Economy Flashcards
Trade deficit
As of October 2023, the trade deficit in Pakistan is $5.289 billion.
corporate tax rate in pakistan
The current corporate tax rate in Pakistan is 29%.
Sales tax
18% on goods, 17% on services, Locally manufactured vehicles: 25%
Pakistan’s debt?
Pakistan’s public debt reached $125.6 billion in 2023, equivalent to 89.1% of GDP.
Audit?
An audit is a systematic examination of a company’s financial statements and accounting processes to determine if they are accurate and compliant with IFRS.
Interest rate curbs the inflation?
Central banks raises interest rates to curb the inflation. It makes borrowing expensive, business and consumers less likely to borrow money to spend. Which reduces the demand for goods and services.
Foreign reserves ?
Assets that are held by a country’s central bank or monetary authority in various foreign currencies.
Steps taken by you to improve economy?
- Trade liberalisation: Reduce tarrifs and non tariffs barriers. This has made it easier for pakistani businesses their goods to international markets.
- Education and skill development to improve the quality of workforce. To develop productive and competitive labour force
- Addressing energy challenges: developing renewable energy sources and improving efficiency. This will help reduce reliance on imported oil and gas.
Inflation rate of pakistan?
Is slowed to 26.9%
Petrol rate?
281.34/Ltr
Imports of pakistan
- Refined petroleum
- Petroleum gas
- Palm oil
- iron and steel
Crises of pakistan
High inflation
High debt level
Weak economic growth
Energy shortages
Recent developments
Israel and palestine agreed on 4 days truce upon exchange of hostages and Palestinian prisoners.
No miltary operation for four days
Israel to allow more relief add.
Qatar declared it as a humanitarian pause.
