Pakistan is keen on securing a larger and longer International Monetary Fund (IMF) bailout package — the only thing the country can do when it cannot service all its external debts on time. There is no option of skipping the IMF and seeking more considerable, longer-term funds from friendly countries that have already rolled over billions of dollars worth of such funds offered earlier. Foreign
THE PPP has aptly advised the central government to worry about improving its tax collection rather than eying the provinces’ share of tax revenues. Reacting to recent reports that the IMF wants Pakistan to restart discussions on the 2009 NFC award to correct the ‘imbalance’ in the centre-provinces distribution of tax resources, PPP Senator Sherry Rehman rejected suggestions that the global len
In its first fuel price revision announcement, the newly elected government on Friday maintained the price of petrol but slashed diesel for the next fortnight. In an announcement before midnight, the Ministry of Finance said the new price of diesel would go into effect on March 16, as recommended by the Oil and Gas Regulatory Authority (Ogra). The price of petrol remains Rs279.75 per litre
Apple agreed to pay $490 million to settle a class-action lawsuit that alleged Chief Executive Tim Cook defrauded shareholders by concealing falling demand for iPhones in China. A preliminary settlement was filed on Friday with the US District Court in Oakland, California, and requires approval by US District Judge Yvonne Gonzalez Rogers. It stemmed from Apple’s unexpected announcement on Ja
As the pressure grows to stop the smuggling of mobile phones, the government is set to devise a mechanism with the help of private sector stakeholders. On Feb 12, Anwaarul Haq Kakar, the former caretaker prime minister, took the first step in this regard by establishing a Mobile Phone Smuggling Committee headed by the DG Reforms and Automation Customs Department. The customs department has w