Tag: accepting IMF conditions
-
Govt-IMF agreement- pledging citizens’ economic rights!
Government has indicated further deterioration of public’s economic conditions by signing off an extremely tough agreement with the International Monetary Fund (IMF) in return for a $3.5 billion loan. According to the agreement, the government requires to further raise electricity and gas prices, mini budget and expenditure cut of Rs534 billion on development spending as…
-
SBP receives loan tranche of $1.16bn amid dwindling forex reserves
State Bank of Pakistan (SBP) announced on Wednesday that it has received loan tranche of Extended Fund Facility (EFF) totaling to USD 1.16 billion (equivalent of SDR 894 million). The Executive Board of the International Monetary Fund (IMF) completed the combined seventh and eighth reviews under the Extended Fund Facility (EFF) for Pakistan, allowing the…
-
Petrol price expected to reach Rs.290 per liter!
A private new channel has reported that according to the letter written by the government to the International Monetary Fund (IMF), additional taxes shall be imposed on petroleum products. From 1st Jan 2023, PDL on petrol will be increased from Rs.20 to Rs.50 per liter. The global lender was also assured that the PDL on…
-
Closing the financial gap with $4 billion from friendly countries
The IMF was reported last month to be looking to assess Saudi Arabia’s commitment to financing Pakistan before disbursing funds to the country. IMF wanted to ensure that Saudi Arabia will follow through with as much as $4 billion in funding to Pakistan to ensure Islamabad does not have a financing gap after the IMF loan. Acting…
-
Last step taken towards the IMF bailout programme
After fulfilling various stringent conditions posed by the International Monetary Fund (IMF), after the recent hike in petroleum development levy (PDL), Pakistan has completed the final prior action for the seventh and eighth reviews combined, said by the IMF. It added that the board meeting is tentatively scheduled for late August once adequate financing assurances…
-
Selling SOE’s shares on G2G basis to bridge financing gap
Government is amending laws to facilitate the sale of shares listed SOE’s shares with a buyback option to friendly countries on a G2G basis.
-
Cut in armed forces budget for the sake of IMF deal
One of the key conditions for the revival of IMF program is a primary budget surplus of Rs153 billion, or 0.2 percent of national production
-
IMF program postponed!
The IMF program has been further postponed and the point of dispute is the improvement of anti-corruption regulations
-
Fuel becomes a luxury!
Increase in fuel prices due to petroleum development levy by Rs10 on petrol and Rs4 on diesel to revive the IMF program
-
Pakistani Rupee dives into the sea
Amid prevailing uncertainty, PKR declined around 16.5 percent against the USD and its performance has been marked as worst in whole Asia