Customers at a currency exchange in Islamabad. Agence France-Presse
Pakistan Prime Minister Imran Khan’s government vowed to collect more taxes and make cuts in spending in a closely watched budget presented to parliament Tuesday, weeks after reaching a deal with the IMF for a $6 billion bailout.
Umar, one of cricketer-turned-premier Imran Khan's most powerful ministers, had been entrusted with the task of negotiating the long-delayed bailout as Pakistan's cash-strapped economy faces a balance-of-payments crisis.
Pakistan Prime Minister Imran Khan’s government was set to present an austerity-focused budget on Tuesday, weeks after the country reached an agreement with the International Monetary Fund
A delegation of the International Monetary Fund (IMF) arrived in Pakistan on Monday to continue discussions for a relief package. According to adviser and spokesman for the Ministry of Finance, Dr Khaqan Najeeb, the IMF team will meet officials of the Ministry, the Federal Board of Revenue and the State Bank during its visit to Pakistan.
Global shares dipped on Friday as data out of China, the eurozone and the United States put a lid on expectations for a sustained global rebound, with traders already worried about a delay in US fiscal stimulus.
Chinese firms like Xiaomi are facing delays getting approvals from India’s quality control agency for their goods, five industry sources told Reuters, as the business environment deteriorates after a clash on their Himalayan border.
Abu Dhabi National Energy Company (Taqa), announced on Thursday its earnings for the second quarter of 2020. The company’s revenues reached Dhs3.3 billion for the quarter, reflecting the COVID-19 pandemic ongoing adverse impact on energy markets.