Business News
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IMF ‘not consulted’ on petrol subsidy
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[ad_1] The headquarters of the International Monetary Fund in Washington DC. — AFP/File International Monetary Fund’s (IMF) Resident Representative for Pakistan Esther Perez Ruiz said the global lender was not consulted by Islamabad before it planned to increase fuel costs for wealthier drivers in order to pay for a subsidy for the country’s lower-income population,…
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Govt’s subsidy plan raises red flags | The Express Tribune
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[ad_1] ISLAMABAD: The chances of finalising the ninth review of the troubled $6.5 billion Extended Fund Facility (EFF) from the International Monetary Fund (IMF) soon got bleak after the global lender on Monday raised questions over the government’s new fuel subsidy scheme. The development came as the government decided to dole out subsidies worth billions…
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Pak Suzuki posts staggering losses of Rs6.3b | The Express Tribune
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[ad_1] KARACHI: Pak Suzuki Motor Company (PSMC) has reported a significant loss of Rs6.3 billion, with outstanding foreign liabilities of $184 million, for the year ended December 31, 2022. According to a notice sent to the Pakistan Stock Exchange (PSX) on Monday, “The company has outstanding foreign liabilities equivalent to $184 million at year end…
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How will govt provide Rs100 subsidy on petrol?
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[ad_1] An employer of a petrol pump fills the fuel tank of a bike in Karachi, on March 17, 2023. — TheNews In a major move to provide relief to the inflation-hit masses, the federal government on Monday decided to subsidise petrol up to Rs100 to motorcyclists and owners of vehicles up to 800cc. The…
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Ishaq Dar says nuclear programme statement taken ‘out of context’
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[ad_1] Finance Minister Ishaq Dar speaks during a press conference in Islamabad on February 10, 2023. — AFP Finance Minister Ishaq Dar said Monday that his statement regarding the nation’s nuclear programme was taken out of context and that reason behind the delay in the International Monetary Fund (IMF) programme’s revival was “technical” and not…
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Pakistan’s current account deficit hits two-year low | The Express Tribune
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[ad_1] KARACHI: Pakistan’s current account deficit (CAD) hit a two-year low of $74 million in a month, narrowly failing to turn around the country’s deficit into surplus in February. The government achieved the significantly low deficit through limiting imports to manage with low foreign exchange reserves and high risk of default on foreign debt repayments.…
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Govt offers Rs50 per litre petrol subsidy to motorcyclists, small car owners
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[ad_1] A view of Motorists standing in a queue for filling petrol outside a petrol pump in Rawalpindi on January 1, 2023. — Online LAHORE: In a surprise relief to the inflation-hit masses, Prime Minister Shehbaz Sharif on Sunday said people belonging to the low-income sector would be given a subsidy of Rs50 per litre…
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As IMF shifts towards inclusive growth, is Pakistan ready? | The Express Tribune
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[ad_1] ISLAMABAD: Pakistan’s decades-old policies that give preferential access to state resources to a select few sectors and ensure strong government footprints have placed it among nations that have the lowest inclusive growth and low access to education and healthcare, endangering the unparalleled demographic dividends. A book of the International Monetary Fund (IMF), “Promoting Inclusive…
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PM announces petrol relief package for motorcyclists | The Express Tribune
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[ad_1] ISLAMABAD: Prime Minister Shehbaz Sharif announced on Sunday that low-income individuals will receive a petroleum subsidy of Rs50 per litre as part of a relief package. The subsidy will be available to those who own motorcycles, rickshaws, 800cc cars, and other small vehicles. During a review meeting on the relief package, the premier emphasised…
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Crunch weekend for crisis-hit Credit Suisse
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[ad_1] Credit Suisse shares have nosedived. — AFP/File ZURICH: Troubled Credit Suisse has two days to reassure before the markets open Monday with the spectre of a new turbulent week in global finance looming. The Zurich-based lender was holding crisis talks this weekend and urgent meetings with Swiss banking and regulatory authorities. Switzerland’s largest bank,…
