PIA blamed for violation of loan conditions | The Express Tribune

ISLAMABAD: Pakistan’s economic managers have voiced concern over alleged violation of the terms of a loan acquired by Pakistan International Airlines (PIA) to address the financial challenges faced by Roosevelt Hotel, New York, which is owned by the airline. Sources told The Express Tribune that the matter was taken up during a recent meeting of […]

PPP made privy to harsh IMF conditions | The Express Tribune

As the size of the new budget is likely to soar by 30% to a record Rs18.9 trillion due to additional expenditure demands, the PML-N government on Wednesday took its main ally—the PPP—into confidence about the harsh conditions set out by the International Monetary Fund (IMF). The tax target for the Federal Board of Revenue […]

IMF sets conditions for power bill relief | The Express Tribune

ISLAMABAD: The International Monetary Fund (IMF) has urged the caretaker government to improve its power generation system in order to provide relief to Pakistani consumers, while demanding that the government withdraw the subsidy it is providing on gas being supplied to captive power plants (CPPs). The IMF made this demand during its talks with the […]

Petrol, diesel prices increased massively due to ‘IMF conditions’

An employee of a gas station fills the tank of a motorbike in Karachi, on July 16, 2021. — AFP The federal government has decided to increase the price of petroleum products in Pakistan by Rs19.95 per litre for the next fortnightly review, Finance Minister Ishaq Dar announced Tuesday, in line with commitments made to […]

Conditions for $10b refinery project met | The Express Tribune

ISLAMABAD: Pakistan has taken a significant step towards commencing the construction of the $10 billion refinery in Balochistan by reaching an agreement with a Chinese company on Thursday, granting it the construction rights for the project. The Pakistan State Oil (PSO) inked a Memorandum of Understanding (MoU) with the Chinese company to secure the engineering, […]

IMF spells out stringent conditions for $3b breather | The Express Tribune

ISLAMABAD: The International Monetary Fund (IMF) has slapped a stringent condition on Pakistan to stop its intervention in the exchange rate market and also said that the risks to the new $3 billion programme implementation were “exceptionally high”. The global lender on Tuesday released its staff report on the $3 billion Stand-by Arrangement (SBA) that […]

Crucial $3b IMF lifeline comes with tough conditions | The Express Tribune

LAHORE: Pakistan secured a badly-needed $3 billion short-term financial package from the International Monetary Fund on Friday, giving the economy a much-awaited respite as it teeters on the brink of default. The IMF said it had reached an agreement on the deal with the 220 million nation, which will now be subject to approval by […]

Pakistan meets all IMF conditions: Dar | The Express Tribune

ISLAMABAD: Federal Minister for Finance Ishaq Dar has claimed that Pakistan has met all the conditions set by the International Monetary Fund (IMF) for a staff-level agreement and that the lender’s mission for review will soon get a staff-level agreement approved by the fund’s executive board. “The IMF will soon sign the staff level agreement […]

Ishaq Dar hopes IMF will soon sign deal with Pakistan as ‘all conditions fulfiled’

Finance Minister Ishaq Dar speaks during a press conference in Islamabad on February 10, 2023. — AFP ISLAMABAD: Finance Minister Ishaq Dar on Monday said that Saudi Arabia and United Arab Emirates (UAE) have assured their commitments to provide $3 billion to Pakistan, hoping that the inflation-stricken country will soon seal the deal with the International Monetary […]

We have to fulfill IMF conditions as there’s no other option: PM Shehbaz

Prime Minister Shehbaz Sharif addresses a ceremony in Lahore, on April 15, 2023. — PID LAHORE: Prime Minister Shehbaz Sharif on Saturday lamented that it’s a tough time and the authorities have to fulfil the “tough” conditions of the International Monetary Fund (IMF) as there is no other option.” Addressing a ceremony after reviewing the construction […]

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