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Bridging The Gap
Pakistan needs to go for high value-added export basket Pakistan needs to go for high value-added export basket
Pakistan’s terms of trade, which measure the ratio of export to import prices, have not only been adverse, but have also deteriorated over the years, which has adversely impacted the economy in terms of growth and balance of payments. If an economy’s terms of trade are less than 100%, they are regarded as adverse. This signifies that capital inflows into the economy in the form of export receip...
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Assessment report: Moody’s terms IMF bailout crucial for Pakistan Assessment report: Moody’s terms IMF bailout crucial for Pakistan
An International Monetary Fund (IMF) bailout programme is crucial for Pakistan to meet its $30 billion external financing needs, said Moody’s Investors Service while casting doubt over the government’s plan to restrict the budget deficit to 5.1% of GDP without additional measures. “An IMF programme will not only bridge the financing gap but will also serve as a strong signal to other official s...
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128 more fake bank accounts traced, says PM Imran 128 more fake bank accounts traced, says PM Imran
Prime Minister Imran Khan has revealed that authorities have found 128 more bank accounts through which billion of rupees were laundered outside the country. “The opposition is raising a hue and cry over ‘threats to democracy’ as it is afraid of going to jails. Even enemies do not treat you the way previous governments treated the country,” Imran Khan said on Wednesday. The PM was talking to...
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‘Inevitable’ electricity tariff hike put off for now ‘Inevitable’ electricity tariff hike put off for now
The government on Tuesday announced to take ‘decisive action’ on electricity tariff aimed at avoiding Rs420 billion annual subsidies but approved to supply subsidised gas to five export oriented sectors that will cost taxpayers Rs63.5 billion. The Economic Coordination Committee (ECC) of the Cabinet allowed provision of imported Re-gasified Liquefied Natural Gas (RLNG) to five Punjab-based indu...
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ECC likely to approve up to 26% hike in power tariff ECC likely to approve up to 26% hike in power tariff
The Economic Coordination Committee (ECC) of the cabinet, scheduled to meet on Tuesday, is likely to approve an increase of up to 26% in power tariff for different categories of consumers. Officials of the Ministry of Energy (Power Division) said the power price hike was necessary because of the fresh tariff determined by the National Electric Power Regulatory Authority (Nepra) which was higher...
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PML-N improves showing in NA, PA PML-N improves showing in NA, PA
The Pakistan Muslim League-Nawaz (PML-N) on Sunday managed not only improved its position in the National Assembly by bagging four NA seats, it also extended gains in the Punjab Assembly by securing five seat, according to results compiled by The Express Tribune. According to details, PML-N had vacated only one of the 11 NA seats up for grabs in the by-election, whereas PTI had vacated six and ...
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History to prove July 25 polls as most transparent: DG ISPR History to prove July 25 polls as most transparent: DG ISPR
Major General Asif Ghafoor, the premier spokesperson of Pakistan Army, has said the July 25 general elections were the most transparent in the country’s democratic history. People voted according to their wishes, but allegations of rigging were hurled at the armed forces of the country, said the DG Inter-Services Public Relations (ISPR) while having an informal interaction with the media in Lon...
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Govt seeks parliamentary probe into financial woes Govt seeks parliamentary probe into financial woes
The government on Thursday decided to seek the formation of a parliamentary committee to probe the financial decisions taken during the last 10 years that resulted in the worst financial crises the country was in today. “I will move [a] resolution in [my] personal capacity. I have discussed it with Prime Minister Imran Khan, who also approved the idea, directing that it should be done at the ea...
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PM vows to correct economy in six months PM vows to correct economy in six months
Rejecting criticism over seeking the International Monetary Fund (IMF) bailout package, Prime Minister Imran Khan on Wednesday said it will take at least six months before the corrective economic measures taken by his government start showing results. The prime minister said a whopping current account deficit, unprecedented loans and dwindling exports forced the government to obtain the fresh l...
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Pakistan knocks at IMF door to avoid default Pakistan knocks at IMF door to avoid default
After weeks of dilly-dallying, Pakistan on Monday announced approaching the International Monetary Fund (IMF) for a bailout package aimed at avoiding default on international debt obligations and restoring confidence among the investors. “After taking into account the current situation and consultation with leading economists, the government has decided to approach the IMF for a bailout program...
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