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Saudi Oil Facility Cement Exports Finance Secretary Chairman BOI Resign Pak Rupee Dada Pota Show 24-05-2019

Dada Pota Show of 24-05-2019. The only program of business and political economy in Pakistan.

Saudi Oil Facility Cement Exports Finance Secretary Chairman BOI Resign Pak Rupee Dada Pota Show 24-05-2019

Dada Pota Show 24-05-2019 based on Saudi Oil Facility Cement Exports Finance Secretary Chairman BOI Resign Pak Rupee.

Today, Dada G shared his opinion on important news that Saudi Arabia to activate $3.2 billion deferred payment facility for oil from July.

 

The Kingdom of Saudi Arabia (KSA) will extend a $3.2 billion deferred payment facility with Pakistan for petroleum products from the start of July, the PM’s Adviser on Finance Dr Abdul Hafeez Shaikh said on Wednesday.

The facility will be worth $275 million per month and will amount to $3.2bn per year for a period of three years, the finance adviser said. In a message posted on social media website Twitter, Dr Hafeez Shaikh thank the Crown Prince of Saudi Arabia for his continuous support for the people of Pakistan. He said the facility would help strengthen Pakistan’s balance of payments position as the country battles a current account crisis.

By & large, Dada G & Pota G presented a very good show. We received huge feedback in the form of SMS & facebook posts. If you missed today’s Dada Pota Show, there is no need to worry because you are just a click away. You can download and listen it now. “Dada Pota” show on-air at www.dadapota.pk.

Crude Oil Imports Remittance Indian Conspiracy IT Sector Food Imports Dada Pota Show 23-05-2019

Dada Pota Show of 23-05-2019. The only program of business and political economy in Pakistan.

Crude Oil Imports Remittance Indian Conspiracy IT Sector Food Imports Dada Pota Show 23-05-2019

Dada Pota Show 23-05-2019 based on Crude Oil Imports Remittance Indian Conspiracy IT Sector Food Imports.

Today, Dada G shared his opinion on important news that Overseas Pakistanis remit US $17.9 billion in the first ten months of FY19.

Overseas Pakistani workers remitted US $17,875.23 million in the first ten months (July to April) of FY19, showing a growth of 8.45% compared with US $16,481.82 million received during the same period in the preceding year.

During April 2019, the inflow of worker’s remittances amounted to US $1,778.90 million, which is 2% higher than March 2019 and 6% higher than April 2018.

The country wise details for the month of April 2019 show that inflows from Saudi Arabia, UAE, USA, UK, GCC countries (including Bahrain, Kuwait, Qatar and Oman) and EU countries amounted to US $427.82 million, US $372.43 million, US $269.56 million, US $280.02 million, US $175.44 million and US $48.19 million respectively compared with the inflow of US $399.56 million, US $362.40 million, US $250.91 million, US $245.85 million, US $167.68 million and US $54.75 million respectively in April 2018. Remittances received from Malaysia, Norway, Switzerland, Australia, Canada, Japan and other countries during April 2019 amounted to US $205.43 million together as against US $197.72 million received in April 2018.

By & large, Dada G & Pota G presented a very good show. We received huge feedback in the form of SMS & facebook posts. If you missed today’s Dada Pota Show, there is no need to worry because you are just a click away. You can download and listen it now. “Dada Pota” show on-air at www.dadapota.pk.

SBP Monetary Policy Interest Rate External Debt 35 Trillion Inflation Dada Pota Show 22-05-2019

Dada Pota Show of 22-05-2019. The only program of business and political economy in Pakistan.

SBP Monetary Policy Interest Rate External Debt 35 Trillion Inflation Dada Pota Show 22-05-2019

Dada Pota Show 22-05-2019 based on SBP Monetary Policy Interest Rate External Debt 35 Trillion Inflation.

Today, Dada G shared his opinion on important news that SBP announces monetary policy, increases interest rate to 12.25pc.

The State Bank of Pakistan (SBP) on Monday announced its monetary policy, increasing its benchmark interest rate by 150 basis points (bps) to 12.25 per cent, effective from May 21. “The monetary policy committee [of the SBP] noted that further policy measures are required to address underlying inflationary pressures from higher recent month-on-month headline and core inflation outturns, recent exchange rate depreciation, an elevated fiscal deficit and its increased monetisation, and potential adjustments in utility tariffs,” read an SBP statement.

The bank’s estimates showed that economic growth was expected to slow in Fiscal Year 19 but rise modestly in Fiscal Year 20. “This slowdown is mostly due to lower growth in agriculture and industry. More than two-thirds of real GDP growth in FY19 is expected to come from services.”

Talking about the external front, the SBP policy report mentioned that the current account deficit narrowed to $9.6 billion in Jul-Mar FY19 as compared to a deficit of $13.6bn during the same period last year, a fall of 29pc. “The reduction is mainly driven by import compression and a healthy growth in workers’ remittances.

This impact was partially offset by higher international oil prices,” it added. According to the policy report, the non-oil trade deficit declined from $13.7b in Jul-Mar FY18 to $11b in Jul-Mar FY19. “Recent indicators suggest export volumes have begun to grow although total export receipts have not grown due to unfavorable prices.” It said that foreign reserves declined to $8.8b as of May 10 from $10.5b at end-March 2019.

“The exchange rate also came under pressure in the last few days. In SBP’s view, the recent movement in the exchange rate reflects the continuing resolution of accumulated imbalances of the past and some role of supply and demand factors.”

The SBP said that it will continue to closely monitor the situation and stands ready to take measures, as needed, to address any unwarranted volatility in the foreign exchange market. The top bank noted that the current level of foreign reserves was below standard adequacy levels and sufficient for only three months of imports cover.

The SBP report mentioned that the overall fiscal deficit was likely to be considerably higher during Jul-Mar FY19 as compared to the same period last year due to a shortfall in revenue collection, higher than budgeted interest payments and security related expenditures.

“From a monetary policy perspective, a growing portion of the fiscal deficit has been financed through borrowings from SBP. In absolute terms, the government borrowed Rs4.8 trillion from the central during Jul 1 to May 10 period of the FY19, which is 2.4 times the borrowing during the same period last year.”

A major portion of the borrowing from the SBP (Rs3.7tr) reflects a shift away from commercial banks which were reluctant to lend to the government at prevailing rates. The resulting increase in monetisation of the deficit has added to inflationary pressures. The report mentioned that the consumer price index (CPI) rose by 9.4pc in March and 8.8pc in April, on a year-on-year basis.

Average headline CPI inflation reached 7pc in Jul-Apr FY19 compared to 3.8pc in the same period last year. It added that the annualised headline month-on-month inflation has risen considerably in the last three months due to the recent hike in domestic fuel prices and rising food prices and input costs.

“As such, inflationary pressures are likely to continue for some.” Earlier this month, Dr Reza Baqir, a long-time economist with the International Monetary Fund (IMF), was appointed the governor of the State Bank of Pakistan (SBP) for a period of three years. The senior economist of Pakistani origin replaced Tariq Bajwa, who was unexpectedly removed from the post. By & large,

Dada G & Pota G presented a very good show. We received huge feedback in the form of SMS & facebook posts. If you missed today’s Dada Pota Show, there is no need to worry because you are just a click away. You can download and listen it now. “Dada Pota” show on-air at www.dadapota.pk.

US Iran Tension Donald Trump Tweet Saudi Funding External Debt Tax Salaried Class Dada Pota Show 21-05-2019

Dada Pota Show of 21-05-2019. The only program of business and political economy in Pakistan.

US Iran Tension Donald Trump Tweet Saudi Funding External Debt Tax Salaried Class Dada Pota Show 21-05-2019

Dada Pota Show 21-05-2019 based on US Iran Tension Donald Trump Tweet Saudi Funding External Debt Tax Salaried Class.

Today, Dada G shared his opinion on important news that Tax relief for salaried class likely to be withdrawn.

The government may withdraw income tax concessions granted to the salaried individuals in the upcoming budget as the collection from the head sharply fell in the first nine months of the current fiscal year with revenue mobilisation pressure building up ahead of $6 billion IMF bailout deal, sources said on Saturday.

In April last year, the government allowed concessions to salaried individuals falling under slabs of Rs800,000 and Rs1.2 million, through Income Tax (Amendment) Ordinance 2018. The new rates were announced to be applicable from July 1, 2018. That was a major relief for the salaried class by the previous Pakistan Muslim League-Nawaz with the tax threshold having increased to Rs1.2 million from Rs400,000.

A nominal tax amount of Rs1,000 per year was however levied on salaried individuals deriving annual income between Rs400,000 to Rs800,000 and Rs2,000/year for individuals having annual income between Rs800,000 and Rs1.2 million in order to encourage filing of returns. Number of return filers is lurking below two million. The break-up of revenue collection from salaried individuals showed that the income tax collection from the federal government employees sharply fell 60 percent to Rs4.17 billion in the July-March period.

By & large, Dada G & Pota G presented a very good show. We received huge feedback in the form of SMS & facebook posts. If you missed today’s Dada Pota Show, there is no need to worry because you are just a click away. You can download and listen it now. “Dada Pota” show on-air at www.dadapota.pk.