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Pakistani reforms discussed by IMF chief and finance minister

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The Washington discussion included economic challenges, policy preferences, and Pakistan’s economic reform vision.

Privatisation, tax reform, and private sector amenities were also discussed.

In the US, the finance minister is discussing a fresh IMF credit program for Pakistan.

Tuesday, Muhammad Aurangzeb praised the IMF and World Bank for their economic development assistance to Pakistan.

Muhammad Aurangzeb, Federal Minister for Finance and Revenue, attended the G-24, Finance Ministers, and Central Bank Governors’ Meeting, according to a news release.

The minister talked about taxation, energy, privatization, and digitalization changes and the need to increase private sector investment and use the “Adaptation Fund” to mitigate climate change.

The nine-month, $3 billion IMF loan program to address a balance-of-payments issue that nearly drove the South Asian nation to default last summer is reaching its end.

In a Washington interview, Finance Minister Muhammad Aurangzeb claimed Pakistan has began negotiations for a new multi-year IMF loan program for “billions” of dollars. The last $1.1 billion tranche of that transaction is expected to be granted later this month

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E&P Companies Will Invest $5 Billion in Pakistan’s Petroleum Industry

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Over the next three years, local and foreign companies involved in Pakistan’s oil and gas exploration and production sector have shown a strong desire to invest more than $5 billion in the nation’s energy sector.

Recent changes to the Petroleum Policy and the implementation of an exclusive tight gas policy, which provide better incentives and a more investor-friendly regulatory framework, are credited with the increase in investor confidence.

These strategic changes are expected to boost domestic energy production, open up new avenues for growth, and draw large amounts of both domestic and foreign investment.

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PTI Encouraged Chaos and Sabotage: Rana Tanveer

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According to Rana Tanveer Hussain, the federal minister for food security, PTI encouraged violence, disorder, vandalism, and derogatory language in the nation’s politics.

The Minister told the reporters at Muridke that the founder PTI’s anti-nationalism and sabotage tactics are clear.

After Eid, he claimed, there won’t be any opposition movement since their leaders are still considering

According to the Minister, PTI is a tale of the past with a bleak future.

Additionally, he stated that the PTI has a history of flinging insults on one side and pleading on the other.

Rana Tanveer Hussain stated that the courts, not Trump, ought to determine what the PTI founder done to the nation.

Farmers would profit from the deregulation of commodity prices, especially those of wheat, according to the minister.

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DPM Restates Abundant Support for the Palestinian Cause

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Senator Muhammad Ishaq Dar, the country’s foreign minister and deputy prime minister, has reiterated Pakistan’s steadfast support for the Palestinian cause.

He made the statement while meeting with his Palestinian counterpart, Dr. Mohammed Mustafa, on the fringes of the Organization of Islamic Cooperation’s Extraordinary Council of Foreign Ministers meeting in Jeddah, Saudi Arabia.

Ishaq Dar reaffirmed Pakistan’s support for the creation of a viable, contiguous Palestinian state with Jerusalem as its capital, based on pre-1967 lines.

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