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Tuesday, 09 February 2016

 

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35th CAS Open Golf Championship from February 11-14
KARACHI, Feb 8 (APP): 35th Chief of The Air Staff (CAS) Open Golf Championship will be held here from February 11 to 14 at Airmen Golf Course PAF Base, Korangi Creek. More than 300 professional and amateur golfers from all over Pakistan are playing for Rs 3.2 million prize championship, it was official announced here Monday.

 
PCB seeks more time in announcing T20 squads
ISLAMABAD, Feb 8 (APP): Pakistan Cricket Board (PCB) on Monday sought a couple of days time from the International Cricket Council (ICC) in announcing squads for the Twenty-20 World Cup and Asia Cup. The T20 World Cup will be held in India from March 8 to April 3 while the Asia Cup will be staged in Bangladesh from February 24 to March 6. Feb. 8 was supposed to be the deadline for World Cup-bound squad.

 
WI stun Pak to storms in ICC World U19 CWC despite Umairs' ton
KARACHI, Feb 8 (APP): Umair Masood smashed a fighting century but his grand effort went in van as West Indies stunned Pakistan by five wickets to storm into the semi-final of ICC Under-19 Cricket World Cup in Fataullah (Bangladesh) on Monday. Batting first, Pakistan posted 226 for the loss of six wickets in their 50 overs.West Indies in reply romped home for the loss of five wickets with 10 overs to spare.

 
Indo-Pak Friendship Cup Snooker series would be revived: Alamgir
KARACHI, Feb 8 (APP): The popular Indo-Pak Peace Cup Snooker series would be revived, President Pakistan Billiards and Snooker Association (PBSA) Alamgir Shaikh said here on Monday. "We are working on plan to resume the series after lapse of six years," he told reporters during the launch of 41st National Snooker Championship at Karachi Gymkhana.

 
Lianna grabs another medal
ISLAMABAD, Feb 7 (APP): Lianna Swan won another medal for Pakistan in swimming in the South Asian Games at India. Lianna won a silver medal in 100m Breaststroke, says a press release issued here.

 
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Current account deficit expected to decline to under 3% of GDP PDF Print E-mail
ISLAMABAD June 4 (APP):  Current account deficit is expected to decline to below three per cent of Gross Domestic Product during the outgoing fiscal year, according to Economic Survey 2009-10 - a pre-budget document.  The external current account deficit was contained to 5.6 per cent of GDP (US dollars 9.3 billion) in fiscal 2008-09, from a high of 8.3 per cent of GDP in 2007-08 (US dollars 13.9 billion), added the Survey released here today at a press conference addressed by Advisor to the Prime Minister on Finance Senator Dr Abdul Hafeez Sheikh.  HTML clipboard

Pakistan, the Survey said achieved impressive initial gains in restoring macroeconomic stability in the aftermath of the balance of payments crisis of 2008 and as an outcome of determined policy effort.     
The fiscal deficit, the Survey depicted, was slashed to 5.2 per cent of GDP in financial year 2008-09, from 7.6 per cent of GDP in 2007-08, a fiscal adjustment of 2.4 per cent of GDP.
For outgoing year 2009-10, the fiscal deficit is aimed to be kept in check at 5.1 per cent of GDP, despite the absorption of unprecedented security-related spending, stated the Survey.
Foreign Exchange Reserves have been rebuilt to nearly dollars 15 billion, from their low of under dollar six billion in October 2008, though much of the accumulation is due to releases from the IMF, said the Survey.
Inflation registered downward trend from 25 per cent in October 2008, to a recent low of 8.9 percent in October 209, though it has accelerated sharply of recent and is displaying persistence.
International credit rating agencies upgraded Pakistan from CCC plus to B Minus by S&P, while Moody’s revised its outlook to Stable. Challenges, the Survey observed have, however emerged in consolidating these early gains, with inflation in the economy resurfacing and fiscal pressures mounting.
 
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