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Feb 9 • 4 tweets • 2 min read
Scheduled timeframe for completion of 9th review is going to end today

Read more: thenews.com.pk/print/1038799-…

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Differences persist over external financing needs and power sector losses between the International Monetary Fund (IMF) and Pakistani side, delaying handover of the draft memorandum of economic and financial policies (MEFP) to the Pakistan side.

#TheNews
Scheduled timeframe for completion of 9th review is going to end today. According to the Pakistani authorities, now the IMF mission had changed its working style — they will finalise the agreement first and then share the MEFP with Pakistan.

#TheNews
Sources said the IMF had raised doubts about the shrinking dollar inflows, so without securing confirmation from all avenues of multilateral, bilateral, and commercial banks, the Fund mission could not fulfil the gross external financing needs of $9 billion.

#TheNews

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More from @thenews_intl

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Feb 11
Ministry of Defence has already agreed to contribute their share to national exercise amid serious financial crisis faced by country

Read more: thenews.com.pk/print/1039569-…

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The recommendations of committee to which prime minister has already agreed to, if implemented, will massively cut perks, privileges and other luxuries enjoyed by ruling elite, parliamentarians, judges, generals, civil and military officers from taxpayers’ money.

#TheNews
Some highlights of these proposals as reported by The News on Friday include major cut in the size of cabinet, no development funds for MPs; no pension beyond Rs500,000 per month to anyone from public kitty; no use of SUVs by government officials.

#TheNews

(1/3)
Read 5 tweets
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Feb 11
Cabinet's ECC approved withdrawal of subsidies in electricity tariff for export-oriented sector and Kissan package

Read more: thenews.com.pk/print/1039562-…

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Under various heads including quarterly tariff adjustments, deferred fuel price adjustment, and imposition of a surcharge of Re1 per unit on big power consumers, govt approved revised CDMP where tariff would be hiked around Rs7-8 per unit till August 2023.

#TheNews
Sources said IMF had asked government for raising base tariff by Rs4.06 per unit, but government did not approve anything in this regard under revised CDMP. It is yet to be ascertained how IMF demand has incorporated in MEFP, handed over to Pakistan on Feb 10, 2023.

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Read 5 tweets
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Feb 10
"People were already aware of who was behind overthrowing the PTI regime," former PM says

Read more: thenews.com.pk/latest/1039395…

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"General Bajwa told a journalist with much pride how he had our government ousted due to economic policies and other matters," Khan said in an interview with Voice of America (Urdu).

#TheNews
He had earlier blamed the United States for overthrowing his PTI administration, later he turned the guns towards the ex-army chief, and then he also claimed that Punjab caretaker Chief Minister Mohsin Naqvi was also involved in the "regime change" operation.

#TheNews
Read 4 tweets
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Feb 10
IGP, chief secretary say they will follow whatever Election Commission of Pakistan decides

Read more: thenews.com.pk/latest/1039307…

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Punjab Inspector-General of Police (IGP) Dr Usman Anwar and the chief secretary appeared before the court during today's hearing. The chief secretary said that they would follow through on the court’s order.

#TheNews
Meanwhile, when ECP’s lawyer approached rostrum, he said that the only issue before court was who would give the date for the polls. He added that there was talk of a provision in the law allowing the ECP and President Dr Arif Alvi to give a date for the elections.

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Read 7 tweets
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Feb 10
Federal govt has allocated Rs10 billion to help Turkey's earthquake relief efforts, says premier

Read more: thenews.com.pk/latest/1039295…

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PM Shehbaz, while speaking on the occasion of sending relief goods to Türkiye at the Lahore airport, said no stone will be left unturned to provide full support to the people of Turkiye in the wake of massive devastation caused by the earthquake.

#TheNews
The PM also recalled the heartiest support of Turkiye to Pakistan during the 2005 earthquake and 2010 flash floods.

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Read 6 tweets
The News Profile picture
Feb 10
Global lender, however, says "considerable progress" made, virtual talks to continue on implementation of IMF policies

Read more: thenews.com.pk/latest/1039279…

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The visiting IMF mission concluded its review parleys in 10 days and left Islamabad to return back to headquarters in Washington DC without signing of the SLA.

#TheNews
IMF shared draft MEFP with Pakistani authorities and evolved broader consensus over actions/ prior actions, Finance Secretary Hamid Yaqoob told journalists, who waited for long hours at Q Block (Ministry of Finance) get version of Ishaq Dar on latest parleys with IMF.

#TheNews
Read 6 tweets

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