July 3, 2022 -

IMF seeks to include anti-corruption mechanism in ‘prior actions’

July 3, 2022July 3, 2022 Admin

Pakistan and the International Monetary Fund (IMF) are making an all-out effort to evolve a consensus on prior actions for moving towards a staff-level agreement and one of the bones of contention is related to the strengthening of anti-corruption institutional mechanism.https://025ed454977d402ac5b76239e65af7a7.safeframe.googlesyndication.com/safeframe/1-0-38/html/container.html The IMF wants to make it a part of the prior actions list because the government could not fulfil…

Pak banks refuse to open LCs for Russian crude oil import

July 3, 2022July 3, 2022 Admin

All Pakistani commercial banks have refused to open letters of credit (LCs) for Russian-origin crude oil in the presence of economic sanctions by the US, the UK and EU countries against Moscow for war against Ukraine, saying the payment in US dollar terms is not possible against the import of Russian crude oil. However, if the government manages to enter…

Solar energy package on the cards

July 3, 2022July 3, 2022 Admin

The government is working on a comprehensive solar energy package comprising tax waivers and concessionary loans for consumers in a bid to overcome the prolonged power outages that have stalled life in the country. The solar package will also include a short-term plan for shifting government offices on to solar energy. It involves preparation of a plan for helping small…