|
IMF
team to visit Pakistan in November:Hafiz Shaikh
WASHINGTON: A team of experts from the International Monetary Fund
will visit Islamabad in November for talks with Pakistani officials, says
Finance Minister Abdul Hafiz Shaikh.The finance minister told a select gathering at the Pakistan embassy on Saturday night that while Pakistan was not seeking another loan from the IMF, it would continue to hold Article IV consultations with the organisation. The IMF consults annually with each member government. Through these contacts known as Article IV consultations, the IMF attempts to assess each country’s economic health and to forestall future financial problems. The fund also operates a department that provides training in macroeconomic analysis and policy formulation for officials of member countries and Pakistan intends to continue those technical ties as well. These would include technical assistance for debt management, provincial financing and tax policy and distribution, Mr Shaikh said. The finance minister arrived in Washington last week to attend IMF and World Bank meetings and to explore future ties with the IMF despite a decision to not seek a new loan. Mr Shaikh said that since Pakistan had not fulfilled some of the conditions included in the current loan arrangement, which expires on Sept. 30, and also because of an increase in its comfort level, Islamabad decided not to seek another loan. But experts travelling with the finance minister said Pakistan might seek a new loan arrangement later if it felt the need to do so. IMF officials say that Pakistan does not meet the economic criteria that qualify a country for loan. In the past, US political support helped Pakistan make comfortable arrangements with international financial institutions but this year the Americans appear reluctant to provide that support. The Pakistanis have apparently been told that if they qualify for a loan on the basis of their economic performance, the Americans will not oppose it “but they will not go out of their way to bail out the country”, said a source.
Khar
to address UNGA on Tuesday
UNITED NATIONS: Foreign Minister Hina Rabbani Khar will address
the United Nations General Assembly (UNGA) on Tuesday.She will cover all major issues of concern to Pakistan in the address, her first at the world stage. Pakistani news channels had reported that she was being called back to Islamabad immediate by the Prime Minister Yusuf Raza Gilani to speak to the All Parties Conference being convened in the capital. After delivering her speech, Khar will leave for Pakistan, said sources. Khar is leading a Pakistan delegation to the 193-member Assembly’s 66th session.
Farooq
Sattar denies Wikileaks MQM-May 12 claim
KARACHI: Muttahida Qaumi Movement (MQM) leader Farooq
Sattar has strongly denied a secret US cable quoting him as saying that
certain MQM workers were involved in May 12 mahyem, Geo News reported.
Sattar said the real victim of May 12 was the MQM and his party’s stance had been clear on the issue. He stated that May 12 was a horrible act and a conspiracy against his party. "Propaganda is being spread against the MQM and we have faith that this propaganda will not be successful" Sattar said. Wikileaks had revealed that MQM leader Dr. Farooq Sattar said certain MQM workers, former president Pervez Musharraf, landlords, Inter Services Intelligence (ISI) and other political parties were involved in the May 12, 2007 mayhem in Karachi. A diplomatic cable sent from Karachi to Washington on 17 May, 2007 contained details of a 40-minute phone conversation between Sattar and Charge d'affaires US Consulate Peter Boday. During the conversation Sattar admitted that certain members of his party were involved in the May 12 incident and the party should consider unarming its militant wing. Sattar added that the media should have contacted him before running the Wikileaks story. According to the cable Sattar had informed government officials about those involved in the incident. Sattar said that slogans chanted in favour of Musharraf were not made on his recommendation and MQM Chief Altaf Hussain had dismissed his recommendation on the issue
Business News
|
|
Mon, 26 September 2011
|
|
|
|
|
|
-
|
Hafeez holds important meetings in Washington
Dr Abdul Hafeez S |
|
|
|
|
-
|
EDB helps SKorean steelmaker nail deal
The company has signed joint venture agreement with Tuwairqi Steel Mill (TSML) for investing US$15million in the DRI project of TSML by subscrib |
|
|
|
|
-
|
Trade body tense over Pak-US tension
Founder Chairman Pak US Business Council and veteran trade leader Iftikhar Ali Malik while talking to APP here said that The United |
|
|
|
|
-
|
Europe shoots for a fortified crisis fund
Financial markets plunged last week on fears that Greece"s near-bankruptcy could spread to other euro zone countries, heapi |
|
|
|
|
-
|
Pakistan Railways to rent Indian locomotives
A meeting chaired by Railways minister Ghulam Bilour evaluated acquiring engines on rent from India... According to the Railways Ministry, the engines will be rented to increase performance and initially 50 engines will be acquired... |
|
|
|
|
-
|
KSE stands fast during week
Market managed a green opening on Monday, which stood somewhat strong through the week even in the face of rumours regarding a cut in the discount rate, but fell to the rising Pak-US tensions... As a result pro |
|
|
|
|
-
|
shakes up SPI touchstones
Till the week ended on September 15, the SPI was being computed on |
|
|
|
|
-
|
Rs40bn crops go down the d-rain
He further said that cotton crop over 105000 a |
|
|
|
|
-
|
Khi industries to suffer 8hr power-cuts
|
|
|
|
|
-
|
Shaikh tempts expats to invest in Pak
He said several sectors of the economy offer tremendous investment opportunities and pledged the government would |
No comments:
Post a Comment