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Articles for tag: 28th ECO Council of Ministers, and strengthening regional economies, Deputy Prime Minister Ishaq Dar, ECO Council of Ministers meeting, ECO economic agenda, ECO economic initiatives, ECO economic projects, ECO member states, ECO ministerial conference, ECO regional trade agreements, ECO summit 2024, Economic Cooperation Organization, economic development, economic policy discussions, economic reforms, economic sustainability, Foreign Minister Senator Ishaq Dar, foreign policy, international economic partnerships, International Trade, Iran-Pakistan collaboration, Iran-Pakistan economic cooperation, Iran-Pakistan ties, Ishaq Dar diplomatic efforts, Ishaq Dar ECO address, Ishaq Dar foreign visit, Ishaq Dar in Iran, Mashhad conference 2024, Mashhad Council of Ministers, Mashhad ECO conference, Mashhad Iran visit, Pakistan diplomacy, Pakistan ECO participation, Pakistan economic strategies, Pakistan foreign relations, Pakistan in ECO summit, Pakistan regional diplomacy, Pakistan-Iran relations, Pakistan's role in ECO, regional connectivity, regional cooperation, regional economic challenges, regional economic growth, regional economic integration, regional trade cooperation, regional trade frameworks, regional trade partnerships, sustainable economic development, sustainable economic policies

December 3, 2024

The Pakistan Daily

Deputy PM Dar in Iran to attend ECO meeting

Deputy Prime Minister and Foreign Minister Senator Mohammad Ishaq Dar is in Mashhad, Iran to attend the 28th meeting of the Council Ministers of the Economic Cooperation Organization. On arrival, he was warmly received at the airport by Vice Governor General of Razavi Khorasan province Mohammad Ali Nabipoor and Pakistan’s Ambassador to Iran, Mudassir Tipu. In his address at the ministerial meeting, Ishaq Dar will reiterate Pakistan’s commitment to the ECO Charter and highlight the potential of greater connectivity in the ECO region, through the development of road and rail networks; liberalization of visa regimes and simplification of border procedures.

December 1, 2024

The Pakistan Daily

“It’s time to reject politics of chaos,” says Ahsan Iqbal

LAHORE: Federal Minister for Planning, Development and Special Initiatives Ahsan Iqbal said that it was time to reject the politics of chaos and focus on economic development. The minister said political stability and consistent policies are vital for the development of the country. The minister said when the PTI march reached Islamabad, the stock market dropped by 4,000 points, but when they left the capital, the stock market soared by 4,500 points. Addressing the foundation stone laying ceremony of a multipurpose building at Information Technology University (ITU), the minister said it is now everyone’s duty to prevent disruptions to policies

September 26, 2024

The Pakistan Daily

IMF approves seven billion dollars package for Pakistan

In a major development, the International Monetary Fund (IMF) Executive Board, during a meeting in Washington, has approved a $7 billion loan for Pakistan. This new financial support program is designed to span over 37 months, providing crucial relief to the country amidst its ongoing economic challenges. As per sources, Pakistan is likely to get $1 billion or $1.1 billion as the first instalment of the loan by September 30. After the approval of the loan program, the second installment will also be received in the same financial year, the sources added. Pakistani officials have confirmed that all preconditions for

September 5, 2024

News Desk

The government was forbidden to set crop prices

Islamabad: The International Monetary Fund (IMF) has imposed a major condition on Pakistan’s federal and provincial governments, preventing them from setting agricultural support prices for all commodities, including wheat and sugarcane. The condition is part of nearly a dozen restrictions the global lender has imposed on provincial governments aimed at curbing reckless spending and curbing their power to grant subsidies. The agriculture-related situation will directly affect three cash crops – sugarcane, wheat and cotton. Besides, it will cause an increase in the prices of imported fertilizers due to the restriction on the sale of the commodity at subsidized prices. Sources

August 1, 2024

News Desk

Borrowing cannot fix Pakistan’s economy: FM Aurangzeb

Listen to the article Islamabad: Finance Minister Muhammad Aurangzeb stated that the economic condition of the country cannot be improved by relying on foreign loans. Speaking at the inauguration ceremony of the SECP headquarters building in Islamabad, Aurangzeb stressed the need for immediate reforms in the energy sector to ensure that the current IMF program is the last. Aurangzeb stressed the importance of implementing reforms while staying on the IMF program and adhering to privatization policies. He stressed that Pakistan cannot improve its economic condition by depending on foreign borrowing. The finance minister also pointed to the need to reduce

July 22, 2024

News Desk

Finance Minister briefs Fitch Ratings on Pakistan’s deal with IMF, economic reforms

On Monday, Finance Minister Muhammad Aurangzeb briefed representatives of Fitch Ratings about Pakistan’s recent Staff Level Agreement (SLA) with the International Monetary Fund (IMF) and outlined various measures aimed at boosting the economy. The briefing, conducted via Zoom, highlighted the positive effects of the nine-month stand-by arrangement with the IMF on Pakistan’s macroeconomic health. Earlier this month, the IMF announced an SLA with Pakistan for a $7 billion, 37-month loan program designed to foster stability and inclusive growth. The new expanded fund facility (EFF), pending approval by the IMF’s Executive Board, also requires “timely confirmation of necessary financing assurances from

July 13, 2024

News Desk

PM Shehbaz orders FBR to revamp revenue strategy to fight national debt

Islamabad: Prime Minister Shehbaz Sharif has asked the Federal Board of Revenue (FBR) to reassess its revenue collection strategy to help reduce the country’s debt. During a meeting at the FBR headquarters on Saturday, the prime minister stressed the need to bring the currently non-tax paying sectors into the tax net. He emphasized the importance of digitizing FBR processes, ensuring that the implementation is comprehensive and coordinated. The prime minister pledged full support to the revenue collector to acquire the latest technology. Prime Minister Shehbaz lauded the FBR for achieving 30% growth in tax collection in the last financial year

April 18, 2024

News Desk

Global financial giants support Pakistan’s economic reforms

WASHINGTON: Leading global financial institutions such as the World Bank (WB), Asian Development Bank (ADB) and International Finance Corporation (IFC) have pledged to support Pakistan’s economic stabilization efforts through structural reforms, digital transformation and privatization. During the fringe meetings at the International Monetary Fund (IMF) and World Bank 2024 Spring Meetings in Washington, Federal Minister for Finance and Revenue Muhammad Aurangzeb led a delegation of Pakistan and interacted with heads and representatives of these global lending institutions. In discussions with WB Group Chairman Ajay Banga, the finance minister praised the bank’s steadfast support for Pakistan’s development agenda. He reiterated the

February 11, 2024

News Desk

The challenges are many for the new government

design: Ibrahim Yahya KARACHI: Pakistan’s delayed economic reforms and privatization program may become more difficult ahead of a possible coalition government, as no political party has won a clear majority in Thursday’s general election. The new management is expected to choose old solutions that have already been tested for the last 30 to 40 years. In one of the easiest measures, he will raise energy prices instead of making politically tough energy reforms. Therefore, inflation will continue to remain high. According to experts, the Pakistani rupee is expected to remain stable against the US dollar and other major currencies in

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