It was President Obama who said, âElections have consequences.â How true that is. Today we have thousands of laid-off pipeline workers applying for green-energy jobs at Solyndra; well, maybe not there. You get the point: Theyâre just not there.
And now we have a new immigration policy. Itâs âyaâll come.â And the younger you are, the better, and if you have COVID, not a problem. Itâll be taken care of when you reach your final destination.
As the national debt approaches $30 trillion, the Biden administration has decided to spend without any restrictions. Their solution: Tax those at the top. But anyone familiar with economics knows, yup, it all flows downhill.
Debt trap
April 11, 2021
Over the past 32 months, the PTI government has spent Rs10 trillion more than the government’s income. That’s the budgetary deficit. The budgetary deficit was filled by high cost loans. That’s digging deeper into the debt trap. Over the past 32 months, the circular debt in the electricity sector has gone up from Rs1.1 trillion to Rs2.5 trillion. This Rs1.4 trillion loss has to be filled by high cost loans. That’s digging even deeper into the debt trap.
Public Sector Enterprises have taken Rs2,000 billion worth of debt. The circular debt in the gas sector now exceeds Rs350 billion. The government’s so-called ‘Commodity Operations’ have taken Rs700 billion worth of additional debt. Lo and behold, the Federal Board of Revenue (FBR) has also accumulated Rs710 billion worth of circular debt in the form of ‘tax refunds’. Ever wondered why we are in a debt trap?
National
April 11, 2021
ISLAMABAD: In the wake of the rising burden of public debt that had ballooned to almost 93 percent of GDP, the PTI government has committed to the IMF for tabling amendments into Fiscal Responsibility and Debt Limitation Act (FRDLA) 2005 before the Parliament by June 2021.
The amendments into FRDLA is aimed at strengthening the Debt Management Office (DMO) working under the Ministry of Finance. According to the IMF staff report compiled after approval of second to fifth reviews under $6 billion Extended Fund Facility, (EFF) the government agreed to establish a debt management office to strengthen its debt management strategy.
In line with World Bank and IMF recommendations, Pakistan told the IMF that they have established the proper rules of business, describing the activities and organization of the DMO, as they are amending the Fiscal Responsibility and Debt Limitation Act (2005). The draft bill for requisite amendments are expected to be submitted to t
The head of Switzerland's financial regulator FINMA questioned Credit Suisse over risks in its dealings with now-insolvent finance firm Greensill Capital "months" before the bank was forced to close $10 billion of funds liked to Greensill, Swiss newspaper SonntagsZeitung.
Opinion: Why Air New Zealand credit holders need to look to a refund
10 Apr, 2021 11:00 PM
5 minutes to read
Air NZ parked planes and hundred of millions of dollars in prepaid air fares last year. Photo / Getty images
Air NZ parked planes and hundred of millions of dollars in prepaid air fares last year. Photo / Getty images
OPINION:
Air New Zealand is making it easier to get refunds - and anyone with money tied up with the airline would be well advised to give it a go. Last year the airline cited financial hardship for not refunding hundreds of millions of dollars of travel, saying if it did so it faced the prospect of going under. It was them (the airline) or you (customers).