IMF Pressures Pakistan on Power Rates Amid Expected Rupee Devaluation

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ISLAMABAD: The International Monetary Fund (IMF) has urged Pakistan to base the next increase in power tariffs on an anticipated further devaluation of the rupee rather than assuming the current stable value of the local currency. This recommendation could exacerbate the already significant burden on electricity consumers, as the government had previously planned a rate hike of up to Rs7…

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Government Proposes Carbon Tax on Fuel to Secure IMF Support

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Insiders say move will facilitate green bonds, cheaper loans from multilateral institutions Withholding tax on bank transactions for non-filers likely to be hiked; carrot-and-stick approach to broaden tax baseFiscal adjustment of Rs1.6 trillion likely through additional revenue measures, privatisation ISLAMABAD: In a bid to secure continued support from the International Monetary Fund (IMF), the government is considering introducing a carbon…

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IMF Approves Final $1.1 Billion Tranche for Pakistan

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In Washington, the International Monetary Fund’s Executive Board has given the green light for the immediate release of around $1.1 billion to Pakistan. This decision marks the completion of the second review under the Stand-By Arrangement (SBA), bringing the total disbursements under this program to approximately $3 billion. The board’s unanimous approval, except for India’s abstention, signals confidence in Pakistan’s…

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Pakistan aims to agree outline of new IMF loan in May, finance minister says

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Pakistan hopes to agree the contours of a new International Monetary Fund (IMF) loan in May, Finance Minister Muhammad Aurangzeb told Reuters, and has kicked off talks with ratings agencies to lay the groundwork for a return to international debt markets. Pakistan’s current $3 billion arrangement with the Fund runs out in late April and the government is seeking a longer and bigger…

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Pakistan Seeks Three-Year IMF Programme for Economic Reform

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Pakistan is actively engaging with the International Monetary Fund (IMF) for a new multi-billion dollar loan agreement to support its economic reform agenda. Finance Minister Muhammad Aurangzeb has indicated that Pakistan will request a three-year programme during discussions with the IMF. Aurangzeb, currently in Washington for the IMF and World Bank spring meetings, highlighted the country’s need for structural reforms…

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Important issues remain to be solved as Pakistan seeks potential follow-up programme: IMF chief

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International Monetary Fund (IMF) Managing Director Kristalina Georgieva on Thursday said that Pakistan is in discussions with the Fund on a potential follow-up programme to the previous nine-month $3 billion stand-by arrangement (SBA), adding that important issues remained to be solved. Georgieva told an event at the Atlantic Council think tank, that Pakistan was successfully completing its existing programme with…

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Country does need new IMF programme: PM

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ISLAMABAD: The federal cabinet has abolished the National Commission for Child Welfare and Development (NCCWD), the National Child Protection Centre (NCPC) and the implementation of the National Line of Action and decided to include employees of these departments in the surplus pool. While speaking to the participants of the meeting, Prime Minister Shehbaz Sharif also highlighted the importance of a…

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FM Aurangzeb Aims for New IMF Deal by End of June, Reports Progress on Privatisation

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Finance Minister Muhammad Aurangzeb has set ambitious targets, aiming to secure a staff-level agreement (SLA) with the International Monetary Fund (IMF) by the end of June. He expressed optimism during an appearance at the Pakistan Stock Exchange (PSX) gong ceremony, noting that while there have not been final discussions with the IMF yet, the global lender has shown receptiveness towards…

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Economic indicators improve on $3b IMF SBA

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Research house says indicators suggest that overheated economy has stabilised KARACHI:Pakistan’s economic indicators have significantly improved under the ongoing International Monetary Fund (IMF) Stand-By Arrangement (SBA) of $3 billion, suggesting that economic activities have stabilised and are ready to enter a growth phase ahead of the new loan package from the lender.In its latest monthly update released on Thursday, Topline…

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IMF and Pakistan Reach Staff-Level Agreement on Final Bailout Review

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The International Monetary Fund (IMF) has reached a staff-level agreement with Pakistan regarding the final review of a $3 billion bailout. This agreement paves the way for Pakistan to receive $1.1 billion upon approval from the Fund’s Executive Board. The agreement, recognizing Pakistan’s strong program implementation and ongoing reform efforts, aims to transition the country towards a sustainable economic recovery.…

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