As per details, the PIA privatization issue was discussed in the National Assembly. Former commerce minister Naveed Qamar raised concerns about the privatization efforts, recalling a previous unsuccessful attempt during today’s NA session. “What timeline has been set for this initiative?” he inquired, adding that the privatization process needs to be carefully planned. In response, […]
According to sources, the IMF has reportedly agreed to the elimination of sales tax on aircraft purchase or lease for buyers and the settlement of equity losses for PIA privatization. With the ‘approval’ of the IMF, the intended buyers will be granted sales tax exemptions for purchasing or leasing aircraft for all routes. The removal […]
Pakistan has finalized a new financial agreement with IMF, securing a $7 billion bailout package under the Extended Fund Facility (EFF). The loan comes with a comparatively low interest rate of around 5 percent, significantly below the rates Pakistan faces on commercial borrowing. The repayment plan spans 10 years and includes a grace period. Pakistan […]
As per sources, one of the primary concerns of Pakistan is the privatization of DISCOs, which is feared to remain incomplete by January. The target to maintain foreign exchange reserves equivalent to three months of import bills by March is also at risk. The well-placed sources said that revenue targets are unlikely to be met […]
According to sources, the price of high-speed diesel has increased by Rs 12.14 per liter since October 16, while the price of petrol has risen by Rs 5.07 per liter during the same period. The government has increased the price of high-speed diesel three times and petrol twice over the past month and a half. […]
An unprecedented financial crash in 2022 brought months of consumer goods shortages, with inflation peaking at nearly 70 percent that year. Since then, a $2.9 billion bailout loan from the International Monetary Fund (IMF), tax hikes, and austerity measures have slowly made headway in repairing the island’s economy. “Headline inflation will remain negative in the […]
Speaking at the 26th National Security Workshop at the National Defence University, the prime minister remarked, “If we are economically strong, with growing exports and an expanding industrial sector, our economic security will automatically bolster our critical national security.” Highlighting the government’s dedication to implementing a comprehensive “Charter of Economy,” the prime minister recalled proposing […]
According to sources, the IMF agreed to provide $1 billion in climate financing after the first quarterly economic review, expected to occur in March. Sources revealed that the climate financing will be part of the Extended Fund Facility (EFF) loan program, which will become the largest program in Pakistan’s history once approved. The economic team […]
Dissanayake, whose leftist coalition won 159 seats in the 225-member parliament in the general election, also reappointed veteran legislator Vijitha Herath to helm the foreign affairs ministry. Dissanayake did not name a new finance minister during Monday’s swearing-in, signaling that he will keep the key finance portfolio himself as he had done in September after […]
The unusual visit from Nov 12 to Nov 15 discussed a $7-billion bailout within six weeks of its approval by the IMF board but came too early for the first review of the Extended Fund Facility (EFF), due in the first quarter of 2025. “We are encouraged by the authorities’ reaffirmed commitment to the economic […]
