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IMF predicts inflation hike in Pakistan next year

ISLAMABAD: A report of International Monetary Fund (IMF) has warned that the prices of commodities will rise in Pakistan from the next year, ARY News reported on Monday. The report said that the inflation in Pakistan would hit 5.2% in 2017 which is nearly twice that of the current year’s 2.9%. The prices of petroleum products, coal and gas will go up with a 27% hike in the coming year, according to the report. As purported by the monetary institution, Pakistan would be witnessing effects of the hike by June 2017. The…

IMF chief, ADB president to visit Pakistan next week

ISLAMABAD: The Managing Director of International Monetary Fund Christine Laragrde and President Asian Development Bank Takehiko Nakao are expected to visit Pakistan next week. In this regard Finance Minister Senator Ishaq Dar chaired a meeting on Thursday to review arrangements for their visits and other international events planned for the next week. Pakistan will also host the 15th Ministerial conference of Central Asian Regional Economic Cooperation (CAREC) in Islamabad from 25-26th October. Officials of the Ministry…

ADB upgraded BISP rating from A to A+: Marvi Memon

ISLAMABAD: Minister of State and Chairperson Benazir Income Support Program (BISP) MNA Marvi Memon on Monday said BISP has successfully achieved Disbursement Linked Indicators (DLIs) under World Bank, DFID and Asian Development Bank (ADB) projects which are development partners of BISP.

China-backed AIIB approves first loans

BEIJING: The China-backed Asian Infrastructure Investment Bank (AIIB) approved its first four loans totalling over half a billion dollars, it announced Friday, as it joined forces with putative rivals to finance projects across Asia.

ADB approves $1.4 bn for Pakistan energy sector

ISLAMABAD: The Asian Development Bank said Friday it has approved combined loan assistance to Pakistan of nearly $1.4 billion for programmes targeting its power sector, a crucial boost as Islamabad struggles to resolve a years-long energy crisis.