Issue 92 Budget Study Centre May 13, 2021 CPDI BUDGET ReadWATCH More Remittances to India take a hit as migrant workers return from Gulf amid Covid-19 Deccanherald.com (May 13, 2021) With the return of migrant global economy since the remittance into India, the workers from the Gulf to India beginning of 2020, the inward largest recipient country in due to the spread of the remittances into India South Asia, stood at $83 devastating Covid-19 remained flat at $83 billion in billion.Much of the decline pandemic that impacted the 2020.In 2019, the inward was due to a drop..Read More Tesla's Elon Musk halts use of bitcoin for car purchases The Dawn (May 13, 2021) Tesla Inc will no longer accept concerns for a swift reversal decision to suspend its use, bitcoin for car purchases, in the company's position on less than two months after Chief Executive Elon Musk the cryptocurrency. Bitcoin Tesla began accepting the said on Wednesday, citing fell more than 10 per cent world's biggest … Read More long-brewing environmental after Musk tweeted his Pakistan’s exports to Saudi Arabia up by 3.57pc to $365m in 9 months The Nation (May 12, 2021) ISLAMABAD:- Pakistan’s months of financial year exports to Saudi Arabia were exports of goods and services (2020-21) compared to the recorded at $365.240 million to Saudi Arabia have corresponding period of last during July-March (2020-21) witnessed an increase of 3.57 year, State Bank of Pakistan against exports of $352.620 per cent during the first nine (SBP) reported. The overall million during ...... Read More Shaukat Tarin appointed to spur growth, check inflation: PM The Dawn (May 12, 2021) ISLAMABAD: While claiming appointment of Shaukat Tarin —Apka Wazeer-e-Azam Apke that the economy has been as finance minister is aimed at Saath— during which he took put on the right track, Prime controlling inflation and telephone calls from citizens, Minister Imran Khan on increasing economic growth the prime minister said key Tuesday said that the rate. In a live TV programme economic …. Read More Pakistan’s exports to US cross $4bn mark Business Recorder (May 11, 2021) Pakistan’s exports to the development was shared by United States continues to be United States exceeded the $4 Advisor to Prime Minister on an important market for us. billion mark during July-April Trade and Investment Abdul We are happy to share that 2021, showing a growth of an Razak Dawood on social our exports to the US during impressive 29 percent. The media on Tuesday. “The Jul-Apr 2021… Read More Exports to Afghanistan show 15pc growth in 10MFY21: Razak Profit.pakistantoday.com.pk (May 11, 2021) Pakistan’s exports to Adviser to the Prime Minister Commerce] is glad to share Afghanistan during July-April on Commerce, Textile, that Pakistan’s exports to 2021 have grown by 15 per Industry and Production Afghanistan during Jul-Apr cent to $869 million from Abdul Razak Dawood said on 2021 have grown by 15% to $754 million a year ago, Monday. “MOC [Ministry of USD 869 million … Read More Govt to announce new rules for meeting FATF demands Profitpakistantoday.com.pk (May 10, 2021) ISLAMABAD: Despite rationalisations and timely end of fiscal year 2023 against repeated tariff increases, subsidy payments over the about Rs2.55tr estimated at buying out several old next two years, the power present. But not doing these independent power plants sector circular debt would ‘surgical actions’ is not an (IPPs), fuel conversions, tax stay above Rs1.1 trillion by option … Read More Egyptian electrical giant acquires Pakistani transformers manufacturer Business Recorder (May 10, 2021) Elsewedy Electric, an electric power transformers percent of Validus Egyptian multinational company. In a statement to Engineering PVT LTD, a electrical company has the Egyptian Stock Exchange company that manufactures entered the Asian market with (EGX), Elsewedy informed electric power transformers the acquisition of a Pakistani that it has acquired 100 in Pakistan, .… Read More Services trade deficit shrinks 52.37pc in 3 quarters Dunyanews.tv (May 09, 2021) ISLAMABAD: - The country s (2020-21) as compared to the $1362.53 million against the services trade deficit corresponding period of last deficit of $2860.59 million in contracted by 52.37 percent year. The services trade July-March (2019-20), during the first three quarters deficit during July-March according to the ... Read More of the current financial year (2020-21) was recorded at Pakistan seeks more trade with Central Asia in diversity push Bnnbloomberg.ca (May 09, 2021) (Bloomberg) -- Pakistan is beyond the top players, the Abdul Razak Dawood, the looking to intensify trade with nation’s trade adviser said. commerce adviser to Prime neighbor Afghanistan and The South Asian nation is Minister Imran Khan, said in countries in Central Asia, as it looking to finalize a new trade an interview in.... Read More looks to diversify commerce accord with Kabul by June, Rush seen in Pindi markets, bus terminals on eve of lockdown The Dawn (May 08, 2021) RAWALPINDI: As the Friday. Moreover, bus transport starts on Saturday. government has decided to terminals were also crowded “All bazaars and shopping close business activities from as many people left for their malls will remain closed from May 8 to 16, people thronged hometowns to celebrate the May 8 to 16 and we will bazaars for Eid shopping on Eid before the ban on public strictly… Read More Country needs 7 per cent economic growth to reduce debt, create jobs The Nation (May 08, 2021) LAHORE - The Federation of appreciating the positive need for reforms agenda to Pakistan Chambers of growth in large-scale achieve 7 per cent economic Commerce and Industry’s manufacturing (LSM) in first growth rate annually to create Businessmen Panel Chairman nine months of current fiscal two million jobs per annum Mian Anjum Nisar, year, has emphasised the and ...… Read More Pakistan asks IMF to cut FBR collection target to Rs5.5t amid coronavirus pandemic Geo.tv (May 07, 2021) ISLAMABAD: Pakistan has citing the third wave of the upcoming budget 2021-22 asked the IMF for a cut in coronavirus pandemic as a against a downward revised FBR’s collection target from reason. The IMF had given the target of Rs4,691 billion for Rs5.9 trillion to Rs5.5 trillion FBR the tax collection target the outgoing fiscal year in its for the upcoming budget, of Rs5,963 billion for the latest…. Read More United States, Pakistan launch pilot project to increase regional trade Dunyanews.tv (May 07, 2021) KARACHI:- The United States Pakistan that is compliant transit system that facilitates Government, along with the with the United Nations’ trade by expediting border Government of Pakistan, “Transports Internationaux checks between countries. launched the first Routiers” (TIR) Convention, The United States Agency for international shipment from an international customs International … Read More NCCPL releases investor data Profitpakistantoday.com.pk (May 06, 2021) For the first time in decades, a the bourse stood at 252,322 investors, including 12,356 concerned company of the by the end of April 2021, foreign individuals, accounts Pakistan Stock Exchange suggesting the for around 0.12 per cent of the (PSX) has reported that the comprehensiveness of the population of Pakistan total number of investors at market. The total number of compared to..... Read More Pakistan Returns $1 Billion in Commercial Loans: SBP Bol News (May 06, 2021) The State Bank of Pakistan to the details, the SBP said reserves have fallen from 16 (SBP) has said that the that the reserves of the central 16.42 billion to $15.59 billion. government of Pakistan has bank have been significantly The SBP also said that the returned $1 billion in reduced by $830 million. The reserves of commercial… commercial loans. According SBP says its central bank Read More Agriculture is among top govt priorities, says PM Profit.pakistantoday.com.pk (May 05, 2021) ISLAMABAD: Prime Minister prosperity, the agriculture Coordination Committee Imran Khan has said keeping sector development is among (NCC) on Agriculture here on in view the vital role of the top priorities of the Tuesday, the prime minister agriculture in the country’s government. While presiding said the agriculture ….. Read development and farmers’ over a meeting of the National More 31 families control KSE-100 The News (May 05, 2021) ISLAMABAD: There are 31 wealthy families had gone up former Deputy Chairman families in Pakistan from 22 to 31 since the Planning Commission and dominating Pakistan’s stock country’s independence. It Vice-Chancellor PIDE Dr. market, indicating the was the crux of the highly Nadeem Ul Haq and Amin number of influential and important research paper by Hussain. The … Read More Over Rs4bn received by freelancers from abroad since January 2020 The Dawn (May 04, 2021) ISLAMABAD: The country’s Covid-19 pandemic, said media talk, he said, “Freelance freelancers have received Ghazanfar Azzam, president work by IT professionals more than Rs4 billion since and CEO, Mobilink increased under the January 2020 using a tech- Microfinance Bank, on circumstances but they were based solution amid the Monday. Sharing details at a facing ...Read More Govt to collaborate with int’l partners for HR development, socio-economic uplift Profitpakistan.com.pk (May 04, 2021) ISLAMABAD:The government human resource development Revenue Shaukat Tarin and will make all necessary and socio-economic uplift of Federal Minister for Economic interventions in collaboration the nation. Affairs Division Omar Ayub with international This was agreed on by Federal Khan during a meeting at the development partners for Minister for Finance and … Read More Shaukat Tarin discusses budget with businessmen The Nation (May 03, 2021) KARACHI:-Federal Minister preparation process to Chambers of Commerce and for Finance, Shaukat Fayyaz achieve goals of sustainable Industry (FPCCI) the finance Ahmed Tarin assured development and inclusive minister, appreciated budget consultation with all growth.