad Bin Naseer outlined similar reasons for the dollar's fall.
"The government's revisions to the budget have increased the likelihood of the revival of the IMF programme. We expect $1.9bn inflows from the IMF by the end of next month," he told Dawn.com, adding that $2.3bn deposits by China had also contributed to the "rupee's recovery".
"And deposits from exporters have [also] improved the dollar's liquidity in the currency market," he said.
For these reasons, "we are seeing gradual stability in the exchange rate", Naseer added.
Similarly, head of Research at Tresmark Komal Mansoor also explained that the rupee was strengthening after inflows from China and with exporters "selling dollars in spot and forward aggressively".
"The CAD (current account deficit clocked in higher in May than expected, but with REER (real effective exchange rate) around 93, appreciation of the rupee will continue in the short term. We’re expecting the market to test 200 per dollar soon," she said.
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sohaibahmadu · 3 years ago
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SBP Imposes 100% Cash Margin Requirement on Import of 114 More Items
Following its decision to revise the prudential regulations for Consumer Financing a week ago, the State Bank of Pakistan (SBP) has decided to impose 100% Cash Margin Requirement (CMR) on the import of 114 items, taking the total number of items subject to Cash Margin to 525.
The measure will help discourage imports of the select items and thus support the balance of payments. The items, subject to Cash Margin, are mainly considered in the category of luxury. Some alternative replacements of these items could be found in the local market.
The banking regulator previously imposed such conditions a couple of years back at a time when the balance of payments stood out of control due to high imports bills. Nonetheless, the restriction of Cash Margins was relaxed a few months back after the current account remained in surplus.
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It is pertinent to mention here that this is the second step taken by SBP in recent days to slow down import growth and support the balance of payments. Earlier, SBP revised prudential regulations for Consumer Financing, prohibiting financing for imported vehicles.
Cash Margin is the amount of money an importer has to deposit with its bank for initiating an import transaction, such as opening a letter of credit (LC), which could be up to the total value of an import. Cash Margins essentially increase the cost of imports in terms of the opportunity cost of the amount deposited and thus discourage imports.
It is to note that 100% CMR was initially imposed in 2017 on 404 items to discourage the import of largely non-essential and consumer goods. The list was further expanded in 2018. However, in order to enable businesses to absorb the shocks of the COVID-19 pandemic, SBP provided relief by removing CMR on 116 items a few months ago.
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With the economic growth gaining momentum, SBP has decided to adjust its policy by imposing Cash Margin Requirement on additional 114 import items. This will complement SBP’s other policy measures to ease the pressure of the import bills and help contain the current account deficit at sustainable levels.
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source https://propakistani.pk/2021/09/30/sbp-imposes-100-cash-margin-requirement-on-import-of-114-more-items/
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lahoreherald · 3 years ago
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Inflation seems to be over 9%
According to a recent study from the Ministry of Finance, inflation may reach 9% as a result of monetary expansion and a surge in international commodity prices, and the current account deficit may continue above $500 million in August.
The monthly economic outlook report for the month of August also anticipated about $5.5 billion in imports in August, which has been a significant factor for the current account deficit expanding once more.
According to a study issued by the finance ministry’s economic advisory branch, year-on-year inflation is anticipated to range between 7.6 percent and 9.2 percent in August.
It went on to say that Pakistan’s inflation rate is primarily influenced by current and previous fiscal and monetary policies, international commodity prices, the US dollar exchange rate, seasonal variables, and economic agents’ predictions about how these indicators would evolve in the future.
In July 2021, the rate of inflation was 8.4 percent.
One of the main difficulties identified in the recently released three-year economic growth strategy is a “acceptable level of inflation.”
According to Dr. Ashfaque Hasan Khan, former adviser Ministry of Finance, an inflation rate of approximately 7% is reasonable for a nation like Pakistan.
According to the finance ministry data, the money supply increased by Rs3.4 trillion during the previous fiscal year, representing a 16.2 percent increase over the previous year. It went on to say that a rise in international commodity prices can put pressure on both domestic inflation and the balance of payments.
According to the government, the trade imbalance in goods and services is anticipated to stabilise at around $3 billion in August. The current account deficit is projected to remain manageable, based on a monthly average of $2.5 billion in remittances and other secondary and primary revenue flows.
According to the Ministry of Finance, imports of goods and services would be around $6 billion this month, which suggests $5.5 billion in commodity imports. As a result, the current account deficit would stand at modest monthly levels of approximately $500 million this month, according to the ministry.
In July, the current account deficit was $773 million (or 2.8 percent of GDP), compared to a surplus of $583 million the previous year.
The central bank predicts a current account deficit of up to $9.5 billion in this fiscal year, compared to the Ministry of Finance’s forecast of $13 billion.
According to the finance ministry, the current account deficit worsened due to increased imports of energy and non-energy goods, as well as a rising trend in global prices for oil, Covid-19 vaccines, food, and metals.
On the one hand, global economic recovery, particularly in Pakistan’s key trade partners, is a positive indication for export growth and worker remittances. However, rising international commodity prices pose a negative risk in terms of high import values and increasing inflationary pressures in Pakistan, according to the report.
Published in Lahore Herald #lahoreherald #breakingnews #breaking
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travisqrqj045 · 3 years ago
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Advertising and marketing And Receiving Compensated In Lots of Currencies
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Economic performance—The efficiency of economies also dictates the trade rate of their currencies. When world capital searches for the most effective place to make a return, robust economies are often a good selection. As a result, an influx of capital into a certain economic system will improve the buying power of that economy's forex. Trade Deficits—If an financial system is spending more than it is earning via foreign commerce (goods, companies, curiosity, dividends, and so on.), it is operating at a deficit.
A optimistic worth reveals a trade surplus, whereas a adverse worth reveals a trade deficit. It is an event that generates some volatility for the USD/INR. If a gentle demand in exchange for INR exports is seen, that might flip into a optimistic growth in the trade steadiness, and that ought to be optimistic for the INR. All around the world completely different countries use various varieties of cash.
Is Pakistan cheaper than India?
If a city has a CPI index of 120, it means Numbeo estimates it is 20% more expensive than New York (excluding rent).
Definitions.STATIndiaPakistanConsumer price index > Excluding rent26.42 Ranked 124th.29.67 Ranked 123th. 12% more than India41 more rows
For instance, if you have been in Europe and wanted to trade U.S. dollars for 100 Euros. If the exchange price was 1 Euro equals 1.three U.S. dollars then you would want to give them one hundred thirty U.S. dollars to get a hundred Euro. Exchange rate is nothing however that the rate at which one forex is exchanged for one more.It can be termed as the value of currency in one nation in terms of foreign money of another nation. Exchange fee can additionally be called as foreign trade price or forex rate or FX fee. The worth adjustments everyday depending on the financial situation of the countries. Typically a authorities maintains a set exchange rate by both buying or selling its own foreign money on the open market.
We will take a look at the top 10 highest currencies in the world against Indian rupee 2019. Aside from India, it is unofficially utilized in Bhutan, Zimbabwe, and Nepal. However, the bottom denomination used is a half rupee or the 50 paise. This foreign money is issued and controlled by the Reserve Bank of India , which is India’s central banking establishment, saddled with the duty of controlling, the issuance and supply of the Indian rupee.
Indian Rupees To Pakistani Rupees Conversion Desk
Currency allowed easier trade within the area, and throughout different regions. There are many ways that can help you enhance your buying and selling outcomes. A massive variety of merchants analyze the market to search out the best foreign exchange indicators providers, and we’re able to give you the highest list available on Telegram. Currency– the three-digit alphabetic code for the currency established by the ISO 4217 normal. Alphabetic code is utilized in international banking, trading and in addition as a shorthand for a currency name subsequent to the amount of cash. Foreign foreign money is the principle product in phrases of Forex buying and selling.
Is Korea cheaper than India?
South Korea is 212% more expensive than India.
In these occasions, these currencies can only be purchased on the black markets. This, in turn, has an impact on the enterprise and international partnerships, making them dangerous, unlawful and troublesome. The standing also signifies that the foreign money just isn't subject to the market-driven change rate, and its worth is subject to regulatory interventions, stopping it from turning into unstable. Some nations determine to loosen their restrictions on sure sorts of transfers, for instance remittances.
North And Central American Currencies
However, since these assumptions are nearly never met in the true world, the true exchange fee won't ever equal 1. The balance of payments model holds that foreign exchange charges are at an equilibrium degree if they produce a steady current account stability. A nation with a trade deficit will experience a reduction in its foreign trade reserves, which in the end lowers, or depreciates, the value of its foreign money.
Many European territories around the globe additionally use the euro.
By 2018, the whole value of euro currency in circulation was almost 1.2 trillion euros, or over three.4 thousand euros per capita.
Since the rupee is a floating forex, its change fee with the U.S. dollar fluctuates every day, and varies relying on where and the way the exchange is made.
Hard forex refers to cash that is issued by a nation that's seen as politically and economically stable.
Otherwise, local banks and fee-friendly ATMs normally have higher offers.
Currently, tourism is the fastest growing sector within the nation.
Alltogether, there are 162 official currencies around the globe. Of these 162 however 48 currencies are tied to another with a set change rate. If simplicity is your jam, Valuta+ is certainly value taking a look at. It's incredibly user-friendly, is super-easy to use, and permits you to mark your favourite currencies, so that you don't have to keep scrolling by way of the listing to search out the right one. It additionally works offline, which is helpful when you're haggling in a market and may't quite keep in mind the exchange fee. The Euro can additionally be one of the most expensive currencies in Indian rupees.
Currencies By Number Of International Locations
These codes are sometimes additionally referred to as "SWIFT forex codes". Pegged floating currencies are pegged to some band or value, both fixed or periodically adjusted. Sushi, cherry blossoms and sake await you within the land of Japan. You’ll be surprised to know that it is doubtless considered one of the nations whose forex is lesser than Indian rupee.
The Unit Conversion page supplies an answer for engineers, translators, and for anyone whose actions require working with quantities measured in several models. Currently, all currencies use a three-letter code as a approach to distinguish between currencies with the same name. The first two letters check with the country and the third is the initial of the currency name.
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jawadhaider · 3 years ago
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Positive Points:
- Saving us from Corrupt & tested politicians
- Ehsas Program
- Health Card
- Panah gah
- Langar Khana
- Apna Ghar
- Billion Tree
- Covid handling
- Vaccine manufacturing
- Actions on Kabza mafia
- 2 new Dams
- 2 New canals
- Export based economy
- Pakistan & islam based foreign policy
- Kashmir, palestine
- Islamophobia
- Roshan digital account
- Current account surplus
- Agricultural reform and policies for farmers
- Reviving textile industry
- Boom in IT industry
- Housing loans
- Action against JKT
- Building a narrative that India is a terrorist state and we are not
- Investment in Science and Tech
- Single curriculum
- Improvement in SBP
, NCOC, NHA, WAPDA, PIA, SECP
- Exposing Indian terrorism network
- Awareness of global warming /Climate Change.
- Revival of Tourism industry.
- BRT
- Start of e-management of posting & appointments in education department.
- Transparency in JIT of National level scams.
- Focus on Islamic teaching at education institutions.
- Systematic cleansing of mafias in govt departments.
- Citizens portal (even if 25% output)
- Exposing of Socalled Politicians & their vested interests.
- GB status of provisional province.
- Langur Khana
- Kamyab Jawan Program
- Kisan Card
- Shaukat Khanum hospital at Peshawar & Karachi.
- Indeginization in medical tech (ventilators, covid kits, Masks & senitizers)
- 9 New Hospitals
- 7 new Universities
- Appointment of 15000 healthcare professionals
- Appointment on merit of HOD of 15 universities, 250 colleges, 8 education boards
- Merit based Transfers of 40,000 teaches without any political interference
- Inaguration of BS classes in 50 colleges
- Upgradation of 1200 schools
- Waver of $5.97B fine imposed in Reko Down case
- Waver of $1.2B in Karkey dispudispute
Negative Points:
- NRO to Nawaz, SHEHBAZ, Maryam, Zardari, Hamza
- No new cases against Ashrafia despite solid evidences
- Incapable team of minister s and advisors like Shahzad Akbar, Arbab Shahzad, Dawood, Nadeem Babar
- No control on Pemra, Ogra, Pemra
- Poor Media Team
- Rashkai economic zone
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worldspotlightnews · 2 years ago
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Pakistan’s current account deficit hits two-year low | The Express Tribune
KARACHI: Pakistan’s current account deficit (CAD) hit a two-year low of $74 million in a month, narrowly failing to turn around the country’s deficit into surplus in February. The government achieved the significantly low deficit through limiting imports to manage with low foreign exchange reserves and high risk of default on foreign debt repayments. The low imports, however, slowed down…
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letspremierenergy · 4 years ago
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SBP Solar Financing Program
State Bank of Pakistan has started the Green Banking system to fuse ecological considerations in banking tasks, administrations, and financing. The State Bank of Pakistan has initiated solar financing to urge individuals having a place with the industrial, business, domestic, and rural area to put resources into sustainable power sources. Under this program, SBP has given reexamined models for SBP sustainable power source financing in Pakistan in 2016.
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Sun oriented Financing Pakistan
Pakistan has been confronting energy emergencies just as natural pollution with the utilization of nonrenewable assets. The cost of power is expanding quickly, and monetary development is declining. To counter these issues, SBP began the solar financing in Pakistan so businesses, and residential owners can put resources into a sustainable power source with the assistance of speculation from banks. This program will allow more individuals to utilize sustainable power sources, which will help in accomplishing a free and continuous availability of power. The surplus energy which is created will be accessible to others through net metering so it will affect the entire country.
Qualification Criteria
The qualification standards to meet all requirements for this program have been kept straightforward and simple to adapt to the first target of the program that is to urge more individuals to utilize sustainable power sources by making it reasonable. The qualification standards contain just these two prerequisites:
·        Must hold a Computerized National Identity Card (CNIC)
·        Must be the proprietor of the business, and the house where the solar panel framework is to be introduced
Mark-up
The markup rate has been set prudent to ensure more individuals can manage the cost of it, and become a part of this activity. The markup rate has been chosen 3+3=6 per annum by the SBP. The 3% can additionally be arranged relying on your relationship with your bank.
The Best Options
Many banks in Pakistan are providing solar financing under the State bank of Pakistan’s renewable energy refinancing program. We are listing the top 5 most actively participating banks which are a good option to consider for solar financing.
JS BANK
JS bank is a renowned bank and is an advocate of Green Energy. When SBP launched the solar financing scheme, JS bank stepped in to help people use the opportunity to get control over their bills and contribute to national growth. For this purpose, JS launched two financing programs based upon the end-users. These programs are:
·       JS Apna Ghar Solar Financing Program (for residential purposes)
·        JS Smart Roshni Program (for commercial purposes)
Common Features of The Programs
Both of the programs launched by JS Bank have some common features which are as follows:
Financing
Between Rs. 300,000 and Rs. 20 million, depending on the multiple number and sizes of the solar panels being purchased
Equity
Minimum 25% of the financing amount
Mark-up rate
Only 6% per annum
Financing tenor
Between 3 and 5 years, with repayment in monthly installments
Processing fee
Minimum PKR 5,000/- or 0.5% of the loan amount (whichever is higher)
Insurance
Offered through reputable insurance partners at a preferential rate
Prerequisites To Get Financing:
·        An account at JS Bank (Current or Savings)
·        Fill & sign loan Financing application form
·        Obtain quotation of solar panels system from authorized energy partner of the Bank
·        Two recent passport size photographs
·        Copy of CNIC
·        CF-1 Undertaking Form to be fulfilled
·        JS Solar Panel Program Key Fact Sheet
·        Property Ownership document along with the latest utility Bill & Electricity Bill
·        Bank statements of business or personal account
·        Contact information of the Applicant & Co-borrowers
·        Active tax payee with NTN number
·        Any other requirement of the Bank
BANK of Punjab
The Bank of Punjab also supports the SBP’s initiative for a better future through renewable energy financing. For this purpose, they have started to give financial assistance to people who want to get solar panel systems for their homes. They have named the program “BOP SOLAR HOME”.
Features of the Program
Financing
Up to Rs. 5 million.
Equity
Minimum 20% of the financing amount
Mark-up rate
Only 6% per annum
Financing tenor
Up to 7 years
Processing fee
PKR 5,000
Insurance
Offered through reputable insurance partners at a preferential rate
Prerequisites to Get Financing:
·        Fill & sign loan Financing application form
·        Two recent passport size photographs
·        Copy of CNIC
·        Property Ownership document along with the latest utility Bill & Electricity Bill
·        Bank statements of business or personal account
·        Active tax payee with NTN number
·        Proof of employment or business for the last 03 years
·        Copy of professional degree
·        
Details of any other loans from all sources
BANK of Khyber
The bank of Khyber started its solar financing program from Peshawar and after its successful results, they have launched the program all across Pakistan under the name “BOK Roshan Ghar Scheme”. BOK provides solar financing for residential customers and is playing their role for a cleaner greener Pakistan under SBP’s solar financing scheme.
Features of The Program
Financing
From 50,000 to 20 million based on the category of the program, you fall in.
Equity
Minimum 25% of the financing amount
Mark-up rate
Only 6% per annum
Financing tenor
From 6 months to 5 years
Processing fee
PKR 5,000 plus FED
Insurance
Insurance from Askari General Insurance Peshawar (0.3%+taxes).
Prerequisites to Get Financing:
·        Fill & sign loan Financing application form
·        Two recent passport size photographs
·        Copy of CNIC
·        Property Ownership document along with the latest utility Bill & Electricity Bill
·        Bank statements of business or personal account
·        Active tax payer with NTN number
·        Proof of employment or business for the last 03 years
·        Copy of professional degree
·        Details of any other loans from all sources
Habib Bank Limited
HBL is the biggest bank of Pakistan and is providing solar financing to address the increasing energy crises in Pakistan. They are providing solar financing to mostly industrial clients and have made three categories of solar financing. These categories are:
·        Category-I: For projects with a capacity ranging from more than 1MW to 50MW.
·        Category-II: For projects/solutions for the generation of electricity up to 1MW.
·        Category-III: Suppliers certified under AEDB Certification Regulation 2018 for installation of wind and solar systems on a lease basis or selling of electricity to ultimate owners.
Features of the Program
Financing
·        Category-I: PKR 06 billion for a single project.
·        Category-II: PKR 400 million for a single borrower.
·        Category-III: PKR 01 billion for a single supplier.
Equity
Minimum 25% of the financing amount
Mark-up rate
Only 6% per annum
Financing tenor
·        Category-I: Maximum 12 years (including 02 years grace period).
·        Category-II: Maximum 10 years (including 03 months grace period).
·        Category-III: Maximum 10 years.
Prerequisites to Get Financing:
·        Fill & sign loan Financing application form
·        Two recent passport size photographs
·        Copy of CNIC
·        Property Ownership document along with the latest utility Bill & Electricity Bill
·        Bank statements of business or personal account
·        Active tax payer with NTN number
·        Proof of employment or business for the last 03 years
·        Copy of professional degree
·        Details of any other loans from all sources
Don’t know what to do next?
Choosing the right bank for solar financing may get confusing and then applying and attainment of the loan may become even more troublesome. Premier Energy is here to take your worries off you. They provide Turnkey solar solutions which means that to obtain the loan without any hassle, all you have to do is pick up your phone and reach out to them. Discuss with them and choose which system you want. They handle the rest of the process including application fulfillment, submission, and installation of the system at your premises.
They have also completed many residential, commercial, industrial, and agricultural projects. Premier Energy is the biggest advocate of green energy and a clean environment. They are struggling to provide solar solutions so we all can pave the way for a brighter future where the environment is conserved, pollution is nonexistent, and Pakistan is independent in the production of electricity. This is a dream which we all see and it can only be achieved with collective efforts. Be a part of Premier’s energy revolution just like me and go solar today.
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newsnextnow · 4 years ago
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Remarkable turnaround in Pakistan economy despite COVID-19: PM Imran
Remarkable turnaround in Pakistan economy despite COVID-19: PM Imran
Prime Minister Imran Khan on Tuesday shared “great news on economy” despite the novel coronavirus pandemic. “MashaAllah, despite COVID-19 great news on economy,” he wrote in a tweet. “Remarkable turnaround. The premier said Pakistan’s current account surplus in the month of November was $447 million, raising the cumulative surplus for the year to $1.6 billion.” For the same period last year, the…
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news4all · 4 years ago
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Pakistan Economy stages remarkable turnaround says PM Khan
Pakistan Economy stages remarkable turnaround says PM Khan
Prime Minister Imran Khan on Tuesday said that Economy of Pakistan despite the coronavirus pandemic has staged a remarkable turnaround. Taking to his official Twitter handle, PM Imran Khan said: “MashaAllah despite Covid 19 great news on the economy – remarkable turnaround.” Imran Khan said that despite the national challenges, Pakistan’s current account witnessed a surplus. PM wrote: “Current…
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timespakistan · 4 years ago
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Stock rally, rupee appreciation point to ‘positive economic sentiment’: Azhar 
Minister for Industries and Production Hammad Azhar tweeted on Monday that a rally in shares on the stock market, the appreciation of the rupee, and strong growth in industrial sectors point towards a positive economic sentiment in the country.
He said tax revenues are also rising and the country’s current account is also in surplus.
In a tweet on October 21, Prime Minister Imran Khan had said: “We are headed in the right direction finally.”
Rally in the stock market, appreciation of PKR in currency markets, strong growth in industrial sectors like Cement, Automobiles, Construction, Fertiliser, Textiles etc point towards a positive econ sentiment in the country. Tax revenues also rising & Current Account in surplus.
— Hammad Azhar (@Hammad_Azhar) October 26, 2020
He said the country’s current account balance posted a surplus of $73 million during September, bringing surplus for the first quarter of the current fiscal year to $792 million as compared to $1,492 million deficit recorded during last year’s corresponding year.
The prime minister said exports also saw a 29 per cent increase besides remittances growing 9 per cent over the previous month.
from Times Pakistan https://ift.tt/36eqCqm via Daily News
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