$10-12 billion financing gap being faced by Pakistan, says IMF
IMF team has projected that pressures of twin deficit would continue for Pakistan in FY19, as it assessed budget deficit may cross 6 percent of Gross Domestic Product (GDP) against an official estimated target of 5.1 percent of GDP
Development allocation for CPEC projects revised to Rs193 billion
From the entire allocation of Rs406.631 billion for development projects, the government has reserved Rs72.685 billion for energy, Rs250.837 billion for transport and communication, Rs64.244 billion for water sector and Rs18.866 billion for physical planning and housing
Govt reimposes restrictions on non-filers as NA approves amended finance bill
Non-filers will be unable to purchase vehicles, properties worth over Rs4m until they pay their returns
Pakistan, KSA agree to negotiate on proposed FTA
-- Official says Saudi Arabia will get same trade facilities as China
ISLAMABAD: Pakistan and the Kingdom of Saudi Arabia (KSA) agreed on Wednesday to...
Rupee under pressure amid regional currency turmoil
Experts say currency is likely to remain under depreciatory pressures with weaker external finances
Finance Ministry asks provinces to reconstitute much-delayed NFC Award
ISLAMABAD: As the provinces are yet to respond to the letters sent by Finance Minister Asad Umar last month, the Ministry of Finance...
ECC defers electricity price hike
- Committee approves export one million metric tonne surplus sugar
- Special committee formed to address K-Electric issues
ISLAMABAD: Finance Minister Asad Umar chaired the...
Pakistan seeks to build oil refinery near Gwadar port: minister
Local media have reported that Islamabad is hoping for a deferred-payment deal for Saudi oil to help shore up foreign reserves and possibly even a bridge loan of around $2 billion
IMF’s Lagarde warns trade conflicts dimming global growth outlook
Lagarde, in a speech ahead of the IMF and World Bank’s annual meetings next week in Indonesia, said growth was at its highest level since 2011, but had plateaued, with fewer countries participating in the expansion
Govt rebuffs Saudi offer to acquire LNG power plants under sovereign deal
According to sources, Saudi Arabia asked Pakistan to give free land, complete security and utility facilities for establishing an oil refinery having 100,000 barrel per day (BPD) capacity at Gwadar
Revenue collection under sales tax & FED plateaued in July-Sep FY19
During the first quarter of FY19, FED collection plunged by 30 percent to Rs2.069 billion against Rs2.94 billion in the corresponding period of FY18
Dawood invites Saudi Arabia to invest in Pakistan
The Saudi delegation comprised of high-level officials of various government departments as well as representatives of Saudi Aramco, Maaden and ACWA power
Trump hits Brazil, India commerce after clinching North American trade deal
Trump’s “America First” trade policies, particularly his escalating trade war with China, are aimed at boosting U.S. manufacturing, but they have spooked investors who worry that supply lines could be fractured, and global growth derailed
IMF urges govt to raise more revenues and focus on structural reforms
Sources disclosed the IMF team saw the reliance on provincial cash surpluses worth Rs286 billion other additional subsidy elements not included in the updated budgetary forecasts may cause slippages
Govt finalises amendments in anti-money laundering laws
-- Finance Minister reiterates govt’s resolve for an effective campaign against money laundering and transfer of money through non-banking channels
ISLAMABAD: A high-level meeting...