October 25th, 2008 by The Online Reporter
Asif Ali Zardari addressed that “Governor State bank of Pakistan Dr. Shamshad Akhtar will be soon restored” during his meeting with a delegation of industrialists and businessmen. New governor will take charge on 15 November.
The meeting was attended by Board of Investment Chairman Saleem U. Mandviwala, Secretary Commerce Syed Asif Shah, Revenue Division Chairman Shahab Khawaja, Additional Finance Secretary Mohammad Ayub Tareen, S.M. Munir, Haji Masood, Khalid Tawab, Zahid Hussain, A. Haseeb Khan, Masood Naqi, Yahyha Polaki, Majid Aziz, Arshad Farooque, Fazal Jalil, Capt (retd) Moiz and Parwaiz Sohail.
October 25th, 2008 by The Online Reporter
International economic crisis finally starts affecting Indian rupee because Indian rupee has fall to record level of 50.15 per dollar on Friday October 24 2008.
Commerce minister Kamal Nath said, “The rupee slide is an aberration. It is arising out of dollar flows out of India. The rupee will find its level in due course.” A senior banker said as Americans are buying dollar to meet their cash requirements at home during present crisis, dollar has appreciated against most of the currencies world over.
October 23rd, 2008 by The Online Reporter
Dominique Strauss-Kahn, Managing Director of the IMF addressed that Pakistan has made a formal request to the International Monetary Fund for cash assistance to help it overcome the current economic crisis, but on the other side financial advisor to the Prime Minister Shaukat Tarin told a press conference that “We have not formally requested the board of IMF for a facility as of now”.
Pakistan needs $3.5 to $4.5 billion in foreign exchange over the next 30 days to over-come this economic crisis. Governor State Bank Dr. Shamshad Akhtar has left for Dubai where she will have a meeting with IMF authorities.
October 11th, 2008 by The Online Reporter
Iran foreign minister Manouchehr Mutaqi meets Pakistan president and prime minister and the outcome of those meetings was that finally Iran agrees to provide 1000 megawatt electricity and oil to Pakistan at easy installments.
This contract will really help government of Pakistan to overcome the current power crisis. Prime Minister Yousaf Raza Gillani stated that joint financing company will be formed for gas pipe line project and we want to start this mega project as soon as possible, he further said that India could also join whenever they want.
October 10th, 2008 by The Online Reporter
This newspaper cartoon is pointing out the falling economy of Pakistan, but one should keep it in mind that this economic crises is global and almost every country is facing such problems, government of Pakistan should make right moves to prevent their voters and public from poverty and hunger as they had been elected by the public votes, now its time to do something practically for a common man rather then making decisions in air-conditioned rooms.
