We have some serious issues on our mind this week. Legacy banks are trying to keep up with all of the changing fads in the banking industry and there are questions being raised about debt servicing after the announcement of the new IMF program. Ariba Shahid brings you the woes of banking, CEO salaries, and more in this week’s social media roundup.
To all the fat lazy incumbents looking at tech startups: pic.twitter.com/0oj28q0vnd
— sameer (@sameerchishty) February 12, 2022
Things are heating up. Legacy banks, logistics services, and brick and mortar businesses need to be on their toes considering the rapid pace at which things are going. As Sameer rightly points out, being overtaken may not be that far.
Impressive fiscal performance, despite higher development spending from last year Rs574bn vs Rs457bn and lower non-tax revenue on account of huge sacrifice Rs200bn loss of petroleum levy from last year. The deficit came in at 2.1% of GDP & posted primary surplus at 0.1% of GDP https://t.co/HSutFEODNV
— Muzzammil Aslam (@MuzzammilAslam3) February 10, 2022
The IMF focuses more on the primary balance than the budget balance. The budget deficit and primary deficit are two distinct things. Primary deficit is when the government expenditure excluding debt servicing is more than total government revenue. The primary surplus is essentially used as a message that the country has attained market maturity and does not need to borrow to fully service its debt. However, despite this...
Read Full Story: https://profit.pakistantoday.com.pk/2022/02/12/reza-baqirs-salary-and-banking-woes-this-week-in-pakistans-business-and-economics-twitterverse/
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