economic
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Saudi Arabia says OPEC+ oil cut ‘purely economic’ | The Express Tribune
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[ad_1] CAIRO: Saudi Arabia rejected as “not based on facts” criticism of an OPEC+ decision last week to cut its oil production target despite US objections, and said Washington’s request to delay the cut by a month would have had negative economic consequences. The OPEC+ decision was adopted through consensus, took into account the balance…
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Pakistan for ‘roadmap’ to offset economic ‘shocks’ | The Express Tribune
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[ad_1] UNITED NATIONS: Pakistan, speaking for the Group of 77 (developing countries) and China, has called for a clear roadmap to overcome the recent series of “shocks” to the world economy, including the deadly coronavirus pandemic and the spike in commodities prices, that have disproportionately impacted the poorest countries. “The unequal impacts have been accompanied…
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Economic future of Pakistan | The Express Tribune
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[ad_1] ISLAMABAD: Pakistan is searching for a plausible policy to overcome the economic crisis. The policy which can help to achieve the goal of sustainable development and maintain dignified place in the global community. Pakistan has kick-started the process of dialogue, consultation and has engaged the policy institutes for assistance. Deliberations are going on with…
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Singaporean company chief praises Ishaq Dar’s economic policies
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[ad_1] Executive Chairman of Meinhardt Dr Shehzad Nasim (left) and former finance minister Ishaq Dar. — Meinhardt/YouTube TOKYO: The top executive of an engineering company based in Singapore has heaped praises on the economic policies of former finance minister Ishaq Dar. Dr Shehzad Nasim, the executive chairman of Meinhardt, said that not only did Dar’s policies…
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China agrees to provide $2.3 billion loan amid economic crisis | The Express Tribune
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[ad_1] ISLAMABAD: Minister for Finance and Revenue Miftah Ismail on Wednesday announced the good news that the Chinese consortium of banks had signed the RMB 15 billion ($2.3 billion) loan facility agreement after it was signed by the Pakistani side a day earlier. “The Chinese consortium of banks has today signed the RMB 15 billion…
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‘Political instability holds back economic growth, not graft’ | The Express Tribune
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[ad_1] Insisting that corruption is not the major hindrance to Pakistan’s economic progress, Federal Minister for Planning, Development, Reforms and Special Initiatives Ahsan Iqbal on Monday said that some countries even managed to develop with similar levels of corruption. “I can count many countries in the world that have developed despite having similar corruption as…
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External borrowing funds economic growth | The Express Tribune
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[ad_1] ISLAMABAD: Economic Advisory Group Chairman Javed Hassan, while questioning the credibility of the new budget, has pointed out that most of the economic growth will be funded through external borrowing. “Budget was announced during negotiations with the IMF (International Monetary Fund). This can put Pakistan in an extremely onerous situation as much of the…
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Economic crisis and default fear | The Express Tribune
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[ad_1] ISLAMABAD: Pakistan now faces daunting challenges in dealing with the economic crisis to meet its balance of payments needs and avoid economic default. The budget deficit in the outgoing year 2021-22 is expected to be around Rs5,200 billion. Circular debt in the power sector is going to be Rs2,500 billion. Trade deficit has increased…
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Defence budget up by 2.7% amid economic crunch | The Express Tribune
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[ad_1] ISLAMABAD: The federal government has proposed a 2.69 per cent increase in the defence budget as Pakistan is facing an economic crunch and thus resorting to unpopular measures to avoid a potential default. The budget document on Friday showed that the defence outlay for fiscal year 2022-23 would be Rs1,523 billion as compared to…
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Finance Minister Miftah Ismail unveils Pakistan Economic Survey | The Express Tribune
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[ad_1] Finance Minister Miftah Ismail unveiled the Pakistan Economic Survey for Financial Year 2021-22 on Thursday as he underlined the need for “sustainable economic growth” in the upcoming financial year. The survey was revealed by the finance minister alongside Planning Minister Ahsan Iqbal, State Minister for Finance Ayesha Ghous Pasha, and Power Minister Khurram Dastgir…
