Tag: Subsidies
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Over Rs6.4 billion allocated for Ramzan subsidies: Essential items to be available at reduced rates
The government has earmarked Rs6.484 billion to provide essential food items at subsidised rates through the Utility Stores Corporation (USC) during the holy month of Ramzan.
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Pakistan may enter fresh IMF loan programme, stricter conditions expected
In the wake of the completion of its current loan programme, Pakistan is poised to sign a new loan agreement with the International Monetary Fund (IMF), reports indicate.
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Govt hints at major taxation system overhaul in economic revival drive
The federal government is contemplating significant changes to the tax structure in its economic revitalisation plan, with a particular focus on sectors like retail, agriculture, and real estate. Additionally, the plan includes the introduction of a wealth tax on movable assets. These proposed revisions were outlined in the Ministry of Finance’s September 2023 Economic Update…
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Inflation in Pakistan stays above 27% despite IMF reforms
Pakistan continues to grapple with soaring inflation, with the rate holding steady at 27.4 per cent in August, according to data released on Friday. This persistent inflationary pressure is partially attributed to the reforms mandated as part of the IMF loan agreement, which have complicated efforts to stabilise prices and curb declines in the national…
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Economic situation worse than expected, subsidies not feasible: Finance Minister
In the midst of Pakistan’s ongoing battle with rising prices, the country’s interim Finance Minister, Shamshad Akhtar, issued a strong warning on Wednesday. She pointed out that Pakistan’s economic situation is even “worse” than expected, and the government can’t afford to provide subsidies to the public due to financial constraints.
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Finance Minister rejects idea of coalition govt entering fresh IMF programme
Pakistan’s Finance Minister, Ishaq Dar, has voiced his opposition to the idea of entering into a new International Monetary Fund (IMF) bailout program without the consent of the incoming government.
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Pakistan’s hopes for IMF agreement rise as Saudi Arabia confirms $2 billion in additional deposits
The International Monetary Fund (IMF) has informed Pakistan that Saudi Arabia has confirmed $2 billion in additional deposits, which has rekindled hopes of an early agreement signing. Since January, Islamabad has been negotiating with the IMF for the release of $1.1 billion from a $6.5 billion bailout package that was agreed upon in 2019. To…
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IMF chief wants the poor people of Pakistan to be protected
The IMF has recommended that Pakistan focus on raising tax revenues and redistributing subsidies towards the poorest members of society. As Pakistan faces a looming balance of payment crisis, it will require a fresh loan from the IMF to manage external debt servicing requirements.
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Pakistan impresses IMF with speedy implementation of agreed measures
Aisha Ghaus Pasha, the Minister of State for Finance and Revenue, announced that the International Monetary Fund (IMF) is not only satisfied, but is also surprised by the speedy implementation of the agreed measures.
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PM Shehbaz approves hike in gas and electricity tariffs to fulfill IMF demands
With only three days remaining to resolve differences, Prime Minister Shehbaz Sharif approved an increase in electricity prices on Monday in an attempt to reach an agreement with the International Monetary Fund (IMF). The annual base tariff is expected to increase by approximately 33 per cent. The decision was made during a virtual meeting held…