Urdu
Sindhi
Monday, December 11, 2023
Voice of Sindh
  • HOME
  • PAKISTAN
    • KARACHI
  • INTERNATIONAL
    Israel-Hamas ground battles burst out as death toll in Gaza rise with over 5,087

    Israel strikes Gaza after failed UN ceasefire bid

    Palestine-Israel war enters in third day as death toll rises to 1300

    US criticizes Israel on civilian casualties, death toll crosses 17000

    Danish parliament approves landmark bill to ban desecration of Quran

    Danish parliament approves landmark bill to ban desecration of Quran

    22 Palestinians killed over two days in Isreal’s air strike

    Two more IDF soldiers killed as Israel-Gaza War enters 61st day

    Nigerian Army drone strike accidentally kills 85 civilians

    Nigerian Army drone strike accidentally kills 85 civilians

    Manipur: Thousands flee after death toll reaches 54 in ethnic violence

    At least 13 killed in armed fighting in India’s ethnic riots-hit Manipur

    Gaza officials say more than 700 killed in overnight Israeli attacks

    Gaza fighting stretches into second day after Israel-Hamas truce collapses

    15 people killed in Israeli attack on Al-Shifa hospital in Gaza

    Isreal resumes attack soon after truce expires, dozens killed in Khan Younis

    US charges Indian national Nikhil Gupta with conspiracy to kill Sikh leader

    US charges Indian national Nikhil Gupta with conspiracy to kill Sikh leader

  • BUSINESS
    Karachi industrialists decry ‘cut’ in gas supply

    Karachi industrialists decry ‘cut’ in gas supply

    KSE-100 index gains record 1,033 in morning trading session

    PSX reaches new heights, surpasses 66,000 mark

    IMF postpones talks with Pakistan seeking details of flood relief expenditure

    Pakistani authorities ‘delivering’ economic front, says IMF official

    SECP registers 2414 companies in last month

    SECP registers over 27,000 new companies in FY2023

    PAC asks Prime Minister to scrap gas meter rent from consumers

    SNGPL seeks another tariff hike by 137%

    PM Kakar calls emergency meeting tomorrow over electricity inflated bills

    NEPRA declares K-Electric, power companies responsible for overbilling

    Gold price decreases Rs1,800 per tola

    Gold price soars Rs3100 per tola

    Pakistan’s trade deficit shrinks by 33.59pc in five months

    Pakistan’s trade deficit shrinks by 33.59pc in five months

    OGRA reduces prices of LPG for June 2023

  • HEALTH
  • ENTERTAINMENT
    Manoj Bajpayee gets biggest compliments, criticisms about his films from wife Shabana

    Manoj Bajpayee gets biggest compliments, criticisms about his films from wife Shabana

    Veteran actor, comedian Junior Mehmood passes away at 67

    Veteran actor, comedian Junior Mehmood passes away at 67

    Hania Aamir sparks dating rumours with Bollywood’s Badshah

    Hania Aamir sparks dating rumours with Bollywood’s Badshah

    Actor, host Nausheen Masud passes away

    Actor, host Nausheen Masud passes away

    Bobby Deol breaks silence on limited screen time in ‘Animal’

    Bobby Deol breaks silence on limited screen time in ‘Animal’

    Vicky Kaushal’s ‘Sam Bahadur’ struggles in Box Office clash with ‘Animal’

    Vicky Kaushal’s ‘Sam Bahadur’ struggles in Box Office clash with ‘Animal’

    “Sometimes Kabaddi Players Get Paid More Than Me”, Abhishek Bachchan

    “Sometimes Kabaddi Players Get Paid More Than Me”, Abhishek Bachchan

    Bargain bucket Harry Potter book ‘worth £60,000’

    Bargain bucket Harry Potter book ‘worth £60,000’

    Rani Mukerji, Kajol break silence on their cold war

    Rani Mukerji, Kajol break silence on their cold war

    Trending Tags

    • pakistani actress
    • bollywood
    • fawad khan
    • Faisal Sabzwari
  • SPORTS
    • All
    • CRICKET
    New Zealand beats Bangladesh by four wickets in second Test

    New Zealand beats Bangladesh by four wickets in second Test

    Sajid Khan likely to join Pakistan’s Test squad in Australia

    Sajid Khan likely to join Pakistan’s Test squad in Australia

    Scoring 100 international centuries ‘tough job’ for Kohli, says Brian Lara

    Scoring 100 international centuries ‘tough job’ for Kohli, says Brian Lara

    Bangladesh near victory as New Zealand fail trial by spin

    Dhakha test: Spinners drag Bangladesh back into match

    Nida, Bismah reflect on Pakistan’s historic T20 series win over New Zealand

    Nida, Bismah reflect on Pakistan’s historic T20 series win over New Zealand

    PCB grants NOCs to Haris Rauf, Usama Mir, Zaman Khan for BBL

    PCB grants NOCs to Haris Rauf, Usama Mir, Zaman Khan for BBL

    Bangladesh secures historic win in Sylhet test as New Zealand fail trial by spin

    Bangladesh secures historic win in Sylhet test as New Zealand fail trial by spin

    Bangladesh near victory as New Zealand fail trial by spin

    Bangladesh near victory as New Zealand fail trial by spin

    Imad Wasim signs Melbourne Stars for Big Bash League 2023/24

    Imad Wasim signs Melbourne Stars for Big Bash League 2023/24

    Trending Tags

    • PSL V
    • PSL 6 Abu Dhabi
    • PSL
    • PSL 5
    • Multan Sultans PSL 6
    • psl7
    • ICC ranking
    • ICC
    • Asia Cup 2022
  • BLOGS
    A journey of economic success during the tenure of the Army Chief: Gen Syed Asim Munir

    A journey of economic success during the tenure of the Army Chief: Gen Syed Asim Munir

    PM Kakar approves plan to bring PayPal, Starlink to Pakistan

    PM Kakar directs for national strategy to meet climate change challenges

    Water, a vital nutrient for maintaining overall health, well-being

    How many glasses of water should you drink on a daily basis?

    Conquering Overthinking: Strategies for a Clearer Mind

    Conquering Overthinking: Strategies for a Clearer Mind

    Always Love Yourself First: Embracing Self-Love and Respect

    Always Love Yourself First: Embracing Self-Love and Respect

    Exploring the Path to Real Happiness: Living in the Present with Joy

    Exploring the Path to Real Happiness: Living in the Present with Joy

    No need to nullify NAB laws, Supreme Court

    PTI to return assembly if wants amendments in NAB laws, SCP

    IK including Bushra Bibi declares his assets including

    Imran Khan spend Rs900 m at Prime Minister Office between 2019 to 2021

    Peru sentences ex-president to 1.5 years in prison

    Peru sentences ex-president to 1.5 years in prison

    Trending Tags

    No Result
    View All Result
    • HOME
    • PAKISTAN
      • KARACHI
    • INTERNATIONAL
      Israel-Hamas ground battles burst out as death toll in Gaza rise with over 5,087

      Israel strikes Gaza after failed UN ceasefire bid

      Palestine-Israel war enters in third day as death toll rises to 1300

      US criticizes Israel on civilian casualties, death toll crosses 17000

      Danish parliament approves landmark bill to ban desecration of Quran

      Danish parliament approves landmark bill to ban desecration of Quran

      22 Palestinians killed over two days in Isreal’s air strike

      Two more IDF soldiers killed as Israel-Gaza War enters 61st day

      Nigerian Army drone strike accidentally kills 85 civilians

      Nigerian Army drone strike accidentally kills 85 civilians

      Manipur: Thousands flee after death toll reaches 54 in ethnic violence

      At least 13 killed in armed fighting in India’s ethnic riots-hit Manipur

      Gaza officials say more than 700 killed in overnight Israeli attacks

      Gaza fighting stretches into second day after Israel-Hamas truce collapses

      15 people killed in Israeli attack on Al-Shifa hospital in Gaza

      Isreal resumes attack soon after truce expires, dozens killed in Khan Younis

      US charges Indian national Nikhil Gupta with conspiracy to kill Sikh leader

      US charges Indian national Nikhil Gupta with conspiracy to kill Sikh leader

    • BUSINESS
      Karachi industrialists decry ‘cut’ in gas supply

      Karachi industrialists decry ‘cut’ in gas supply

      KSE-100 index gains record 1,033 in morning trading session

      PSX reaches new heights, surpasses 66,000 mark

      IMF postpones talks with Pakistan seeking details of flood relief expenditure

      Pakistani authorities ‘delivering’ economic front, says IMF official

      SECP registers 2414 companies in last month

      SECP registers over 27,000 new companies in FY2023

      PAC asks Prime Minister to scrap gas meter rent from consumers

      SNGPL seeks another tariff hike by 137%

      PM Kakar calls emergency meeting tomorrow over electricity inflated bills

      NEPRA declares K-Electric, power companies responsible for overbilling

      Gold price decreases Rs1,800 per tola

      Gold price soars Rs3100 per tola

      Pakistan’s trade deficit shrinks by 33.59pc in five months

      Pakistan’s trade deficit shrinks by 33.59pc in five months

      OGRA reduces prices of LPG for June 2023

    • HEALTH
    • ENTERTAINMENT
      Manoj Bajpayee gets biggest compliments, criticisms about his films from wife Shabana

      Manoj Bajpayee gets biggest compliments, criticisms about his films from wife Shabana

      Veteran actor, comedian Junior Mehmood passes away at 67

      Veteran actor, comedian Junior Mehmood passes away at 67

      Hania Aamir sparks dating rumours with Bollywood’s Badshah

      Hania Aamir sparks dating rumours with Bollywood’s Badshah

      Actor, host Nausheen Masud passes away

      Actor, host Nausheen Masud passes away

      Bobby Deol breaks silence on limited screen time in ‘Animal’

      Bobby Deol breaks silence on limited screen time in ‘Animal’

      Vicky Kaushal’s ‘Sam Bahadur’ struggles in Box Office clash with ‘Animal’

      Vicky Kaushal’s ‘Sam Bahadur’ struggles in Box Office clash with ‘Animal’

      “Sometimes Kabaddi Players Get Paid More Than Me”, Abhishek Bachchan

      “Sometimes Kabaddi Players Get Paid More Than Me”, Abhishek Bachchan

      Bargain bucket Harry Potter book ‘worth £60,000’

      Bargain bucket Harry Potter book ‘worth £60,000’

      Rani Mukerji, Kajol break silence on their cold war

      Rani Mukerji, Kajol break silence on their cold war

      Trending Tags

      • pakistani actress
      • bollywood
      • fawad khan
      • Faisal Sabzwari
    • SPORTS
      • All
      • CRICKET
      New Zealand beats Bangladesh by four wickets in second Test

      New Zealand beats Bangladesh by four wickets in second Test

      Sajid Khan likely to join Pakistan’s Test squad in Australia

      Sajid Khan likely to join Pakistan’s Test squad in Australia

      Scoring 100 international centuries ‘tough job’ for Kohli, says Brian Lara

      Scoring 100 international centuries ‘tough job’ for Kohli, says Brian Lara

      Bangladesh near victory as New Zealand fail trial by spin

      Dhakha test: Spinners drag Bangladesh back into match

      Nida, Bismah reflect on Pakistan’s historic T20 series win over New Zealand

      Nida, Bismah reflect on Pakistan’s historic T20 series win over New Zealand

      PCB grants NOCs to Haris Rauf, Usama Mir, Zaman Khan for BBL

      PCB grants NOCs to Haris Rauf, Usama Mir, Zaman Khan for BBL

      Bangladesh secures historic win in Sylhet test as New Zealand fail trial by spin

      Bangladesh secures historic win in Sylhet test as New Zealand fail trial by spin

      Bangladesh near victory as New Zealand fail trial by spin

      Bangladesh near victory as New Zealand fail trial by spin

      Imad Wasim signs Melbourne Stars for Big Bash League 2023/24

      Imad Wasim signs Melbourne Stars for Big Bash League 2023/24

      Trending Tags

      • PSL V
      • PSL 6 Abu Dhabi
      • PSL
      • PSL 5
      • Multan Sultans PSL 6
      • psl7
      • ICC ranking
      • ICC
      • Asia Cup 2022
    • BLOGS
      A journey of economic success during the tenure of the Army Chief: Gen Syed Asim Munir

      A journey of economic success during the tenure of the Army Chief: Gen Syed Asim Munir

      PM Kakar approves plan to bring PayPal, Starlink to Pakistan

      PM Kakar directs for national strategy to meet climate change challenges

      Water, a vital nutrient for maintaining overall health, well-being

      How many glasses of water should you drink on a daily basis?

      Conquering Overthinking: Strategies for a Clearer Mind

      Conquering Overthinking: Strategies for a Clearer Mind

      Always Love Yourself First: Embracing Self-Love and Respect

      Always Love Yourself First: Embracing Self-Love and Respect

      Exploring the Path to Real Happiness: Living in the Present with Joy

      Exploring the Path to Real Happiness: Living in the Present with Joy

      No need to nullify NAB laws, Supreme Court

      PTI to return assembly if wants amendments in NAB laws, SCP

      IK including Bushra Bibi declares his assets including

      Imran Khan spend Rs900 m at Prime Minister Office between 2019 to 2021

      Peru sentences ex-president to 1.5 years in prison

      Peru sentences ex-president to 1.5 years in prison

      Trending Tags

      No Result
      View All Result
      Voice of Sindh
      Home BUSINESS

      No plans to increase IMF standby deal, Finance minister

      Web Desk by Web Desk
      in BUSINESS, FINANCE
      Reading Time: 3 mins read
      0 0
      A A
      0
      0
      SHARES
      0
      VIEWS
      Share on FacebookShare on Twitter

      Finance Minister Dr Shamshad Akhtar ruled out the possibility of Pakistan requesting the International Monetary Fund (IMF) to increase the timeframe or the size of the Standby Arrangement (SBA), while government high-ups to also advise on materialising the external financing gap once a successful review is completed.

      Following their arrival to Pakistan on November 2, officials from the Fund are negotiating with Islamabad to strike a staff-level agreement under the $3 billion SBA programme. These talks will end on the 15th of this month.

      RecommendedMust Read

      Karachi industrialists decry ‘cut’ in gas supply

      Karachi industrialists decry ‘cut’ in gas supply

      2 days ago
      0
      KSE-100 index gains record 1,033 in morning trading session

      PSX reaches new heights, surpasses 66,000 mark

      3 days ago
      0
      IMF postpones talks with Pakistan seeking details of flood relief expenditure

      Pakistani authorities ‘delivering’ economic front, says IMF official

      4 days ago
      0
      SECP registers 2414 companies in last month

      SECP registers over 27,000 new companies in FY2023

      5 days ago
      0

      The delegations for these talks, from the IMF and Pakistan, were led by the finance minister and the lender’s Mission Chief Nathan Porter, both of whom also held one-on-one meetings during the week.

      Media persons asked Dr Akhtar if there was a possibility of Pakistan requesting the IMF to increase the SBA programme from March to June 2024 and jacking up the size from the existing $3 billion to $3.5-$4 billion, the minister categorically replied, “No”.

      To another query regarding the external financing gap, the minister replied that she would advise after the review.

      Another official who is privy to the ongoing talks with the IMF said that the programme loans from the multilateral creditors including the World Bank, Asian Development Bank, Asian Infrastructure Investment Bank, and Islamic Development Bank (IsDB) were linked with the successful ongoing review of the IMF programme.

      The IMF has assessed that Pakistan requires gross external financing of slightly over $29 billion including external debt servicing of $24.5 billion and a current account deficit of $4.5 billion. Now Pakistan is expecting rollover of deposits and commercial refinancing of $11 billion from bilateral friends, Islamabad would have to secure external loans of $18 billion in the current fiscal year provided all other dollar inflow targets such as exports, remittances, and foreign direct investment materialised up to the envisaged mark.

      There are some serious risks to the debt dollar inflows including a $5 billion commercial loan, $1.5 billion through launching international bonds, and $500 to $750 million from IsDB through ITFC out of committed $1 billion.

      If interest rates at the global level especially in the United States of America eased down and oil prices in the international market tumbled then Islamabad would be able to secure breathing space otherwise its external financing crunch might become a serious threat.

      Independent economists are predicting that the external financing gap might be hovering around $6 to $7 billion for the current fiscal year. It is the most serious threat to the economy and stability of the exchange rate.

      On the fiscal front, the sources said that the IMF and FBR high-ups discussed structural changes in tax administration, tax policy, tax administration, documentation/digitization, track and trace system, and its implementation for major revenue spinner sectors including sugar, tobacco, cement, and others. So far the FBR’s annual tax collection target of Rs9415 billion was kept unchanged during the technical level rounds of parleys between the two sides.

      In the energy sector, the IMF raised questions about the delayed increase in gas tariff from November 2023 against the commitment with the Fund to increase it with effect from July 1, 2023. The government is also supposed to increase the gas tariff from January 1, 2024.

      In the power sector, official sources told the IMF that the government released a subsidy amount of around Rs70 billion in the first week of October 2023. It is relevant to mention here that the government had only released Rs2.5 billion subsidy amount in the first quarter (July-Sept) period against the total allocation of Rs1,064 billion for the whole financial year 2023-24.

      The power sector’s distribution companies’ losses were estimated at Rs589 billion out of which Rs200 billion could not be recovered. So the remaining Rs389 billion could be recovered and so far the government launched the anti-theft campaign and recovered approximately Rs50 billion. If this anti-theft action continued unabated in the remaining period the overall collection of electricity bills of power distribution companies could be improved by Rs200 to Rs250 billion so the annual losses could be reduced by 50 to 60%.

      Get real time update about this post categories directly on your device, subscribe now.

      Unsubscribe
      Web Desk

      Web Desk

      Voice of Sindh is an initiative designed to uncover the untold stories of Sindh. It aims to preserve and promote the diverse culture, heritage, history, and traditions that make Sindh the bastion of pluralism and progress.

      Related Posts

      Karachi industrialists decry ‘cut’ in gas supply
      BUSINESS

      Karachi industrialists decry ‘cut’ in gas supply

      2 days ago
      0
      KSE-100 index gains record 1,033 in morning trading session
      BUSINESS

      PSX reaches new heights, surpasses 66,000 mark

      3 days ago
      0
      IMF postpones talks with Pakistan seeking details of flood relief expenditure
      BUSINESS

      Pakistani authorities ‘delivering’ economic front, says IMF official

      4 days ago
      0

      Recommended

      Indian entertainment Zee5

      Indian entertainment programme to on-screen genuine Pakistani content

      3 years ago
      0
      Sindh Rangers cracker attack

      University of Karachi extends fees admission deadline

      3 years ago
      0
      Sindh govt urges people to remain at home

      Sindh govt urges people to remain at home

      4 years ago
      0
      Pakistan’s Saffran group lands US$ 3.2 million IT contract with Japanese company

      Pakistan’s Saffran group lands US$ 3.2 million IT contract with Japanese company

      2 years ago
      0

      Categories

      • BLOGS
      • BUSINESS
      • CRICKET
      • CRIME
      • EDITORIALS
      • EDITORS PICK
      • EDUCATION
      • ENTERTAINMENT
      • FINANCE
      • HEALTH
      • INTERNATIONAL
      • KARACHI
      • KARACHI
      • MULTIMEDIA
      • OPINION
      • PAKISTAN
      • PSL V
      • SCI-TECH
      • SHORT FILMS
      • SPORTS
      • TECHNOLOGY
      • TOP STORIES
      • VIDEOS
      • WEATHER
      • YOUTH CORNER
      Voice of Sindh

      © 2020-23 Voice of Sindh

      Sections

      • Urdu
      • Sindhi
      • About VOS
      • Project Director
      • Contact

      Follow us on

      No Result
      View All Result
      • VoS URDU
      • VoS SINDHI
      • PAKISTAN
      • KARACHI
      • TOP STORIES
      • EDITORS PICK
      • INTERNATIONAL
      • BUSINESS
      • HEALTH
      • ENTERTAINMENT
      • SPORTS
      • BLOGS

      © 2020-23 Voice of Sindh

      Welcome Back!

      Login to your account below

      Forgotten Password?

      Retrieve your password

      Please enter your username or email address to reset your password.

      Log In