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Monday, 27 April 2015

 

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Pakistan must win convincingly to avoid slip in Test table
KARACHI, Apr. 27 (APP)- Pakistan will be aiming to change its fortunes when it goes head to head with Bangladesh in a two-Test series in Khulna from Tuesday.
 
Team Masood wins Swiss team bridge crown
KARACHI, Apr. 27 (APP)- Team Masood mustered 63.36 Victory Points (VPs) to take Karachi Bridge Association’s weekend Bridge Tournament here at Aslam Hall housed here at the National Stadium on Sunday night.
 
Ahmed Iqbal fails to find a place in Emerging Players
KARACHI, Apr. 27 (APP)- Talented Karachi and KPT all-rounder Ahmed Iqbal Khan failed to find a place among the 18 emerging players called by the selection committee for fitness test/trials at National Cricket Academy in Lahore on April 28.
 
Rashid victorious in Thailand
ISLAMABAD, Apr 26 (APP): Pakistan Davis Cup Captain Rashid Malik has added another feather to his cap by winning the 55+ Singles title of the ITF Seniors Pro Circuit, Grade 4 Tournament held at Thanyapura Sports and Leisure Club, Thailand.
 
Pak Army wins one day, T-20 cricket series against Australian Army cricket team
RAWALPINDI, April 25 (APP): Pak Army won the one day and T-20 cricket series against Australian Army cricket team.
 
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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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