Business News
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Crucial $3b IMF lifeline comes with tough conditions | The Express Tribune
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[ad_1] LAHORE: Pakistan secured a badly-needed $3 billion short-term financial package from the International Monetary Fund on Friday, giving the economy a much-awaited respite as it teeters on the brink of default. The IMF said it had reached an agreement on the deal with the 220 million nation, which will now be subject to approval…
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Petrol levy rises to Rs55 per litre from today
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[ad_1] An undated image of workers standing at a petrol pump in Pakistan. — AFP The federal government on Saturday approved an increase in the petroleum development levy just a day after Pakistan signed a $3 billion pact with the International Monetary Fund (IMF). The PDL on petrol has been jacked up from Rs50 to Rs55 per litre from…
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No change in petrol price, says Ishaq Dar
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[ad_1] A representational image of a fuel station staffer updating the fuel prices in Karachi. — AFP/ File In a late night press conference on Friday, Finance Minister Ishaq Dar announced that the government has decided to maintain the status quo on the petrol prices but the diesel prices have been increased by Rs7.50 for…
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Miftah believes Pakistan ‘back on right track’ with IMF deal
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[ad_1] Former finance minister Miftah Ismail addressing a press conference. — APP/File Following the announcement of a staff-level agreement (SLA) with the International Monetary Fund (IMF) agreement, former finance minister Miftah Ismail on Friday said that the default threat looming over the county will receded and “Pakistan is now firmly back on the right track”.…
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PM terms Paris meeting with IMF chief ‘turning point’ to clinch SBA
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[ad_1] Prime Minister Shehbaz Sharif, Finance Minister Ishaq Dar addressing the media after overseeing the signing of the SLA with IMF. — Screengrab/PTV/YouTube After Pakistan clinched the staff-level agreement (SLA) with the International Monetary Fund (IMF) on a stand-by arrangement (SBY), Prime Minister Shehbaz Sharif termed his meeting with Managing Director Kristalina Georgieva in Paris…
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‘Positive development’: Experts foresee stability, rupee strengthening post-IMF deal
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[ad_1] Logo of the IMF. — AFP Pakistan on Friday secured the staff-level agreement (SLA) wit the International Monetary Fund (IMF) on a $3 billion stand-by arrangement, that help the country get out of the default situation and put the economy back on track. IMF’s executive board will meet mid-July to approve the disbursement of…
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FDA finds multiple faults at India’s second-largest drugmaker | The Express Tribune
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[ad_1] Officials of the the US Food and Drug Administration (FDA) have detected numerous faults at a factory operated by Aurobindo Pharma Ltd., one of India’s largest pharmaceutical companies, Bloomberg reported. This comes as the FDA is scrutinising considerable shortcomings in India’s factories amidst a backlog of inspections due to the Covid-19 pandemic. According to…
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IMF deal averts Pakistan’s likely default: American expert
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[ad_1] Shipping containers are seen stacked on a ship at a sea port in Karachi, Pakistan, April 6, 2023. — AFP As the International Monetary Fund (IMF) announced that it has reached a staff-level agreement (SLA) with Pakistan, the director of the South Asia Institute at the Wilson Center said that the financial deal would prevent…
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Pakistan, IMF clinch deal on $3 billion ‘stand-by arrangement’
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[ad_1] The International Monetary Fund building in Washington. — AFP/File In a major breakthrough on Friday, the International Monetary Fund (IMF) announced reaching a staff-level agreement (SLA) with Pakistan on $3 billion “stand-by arrangement” (SBA). “I am pleased to announce that the IMF team has reached a staff-level agreement with the Pakistani authorities on a…
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Pakistan, IMF reach staff-level pact on crucial $3b bailout | The Express Tribune
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[ad_1] ISLAMABAD: The International Monetary Fund (IMF) has reached a staff-level pact with Pakistan on a $3 billion stand-by arrangement, the lender said, a decision long awaited by the South Asian nation which is teetering on the brink of default. The deal, subject to approval by the IMF board in July, came hours before the…
