Tag: finance
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Pakistan aims for more than $6 billion IMF bailout, targets agreement this month
Pakistan is on track to finalise a staff-level agreement with the International Monetary Fund (IMF) for a bailout exceeding $6 billion by the end of this month, announced Junior Finance Minister Ali Pervaiz Malik on Wednesday.
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Halaat kb behtar honge? Finance Minister gives timeline for structural reforms
Finance Minister Muhammad Aurangzeb spoke at the US think tank Atlantic Council in Washington DC, stating that Pakistan needs two or three years to implement structural reforms prescribed by International Monetary Fund (IMF). The minister remarked that Pakistan does not need any more policy prescription from the IMF because it knows what it needs to…
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World food prices rise for first time in seven months: FAO
Global food prices rose in March, the first increase since July, pulled higher by cooking oil prices despite the cost of grains continuing to ease, the UN’s Food and Agricultural Organization said Friday. The FAO’s overall Food Price Index climbed 1.1 percent over the month to stand at 118.3 points in March 2024. On an…
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IMF engagement should not hinder Pakistan’s economic progress: PM Shehbaz
Prime Minister (PM) Shehbaz Sharif asserted on Tuesday that any forthcoming engagement with the International Monetary Fund (IMF) must not impede Pakistan’s economic progress.
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Significant increase in mobile phone imports in eight months
Imports of mobile phones have recorded a significant year-on-year increase in the first eight months of the current financial year. According to statistics released by Pakistan Bureau of Statistics, during the period from July to February 2024, 1.148 billion dollars was spent on the imports of mobile phones, which is 156 per cent more than…
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SBP reports marginal dip in bank deposits
In January 2024, the total deposits held by scheduled banks in Pakistan experienced a robust year-on-year growth of 21.03 per cent, reaching Rs27.54 trillion.
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ECC approves Rs7.49 billion Ramzan Relief Package
In a significant move to provide relief to the general public during the upcoming Ramazan, the Economic Coordination Committee (ECC), in its latest meeting chaired by the Federal Minister for Finance, Revenue, and Economic Affairs, Dr Shamshad Akhtar, approved the Ramzan Relief Package-2024.
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Women still need men’s permission to exist in Pakistan
Zainab*, 25, has been working as a domestic servant for as long as she can remember. Her father died when she was young and her mother remarried, leaving Zainab and her sister at the mercy of extended family. Every month, she would send her salary back home for safekeeping but when she would ask for…
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Tariff hike of Rs1.72 per unit approved for K-Electric consumers
The Economic Coordination Committee (ECC) has granted approval for quarterly tariff adjustments of Rs1.72 per unit for K-Electric, alongside government guarantees of Rs100 billion for Pakistan State Oil (PSO) and a Rs20 billion credit facility for Punjab’s Green Cooperative Initiative.
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98 percent of Pakistanis unhappy with country’s direction, survey
Along with the country’s economy, restoring the declining confidence of Pakistani consumers is a big challenge for the caretaker government. Apsus Pakistan released the third quarter survey report of Consumer Confidence Index. According to the survey report, 98 per cent of Pakistanis are not happy with the country’s direction, while the number of Pakistanis who…