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  • IMF Expresses Concern Over Non-Increase In Gas Prices

    IMF Expresses Concern Over Non-Increase In Gas Prices

    Canada Global (Web News) The IMF has expressed concern over the non-increase in gas prices since July 1. According to sources, the IMF has demanded that the Ministry of Finance convenes a meeting of the Economic Coordination Committee to discuss gas prices. Give immediate approval to price hikes.

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    Cut costs, privatize institutions, IMF calls for caretaker government

    Sources said that a meeting of the Economic Coordination Committee has been convened on Monday to raise gas prices on the demand of the IMF, while a summary of the price hike has been shared with the IMF by the Power Division. IMF says that not increasing gas prices is a violation of the agreement.

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    Relief in electricity bills, Ministry of Finance has sent a new plan to the IMF

    Sui gas companies have suffered a loss of 46 billion rupees due to the non-increase in gas prices since July 1. In this regard, the sources have further informed that the IMF recovered the loss of 46 billion rupees from July to September. It has been proposed that Caretaker Finance Minister Dr. Shamshad Akhtar will return from China today after attending the Belt and Road Conference.

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  • IMF chief declines PM invitation to Geneva moot, willing to attend virtually

    IMF chief declines PM invitation to Geneva moot, willing to attend virtually

    Canada Global (Web News) Kristalina Georgieva, the managing director of the International Monetary Fund (IMF), declined Prime Minister Shehbaz Sharif’s invitation to the Climate Resilient Pakistan Conference in Geneva but expressed interest in participating virtually.

    The IMF chief accepted PM Shehbaz’s request for Georgieva to attend the conference in Geneva; but, because the IMF board meetings were scheduled for January 9–10, “she will only be able to join the conference digitally,” the Prime Minister’s Office said in a statement.

    “Georgia called Prime Minister Shehbaz and expressed her deep sympathy and concern for the human and material losses caused by the recent floods, emphasising her commitment to support Pakistan during this trying time,” the statement said.

    The managing director expressed concern about the effects of the floods, and the premier thanked her and reassured her that Pakistan is “dedicated to effectively completing the ongoing IMF project.”

    Earlier today, Prime Minister Shehbaz announced that an IMF delegation would be travelling to Pakistan in two to three days to “take up and conclude” the ninth economic assessment and free up a much-needed $1.1 billion bailout tranche.

    During a speech at the Hazara Electric Supply Company’s inauguration, the PM stated, “I spoke to Georgieva and emphasised that Pakistan wishes to conclude the IMF rescue project” (HAZECO).

    I asked her to loosen the agreement’s restrictions because the masses can no longer bear this load. The wealthy sectors of society now pay taxes, the premier said.