Amid the snowballing financial crisis in Pakistan, the International Monetary Fund (IMF) has refused to send a mission to the country for talks on restoring the 11.3-billion-dollar bailout …
A delegation of the International Monetary Fund (IMF) is scheduled to arrive in Pakistan on Sunday (today) to hold talks on economic reforms and the release of the last tranche of the …
DUBLIN: Four Irish cabinet ministers have resigned in a surprise move that comes a day after the foreign minister quit following his failed attempt to oust Prime Minister Brian Cowen, reports said Thursday. The exodus of four ministers late on Wednesday on top of the departure of Micheal Martin, who was foreign minister, leaves the Irish cabinet missing more than a quarter of its members. The Irish Times newspaper said that the latest resignations paved the way for a reshuffle planned by the prime minister ahead of a general election expected in March. It is the latest political upheaval in Ireland amid fierce criticism of the government’’s handling of an economic crisis that saw it pushed into accepting an EU-IMF bailout worth tens of billions of euros. Health Minister Mary Harney; Justice Minister Dermot Ahern; Transport Minister Noel Dempsey and Defence Minister Tony Killeen tendered their resignations to the premier late on Wednesday, the Irish Times and state broadcaster RTE said. The letters of resignation would be handed to the president with a recommendation they are accepted, said the Irish Times, citing a government statement. All of the ministers who resigned had announced they do not intend to contest the forthcoming election, said the newspaper, adding that the appointment of new ministers is expected in the next day or two.
ISLAMABAD: Prime Minister Syed Yousuf Raza Gilani said he has received the agenda of PML (N) and the government will implement it together with consultations. Talking to newsmen here Tuesday, he said, “We will also seek cooperation and guidance from Mian Muhammad Nawaz Sharif, in this regard.” The Prime Minister said, “Parliamentary leaders of other political parties also have the same viewpoint to resolve the problems and we will also take them along.” He said whatever the government can do within its limited resources, it will do for the welfare of the people as it is a government of the people. To a question, the Prime Minister said there is no pressure of IMF and we will do whatever is in the interest of the country. To a question about Pope Benedict’’s statement about blasphemy laws, Syed Yousuf Raza Gilani said the will act according to the national law. He again made it clear that the government has no intention to bring any amendment in the blasphemy laws. He said media should act responsibly and after this clear statement controversy in this regard should end. About a question regarding cabinet reshuffle, the Prime Minister said it is his prerogative.
ISLAMABAD: The government has assured the International Monetary Fund (IMF) that the Reformed GST on services would be tabled in provincial assemblies shortly.
ISLAMABAD: An important session of federal cabinet with Prime Minister Syed Yousuf Raza Gilani chairing, will be held today to decide over various issues facing country including overall political situation. The cabinet is expected to approve inter-government matters including five ministries initially devolved to provinces and the financial affairs of these ministries. The cabinet will also review implementation on18th Amendment. Freshly inducted in the federal cabinet, Khuda Bux Rajar and State Minister Istiqbal Khan are also likely to attend the meeting. Official sources said that the prime minister called the cabinet meeting keeping in view the developments on the political front. The cabinet was also expected to consider some measures to be implemented during the nine-month extension allowed by the International Monetary Fund (IMF) in its $11.3 billion stand-by arrangement, they added. The sources said the cabinet was likely to approve a Rs 25 billion bailout package for the Pakistan Steel Mills to keep it functional. The state-owned entity was faced with severe financial stress and desperately needed federal intervention, they maintained. The cabinet would also approve measures for implementation of the inter-government framework signed during the recent visit of the Chinese prime minister to help Chinese investors. According to the government announcements, the Chinese public and private sector would make $35 billion investment in Pakistan during five years, the sources stated. It would also be expected to approve South Asian Association for Regional Cooptation (SAARC) agreement on trade in services. Under the agreement, all SAARC member countries are expected to open their eight service sectors for investors of the member countries, including Pakistan and India. The agreement would cover all four aspects, which include cross-border supply of services like telecommunication, consumption of medical facilities abroad, commercial presence in the form of opening bank branches and movement of personnel, the sources added.
The International Monetary Fund says it will provide Pakistan with about $450 million in emergency aid this month to help it cope with devastating floods.IMF Managing Director Dominique Strauss-Kahn s…
The International Monetary Fund says it will provide Pakistan with about $450 million in emergency aid this month to help it cope with devastating floods.IMF Managing Director Dominique Strauss-Kahn s…
WASHINGTON: The World Bank on Thursday raised flood aid to Pakistan to one billion dollars while the IMF approved 450 million dollars in emergency financing to help the nation cope with its worst-ever…
By Syed Fazl-e-Haider KARACHI – The release by the International Monetary Fund (IMF) of the next US$1.3 billion installment to Pakistan under its standby arrangement dating back to 2008 has bee…