Under the deal with the International Monetary Fund (IMF), new taxes worth Rs170 billion will have to be imposed, for which a mini-budget will have to be introduced, Finance Minister Ishaq Dar announced Friday. Dar was addressing a press conference after an IMF mission left Pakistan without signing a staff-level agreement, which the country was relying on to revive …
KARACHI, Feb 9 (EW): For the second straight session, the local currency on Thursday appreciated against the dollar amid news that the International Monetary Fund (IMF) would hand over the draft memorandum of economics and financial policies (MEFP) to Pakistan today. During intra-day trade, the rupee appreciated by 4.83 against the dollar in the interbank market. The greenback is …
ISLAMABAD, Feb 9 (EW): The defence and finance ministries as well as the judiciary have expressed their inability to support the general election process in Punjab and Khyber-Pakhtunkhwa (KPK) and the National Assembly by-elections, citing security, high expenses and lack of manpower as the reasons, according to official sources. The defence ministry has informed the Election Commission of Pakistan …
ISLAMABAD, Feb 9 (EW): Water and Power Development Authority (WAPDA) will add as much as 10,000 MW of low-cost, green and clean hydel electricity to enhance the power generation capacity of the country by 2030. Consequently, the hydel generation would become double to about 20,000 MW from 9,500 MW. In addition, the gross water storage capacity in the country …
ISLAMABAD, Feb 9 (EW): The Pakistani authorities are expecting the International Monetary Fund (IMF) to share the draft memorandum of economic and financial policies (MEFP) with them today despite differences over external financing needs and power sector losses, reported The News. Pakistan and the IMF were scheduled to hold parleys from January 31 to February 9, 2023 for making …
SHEIKHUPURA, Feb 9 (EW): Following the warning of Petroleum Minister Dr Musadik Malik, Punjab police launched action against people involved in the illegal hoarding of petrol and diesel in Sheikhupura, Patoki, Daska and other parts of the province. IG Punjab while ordering a crackdown against hoarding of petrol in the province directed strict action against the guilty. Following the …
KAHRAMANMARAS/ANTAKYA: President Tayyip Erdogan on Wednesday admitted to problems with his government’s initial response to a devastating earthquake in southern Turkey amid anger from those left destitute and frustrated over the slow arrival of rescue teams. Erdogan, who contests an election in May, said on a visit to the disaster zone that operations were now working normally and promised …
ISLAMABAD, Feb 8 (EW): President Arif Alvi has called on the Election Commission of Pakistan (ECP) to announce the election dates for the dissolved assemblies in Khyber Pakhtunkhwa and Punjab. In a letter to the Chief Election Commissioner (CEC) Sikandar Sultan Raja, President Alvi emphasized the primary duty of the ECP to conduct fair and free elections as stated …
Pakistan Cricket Board (PCB) announced on Tuesday the names of the 15 commentators and two presenters for the 34-match Pakistan Super League (PSL) season eight starting February 13. According to a press release issued by the cricket board, a “strong field” of 15 commentators and two presenters has been confirmed to cover the series. The official PSL handle on Twitter, …
QATAR, Feb 8(EW): Qatar said Tuesday it will send 10,000 mobile homes to Türkiye and Syria after the violent earthquakes that struck the two countries. A statement by the Qatari Foreign Ministry said the move “is part of Qatari efforts to contribute to relieving the quake-affected people in Syria and Türkiye.” On Monday, Qatar’s Emir Sheikh Tamim bin Hamad …
