WASHINGTON: Despite Indian attempts to derail Pakistan’s loan programme, the International Monetary Fund (IMF) on Friday approved two major financing arrangements for the country — a $1 billion disbursement under the ongoing Extended Fund Facility (EFF) and a new Resilience and Sustainability Facility (RSF) aimed at supporting climate-related initiatives. The approval unlocks a total of $2.1bn for Pakistan, including the …
ISLAMABAD: A visiting IMF mission on Friday called on the president of the Supreme Court Bar Association (SCBA) and chairman of the Pakistan Bar Council’s (PBC) special committee on judicial reforms, and discussed with them a wide range of topics with primary focus on eradicating corrupt practices to create an inclusive environment for attracting foreign investment to Pakistan. The meeting …
ISLAMABAD: The International Monetary Fund (IMF) has called on Pakistan to reduce state intervention in the economy and strengthen competition, while also stressing the need for urgent energy sector reforms. “Pakistan should take steps to decrease state intervention in the economy and enhance competition, which will help foster the development of a dynamic private sector,” a statement issued by the …
ISLAMABAD: The International Monetary Fund’s (IMF) Pakistan mission chief Nathan Porter met with Finance Minister Mohammad Aurangzeb in Islamabad on Tuesday to discuss the $7 billion loan performance, a statement from the Finance Ministry said. The meeting comes a day after the opening of an unplanned official visit of the IMF to the country, led by Porter. The unscheduled visit …
WASHINGTON: Pakistan is targeting around $1 billion in a formal request for funding from the International Monetary Fund (IMF) facility that helps low and middle income countries manage external shocks, Finance Minister Muhammad Aurangzeb told Reuters. “We have formally requested to be considered for this facility,” Aurangzeb said in an interview on the sidelines of the IMF/World Bank autumn meetings …
ISLAMABAD: Finance Minister Muhammad Aurangzeb on Sunday said that tax filers for the current fiscal year had nearly doubled as compared to last year, stating that around 723,000 new filers have registered themselves. On September 20, Prime Minister Shehbaz Sharif approved drastic measures for tax enforcement and compliance, including a ban on all banking and financial transactions for non-filers of …
LONDON: Praising the role of the army chief and friendly countries, Prime Minister Shehbaz Sharif on Saturday said the government would expand Pakistan’s tax net and that the “elite must also make sacrifices”. The prime minister made these remarks at a press conference held at the Churchill Hotel in London, where he had a stopover after attending the UN General …
NEW YORK: Prime Minister Shehbaz Sharif announced that Pakistan has successfully met the stringent conditions set by the International Monetary Fund (IMF). Speaking at a discussion on the Sustainable Development Goals (SDG) movement in the United States, PM Shehbaz also expressed his gratitude to friendly nations, including China, Saudi Arabia, and the United Arab Emirates, for their invaluable support in …
ISLAMABAD: The Federal Ministry of Economic Affairs has released significant data revealing which political party’s government in Pakistan borrowed the most from the International Monetary Fund (IMF) and which repaid the most loans and interest. In a briefing to the National Assembly’s Standing Committee on Saturday, officials from the Ministry of Economic Affairs disclosed that the Pakistan Peoples Party (PPP) …
ISLAMABAD: Federal Minister for Information and Broadcasting, Attaullah Tarar accused Jamaat-e-Islami (JI) of breaching the agreement with the government about concluding their protest against inflation with a rally at Liaquat Bagh. However, the government remains open to dialogue, he added. “When it was agreed to hold the rally at Liaquat Bagh, the march towards Islamabad is incomprehensible,” he said while …