Business News
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Hammad Azhar lashes out at PDM for economic destruction
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[ad_1] PTI leader Hammad Azhar. — APP Pakistan Tehreek-e-Insaf (PTI) leader Hammad Azhar Friday slammed Finance Minister Ishaq Dar for presenting the pre-budget Pakistan Economic Survey 2022-23. The politician said Dar should have also presented his resignation along with the economic survey. Lashing out at the Pakistan Democratic Movement’s (PDM) coalition government, the former finance…
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17.5% increase in pension of govt employees in 2024 budget | The Express Tribune
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[ad_1] ISLAMABAD: Presenting the federal budget for Fy2023-24, Finance Minister Ishaq Dar announced a 17.5% increase in the pension of government employees. Unveiling the budget for FY24, the finance minister said “The next fiscal year’s budget will not be an election year budget. It is a fiscally responsible budget,” he said, adding as a precursor…
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Ishaq Dar opposes idea of coalition govt entering fresh IMF programme
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[ad_1] Finance Minister Ishaq Dar speaks while presenting the Pakistan Economic Survey for fiscal year 2022-23, in Islamabad on June 8, 2023. — AFP Finance Minister Ishaq Dar has opposed the idea of the incumbent government entering a fresh bailout programme and assured that he would not support the proposal if it is floated in…
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Pakistan, Turkmenistan ink JIP for TAPI | The Express Tribune
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[ad_1] ISLAMABAD: Pakistan and Turkmenistan on Thursday signed a Joint Implementation Plan (JIP) in a bid to expedite work on the Turkmenistan, Afghanistan, Pakistan, and India (Tapi) gas pipeline project and complete the feasibility of the project at the earliest. The JIP was signed by Minister of State for Petroleum Dr Musadik Malik and State Minister and…
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Pakistan falls short of all economic targets as floods and politics weigh, reveals Economic Survey FY23
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[ad_1] Finance Minister Ishaq Dar addressing the press conference after unveiling the Pakistan Economic Survey Pakistan’s GDP growth rate came to a crawl in the ongoing fiscal year — one of the worst in terms of meeting annual macroeconomic targets — dragged down by agitational politics, cataclysmic floods, trade barriers, and a dangling International Monetary…
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Pakistan to leave 21% policy rate unchanged: analysts | The Express Tribune
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[ad_1] ISLAMABAD: Pakistan’s central bank is widely expected to keep its key interest rate unchanged at 21% on Monday after aggressive rate hikes since April last year to tackle record-high inflation amid the nation’s worst-ever economic crisis. The country’s key rate has been raised by a massive 1125 basis points (bps) since April 2022 and…
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Govt may amend law to bring in dollars | The Express Tribune
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[ad_1] ISLAMABAD: The government is considering allowing people to bring in up to $100,000 from abroad without disclosing the source of income in a move that it hopes can fetch billions of dollars in the next fiscal year. However, this move can create some troubles. Sources told The Express Tribune that the government is considering…
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After 13-year hiatus, Pakistan to get USAID fund for development
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[ad_1] Economic Affairs Division Secretary Dr Kazim Niaz and USAID Mission Director to Pakistan Reed Aeschliman signed a new five-year bilateral on June 7, Wednesday. — Twitter/eadgop The United States Agency for International Development (USAID) on Wednesday announced $445.6 million in grant to support socio-economic development in Pakistan. Economic Affairs Division Secretary Dr Kazim Niaz…
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Gold price in Pakistan declines for third consecutive day
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[ad_1] An undated file image of gold sets displayed at a jewellery store. — AFP/File The gold price in Pakistan witnessed a slide for the third day in a row, declining by Rs800 per tola on Wednesday. The price of gold (24 carats) fell to Rs227,300 per tola after losing Rs800 and the price of…
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Budget caught between IMF expectations and election | The Express Tribune
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[ad_1] KARACHI: The federal government will hope to find a balance between reforms to satisfy the International Monetary Fund and measures to win over voters in an imminent election in its budget for the 2023-24 fiscal year to be announced on Friday, analysts said. Pakistan’s IMF programme runs out this month with about $2.5 billion…
