Tag: shukat tarin

  • Pak ‘least costly’ country claims Shaukat Tarin, website he refers to says cost of living is 171 thousand rupees per month

    Pak ‘least costly’ country claims Shaukat Tarin, website he refers to says cost of living is 171 thousand rupees per month

    Finance Minister Shaukat Tarin, while sharing a table with the title “The Cost of Living Index by Country 2021 Mid-Year”, has claimed that Pakistan is the “least costly” country across the globe.

    In the chart, Pakistan has been ranked on 139th number among 139 countries with only 21.88 cost of living. The table Tarin shared was taken from the website NUMBEO.

    https://twitter.com/shaukat_tarin/status/1495274739991867401?ref_src=twsrc%5Etfw%7Ctwcamp%5Etweetembed%7Ctwterm%5E1495274739991867401%7Ctwgr%5E%7Ctwcon%5Es1_&ref_url=https%3A%2F%2Ftribune.com.pk%2Fstory%2F2344435%2Fpakistan-cheapest-country-says-tarin

    However, according to the website, this is the summary of Pakistan. The ranking comes with comparison to other countries.

    • Family of four estimated monthly costs are 171,936.39Rs. without rent.
    • A single person estimated monthly costs are 51,837.84Rs. without rent.
    • The cost of living in Pakistan is, on average, 71.36% lower than in the United States.
    • Rent in Pakistan is, on average, 90.59% lower than in the United States.

    Last month, the Quarterly Performance Evaluation Survey (QPES), a Pulse Consultant’s indigenous tracking tool of public perceptions and opinions about the government’s performance and current political situation, stated that 84 per cent of Pakistanis consider inflation as the biggest problem of the country.

  • IMF, Pakistan reach staff-level agreement on policies and reforms

    IMF, Pakistan reach staff-level agreement on policies and reforms

    The International Monetary Fund (IMF) and Pakistan reached a staff-level agreement on policies and reforms needed to complete the sixth review under the $6 billion Extended Fund Facility (EFF), which has been ‘in recess’ since April, the Fund announced in a statement on Monday.

    The agreement is subject to approval by the Executive Board, following the implementation of prior actions, notably on fiscal and institutional reforms. The approval of the agreement will make available 750 million in Special Drawing Rights (SDR), equivalent to $1,059m, read the statement.

    The Fund acknowledged Pakistan’s progress in improving its anti-money laundering and combatting the financing of terrorism (AML/CFT) regime. However, additional time was needed to strengthen its effectiveness, according to the statement.

    “Available data suggest that a strong economic recovery has gained hold, benefiting from the authorities’ multifaceted policy response to the Covid-19 pandemic that has helped contain its human and macroeconomic ramifications,” the IMF said.

    “At the same time, external pressures have started to emerge: a widening of the current account deficit and depreciation pressures on the exchange rate — mainly reflecting the compound effects of the stronger economic activity, an expansionary macroeconomic policy mix, and higher international commodity prices.”

    The IMF emphasised that the monetary policy needs to remain focused on curbing inflation, preserving exchange rate flexibility, and strengthening international reserves.

    The introduction of the Finance Bill in the National Assembly to increase taxes and approval of the State Bank of Pakistan (SBP) Amendment Bill are pre-conditions for the revival of the IMF loan programme, Finance Adviser Shaukat Tarin said last week.

    The IMF said that despite a difficult environment, progress continues to be made in the implementation of the EFF-supported programme.

    “All quantitative performance criteria (PCs) for end-June were met with wide margins, except for that on the primary budget deficit”, said the IMF.