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Articles for tag: alarm, challenges, debt, IMF, International Monetary Fund, sounding

April 21, 2024

News Desk

The IMF is sounding the alarm on debt challenges

WASHINGTON: International Monetary Fund (IMF) shareholders this week agreed on the importance of addressing the challenges facing low-income countries, many of which are facing unsustainable debt, IMF Managing Director Kristalina Georgieva said on Friday. Multiple reports from the IMF and World Bank this week are raising alarm bells about economic developments and prospects in low-income developing countries, which are still struggling with the aftermath of the COVID-19 pandemic and other shocks. The IMF cut its 2024 growth forecast for low-income countries as a group to 4.7 percent from an estimate of 4.9 percent in January. In a separate report, the

February 28, 2024

News Desk

Businesses are sounding the alarm over rising electricity prices

LAHORE: Different business groups have expressed concern over a recent hike in fuel adjustment price of electricity, which is Rs 7.05 per unit, calling it an unexpected increase by the National Electricity Regulatory Authority (NEPRA). This increase will cost the people of Pakistan Rs 70 billion, they said. They also said that apart from domestic consumers, the industrial sector, especially the export sector, would suffer huge foreign exchange losses. “Repeated hikes in electricity tariffs are hitting exports and local businesses alike. The government has hiked the electricity rates several times and most people have been sent bills of multiples of

November 30, 2023

News Desk

Growers are sounding the alarm over the fertilizer crisis

KARACHI: Growers in Sindh have appealed to the federal and provincial governments, as well as Chief of Army Staff (COAS) General Asim Munir, to take notice and take immediate action to curb hoarding, smuggling, counterfeiting and black market urea and diammonium phosphate (DAP) fertilizers in Sindh immediately; Otherwise, food insecurity could result. “After asking the federal and provincial governments for action many times, I had to write a letter [available with The Express Tribune] to the COAS to address the insolvency of all the three fertilizer companies: Fauji Fertilizer Company Limited, Engro Fertilizers Limited and Fatima Fertilizer Company Limited. In

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