Tag Archives: Governments

IMF tranche hinges on government’s strategy for circular debt, PSEs’ reform

IMF tranche hinges on government’s strategy for circular debt, PSEs’ reform

ISLAMABAD – The International Monetary Fund (IMF) has sought a clear plan of action from the government by Friday (today) to end the circular debt issue and reform the bleeding public sector enterprises within the current financial year in order to revive the suspended standby arrangement facility. An official source said the success of the talks hinged on the action plan that the government presented to the fund staff on Thursday and would be finalised today. During the talks, IMF

Sindh government’s austerity set to deprive many of perks

KARACHI – The Sindh government has decided to restructure its current 44 departments into 20 for curtailing the huge expenditures incurred on the large number of provincial ministers. The decision has been made after the federal government recently decided to cut down on the number of ministers.
The ruling PPP has started contacting its coalition parties including the MQM, the ANP, the PML-F and other political forces in this regard and Chief Minister Qaim Ali Shah has instructed

FWBL seeks government’s help on MCR

KARACHI – Federal Women’s Development Minister Dr Firdous Ashiq Awan has pledged that her ministry will help First Women Bank Limited (FWBL) resolve all issues hindering development projects of the bank. She was speaking to the top management of the bank during her visit to the head office in Karachi.
The First Women Bank Limited (FWBL) has requested government aid to deal with major challenges such as the State Bank’s (SBP) minimum capital requirement (MCR).
FWBL President

Budget deficit spinning out of government’s control

ISLAMABAD – Budget deficit remains out of government’s control because of unavailability of financial aid promised by the ‘Friends of Pakistan’ and the Kerry-Lugar Bill.
According to Finance Ministry sources, the government had allocated Rs 30 billion as power subsidy in 2010-11 budget but it still has to pay Rs 200 billion. Similarly, the circular debit in power sector has become worst, exceeding Rs 300 billion to Rs 600 billion.
While announcing budget, Federal Bureau of

Punjab government’s overdraft within SBP limits: Tanvir Kaira

LAHORE: The Punjab government’s overdraft was within the limits of the State Bank of Pakistan (SBP), Punjab Finance Minister Tanvir Ashraf Kaira said on Monday. He made these remarks while meeting members of the provincial assembly (MPA) and Pakistan People’s Party (PPP) workers at his office. He said that the Punjab government had accelerated the pace of development projects so that the public could get benefit from the welfare-oriented schemes as early as possible.

Governments flying high in times of crippling austerity

LAHORE: The federal and provincial governments are all praise for their respective austerity measures at a time when the civil apparatus at both ends is devoting enormous resources for the maintenance of its substantially large VIP fleet of 24 aircraft.
Data made available with Pakistan Today revealed that the federal and provincial governments operate 24 luxury aircrafts ranging from Airbus A310 to Cessna Citation for VIP movement. The data showed that the government bought the

Government’s bids to regulate charges at local ports hit snags

KARACHI: The government’s belated efforts to devise an effective legal mechanism to regulate the shipping lines, port and terminal operators, ship agents, freight forwarders and other port users have hit a snag.
It is inexplicable that Pakistan, a country consisting of three seaports and at least 11-vessel shipping fleet, has been deprived of specific laws to regulate the logistic service providers at local ports for one and half decade.
The traders’ agitation at

LHC issues notice on petition against Punjab government’s ban on recruitments

LAHORE: The Lahore High Court on Monday issued notice to Punjab government on a petition challenging ban on appointments in grades 5 to 16 in provincial departments.
Advocate Alamgir Khan filed the petition stating that the government had put a ban on recruitments in grades 5 to 16 which had caused an increase in unemployment. He said the young educated people were getting involved in illegal activities due to joblessness. He pleaded that the government was constitutionally bound