Ishaq Dar made the announcement in a televised address on Sunday. He said that the price of kerosene oil and light diesel oil were increased by PKR 18 per litre.
It is pertinent to mention here that the UAE President had agreed to roll over the existing loan of USD 2 billion and provide a USD 1 billion additional loan.
In November last year, Pakistan Finance Minister Ishaq Dar had taken notice of the "illegal and unwarranted" leakage of tax information of Bajwa's family. "This is clearly a violation of the complete confidentiality of tax information that the law provides," a statement from the Finance Divi
"Almost 90 per cent of the pledges made by the international community at the donors' conference in Geneva for flood-hit Pakistan were project loans that will be rolled out over the next three years," said Pakistan Finance Minister Ishaq Dar.
The fresh drop came after the government failed to make any headway in its talks with the International Monetary Fund (IMF) for the revival of its stalled USD 6.5 billion loan programme.
Amid depleting foreign reserves, currency exchange firms of Pakistan on Saturday offered to pay for resuming the letter of credit facility (LC) for supporting imports as banks step back due to Pakistan's ongoing economic crisis, according to a Geo News report.
An International Monetary Fund (IMF) delegation will meet Pakistan Finance Minister Ishaq Dar on the sidelines of the upcoming Geneva conference on Climate Resilient Pakistan on January 9. The IMF delegation will discuss outstanding issues with Dar, an IMF spokesperson said on Sunday, Pakist
At the 40th National Security Committee meeting, Pakistan vowed to show 'zero tolerance' for terrorism amid the spurt in terrorist strikes by banned outfit Tehreek-e-Taliban Pakistan (TTP) and a rise in cross-border terrorism on Pak-Afghanistan border, Geo News reported.
Despite acknowledging that there were problems with the economy, Pakistan's Finance Minister Ishaq Dar assured investors that "there is no way Pakistan is going to default."
Ishaq Dar stressed that Pakistan was on the verge of default in 2013. However, their government was able to move the country out of the crisis by using "good economic steps."