Baithak Desi May 23: Zardari flexes, SBP misfires, Headlines, Cartoons

To a pointed query by PTI if Musharraf’s days as President are numbered, Zardari evaded a direct reply saying: “I don’t know whether his days are numbered or my days are numbered or our government’s days are numbered. Who knows that?” Zardari gets tough with Musharraf


“This is the highest-ever government borrowing in history from the central bank and more than double last year’s level of Rs 452.1 billion,” she disclosed. The further tightening of monetary policy, she hoped, would reduce the inflationary pressures on economy and narrow the current account and trade deficits. Earlier on January 31, the SBP had raised the discount rate by 50 bps to 10.5 per cent. “The headline inflation is standing at an alarming level,” Shamshad said, adding that on year-on-year basis, it almost doubled in just four months; moving from 8.8 per cent in Dec 2007 to 17.2 per cent in April 2008. More disturbing was the trend of food inflation, which also doubled, spiking to 25.5 per cent from 12.2 per cent during the same period. SBP raises discount rate to 12 per cent

Headlines

Business circles lash out at SBP on interest rate hike
Bewailing cranes Harris Khalique
Musharraf to vacate Army House in July
All in the family: Ispahani appointed ambassador-at large