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KARACHI:  There was a lot of talk about Chinese debt and when the International Monetary Fund (IMF) mission came to Pakistan we shared data on the very first day, said Finance Minister Asad Umar. “There is nothing really to hide. It is less than 10% of the public debt of Pakistan,”...
ISLAMABAD: The World Bank is expected to approve a loan of $100 million that will improve access to safe water and sanitation services in Kara­chi, and increase financial and operational performance of the Karachi Water and Sewerage Board (KWSB). A World Bank team will start appraising the project submitted by...
The federal government has decided to review fertilizer price mechanism after witnessing current "unjustified" increase in urea prices by the local fertilizer industry which is already making huge profits, sources close to Secretary Industries and Production told Business Recorder. The decision was taken by the Economic Coordination Committee (ECC) of...
The Federal Cabinet, which is scheduled to meet on Tuesday (tomorrow) with Prime Minister, Imran Khan, in the chair will accord approval to wheat procurement and export policies for 2019. Though provincial governments have already announced their wheat procurement policies, the Ministry of National Food Security and Research held...
ISLAMABAD:  The Trump administration has turned down Pakistan’s demand for duty-free market access to the US for its products, disclosed a prime minister’s aide. “We want duty-free market access for Pakistan’s exports to the United States, but Trump is a main hurdle,” Adviser to Prime Minister on Commerce, Textile and Industry...
KARACHI: Pakistan has paid $1 billion of the total $2bn raised in 2014 through the issue of five-year and 10-year Eurobonds, the State Bank of Pakistan (SBP) announced on Monday. The issue, held in April 2014, was censured by independent economists who criticised the high rates offered to sell these...
KARACHI: Pakistan’s current account deficit (CAD) narrowed considerably by 29.5% to $9.6 billion in first nine months (July-March) of the current fiscal year mainly due to much-needed drop in imports and a significant rise in worker remittances. The current account deficit stood at $13.6 billion in the same period of previous...
KARACHI: Car imports fell 42 percent to $209 million in the first nine month of the current fiscal year of 2018/19 as restriction on non-filers to own vehicles and weakening rupee discouraged importers, analysts said on Thursday. Car imports – in completely-built-unit shape – stood at $359.5 million in the...
ISLAMABAD: The Central Development Working Party (CDWP) on Monday cleared a total of four development projects costing about Rs210 billion, mostly in the energy sector. The meeting of the CDWP was presided over by Federal Minister for Planning, Development & Reform Makhdum Khusro Bakhtyar. The meeting formally approved a Rs552.71...
ISLAMABAD:  The key suspect in the rental power plants case – Laeeq Ahmed Sheikh, who is in National Accountability Bureau’s (NAB) custody, has revealed some astonishing facts. According to NAB sources, Sheikh confessed to have received kickbacks worth $350,000 for brokering a deal between the government of Pakistan and the Turkish...

Opinion

imf

IMF package

There are reports that an agreement with the IMF to support Pakistan with a ‘bailout package’ in the range of $6 to $8 billion...