News Guru on Economic Review

Part-1----IMF Review

 

 

Inflation remains high with wide current account deficit- IMF

 

Pakistan's external financing needs remain large-

 

IMF warns to reduce vulnerabilities in light of recent political uncertainties-

 

Maintenance of high growth remains main challenge-

 

Lowering inflation and reducing deficits major challenges-

 

Sustainability requires tight fiscal and monetary policies-

 

Strengthen fiscal programmes to complement monetary tightening-

 

Reduce energy subsidies and capital spending-

 

IMF regrets central bank financing of budget-

 

IMF stresses need to adjust treasury bills interest rates-

 

Domestic borrowings need to be met through commercial banks or NBFIs-

 

IMF calls greater exchange rate flexibility-

 

Fiscal consolidation required beyond FY08 to have good macro indicators-

 

IMF emphasizes reforms to increase revenues-

 

IMF suggests taxes on agriculture, services sectors

 

IMF wants reduction in tax exemptions-

 

Contingent liabilities should be incorporated in budget-

 

Real effective exchange rate broadly in line with economic fundamentals-

 

IMF welcomes SBP's intention to shift oil imports to inter-bank foreign exchange market-

 

IMF underscores need modernize energy sector regulatory and tariff framework-

 

IMF oppose ad hoc tariff and nontariff barriers-

 

IMF wants parliamentary approval of anti money laundering bill

 

Net international reserves fell by $1 bln-

 

 

Financial Stability Review:

 

Financial sector assets amount to PKR 6.9 trillion-

 

KSE capitalization up 38 pct YoY to 46 pct of GDP-

 

 

 

Part-2-- Election 2008

Transparency on Manifestos of 5 Political Parties-

 

Pakistan performs poorly on corruption rankings

 

Transparency survey response:

 

PML (N), 10/11

 

MQM 9/11

 

PPP 7/11

 

PML (Q) 5/11

 And

 

ANP 4/11.

 

 

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N A D E E M M A L I K
CNBC PAKISTAN
BUREAU CHIEF
ISLAMABAD
0321-5117511
nadeem.malik@hotmail.com
16^th Floor, Saudi Pak Tower, 61-A Jinnah Avenue, Islamabad. 051-2800113-14, Fax: 051-2800118
 

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