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Pakistan’s poor should benefit from subsidies, not the wealthy: IMF Chief

International Monetary Fund (IMF) Managing Director Kristalina Georgieva has stressed that Pakistan needs to protect the poor and tax the wealthy while ensuring that subsidies are targeting those who really need them, it emerged on Sunday. In an interview on… Continue Reading

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Fitch Rating Pakistan: Fitch sees’ real possibility’ of default

Downgrades Pakistan’s long-term IDR to ‘CCC minus’, doesn’t assign outlook • Forecasts modest recovery WASHINGTON/ISLAMABAD: The Fitch Ratings agency on Tuesday downgraded Pakistan’s long-term foreign-currency issuer default rating (IDR) to ‘CCC-’, from ‘CCC+’ due to worsening liquidity, political volatility and… Continue Reading

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Pakistan Economy: Alvi tells Dar to approach parliament for higher taxation instead of promulgating ordinance

President Dr Arif Alvi on Tuesday advised Finance Minister Ishaq Dar to approach parliament regarding the government’s plan to raise additional revenue through taxes instead of promulgating an ordinance. Pakistan is battling an economic crisis which has seen inflation rocket… Continue Reading

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IMF Program: Still short of IMF ‘all clear’, govt put on brave face

ISLAMABAD: The government put on a brave face amid a stalemate on securing a bailout from the International Monetary Fund (IMF), needed to avert a nearing sovereign default, as the two sides remained short of concluding external financing estimates and… Continue Reading