Biden to call for increase in corporate taxes to pay for $2 trillion infrastructure plan.


By BY JIM TANKERSLEY AND EMILY COCHRANE from NYT U.S. https://ift.tt/2PK1EJO

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Trade deficit widens 106pc in July-Dec

ISLAMABAD: Pakistan’s trade deficit year-on-year widened by a sharp 106.4 per cent to $25.478 billion which was driven largely by a nearly triple increase in imports compared to exports, showed data released by the Pakistan Bureau of Statistics on Wednesday. Upward reversing trend in trade deficit was witnessed for the six consecutive month owing to an unprecedented increase in the import values while the exports stagnated at between $2.5bn and $2.8bn a month — mostly semi-finished products or raw materials. Commerce Adviser Razak Dawood said in a statement that there were indications that the growth in imports had started to decline. During December 2021, Pakistan’s imports decreased by $1bn to $6.9bn as compared to $7.9bn in November 2021. The import projection for December 2021 was $6.2bn. Month-on-month it contracts 2.82pc The merchandise trade deficit swelled by 85.38pc year-on-year to $4.857bn in December. The highest-ever increase in imports also helped the Federal Board ...
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