Economy

The Executive Board of the International Monetary Fund (IMF) approved a 39-month extended arrangement under the Extended Fund Facility (EFF) for Pakistan for an amount of SDR 4,268 million (about US$6 billion or 210 percent of quota) to…
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ISLAMABAD: Pakistan will start receiving oil supplies from Saudi Arabia on deferred payments from this month. According to a press release issued by Saudi embassy in Islamabad on Monday, Pakistan will start receiving monthly oil…
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ISLAMABAD: Prime Minister Imran Khan has said that the ruling elite of the past is responsible for the current devaluation of Pakistani rupee as they laundered  money abroad. The Prime Minister also wondered how the looter of the public…
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The World Bank committed $70 million in concessional financing for the Khyber Pakhtunkhwa Integrated Tourism Development Project. This project will invest in infrastructure development, strengthen institutions with business-friendly…
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Prime Minister Imran Khan has urged citizens to avail the government's tax amnesty scheme to whiten their assets as the June 30 deadline for the scheme approaches. On Tuesday, the prime minister appeared on a special transmission on Geo…
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One of the largest Chinese manufacturers of fragrances and perfumes, Guangzhou Rongshen Trading Company has announced that it would invest a whopping $2 million in Pakistan, on Tuesday. The announcement was made by the Board of Investment…
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DOHA: Qatar announced that it would give $3 billion in the form of direct investments and deposits to Pakistan. "Upon the directives of HH the Amir Sheikh Tamim bin Hamad Al-Thani, HE Deputy Prime Minister and Minister of Foreign Affairs…
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ISLAMABAD: On the arrival of Emir of Qatar Sheikh Tamim Bin Hamad Al Thani in Islamabad on 22 June 2019, a Memorandum of Understanding (MoU) on the establishment of “Pakistan-Qatar working group (JWG) on trade and investment was signed…
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ISLAMABAD: Federal Minister for Planning and Development Khusro Bakhtyar has said that China will provide USD 1 billion for socio economic development in Pakistan, Radio Pakistan reported. Speaking at the China-Pakistan Economic Corridor…
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ISLAMABAD: Prime Minister Imran Khan has urged the nation to declare assets before the end of this month in order to steer the country out of economic crisis. In a message that was broadcast on national TV and radio on Friday evening, PM…
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Pakistan Tehreek-e-Insaff-led government presented its first budget on Tuesday. As expected, debt servicing and defence continue to be the two biggest chunks, while the new taxation measures will squeeze an already taxed salaried class.…
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ISLAMABAD: Prime Minister Imran Khan has called upon people to declare their financial assets within the country and abroad by June 30 or be ready for an indiscriminate action. In a video message to the nation, PM Khan his administration…
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A government can raise revenue in several ways - the easiest is to raise petrol prices, at a time when the international price of petrol (and hence the cost of buying petrol) is falling so as to pocket the difference - this also leads to…
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KARACHI: The State Bank of Pakistan raised its key interest rate by 150 basis points to 12.25 percent on Monday over inflationary pressures, a high fiscal deficit, and recent exchange rate depreciation. "Taking into account the above…
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ISLAMABAD: Bulgaria's Deputy Economy Minister Liliya Ivanove said that her country was looking forward to extensive cooperation in the field of agriculture with Pakistan including sustainable export of cotton and rice from Pakistan to…
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