Major oil producers are expected to adhere to their scheduled output goal rise of approximately 432,000 bpd,
Economy
Governor SBP said that this initiative will broaden investment avenues in the stock market in the country.
The “early warning” measure, the first of three alarm levels under the government’s emergency gas plan, was “preventative” and intended to assure supply of the fuel, said Habeck, who is also energy minister and vice chancellor.
“You import more and export less, even though my government in collaboration with your government is trying to narrow down the trade deficit. We want to see balanced trade,” he said.
Pakistan has urged China to increase the size of the currency swap facility from $4.5 billion to $10 billion – an additional borrowing of $5.5 billion.
Despite a sharp decline in the current account deficit, to $0.50 billion in Feb-2022 against $2.56 billion in Jan-2022, the value of dollar increased further in the inter-bank and open market amid growing political uncertainty in the country.
Trade deficit has increased alarmingly, to $29.87 billion in eight months of the ongoing financial year in comparison with $17.31 billion trade deficit in the same period in last financial year. Thus, more than $12 billion growth in the trade deficit has expanded the current account deficit in the first eight months of 2021-22.
Textiles, edible oil companies and oil refineries borrowed heavily for working capital, partly due to higher imported input costs. For export-oriented industries like textiles, the Export Finance Scheme and the Long-Term Financing Facility, along with continued disbursements under the Temporary Economic Refinance Facility, allowed them to borrow at concessional rates for working capital and fixed investment purposes