ISLAMABAD, Feb 1 (EW): The government has prepared a revised Circular Debt Management Plan (CDMP)for slashing the flow of this monster by taking all kinds of measures, including raising the electricity tariff by Rs6.32 per unit. Despite raising the eletricity tariff by Rs 6.32 per unit, the revised CDMP has estimated that it requires an additional subsidy of Rs675 …
ISLAMABAD, Feb 1 (EW): The International Monetary Fund (IMF) on Tuesday expressed concerns that the opposition might create hurdles in the way of implementing tough economic decisions, urging the government to meet all the “requirements” for the completion of the much-delayed programme review. Nathan Porter, the visiting mission chief of the IMF, raised the question about the implication of …
Barrick Gold Corporation has paid the first $3 million to the Balochistan provincial government as part of the new Reko Dig agreement, said the company in a press release. Barrick shared that after the completion of legal process last month, the Balochistan government and the company agreed on a timetable for the disbursement of the committed funds to the …
ISLAMABAD,Jan 31 (EW): A local court on Tuesday said that it would hear the arguments of all the parties on the post-arrest bail plea of Pakistan Tehreek-e-Insaf (PTI) Senior Vice President Fawad Chaudhary tomorrow (February 1). Additional District and Sessions Judge Faizan Haider Gillani was hearing Fawad’s plea seeking release on bail in the sedition case filed against him on the …
ISLAMABAD, Jan 31 (EW): The review mission of the International Monetary Fund (IMF) led by its chief Nathan Porter, called on Finance Minister Ishaq Dar in Islamabad on Tuesday and said that he expected Pakistan to meet the international money lender’s requirement “in time”. The IMF mission is in Pakistan to deliberate on policies aimed at restoring domestic and …
The Pakistani rupee is expected to weaken further, particularly with Pakistan’s balance of payments positions likely to remain weak for several more months, Fitch Solutions predicted on Tuesday. It warned that the rupee depreciation will have broader economic implications for the country which is already gripped by a major economic crisis, with the local unit plummeting, inflation soaring and energy …
ISLAMABAD, Jan 31 (AFP): Pakistan is gripped by a major economic crisis, with the rupee plummeting, inflation soaring and energy in short supply as IMF officials visit to discuss a vital cash injection. Prime Minister Shehbaz Sharif for months held out against the tax rises and subsidy slashing demanded by the International Monetary Fund, fearful of backlash ahead of …
PESHAWAR, Jan 31 (EW): The caretaker government in Khyber Pakhtunkhwa announced one-day mourning across the province on Tuesday as a suiside attack on a mosque in Police Line area of Peshawar claimed at least 83 lives and injured 157 others. Caretaker KP Chief Minister Mohammad Azam Khan ordered that national flags at all government buildings will fly at half-mast …
LAHORE, Jan 29 (EW): The All Pakistan Public Transport Owners Federation (APPTOF) on Sunday announced 10 per cent increase in the inetrcity fares following a massive hike in the petroleum prices. According to the federation s spokesman, the participants of the meeting opined that considerable increase in diesel prices would destroy the transport system across the country. The spokesman said …
Water and Power Minister Khurram Dastgir on Sunday said that the government was not considering an immediate increase in the price of electricity despite the government jacking up tariffs of petrol and diesel. He said this at a function organised at the Governor House in Peshawar regarding the inclusion of electricity produced privately for PESCO’s system in Upper Chitral. …
