Articles for tag: agreement, Akhtar, Dr Shamshad Akhtar, early, FBR, IMF, IMF agreement, Latest, public debt, urges

March 1, 2024

Islamabad: Pakistan faces the challenge of unsustainable public debt and the new government should reach an early agreement with the International Monetary Fund (IMF) on a long-term bailout package to continue tough reforms, outgoing finance minister Dr Shamshad said on Thursday. Akhtar. In a departure at the monthly economic outlook, Akhtar said market confidence had been restored in recent months and as a result gross domestic product (GDP) is expected to grow around 3% in the second quarter of the current fiscal year. In the first quarter, economic growth was 2.1%. “At the heart of the economic challenges is the

December 11, 2023

News Desk

International

The new COP28 draft agreement does not have a “phase-out” of fossil fuels

DUBAI: A draft of a possible climate deal at the COP28 summit on Monday suggested a range of options countries could take to reduce greenhouse gas emissions, but omitted the “phasing out” of fossil fuels that many nations have called for. The draft will set the stage for a final round of contentious negotiations at the two-week summit in Dubai, which has revealed deep international disagreements over whether oil, gas and coal should have a place in a climate-friendly climate future. COP28 president Sultan Al Jaber urged the nearly 200 countries at the talks to redouble their efforts to finalize

November 28, 2023

News Desk

International

An agreement was reached to extend the Israel-Hamas ceasefire in Gaza by two days

JERUSALEM/GAZA: Mediator Qatar said on Monday that a deal had been reached to extend a ceasefire between Israeli and Hamas forces in Gaza by two days, continuing a pause in seven weeks of war that has killed thousands and devastated the Palestinian enclave. “An agreement has been reached to extend the humanitarian ceasefire for two additional days in the Gaza Strip,” a spokesman for Qatar’s foreign ministry said in a post on the X social media platform. There was no immediate comment from Israel, but a White House official confirmed an agreement had been reached. Hamas also said it had

November 21, 2023

News Desk

Business

Beijing and Riyadh sign currency swap agreement

BEIJING: The People’s Bank of China and Saudi Arabia’s Central Bank recently signed a local currency swap deal worth 50 billion yuan ($6.93 billion), or 26 billion Saudi riyals, both banks said on Monday, as bilateral relations continued to are reinforced. Saudi Arabia, the world’s top oil exporter, and China, the world’s biggest energy consumer, have worked to advance relations beyond hydrocarbon ties in recent years, expanding cooperation in areas such as security and technology. The swap agreement, which will be valid for three years and can be extended by mutual agreement, “will help to strengthen economic cooperation… expand the

November 21, 2023

News Desk

Lifestyle

Shakira reaches agreement to settle tax fraud case in Spain

BARCELONA: Colombian superstar Shakira will pay millions of euros in fines as part of a settlement announced Monday with Spanish prosecutors to settle her tax fraud case and avoid trial. Prosecutors had accused the superstar of defrauding the Spanish state of about 14.5 million euros ($15.7 million) in income she earned between 2012 and 2014, charges Shakira had denied, saying she moved to Spain full-time. only in 2015. Under the deal, announced at the start of the 46-year-old singer’s trial, Shakira agreed to a three-year suspended sentence and to pay a fine of 7.33 million euros ($7.98 million) equal to

November 15, 2023

News Desk

Business

IMF agreement on second tranche expected this week: Georgieva

Agreement to release the second tranche of funds under the International Monetary Fund’s (IMF) $3 billion stand-by arrangement (SBA) with Pakistan is expected this week, IMF Managing Director Kristalina Georgieva said on Wednesday. “I expect an agreement on the review to come within this week,” Georgieva said during an interview with Bloomberg TelevisionHaslinda Amin in Singapore. He urged the federal government to ensure effective tax collection. The confirmation comes amid IMF concerns about the upcoming general election and the role, mandate and powers of the Special Investment Facilitation Council (SIFC). The Fund has also sought further increases in electricity prices.

November 9, 2023

News Desk

Business

No plans to extend, increase IMF stand-by agreement: Finance Minister

Finance Minister Dr. Shamshad Akhtar. — Karandaaz The Minister says she will advise on the external funding gap after the review. Loans from multilateral lenders linked to review, says an official. External financing gap “most serious threat”, experts say. ISLAMABAD: Finance Minister Dr Shamshad Akhtar has ruled out Pakistan asking the International Monetary Fund (IMF) to increase the timing or size of the Standby Arrangement (SBA), while senior government officials are also advising on the implementation of the gap external funding once a successful review has been completed, The news reported on Thursday. After arriving in Pakistan on November 2,

Akhtar urges early IMF agreement

The new COP28 draft agreement does not have a “phase-out” of fossil fuels

An agreement was reached to extend the Israel-Hamas ceasefire in Gaza by two days

Beijing and Riyadh sign currency swap agreement

Shakira reaches agreement to settle tax fraud case in Spain

IMF agreement on second tranche expected this week: Georgieva

No plans to extend, increase IMF stand-by agreement: Finance Minister

Asif Khaliq drives blue-eyed Chaiwala Arshad Khan’s London success

Munir and Naqvi Join Makkah Pact Talks in Tehran

Iran Says the Border Is Open as Pakistan Ships LPG by Sea