Tribune
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IMF seeks political consensus for revival of $6.5b bailout | The Express Tribune
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[ad_1] ISLAMABAD: The International Monetary Fund (IMF) on Tuesday expressed concerns that the opposition might create hurdles in the way of implementing tough economic decisions, urging the government to meet all the “requirements” for the completion of the much-delayed programme review. Nathan Porter, the visiting mission chief of the IMF, raised the question about the…
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BD secures $4.7b from IMF as Pakistan, Sri Lanka see delays | The Express Tribune
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[ad_1] The International Monetary Fund (IMF) has approved loans of $4.7 billion to Bangladesh for disbursal starting immediately, making it the first to secure such funds out of three South Asian countries that applied last year amid economic trouble. The loans are a win for Prime Minister Sheikh Hasina ahead of a general election early…
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Pakistan braces for fuel shortages amid liquidity crisis | The Express Tribune
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[ad_1] KARACHI: Pakistan could face a crunch in fuel supplies in February as banks have stopped financing and facilitating payments for imports due to depleting foreign exchange reserves, traders and industry sources said. The country is facing a balance of payments crisis and the plummeting value of the rupee is pushing up the price of…
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Power consumers brace for tariff rise | The Express Tribune
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[ad_1] ISLAMABAD: Electricity consumers are bracing for another shock as power tariff is likely to be increased following the free fall of Pakistani rupee against the US dollar in the past one week. However, the Pakistan Muslim League-Nawaz (PML-N) led coalition government will be in trouble and face a political backlash if it goes for…
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Rupee breaches 270 against USD as downward spiral continues | The Express Tribune
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[ad_1] KARACHI: The Pakistani currency surpassed Rs270 against US dollar for the first time at noon on Monday in the interbank market as the government surrendered its control over the exchange rate to satisfy IMF demands. The currency was freshly devalued by Rs7.50 (or 2.77%) to a new all-time low at Rs270.10 against the US…
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A move towards sustainable alternatives | The Express Tribune
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[ad_1] KARACHI: The most valuable quality that a socially conscious and responsible business can demonstrate to its stakeholders is its understanding that profits cannot be achieved without integrating people and the planet into its purpose. A rise in this approach can be observed in how organisations are rethinking their approach to conventional CSR. They are…
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Govt jacks up petrol price by Rs35 | The Express Tribune
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[ad_1] Finance Minister Ishaq Dar announced an increase in petrol and diesel prices by Rs35 per litre effective as of 11 am on Sunday. The minister made the announcement in a brief televised address to the nation today and maintained that Kerosene oil and light diesel oil prices were jacked up by Rs18 per litre.…
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Raise minimum wage to Rs35,000: Miftah | The Express Tribune
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[ad_1] PESHAWAR: Former finance minister Miftah Ismail on Saturday suggested that to meet the demands of the International Monetary Fund (IMF), the government would have to raise the minimum wage from Rs25,000 to Rs35,000. Addressing a two-day seminar titled “Re-imagining Pakistan” held by the PPP at Peshawar’s Nishtar Hall via video link, he noted that…
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Dar denounces tractor industry | The Express Tribune
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[ad_1] ISLAMABAD: Economic Coordination Committee (ECC) Chairman and Finance Minister Ishaq Dar has lashed out at the tractor industry for its lack of response despite getting several incentives. A number of initiatives had been taken but the tractor industry remained “non-responsive” and now “focus is on approving a policy and settling issues at the implementation…
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DRAP urges govt to trade in yuan | The Express Tribune
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[ad_1] KARACHI: The Drug Regulatory Authority of Pakistan (DRAP), on Friday, urged the government to strike import deals, especially for raw material required for the production of drugs and medical devices, in Chinese currency (RMB) to avoid potential interruptions in the country’s production of pharmaceuticals. During a meeting with the Pakistan Pharmaceutical Manufacturers’ Association (PPMA),…
