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Financing private sector growth

Financing private sector growth ISLAMABAD: Over the last two decades, Pakistani banks have experienced structural reforms and a phenomenal growth. Their profitability has multiplied several times and they have played an important role in job creation as well. But it remains debatable whether the privatisation of banks has contributed meaningfully to financing the private-sector growth. In this backdrop and in light of a new study by PRIME, this article assesses the trend of banking credit for the government and private sector in the post-reform period. In the 1990s, banking reforms were introduced to reduce government’s footprint in the industry, increase private sector credit, minimise the ratio of non-performing loans, and improve banks’ efficiency and profitability.

Pro-growth, pro-poor and pro-investment budget

Failure of reforms can lead to IMF programme suspension: Dr Hafiz A Pasha

National May 8, 2021 ISLAMABAD: Former minister for finance Dr Hafiz A Pasha has warned that the IMF programme could land into suspension mode if Pakistan showed its inability to undertake structural reforms and tough conditionalities in the wake of the third wave of Covid-19 pandemic. He also said that Pakistan should reduce the power tariff for industrial sector instead of hiking the tariff on the IMF demand in order to generate increased requirement for electricity “Pakistan will have to manage $40 billion debt obligations for repayment over the next three years and the financing of multilateral donors may dry up after suspension of the Fund-sponsored program. As a result of PM’s visit, Saudi Arabia may resume oil facility on deferred payment but it is unlikely that they will provide major financing requirement keeping in view their own increased budget deficit,” former minister for finance Dr Hafiz A Pasha said in a pre-budget 2021-22 webinar organized by the Pakistan I

Failure of reforms could lead to IMF programme suspension: Pasha

National May 8, 2021 ISLAMABAD: Former minister for finance Dr Hafiz A Pasha has warned that the IMF programme could land into suspension mode if Pakistan showed its inability to undertake structural reforms and tough conditionalities in the wake of the third wave of Covid-19 pandemic. He also said that Pakistan should reduce the power tariff for industrial sector instead of hiking the tariff on the IMF demand in order to generate increased requirement for electricity “Pakistan will have to manage $40 billion debt obligations for repayment over the next three years and the financing of multilateral donors may dry up after suspension of the Fund-sponsored program. As a result of PM’s visit, Saudi Arabia may resume oil facility on deferred payment but it is unlikely that they will provide major financing requirement keeping in view their own increased budget deficit,” former minister for finance Dr Hafiz A Pasha said in a pre-budget 2021-22 webinar organized by the Pakistan I

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