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Pakistan to receive $1 billion instalment from IMF today

  ISLAMABAD: Pakistan will receive the $1 billion instalment from the International Monetary Fund’s (IMF) under the recently concluded $6bn bailout package today. Speaking at a news conference on Monday, IMF chief mission chief for the country Ernesto Ramirez-Rigo said the bailout package for Pakistan was aimed at stability of …

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$35m project to improve water management, agriculture

ISLAMABAD: The board of Green Climate Fund (GCF) on Sunday approved financing of $35 million for a project of the Food and Agriculture Organisation (FAO) of the United Nations to transform the Indus River Basin by improving agriculture and water management to make the vital food-producing region more resilient to …

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Karachi traders call off three-day strike

KARACHI: The traders of Karachi on Sunday called off their three-day strike, which was supposed to begin from Monday (today), on the assurance given by Sindh Governor Imran Ismail that the government was prepared to address their reservations on tax issues. The governor extended this assurance to a delegation of …

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Cement sales plunge; steel bar prices rise

KARACHI: The average daily cement supplies into the market plunged by 73 per cent to 40,000 tonnes from 150,000 during the first three days of this fiscal year. The decline came after government introduced amendments to the Sales Tax Act in the budget 2019-20 mandating sellers to include buyers’ CNIC …

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IMF okays $6bn package to ‘foster strong growth’

  WASHINGTON: The Executive Board of the International Monetary Fund (IMF) on Wednesday approved a $6 billion bailout package for Pakistan and immediately released $1bn to ease a sustained pressure on the country’s foreign exchange reserves. The package, which supports the government’s efforts to revive the country’s ailing economy, includes …

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IMF executive board meets today to decide Pakistan bailout

ISLAMABAD: The Executive Board of the International Monetary Funds (IMF) in its Washington meeting on Wednesday (today) will decide about the bailout package to Pakistan, ARY News reported. Pakistan’s government and the IMF had already signed staff agreement on May 12. The Executive Board of the IMF will give its …

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Deadline to declare assets under Assets Declaration Scheme ends today

ISLAMABAD: Deadline to declare assets under Assets Declaration Scheme through a Presidential Ordinance ending on Wednesday (today). According to Chairman Federal Board of Revenue (FBR) Shabbar Zaidi one lac five thousand people have benefited from the scheme. He expressed hope that the government would be able to collect tax worth …

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SBP says did not order banks to block accounts without biometric verification

KARACHI: The State Bank of Pakistan (SBP) did not order the country’s banks to block accounts operating without biometric verification, a spokesperson for the central bank said Monday. The service of processing biometric verification would continue, the spokesperson said, reiterating that the monetary authority did not instruct any banks in …

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