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EconomyThe IMF has sought full disclosure of all the financing details regarding CPEC projects with projected inflow and outflow figures for a number of years
EconomyOfficials stated the government is going to approve an SME policy in current FY19 and bolster Small and Medium Enterprise Development Authority (SMEDA) in the next financial year
EconomyPakistan external financing requirements have been revised to $22 billion on expectations that the current government would be able to rein in current account deficit to $13 billion in current FY19
HeadlinesMinister of State for Revenue Hammad Azhar on Friday told the Senate that hackers had stolen $6 million from the accounts of 6,000 BankIslami customers within 23 minutes last month
EconomyAccording to sources, an interest rate of 2.18% will be charged on the $3 billion to be deposited in the central bank
EconomyThe forthcoming IMF programme envisages an adjustment between Rs1,600 to Rs2,000 billion over a three to four years duration
EconomyOfficials believe that the existing transmission system didn’t have the proficiency to provide electricity from the new renewable plants
EconomyAccording to the sources, Pakistan had fetched $450 million worth of foreign commercial loans during July-November of FY19 and another $4 billion was required for the remainder of the current financial year
EconomyIn several documents, the government admitted the levying of withholding tax is a huge obstacle to the growth of the banking sector
EconomyWith a blend of new taxes and rupee devaluation, the tax collection could increase to Rs4.5 trillion during the current financial year, Rs5.8 trillion by June 2020 and Rs7 trillion by June 2020, respectively
EconomyBesides these additional Rs190 billion revenue measures, the authorities have suggested that quasi-fiscal losses will be slashed by Rs380 billion during the current financial year
EconomyThe sources stated the non-availability of imported urea was contributing to rising shortage and NFML wasn’t heeding to the ECC directive given last Wednesday calling for the sale of imported urea