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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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Petroleum prices to stay unchanged

ISLAMABAD: Petroleum prices will remain unchanged for the month of July as the government has made adjustments in tax rates, according to an official announcement. The decision was taken to provide relief to the consumers, said a statement issued by the finance ministry. It said the government had decided not …

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Facebook’s digital currency may flourish where banks don’t

NEW YORK: Europeans and Americans have their Visa and Mastercards. For everyone else, here comes … Libra? Facebook’s new Libra digital currency is aimed at a huge potential market for financial services the entire developing world, with billions of people in areas such as India and Sub-Saharan Africa, where financial …

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World Bank approves three projects for Karachi

ISLAMABAD: The World Bank has approved three projects for Karachi that will help improve urban management and investment environment; mobility, accessibility and safety along selected corridors; and access to safe water services. These projects, approved on Thursday, build on findings of the ‘Karachi Transformative Strategy’ which estimates infrastructure needs of …

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Trump, Xi set for high-stakes trade war talks in Japan

OSAKA: U.S. President Donald Trump and Chinese President Xi Jinping are set for a high-stakes meeting in Japan on Saturday that could salvage trade talks or plunge the world’s two largest economies into a deeper trade war. The dispute has already cost companies in both countries billions of dollars, disrupted …

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