ahlam1399
08-29-2017, 09:06 AM
https://www.thenews.com.pk/assets/uploads/akhbar/2017-08-29/l_226751_050153_print.jpg ISLAMABAD: Prime Minister Shahid Khaqan Abbasi said on Monday that the ouster of Nawaz Sharif from premiership had affected the business environment in the country. He made it clear that the Afghanistan war could not be brought to the Pakistani soil and there should be a political solution to the imbroglio. He said that US President Donald Trump’s policy on Afghanistan had met a miserable failure.
He expressed these views during an interview with Bloomberg news agency.Bloomberg said, “His economic task has cut out. Twin deficits are depleting the nation’s foreign exchange reserves and constraining credit ratings, stoking speculation that he will opt for devaluing the rupee to spur inflows.”
That won’t happen, Abbasi said and added that the government was instead looking to curb imports through tariffs and help boost local production.“Devaluation is our option, theoretically, even though it should incentivise exports but in reality it doesn’t,” Abbasi said. “So at this moment as I said devaluation is not on the table.”
Pakistan’s current account gap more than doubled to $12.1 billion in the year ended June while its trade deficit surged to a record $33 billion as imports climbed. The nation’s reserves have plummeted by a quarter to $14.3 billion since reaching a peak in October, while the rupee remained stable. As a share of the economy, the nation’s 2.9 percent projected current account gap compared with 1.5 percent in India and 1.9 percent in Indonesia, according to International Monetary Fund estimates.
Political turmoil, twin deficits and falling reserves had heightened speculation the government would mark down its currency, giving investors another reason to stay away from the world’s newest emerging market. Abbasi said his government would focus on cutting “unnecessary” imports.
He said that the projects would continue as planned and growth target would be met.He said that the government would not seek another IMF bailout package and was poised to introduce “radical” tax reform, he said.
Meanwhile, Prime Minister Shahid Khaqan Abbasi told the world that Pakistan had suffered enormously on account of the situation in Afghanistan and for the reason it had the greatest stake in that country’s return to normalcy and peace.He said this while talking to British High Commissioner Thomas Drew here at the Prime Minister Office (PMO).
The meeting is believed to be significant in the backdrop of standoff like situation between Pakistan and the United States on account of US President Donald Trump’s recent allegations and insinuations about Pakistan. Britishers are traditionally an ally of the US and understand the rage prevailing in Pakistan about the assertions of the US president.
Prime Minister Abbasi made it clear to the British envoy that Pakistan wanted peace and stability in Afghanistan. He said, “Our commitment to peace and stability in the region was underscored by the fact that Pakistan had continued a successful campaign against terrorism inside the country and made enormous sacrifices.” He said Pakistan had suffered immensely due to the situation in Afghanistan and, therefore, we had the greatest stake in that country’s return to normalcy.
The British high commissioner congratulated Prime Minister Abbasi on his assumption of office. He conveyed the greetings of British Prime Minister Theresa May and underscored that in the UK Pakistan had a great friend. Prime Minister Theresa May also knew Pakistan well and had visited Pakistan three times in her ministerial capacity earlier.
The prime minister thanked the high commissioner for the message from Prime Minister Theresa May. The premier and high commissioner discussed the regional situation, Afghanistan, enhancing bilateral trade and the significant role of Pakistani community in the UK.
The high commissioner underscored the importance of trade with Pakistan and informed the prime minister that the new British Trade Minister, Greg Hands, will visit Pakistan in the coming months.
The intention was that after the Brexit, trade should increase with Pakistan. He added that UK was committed to supporting Pakistan in its efforts for a peaceful and stable region. He recognised the sacrifices made by Pakistani law enforcement agencies and the military. The operations carried out by Pakistan had helped in cleaning up large parts of tribal areas of terrorists and terrorist networks.
http://feeds.feedburner.com/~r/com/cwEr/~4/URZ5XE5tI50
أكثر... (http://feedproxy.google.com/~r/com/cwEr/~3/URZ5XE5tI50/226751-Nawazs-ouster-has-affected-business-PM)
He expressed these views during an interview with Bloomberg news agency.Bloomberg said, “His economic task has cut out. Twin deficits are depleting the nation’s foreign exchange reserves and constraining credit ratings, stoking speculation that he will opt for devaluing the rupee to spur inflows.”
That won’t happen, Abbasi said and added that the government was instead looking to curb imports through tariffs and help boost local production.“Devaluation is our option, theoretically, even though it should incentivise exports but in reality it doesn’t,” Abbasi said. “So at this moment as I said devaluation is not on the table.”
Pakistan’s current account gap more than doubled to $12.1 billion in the year ended June while its trade deficit surged to a record $33 billion as imports climbed. The nation’s reserves have plummeted by a quarter to $14.3 billion since reaching a peak in October, while the rupee remained stable. As a share of the economy, the nation’s 2.9 percent projected current account gap compared with 1.5 percent in India and 1.9 percent in Indonesia, according to International Monetary Fund estimates.
Political turmoil, twin deficits and falling reserves had heightened speculation the government would mark down its currency, giving investors another reason to stay away from the world’s newest emerging market. Abbasi said his government would focus on cutting “unnecessary” imports.
He said that the projects would continue as planned and growth target would be met.He said that the government would not seek another IMF bailout package and was poised to introduce “radical” tax reform, he said.
Meanwhile, Prime Minister Shahid Khaqan Abbasi told the world that Pakistan had suffered enormously on account of the situation in Afghanistan and for the reason it had the greatest stake in that country’s return to normalcy and peace.He said this while talking to British High Commissioner Thomas Drew here at the Prime Minister Office (PMO).
The meeting is believed to be significant in the backdrop of standoff like situation between Pakistan and the United States on account of US President Donald Trump’s recent allegations and insinuations about Pakistan. Britishers are traditionally an ally of the US and understand the rage prevailing in Pakistan about the assertions of the US president.
Prime Minister Abbasi made it clear to the British envoy that Pakistan wanted peace and stability in Afghanistan. He said, “Our commitment to peace and stability in the region was underscored by the fact that Pakistan had continued a successful campaign against terrorism inside the country and made enormous sacrifices.” He said Pakistan had suffered immensely due to the situation in Afghanistan and, therefore, we had the greatest stake in that country’s return to normalcy.
The British high commissioner congratulated Prime Minister Abbasi on his assumption of office. He conveyed the greetings of British Prime Minister Theresa May and underscored that in the UK Pakistan had a great friend. Prime Minister Theresa May also knew Pakistan well and had visited Pakistan three times in her ministerial capacity earlier.
The prime minister thanked the high commissioner for the message from Prime Minister Theresa May. The premier and high commissioner discussed the regional situation, Afghanistan, enhancing bilateral trade and the significant role of Pakistani community in the UK.
The high commissioner underscored the importance of trade with Pakistan and informed the prime minister that the new British Trade Minister, Greg Hands, will visit Pakistan in the coming months.
The intention was that after the Brexit, trade should increase with Pakistan. He added that UK was committed to supporting Pakistan in its efforts for a peaceful and stable region. He recognised the sacrifices made by Pakistani law enforcement agencies and the military. The operations carried out by Pakistan had helped in cleaning up large parts of tribal areas of terrorists and terrorist networks.
http://feeds.feedburner.com/~r/com/cwEr/~4/URZ5XE5tI50
أكثر... (http://feedproxy.google.com/~r/com/cwEr/~3/URZ5XE5tI50/226751-Nawazs-ouster-has-affected-business-PM)