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Shabbir H. kazmi

Pakistan Day: time to reckon

Pakistan Day: time to reckon

Pakistan Day is celebrated with great fervor every year, but this year the circumstances are very different. People are living under extreme fear due to coronavirus pandemic, not only in Pakistan but around the world. The death of dozens of people from the pandemic, reminds us hundreds and thousands of people, who were assassinated after the partition of subcontinent. This also reminds the helplessness and the difficult administrative and financial conditions prevailing at …

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SBP reduces policy rate: too little too late

SBP reduces policy rate- too little too late

At its meeting on 17th March 2020, the State Bank of Pakistan’s Monetary Policy Committee (MPC) decided to cut the policy rate by 75 bps to 12.50 percent. The decision reflected the MPC’s view that the outlook for inflation has improved in light of the recent deceleration in domestic food prices, significant decline in consumer price expectations, sharp fall in global oil prices, and slowdown in external and domestic demand due to …

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Falling oil prices, biggest threat to US shale producers

Falling oil prices, biggest threat to US shale producers

The week ended on 13th March 2020 can be termed one of horrific weeks for crude oil producers and traders as prices went down about 50 percent since the start of the year. Oil rebounded a bit on Friday following movement in the US Congress to pass a coronavirus economic relief bill. Nevertheless, the near-term looks dire for oil markets, with supply rising quickly as demand continues to collapse. The added threat is likely …

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State bank of Pakistan must follow the US fed

State bank of Pakistan must follow the US fed

Federal Reserve of United States has cut rate in an emergency that has created opportunity for other central banks around the globe to cut rate, especially for those who held off so far out due to domestic and external concerns. It is expected that State Bank of Pakistan (SBP) will also follow the suite. However, many analysts expect the SBP to and opt for status quo in the upcoming monetary policy announcement. There are …

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Will OPEC plus opt for deeper oil cut?

Will OPEC plus opt for deeper oil cut

Members of Organization of Petroleum Exporting Countries (OPEC) are scheduled to meet in Vienna in first week of March 2020. Top of the agenda item is to decide production quotas in the aftermath of coronavirus spread. To arrive at further production cut will not be easy because of United States emerging as one of the largest oil producing country as well as exporting substantial quantity. Even the bigger concern is …

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Need to end Saudi-Iran animosity

Need to end Saudi-Iran animosity

One completely fails to understand why even a thought of ending Saudi-Iranian animosity make the supporters of monarch jittery. If one could recollect lately Iraq made an attempt to ease tension between the two arc enemies, but turmoil was created in Iraq. Soon after two top military strategist, one each from Iran and Iraq were killed, the probability of war in the region increased manifold. Recently, Iranian Foreign Minister Mohammad …

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Pakistan ignoring driving engine of economy

  Economic analysts are clearly divided into two distinct groups, one that believes small and medium enterprises (SMEs) are the real driver of economy and another that believes that conglomerates are the real creators of value. Some management gurus believe it is only the perception but both are so minutely intermingled that one just can’t survive without other. They also believe that better these enterprises understand needs of each other …

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Achieving food security

  The successive governments in Pakistan have been focusing on industrial sector and ignoring agriculture. The focus remained on import substitution rather than exploiting comparative advantage. This is evident from the fact that crop yields in Pakistan are lowest, even below those achieved in India. Both the countries enjoy similar land and climatic conditions but India has been focusing more on improving yield and has been successful to a large …

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Difficult act of balancing

  The current financial year (2012-13) is likely to close on a pessimistic note with: 1) looming balance of payments crisis, high budget deficit, exports proving dismal for financing imports but above all country continue to suffer from ‘trust deficit’. The conditions are marred by general elections for the time being because the caretaker government has no mandate to take some crucial decisions, including finalizing terms and conditions for the …

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Five factors to mar gdp growth

  Pakistan is not likely to achieve more than 3 percent GDP growth during the current financial year. Economic growth of next financial year is also be marred because of formation of the new elected government and coming up with appropriate policies to turn around the economy. The issue of potential default has been overcome with the commitment of the IMF to provide US$5 billion under Extended Financial facility (EFF). …

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