Tag: loans
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Aanay waalay dinon mein koyi barra toofaan barpa ho sakta hai: Hamid Mir
Senior journalist Hamid Mir has warned that all is not well in Islamabad and a big storm may hit the corridors of power in the near future. While speaking on Geo News’ programme Geo Pakistan, Mir said, “Maujooda haqoomti ittehaad mein sab kuch acha nahin hai aur Islamabad mein honay waali siyaasi garma garmi aanay…
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‘September sitamgar hoga’: Sheikh Rasheed announces Khan’s march in Islamabad
Former interior minister and Awami Muslim League chief Sheikh Rasheed said on Sunday that Pakistan Tehreek-e-Insaf (PTI) Chairman Imran Khan will give a call to his supporters to march towards Islamabad once the flood situation eases down. Rasheed took to his Twitter handle and warned: “Sitambar Sitamgar ho ga (September will be cruel)”. The former…
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‘Pakistan is not going to default’: Miftah Ismail
The pressure on the Pakistani rupee will “vanish” in a few weeks, according to Finance Minister Miftah Ismail, who also stated that Pakistan is not going to default. He predicted that dollar inflows into Pakistan will exceed dollar outflows soon, creating a “stable exchange rate”. Additionally, he said that within three months, imports will “organically”…
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Economic crisis: Finance minister in Doha to hold talks with IMF
Finance Minister Miftah Ismail along with his team left for Doha on Tuesday to hold talks with the International Monetary Fund (IMF). The ministry said that talks with the IMF mission started today (May 18). The review talks are expected to continue for a week and will focus on striking a staff-level agreement for the…
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New bank timings announced by SBP, Saturday will now be observed as a working day
Pursuant to the federal government’s directive issued on April 13, the State Bank of Pakistan (SBP) would observe a six-day work week with amended timings. During Ramzan, working hours for the central bank, development finance institutions (DFIs), microfinance banks (MFBs), and all commercial banks, are as follows: Monday to Thursday and Saturday from 8:00 am to…
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SBP determined to curb inflation, improve foreign exchange reserves
In a recent interview, the Governor of the State Bank of Pakistan (SBP), Dr. Reza Baqir expressed concern over the continuous deterioration in foreign exchange reserves but remained optimistic that a renewal of loans will be witnessed in the near future, which, coupled with SBP’s initiatives, will enhance market confidence. He claimed that the decline in…
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Pakistan to import 32.7 million barrels of oil to cover petroleum needs
Under a deferred payment agreement with the Saudi Fund for Development (SFD), Pakistan would acquire roughly 32.7 million barrels (MBL) of crude oil in 2022 to cover its petroleum product needs. The Pak-Arab Refinery Company Limited (PARCO) and National Refinery Limited (NRL) plan to import 16.89 and 15.81 million barrels of oil in the ongoing…
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PM Khan launches Kamyab Pakistan Programme for low sectors
Prime Minister (PM) Imran Khan has inaugurated a Rs1400 billion worth Kamyab Pakistan Programme in order to facilitate the underprivileged sector in Pakistan, reports Radio Pakistan. According to PM Khan, this initiative will bring improvement in the living standards of the public and his government is trying to change priorities to uplift unprivileged families. While talking…
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PM carries the ‘begging bowl’ with him everywhere
Pakistan People’s Party (PPP) chairperson Bilawal Bhutto-Zardari on Monday chastised Prime Minister Imran Khan, blaming him for not caring about the common man’s problems in Pakistan. In a statement, Bilawal held PM Khan responsible for the dreadful economic situation of the country, adding that “every Pakistani is paying the price of Imran Khan’s ‘Change Tsunami’”…
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‘Imran govt received loans worth Rs15,000 Arab’
Pakistan Muslim League-Nawaz (PML-N) leader Maryam Nawaz has accused the Prime Minister (PM) Imran Khan-led Pakistan Tehreek-e-Insaf (PTI) government of seeking whopping Rs15,000 Arab (Rs15,000 billion) in loans while “not laying down a single brick, and launching only failed projects”. “The [government] took loans of Rs15,000 billion but did not lay a single brick,” Maryam…