Shahbaz Rana

  • TISLAMABAD- International Monetary Fund has in principle endorsed Pakistan's home-grown economic stabilization package and agreed to provide US $ 4.6 billion within 14 days of a formal request. Reliable sources in the Finance Ministry told TheNation that the Fund "by and large accepted the home ...

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  • TISLAMABAD - International Monetary Fund is likely to accord approval, in principle, to Pakistan's economic stabilization package, paving the way for an earlier release of loans direly required for economic stability, says Shaukat Tarin. Advisor to Prime Minister on Finance, Shaukat Tarin, ...

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  • TISLAMABAD- Pakistan's total public debt, which is already a whopping Rs 6.8 trillion, will see new heights in coming months, as the government is all set to borrow heavily from the world donors, violating the Fiscal Responsibility and Debt Limitation Act, 2005.     Finance ...

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  • TISLAMABAD - The government, under a Memorandum of Understanding with CNG Associations, is going to raise rates of Compressed Natural Gas as soon as it prescribes new prices for gas distribution companies. The new increase will be equal to what the government is going to give to gas distribution ...

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  • TISLAMABAD - Pakistan, which immediately needs $5 billion to help keep economy afloat, will obtain loan from International Monetary Fund under Stand-By Arrangement, carrying comparatively higher interest rate but no limit on borrowing as against the 1990s programme, says Shaukat Tarin.   The ...

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  • TISLAMABAD - An endorsement of Pakistan's economic stabilization package by International Monetary Fund will almost certainly lead to more taxes and a further interest rate hike, at a time when the government is already doing away subsidies on oil and electricity. The IMF issues a Letter of ...

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  • TISLAMABAD - A Pakistani delegation has flown to Abu Dhabi to negotiate with International Monetary Fund, which would review the health of Pak economy and the outcome would determine the fate of $3 to 4 billion aid from the multilateral donors. Pakistan is scheduled to hold very crucial ...

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  • TISLAMABAD - Pakistan would have to knock the door of International Monetary Fund (IMF), if it could not get much-needed financial assistance from other world donor agencies and Friends of Pakistan during next month and a half, says Shaukat Tarin, Advisor to Prime Minister on Finance.    ...

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  • TISLAMABAD - The independent panel of economists will submit its interim home grown economic stabilisation package to Prime Minister Syed Yousuf Raza Gilani on October 25, which has forecast less than 5 per cent annual economic growth and about 20 per cent inflation. The Panel of Economists, ...

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  • TISLAMABAD - The government has committed to giving another 'dose' of 31 per cent hike in power tariffs to masses before June 2009 in the wake of skyrocketing inflation.    Reliable sources in the Ministry of Finance revealed to TheNation that the government had given its words to ...

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  • TISLAMABAD- The government is likely to provide guarantees for Rs 15 billion-syndicated loan for power generation and distribution companies to pay off dues to oil and gas sectors after commercial banks' refusal to entertain their request without sovereign assurance. Economic Coordination Committee ...

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  • TISLAMABAD - The government has approved 47 development schemes with an estimated cost of Rs 50.1 billion, which would be completed during the next three to eight years. Central Development Working Party, headed by Deputy Chairman Planning Commission M Salman Faruqui, approved these projects ...

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  • TISLAMABAD - The Asian Development Bank (ADB) will provide US $2 billion for Accelerating Economic Transformation Programme (AETP), targeted to correct macroeconomic distortions and ensure 8 per cent annual economic growth. Finance Ministry sources Friday told TheNation that the plan resembled ...

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  • TISLAMABAD - The government has appointed Shaukat Tareen as Advisor to Prime Minister on Finance, Revenue and Economic Affairs, giving him a task to recover the sinking economy and take the country out of a looming threat of default on sovereign bonds.   Finance Ministry sources told ...

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  • TISLAMABAD- Federal Board of Revenue (FBR) has collected Rs 253.4 billion taxes during first quarter of the fiscal year 2008-09 that is one-fifth of the annual target, providing a sigh of relief to the cash-starved government.   Provisional figures of Federal Board of Revenue, the national ...

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  • TISLAMABAD - The Ministry of Petroleum has floated a proposal of one-day weekly gas holiday for the whole industry to overcome gas shortage in winter and ensure its uninterrupted supply to the domestic consumers. The Ministry of Petroleum and Natural Resources Monday briefed the Economic ...

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  • TISLAMABAD " The government on Wednesday increased an average interest rate of 1.6 per cent on national saving schemes to encourage the saving culture and ultimately reduce dependence on State Bank of Pakistan borrowing, which is inflationary in nature. The new rates will be effective from ...

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  • TISLAMABAD - The government's efforts to recover dwindling economy faced another setback when on Tuesday Moody's, an international credit rating agency, cut its outlook for Pakistan sovereign bond from stable to negative. The Moody's says depleting foreign exchange reserves and risks to economy ...

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  • TISLAMABAD - Much-trumpeted Economic Stabilization Package is hanging in the balance due to persistent security dilemma and its failure will lead to drastic steps including compression of imports and restricted capital out flight. The government on last Friday announced multi-pronged Economic ...

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  • TISLAMABAD - In a bid to bail out dwindling economy, the government Friday unveiled multi-pronged stabilization package to lessen fiscal burden and increase resources by withdrawing subsidies, generating more revenue and a speedy privatization process. Implementation of the package, which ...

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  • TISLAMABAD- The government Thursday approved 51 development schemes with a total cost of Rs 262.4 billion including land acquisition project for multi-billion dollars Diamer Basha Dam. Central Development Working Party in its maiden meeting of fiscal year 2008-09, approved/recommended 51 ...

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  • TISLAMABAD - Inflation will be the highest and the economic growth will be the lowest in Pakistan among all South Asian countries because of increasing insecurity at Western borders, says Asian Development Bank Outlook 2009, which forecasts missing of all economic indicators. The ADB, a ...

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  • TISLAMABAD - International Monetary Fund (IMF) has shown concerns over less tax collection, borrowings from State Bank of Pakistan and budget deficit during its meeting with Planning Commission. Planning Commission (PC) sources told TheNation that the IMF Mission, led by Juan Carlos Di Tata, ...

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  • TISLAMABAD - A panel of independent economists, backed by the government, has set up four task forces to sail the country out of worsening financial crisis. Planning Commission's Panel of Economists on Sunday formed the committees to come up with innovative proposals within next four to ...

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  • TISLAMABAD - Pakistan has imposed regulatory duty on exports of high-speed diesel and superior kerosene oil to Afghanistan in order to discourage supply of subsidised oil to the war-torn country. The government has levied Rs 13.62 per litre duty on export of high-speed diesel, equivalent to the ...

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  • TISLAMABAD - International Monetary Fund on Friday started consultations with the economic managers to find ways to take Pakistan out of deep troubled waters on economic front.   A team of the Fund, which is in the town on the government invitation, had an introductory briefing from the ...

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  • TISLAMABAD - Pakistan has not initiated any reform to ease out regulatory burden of doing business during the last one year, says the World Bank in its report 'Doing Business 2009' where the country scored 77 among 181 world nations. The World Bank on Wednesday unveiled its annual report 'Doing ...

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  • TISLAMABAD- The government in principle has decided to reinstate thousands of sacked employees of National Commission for Human Development, bringing an end to two months old controversy.    Planning Commission sources told TheNation that a Special Committee on National Commission for ...

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  • TISLAMABAD- The government has reappointed the senior most bureaucrat, Dr Waqar Masood, as Secretary, Finance Division in place of Farrukh Qayum, who has been posted as Secretary, Economic Affairs Division.   The Establishment Division has issued the notification in this regard. The Pakistan ...

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  • TISLAMABAD- Pakistan's overall budget deficit had widened to Rs 777.2 billion or 7.4 per cent of total size of the economy during the last financial year because of the highest current expenditure of the history.   The Finance Ministry has released the summary of Pakistan Fiscal Operations ...

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