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Articles for tag: affects, crisis, financing, Funding, Health, initiatives, Latest, News

December 11, 2023

News Desk

Funding crisis affects health initiatives

PESHAWAR: The Khyber-Pakhtunkhwa Integrated Health Program (IHP), which is jointly managed by the Lady Health Workers (LHWs) program and the nutrition initiative, faces severe financial constraints, which hamper its effectiveness. Official sources told The Express Tribune that both the schemes fell short of their targets due to insufficient funding. About 4,000 IHP employees have gone without salaries for the past five months, receiving payments only once during that time, according to a health department official. The IHP, which was introduced in 2014 in all four provinces, faced challenges after the 18th amendment, requiring individual provinces to create their PC-1 plans.

December 7, 2023

News Desk

ADB approves $659 million in financing for Pakistan

Islamabad: Days after Finance Minister Shamshad Akhtar declared public debt “unsustainable”, Pakistan secured a pricey $300 million loan at market rates from the Asian Development Bank to improve tax compliance, showing a stark contrast between actions and of the government’s words. The loan is not taken for development purposes. Instead, the revenue will be used for budget financing purposes in the name of introducing reforms in Pakistan’s revenue and expenditure framework. The Manila-based lender on Wednesday approved a $659 million financing package for Pakistan under three different loans. These include $300 million to improve domestic resource mobilization. $275 million to

November 23, 2023

News Desk

Pakistan asks Saudi-based IsDB for additional oil financing, service charge waiver

Pakistan in talks with IsDB to increase oil facility from $50 million to $100 million by December 2023 The sun is seen behind a crude oil pump jack in the Permian Basin in Loving County, Texas, U.S., November 22, 2019. — Reuters/File Pakistan asks IsDB to increase oil facility from $50 million to $100 million. IsDB has proposed service charges of less than 1%. It remains to be seen how Pakistan’s request will be accepted. ISLAMABAD: The Islamic Development Bank (IsDB) has proposed increased service charges following Pakistan’s request for an additional oil financing facility, but Islamabad has asked the

November 14, 2023

News Desk

UAE assures IMF mission on Pakistan’s external financing gap

“UAE will play a role for Pakistan’s economic stability,” IMF envoy. Pakistan faces an external financing gap of $6.5 billion. Islamabad is likely to seek assistance from WB, ADB and IDB. The United Arab Emirates (UAE) – a time-tested friend of Pakistan – has once again come to the cash-strapped nation’s rescue amid a difficult time as it assured the International Monetary Fund (IMF) mission of the vacuum external financing of the country. According Geo NewsThe development came during a meeting between the IMF mission chief and the UAE ambassador to Pakistan on Tuesday, on the sidelines of ongoing policy-level

November 11, 2023

News Desk

ECC approves Rs100b guarantee for PSOs

Islamabad: The caretaker government on Friday approved state guarantees of Rs 100 billion in favor of Pakistan State Oil (PSO) to help the company avoid bankruptcy and also allowed recovery of Rs 1.72 per unit increase in electricity prices from consumers K- Electric (KE). The decisions were taken by the Economic Coordination Committee (ECC) of the cabinet which once again failed to reach an agreement on raising gas prices for fertilizer plants after the withdrawal of subsidies. The ECC reached an agreement that subsidized natural gas supplies will continue until the end of December. But he did not formalize the

November 4, 2023

News Desk

FATF urges India to stop victimizing rights activists under the guise of terror financing

Demonstrators attend a protest against riots after clashes between people demonstrating for and against a new citizenship law in New Delhi, India, March 3, 2020. — Reuters Global human rights organizations have urged the Financial Action Task Force (FATF) to call on India to stop prosecuting and intimidating human rights activists, defenders and non-profit organizations in the country under the guise of fighting terrorist financing. Amnesty International, Charity & Security Network and Human Rights Watch in a joint statement said the global terrorist financing and money laundering watchdog is set to conduct its fourth periodic review of India’s performance in

November 1, 2023

News Desk

Interest costs absorb the entire income

Islamabad: Finance Minister Dr Shamshad Akhtar on Tuesday identified the rising cost of interest payments as a “primary concern” for fiscal stability. In the first quarter of the current fiscal year, debt servicing consumed almost the entire net federal income of Rs 1.4 trillion. In her foreword to the monthly economic outlook report for October from the finance ministry, Akhtar noted that economic activities have started to pick up and inflationary pressure has eased. The ministry has forecast a drop in inflation to 27% in October from September’s level of 31.4%. He pointed out, “On the expenditure side, the primary

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