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By Abdul Qadir Qureshi (Pakistan News & Features Services) “Acute political confrontation of the decade, non-adherence to constitutional procedures, governance issues, absence of consensus on a national economic plan, mistrust in leadership, dependence on foreign financial and management support marred the 2020-2021 budget, like last budget, but to cap it all came COVID-19.” This was observed by Senator Nisar Memon, a former federal minister, when approached by PNFS for his thoughts about the budget.  “The GDP growth target for FY21 is set at +2.1% as against 0.4% negative growth in FY20 while fiscal deficit target has been set at PKR 3,195 billion or 7.0% of GDP and inflation target has been set at 6.5%. The total outlay of budget 2020-21 is PKR 7,294.9 billion, this size is 11% lower than the size of budget estimates 2019-20,” he pointed out.  “The government has not imposed any new taxes in the budget but has budgeted increase in FBR revenues. The ...

By Masood Sattar Khan  (Pakistan News & Features Services) Foreign Minister Shah Mahmood Qureshi has observed that Prime Minister Imran Khan’s appeal to the world yielded results to reschedule the loans as world particularly the developing countries were under enormous pressure.  Talking to electronic media, the Foreign Minister revealed that the International Monetary Fund (IMF) has agreed to reschedule the loan Pakistan obtained for one year that would be effective with immediate effect.  He also disclosed having held talks with the Chinese Foreign Minister, Wang Yi, before the G-20 meeting as many counties were of the view that China and Russia could play significant role in loan rescheduling.  Shah Mahmood said that his Chinese counterpart had given him the assurance of his country fully supporting the initiative of Pakistan’s Prime Minister.  Claiming that the diplomacy was bringing in the results, he informed that China has also agreed to reschedule it...

By Abdul Qadir Qureshi (Pakistan News & Features Services) The State Bank of Pakistan (SBP) Governor, Dr Raza Baqir, assured the members of the English Speaking Union of Pakistan (ESUP) as well as others attending the meeting at Beach Luxury Hotel, Karachi, on March 2 that the economic conditions of the country were far better off in many areas as compared to the past. While the audience, having gathered much before the arrival of the chief guest, stood divided in believing the contents of the speech, the SBP Governor didn’t mind replying to tough questions in the interactive session.  Aziz Memon, the livewire President of the ESUP, showered Dr Raza Baqir with praise while introducing him formally before inviting the distinguished speaker to deliver the keynote address. At the end of the session, the SBP Governor was presented a shield by the ESUP officials. Dr Raza Baqir, having worked at key positions in the past, including a stint with the Internat...