Bleak expectations
Article Abstract:
Pakistan's overall economy remains troubled despite an anticipated record cotton crop of more than 13 million bales. Inflation has risen to 22%-24%, by private estimates, and while exports in July and Aug, 1995 fell 4.5% from the year before, imports rose 17.9%, widening the trade deficit. By Sept the govt had exceeded its borrowing target for the entire year that started July 1. Violence and infrastructure problems in the export engine of Karachi have sent small businesses fleeing, and strikes have closed it frequently.
Publication Name: Far Eastern Economic Review
Subject: Business, international
ISSN: 0014-7591
Year: 1995
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Costly retreat
Article Abstract:
Pakistan's Prime Minister, Nawaz Sharif, has agreed to the Supreme Court Chief Justice's demands for a larger Supreme Court after President Farooq Leghari and the chief of the army sided with the Chief Justice. This has raised questions about the stability of the government and Sharif's ability to resolve Pakistan's economic problems. Influential leaders of banking institutions have criticized Sharif for his actions and have forecast that the economy will be in crisis unless he gains control of the situation.
Publication Name: Far Eastern Economic Review
Subject: Business, international
ISSN: 0014-7591
Year: 1997
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In the trenches: Pakistan's Sharif wants a war on debt; but does he have the weapons?
Article Abstract:
Pakistan's prime minister Nawaz Sharif is calling for a war on debt. Islamabad has to repay $1.6 billion in interest to foreign creditors and its foreign-exchange reserves are at only $770 million. Sharif's measures include eliminating certain privileges enjoyed by politicians and bureaucrats to cut government spending. He has also called on Pakistani expatriates to place money in special savings schemes. The IMF has been reassured by Sharif's economic agenda which will run parallel the IMF specified agenda.
Publication Name: Far Eastern Economic Review
Subject: Business, international
ISSN: 0014-7591
Year: 1997
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