By Staff Reporter
ISLAMABAD: Pakistan has granted a foreign donor’s contractors a PKR 2.5-billion tax exemption as part of bilateral treaty obligations, Independent Pakistan can report.
Economy
Islamabad: Federal Minister for Finance and Revenue Mr. Miftah Ismail presided over meeting of the Economic Coordination Committee (ECC) of the Cabinet at Finance Division- 28-05-2022.
Strategic Stock: ECC gives assent to wheat, urea import
By Staff Reporter
ISLAMABAD: The Economic Coordination Committee (ECC) of the Cabinet on Saturday green-signalled the import of 3 million tonnes of wheat and 200,000 tonnes of Chinese urea to build strategic stocks to cushion any supply shocks.
Done Deal? Finmin sees IMF staff-level agreement in June
By Staff Reporter
ISLAMABAD: The government is well-positioned to cut a staff-level deal with the International Monetary Fund (IMF) next month, the country’s finance, said on Saturday, making a headway toward reclaiming a nearly lost bailout loan.
Islamabad. Federal Finance Minister Miftah Ismail addressing an important press conference.
Pakistan drives up fuel prices to dodge default
Staff Reporter
ISLAMABAD: A default-threatened PML-N government took its most reluctant plunge and raised fuel prices to pave the way for an IMF bailout, ignoring the political cost of the move.
IMF to wait and see the next budget before bailout revival
By Staff Reporter
ISLAMABAD: With Pakistan and the International Monetary Fund (IMF) deadlocked over the issue of energy subsidies, the revival of a suspended Fund bailout will have to wait until after the approval of the national budget for the next fiscal, it became clear late Wednesday.
Former govt’s growth strategy on Sharif’s kill list
By Staff Reporter
ISLAMABAD: Three-Year Rolling Growth Strategy, a brainchild of the PTI government, evolved to reorient policies and incentive structures for the private sector, is on Shehbaz regime’s list.
IMF Talks: A trial by subsidies
By Staff Reporter
ISLAMABAD: Pakistan’s economic negotiators are one by one pulling every gambit in the book to crack the IMF code that unlocks dollar inflows through a $6 billion bailout programme within this week. The ongoing Pakistan-IMF talks in Doha can go three possible directions.
The lie of the numbers
By Staff Reporter
ISLAMABAD: When they couldn’t find an exorcist to drive the demons possessing the economy out, some number-crunching wizkid pitched the idea of rebasing the economy to shave some decimals off those hairy figures, which the PTI-led regime’s likely fifth column found quite clever and convinced Imran Khan to go for it.
SBP moves against inflation with 150bsp rate hike
By Staff Reporter
KARACHI: The central bank raised its benchmark interest rate by 150 basis points to 13.75 percent, the second hike in less than two months, to tame runaway inflation as policy makers try to win a bailout from the International Monetary Fund without meeting the politically tough condition of increasing fuel prices.
Import restrictions arrive to help balance budget
By Staff Reporter
ISLAMABAD: Prime Minister Shehbaz Sharif’s administration Thursday slapped a ban on luxury imports as a step towards balancing the country’s broken budget, demonstrating it means business when it comes to redressing the country’s festering economic woes.