Inflation has influenced Prime Minister Imran Khan to reduce prices of petroleum products in a wide-ranging address to the nation on Monday, surprising many as it comes after oil crossed $100 a barrel last week.
Economy
Sharing details of the package, the premier said that the growth of small and medium industries have been focused on, for which the government has introduced a policy and is creating facilities for the sector’s growth.
Prime Minister Imran Khan shared some key points of this amnesty scheme with business persons and investors in Lahore today.
The defence minister discounted the threat to the PTI government and the prime minster, saying the opposition parties were destined for a crushing defeat and the long march will fail to dislodge the government.
Sharp increase in the current account deficit in January-2022 negates the government and the SBP forecasts of reduction in CAD from Jan-June 2022.
Analysts said the stock markets have become vulnerable in this scenario because the western countries are imposing sanctions on Russia while crude oil price is escalating to around $100/barrel amid full-scale war fears.
“The rupee wins for a small period versus the dollar, but most of the time the US currency remains dominant”
Bank of Punjab and Standard Chartered Bank profits indicating robust banking in Pakistan