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Friday, May 15, 2020

Exports fell by 54 per cent, imports by 32 per cent and trade deficit by 14 per cent

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Exports fell by 54 per cent, imports by 32 per cent and trade deficit by 14 per cent

Due to the corona, Pakistan's exports fell by 54% and imports by 32%. The trade deficit in April also declined by 14.5 per cent over the previous year. Due to the corona, the state of emergency around the world stifled trade activities, Pakistan's exports as well as imports fell significantly.

According to the report, Pakistan's exports in April 2020 were 54 percent lower than in April 2019, but imports of four products increased, basmati rice 21 percent, tents and tarpaulins 32 percent and plastic materials 30 percent more. According to officials, exports of cotton, wheat, sugar and coal remained completely closed while exports of textile products declined by 64.52 per cent, carpets by 92 per cent, sports goods by 77 per cent and leather products by 70 per cent less than the previous year. ۔ According to the import report, due to reduction in consumption, imports of petroleum products were reduced by 55%, crude oil by 86% and gas by 52%. Overall, imports were 32% lower than the previous year.

In April 2020, Pakistan's trade deficit narrowed to 14.40 percent from 2 2.62 billion in the same period last year, to 2 2.24 billion. According to officials, the trade deficit was reduced by more than 25% in 10 months.

SBP saves more than 200,000 people from unemployment SBP saves more than 200,000 people from unemployment... amazon news updates

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KARACHI: The State Bank of Pakistan (SBP) has saved more than 200,000 people from becoming unemployed due to the Korna virus.

According to a statement issued by the central bank, the SBP has issued concessional loans to various companies to prevent layoffs.

https://twitter.com/StateBank_Pak/status/1258746023956094977?s=20

According to the statement, so far the SBP has issued loans of Rs 23 billion to 209 companies, which has secured the jobs of 220,000 employees.

The SBP says that loans are being given to companies at an interest rate of 3% and at present a total of 1100 companies are considering loan applications of Rs 90 billion.

According to the SBP, the issuance of loans will save the employment of 850,000 employees.

It may be recalled that the State Bank of Pakistan while introducing a new scheme, had decided to lend to companies at concessional interest rates equal to the salaries of the employees, and this decision was taken by the companies to encourage people not to lay off their jobs from April to June. Was made for.

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Rise in deaths, use of malaria drug chloroquine on corona patients stopped in Pakistan... amazon amazon updates

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LAHORE: The use of chloroquine, a drug used to prevent and treat malaria, has been discontinued in Corona patients, an advisory group member said.

According to the details, Corona Expert Advisory Group has decided to immediately stop the use of Coroquine, an anti-malarial drug on patients with Corona. To put

Professor Saqib said that chloroquine, hydroxychloroquine is causing the irregular heartbeat. In the first study, the use of chloroquine had beneficial effects.

On the other hand, a meeting of the Corona Expert Advisory Group will be held today, in which the final decision on cohort patients' home isolation will be made. Will not be found

The advisory group member had said that patients with home isolation would be geo-tagged through the application, adding that 80 percent of Corona patients did not need treatment while 3 out of 100 people needed to go to the ventilator.

Saqib Saeed said that for isolation, it is necessary to have a separate room, attic bathroom, and caretaker in the house. The home administration and district health will inspect the house before insulation. I need to log in.

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Coronavirus effects, superpower America forced to borrow heavily.....amazon amazon updates

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WASHINGTON (Reuters) - The United States will borrow 30 3 trillion to increase spending on coronaviruses, including health care funding and direct payments.

According to the details, the coronavirus has shaken the economies of the world, not only the developing but also the developed countries could not escape from its effects, in this situation the superpower America has been forced to borrow.

The United States has said it will borrow 3 trillion for the first time in the second quarter, to be raised from the sale of bonds to cover the heavy costs of Corona virus-related projects.

The money will be spent by the United States on health-related funding and virus-related assistance, including direct payments.

It is believed that the United States had earlier taken a loan at the height of the financial crisis in 2018, but this amount of 30 trillion is five times more than the previous loan.

In 2019, the United States also borrowed 29 trillion 70 billion dollars, the total volume of debt of the United States is 250 trillion dollars.

Coronavirus has killed 69,000 people in the United States, while the US president has expressed fears that the death toll could rise to 100,000.

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$ 3 cheaper 31 paise a day

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Due to the Corona virus, economies around the world, including Pakistan, are experiencing a slowdown and the dollar has been rising steadily over the past several days.

dollar

But now after the good news about the Pakistani economy, the rupee has appreciated against the dollar and the dollar has fallen by Rs. 31 paise in one day.

It is to be noted that yesterday, a group of the 20 largest economies of the world (G20) announced a one-year delay in repayment of nearly $ 40 billion in debt payments to 76 developing countries, including Pakistan. Pakistan will receive about $ 12 billion in debt relief.

Subsequently, the State Bank of Pakistan reduced interest rates by 2% to 9%, which triggered a wave of happiness among investors and its impact was also seen in the stock market today.

The third big news for the Pakistani economy was the World Monetary Fund's approval of a $ 38 billion relief package for Pakistan, which will increase Pakistan's reserves.

https://twitter.com/StateBank_Pak