Pak Revenuesubmitted by Pak_Revenue to u/Pak_Revenue [link] [comments]
The direction of the country’s economy needs to be corrected otherwise; the current economic condition may lead to great haram in the near future.
Chamber of Commerce and Industry (LCCI) Shahid Rasheed Butt said, “A 17% increase in revenue and enhanced forex reserves amid economic slowdown are surprising and indicate that country is not heading in the right direction.”
Despite the steady economic growth of the country, the revenue was still increasing due to the business community targeted to pay tax by the Federal Board of Revenue (FBR) officials.
Shahid Rasheed Butt informed that an ambitious revenue target set by the International Monetary Fund (IMF) couldn’t be met by the Federal Board of Revenue.
Due to the fragile economy, delayed refunds, and various other issues, exports in January recorded a reduction of 3.4% to $1.96 billion.
“Attracting foreign funds with high-interest rates can be repatriated any time that will unleash another crisis in Pakistan, therefore many economic exports are warning against this policy, Butt remarked.
President Pakistan Businessmen and Intellectuals Forum (PBIF), Mian Zahid Hussain indicated the crucial need for revising the IMF conditions. The strict IMF terms should not be a major vulnerability to the economy of the country, he added.
Although IMF program has diminished current account deficit and reinforced forex reserves yet, it has affected the growth rate, business, employment, and production. The IMF reports to increase taxes are practically disturbing, Zahid Hussain shared.
He noted that the growth rate has already been fallen to 60% to get $ 6 billion which resulted in unemployment and increased liquidation.
Mian Zahid Hussain further said, “After the IMF deal, Rupee saw record erosion in its value but it hasn’t helped to improve the exports as expected while the public debt rose to unsustainable levels.”
Forex traders can compare this to Singapore Industrial Production for July, which increased by 2.3% monthly, and which decreased by 7.6% annualized. US Preliminary Durable Goods Orders for August are predicted to increase by 1.5% monthly, and Durables Excluding Transportation are predicted to increase by 1.2% monthly. Forex.pk is neither a currency exchange company nor it is affiliated with any money exchange dealer so we doesn't offer any type of currency trading or money transfer facility. Forex.pk maintains accuracy by timely updating Pakistan Open Market dollar rates received from various authentic sources for the interest of public. Get Pakistan Open Market & Inter Bank forex rates. Get forex conversion rate from PKR to GBP, USD, Euro. Find Pak rupee exchange rate in Pound & US dollars. Read forex news & articles for forex trading. Forex is a dynamically developing financial market which is open 24 hours a day. Anyone can get access to this market via a brokerage company. On this forum you can discuss the numerous advantages of trading on the currency market and all aspects of online trading on MetaTrader4 or MetaTrader5 platforms. Pakistan Forex Forum Trading discussions Travel Forum ; Airlines ; Best of 2020 ; Road Trips ; Help Center ; Pak Forex Market, Xi'an: Hours, Address, Pak Forex Market Review: 2/5. Asia ; China ; Shaanxi ; Xi'an ; Things to Do in Xi'an ; Pak Forex Market; Search. COVID-19 Update: To limit the spread of the coronavirus, attractions may be closed or have partial closures. Please consult ...
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