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Karachi: Pakistan’s inflation rate remained over the target in August at 27.4 per cent as reforms outlined as requirements for an IMF loan make it more difficult to control price pressures, ARY News reported citing the official data released on Friday.After the avoidance of a sovereign debt default in July thanks to a USD 3 billion loan programme of the International Monetary Fund (IMF), Pakistan
Islamabad: The International Monetary Fund (IMF) has requested Islamabad to provide a written plan after the government decided to seek clearance from the Washington-based lender about its proposal to ease the burden on furious citizens over a hike in electricity bills, The News International reported citing sources.People across Pakistan have been protesting against the rise in electricity
Islamabad: As Pakistan continues to grapple with high electricity bills, the caretaker government on Thursday further jacked up the petrol and diesel prices by over 14 Pakistani Rupees (PKR) taking the price past 300 PKR, Geo News reported on Friday.The Finance Division said the hike was due to the “increasing trend of petroleum prices in the international market and exchange rate variations”.The
Islamabad: Inflation in electricity prices in Pakistan has been increasing progressively and the electricity bill for July can be likened to the symbolic icing on the cake of an economy that is battling with escalating prices of gas, food grains etc, The The News International reported.The situation will need Islamabad to undertake a number of comprehensive efforts, the daily reported.Within the
Islamabad: Every day in Pakistan, more people are joining the nationwide protest against excessive electricity prices. As a form of protest, people are taking to the streets and burning their banknotes, ARY News reported.Protests against the exorbitant electricity prices have spread across the entire nation, from Karachi to Khyber, and some protests are now turning violent.People in Karachi
Islamabad: Pakistan has requested the Asian Development Bank (ADB) for a USD 300 million loan for the water project, Dawn reported.The cash-strapped country had already secured a USD 3 billion bailout plan from the International Monetary Fund in July, and still, Pakistan is looking for a loan for the Kurram Tangi Integrated Water Resources Development project.This project aims to improve energy,
Islamabad: As the Pakistani Rupee (PKR) goes down steadily against the US dollar, experts and stakeholders in Pakistan point fingers at the powerful grip of the grey market and the “significant interference” by the International Monetary Fund (IMF) in the country’s banking and currency sectors, reported Dawn.According to some of them, it is unprecedented that the IMF allegedly got deeply involved
Islamabad: Pakistan’s short-term inflation has risen 27.57 per cent on a year-on-year basis for the week ending on August 17 largely due to a surge in petroleum prices, showed the official data released on Friday, Dawn reported.Dawn is a Pakistani English-language newspaper.The inflation, however, decelerated from the preceding week’s 30.82 per cent.On a week-on-week basis, the weekly inflation,
Islamabad: Several business leaders in Pakistan in response to the recent hike in petroleum prices by the interim government, have issued a warning, saying that the decision can lead to the closure of 50 per cent of industrial units and trigger mass unemployment, according to Dawn.They said that the trade and industry are also battling to survive the increase in power tariff by almost Rs 10 per
NEW DELHI: In an Ambassador-level trilateral meeting, India, Japan and Sri Lanka, spoke about ways to forge ties that would lead to a free and open Indo Pacific."The Japanese PM, Fumio Kishida, had highlighted that South Asia as one of the major pillars in Free and Open Indo Pacific. Japan attaches primary importance to ties to India and Sri Lanka as they are indispensable partners,’’ said