Business News
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Chinese bank approves $700m to Pakistan, says Dar | The Express Tribune
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[ad_1] Finance Minister Ishaq Dar on Wednesday announced that the board of China Development Bank (CDB) approved a loan of $700 million for Pakistan. Earlier this month, the country’s foreign exchange reserves slipped to the alarming level of below $3 billion for the first time in nine years, reducing import capacity to slightly over two…
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Govt fully committed to completing IMF programme: Dar
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[ad_1] A delegation of Rothschild and Co comprising Eric Lalo, Partner and Thibaud Fourcade, Managing Director call on Finance Minister Ishaq Dar in Islamabad on February 21, 2023. — PID Finance Minister Ishaq Dar reiterated that the government was fully committed to completing the International Monetary Fund (IMF) programme and fulfilling all international obligations. He…
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Gas shortage exposes fragile Pakistan, Bangladesh to more pain | The Express Tribune
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[ad_1] With a little over a month to go for peak shopping season during Ramadan, the head of Pakistan’s retail industry body is shuttling between meetings, pressing officials to relax orders that forced malls to shut by 8.30 p.m. to save energy. More than 40% of annual retail sales occur in the 30 days of…
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Govt taking urgent steps to stabilise economy: PM Shehbaz
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[ad_1] A delegation of global financial firm Rothschild & Co called on PM Shehbaz in Islamabad on February 20, 2023. PID Prime Minister Shehbaz Sharif said that his government was taking concrete and urgent measures as part of its efforts to put the economy on track. PM Shehbaz’s resolve comes at a time when the…
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Qamar to co-chair Pak-US TIFA meeting | The Express Tribune
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[ad_1] ISLAMABAD: Federal Minister for Commerce, Syed Naveed Qamar will co-chair the Pakistan-US Trade and Investment Framework Agreement (TIFA) Council meeting to be held in Washington DC after eight years. According to a press statement issued by the commerce ministry, the purpose of TIFA is to enhance the bonds of friendship and spirit of cooperation…
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ICT export remittances rise to $1.5b | The Express Tribune
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[ad_1] ISLAMABAD: The information technology and IT-enabled services (ITeS) industry has received export remittances of $1.523 billion in the first seven months (Jul 2022-Jan 2023) of current financial year, an increase of 2.35% year-on-year. In the corresponding period of last year, the industry had realised information and communication technology (ICT) export proceeds of $1.488 billion.…
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NA stamps IMF-influenced mini-budget
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[ad_1] Federal Minister for Finance and Revenue Ishaq Dar addresses the National Assembly on February 20, 2023. — Twitter/@NAofPakistan The National Assembly on Monday approved the Finance (Supplementary) Bill 2023 for the remaining four months of the fiscal year 2022-23 as Finance Minister Ishaq Dar convinced members of the lower house of parliament that the…
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Rs170 billion mini-budget sails through National Assembly | The Express Tribune
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[ad_1] ISLAMABAD: The National Assembly on Monday passed the Finance (Supplementary) Bill, 2023 dubbed as ‘mini-budget’ to impose new taxes worth Rs170 billion in a bid to revive the stalled International Monetary Fund (IMF) bailout programme. Minister for Finance Ishaq Dar introduced the bill in the House last week followed by formal debate that started…
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Economic crisis in Pakistan and the role of West | The Express Tribune
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[ad_1] ISLAMABAD: One thing is common among international financial institutions (IFIs), which is they trap and exploit countries, and blame others for their exploitation. It is an unwritten rule of business and they are applying it with dedication. It is a known fact that many countries crumbled during the reform period under an IMF programme.…
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IMF chief urges Pakistan to tax rich, protect poor | The Express Tribune
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[ad_1] International Monetary Fund (IMF) Managing Director Kristalina Georgieva has urged Pakistan to take necessary steps “to be able to function as a country” and avoid “getting into a dangerous place where its debts need to be restructured”. She said this while speaking to German broadcaster Deutsche Welle at the Munich Security Conference. Pakistan is confronting an acute…
