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Tag: NDMA (National Disaster Management Agency)
There are hopes that the Current Account deficit will be managed and that inflation will remain within limits. The problem areas are the falling tax collection and the COVID related steep expenditures and this could negatively impact the budget deficit. The hope is that the agriculture and services sectors will improve and foreign remittances will continue to increase or at least stay on par. Exports remain in decline even though import restrictions have helped but this is not the answer. CPEC related activity is expected to pick up and the real estate and construction sectors are already on the upsurge because of a timely policy step by the government.
The fact is that the Pakistan Stock Exchange (PSX) continues to witness nothing short of a bloodbath as the KSE-100 continues to decline and the Market is being halted on a daily basis as the triggers are being tripped. Close to Rs.400 Billion has been wiped off in value - the biggest decline in 10 years. The Rupee continues to fall against the USD and has lost close to Rs.4.00 and fallen to Rs.159 in the interbank market. Gold continues to rise. The Growth rate has been revised by Moody’s to around 2.5 per cent, which is also starting to appear optimistic. Utter mayhem. Yet, this is not an isolated event for Pakistan, but something that is being witnessed on a global scale. Other economies have been more proactive and put in place measures to try and reduce the fallout from the current situation