Kuwait to borrow more from int’l market: HumSub.TV
Kuwait to borrow more from int’l market: HumSub.TV: Kuwait will increase its borrowing on international markets to plug a budget deficit resulting from low oil prices, the finance minister said on Tuesday.
The move comes after the Gulf state raised $8 billion (7.5 billion euros) last month in its first international bond issue. “We will continue to be present in the international (debt) market but in a prudent, rational way,” Finance Minister Anas al-Saleh told reporters at the Kuwait Financial Forum.
“We will use all instruments, including bonds and (Islamic) sukuks. This will go side by side with enforcing reforms,” he said. After registering a healthy surplus for 16 consecutive years, the Gulf state posted its first budget shortfall of $15 billion in the 2015-2016 fiscal year following a slump in oil prices.
Kuwait projected a deficit of $29 billion in the 12 months to March 31. The country is expecting a deficit of some $21.6 billion for the next fiscal year. On top of its international bond sales, Saleh said the government had raised domestic debt worth 2.2 billion dinars ($7.2 billion) in 2016-2017.
The government also withdrew unspecified amounts from its reserves, estimated at $600 billion, to meet the budget deficit. Saleh said the government put forward a bill allowing the state to borrow up to 20 billion dinars ($65.5 billion) over the next five years. Like other countries in Gulf, oil-rich Kuwait has seen its main revenue stream hit hard by a prolonged drop in crude prices. An OPEC member state, it pumps around 2.8 million barrels per day.
Kuwait to borrow more from int’l market: HumSub.TV
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Introduction
HumSub TV is Pakistan’s leading forwarding-thinking, edutainment channel, aimed at promoting and upholding peace, interfaith harmony and social responsibility within Pakistan through informative and insightful programmes and documentaries; analytical interviews on issues pertaining to social, economic, legal and environmental set-up; dedicated shows to canvass and thereby promote the culture and heritage of Pakistan and in-depth coverage of national and international news.
HumSub TV is the first channel and thus a pioneer within its own right that mainly focuses on emphasising the “Rights” as well as the “Obligations” of the citizens in light of the Constitution of Pakistan, numerous International declarations signed by the Government and various laws that have been promulgated over the years but are not in the knowledge of the common citizen.
HumSub TV also aims to enter into bilateral agreements with other countries to promote not only their culture, heritage and tourism, but also their educational and medical facilities.
Following the successful launch of HumSub TV’s head office in Blue Area, Islamabad; the bureau office has been set up in Lahore.
Vision
To project positive image building of Pakistan and inculcate nationalism, as per the vision of the founder of the nation, Quaid-e-Azam Mohammad Ali Jinnah.
Mission
HumSub TV is resolute about the promotion of a pluralistic, inclusive and egalitarian society in Pakistan where all citizens are allowed to contribute to promote interfaith harmony, peace and collective wisdom in the social, political and economic development of Pakistan and to encourage critical and lateral thinking in the society. HumSub TV strives to make a positive contribution to this end.
HumSub TV’s Theme
HumSub TV, Pakistan’s first EDUTAINMENT Channel, has been set up for not only those audience residing in Pakistan or overseas but the international community on the whole. The vision of the channel is to project positive image building of Pakistan and inculcate nationalism as per the vision of the founder of the nation.
HumSub TV strives to make a positive contribution to this end by promoting pluralism, inclusiveness and egality in Pakistan and give voice to the suppressed. It endeavors to act as a positive catalyst for social change and Pakistani nationalism. It envisions providing a platform for airing critical and lateral thinking and collective wisdom by inviting positive minded intellectuals and opinion forming individuals for the promotion of interfaith harmony and peace in the social, political and economic development of Pakistan.
Whereas the channel airs upbeat edutainment programmes, it, nonetheless, has the primary objective of countering negative anti-Pakistan regional and international propaganda as well as advancing fundamental rights as encapsulated in the Constitution of Pakistan.
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