Sunday, February 20, 2011

Small current account deficit in Pakistan and Rs. 3 billion given to poor families in Balochistan

On February 18, 2011, the State Bank of Pakistan (SBP) reported that current account deficit from July to January of 2010-2011 fiscal year stood at $81 million just 2.6 percent of $3.052 billion deficit in the same period last fiscal year.

The small deficit resulted from higher exports and lower import and record amount of foreign remittances sent by Pakistanis workers. The country also has a record amount of foreign reserve- $17.4 billion, shows that it is heading towards economic recovery.

In addition, for the last twelve months the rupee-dollar exchange rate remained pretty stable. A 24 percent growth in textile export, better wheat harvest are all indicating that Pakistan is gradually moving towards economic recovery.

Under the Balochistan Income Support program about Rs. 3 billion has been distributed among the poor families in Balochistan. BISP director general of Balochistan, Sohail Qadeer Sidique, said that about 2,50,000 people in the province do not have computerized national identity cards and it is hampering the delivery. According to the survey of BISP, around 50,000 families in Balochistan, do not have CNIC.

Related articles:

Daily Times

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