Settlement of circular debt by June unlikely
The government and the power sector may not be able to settle Rs150 billion circular debt issue by June 30, 2009 deadline set out by the IMF more... (D)
Rs 41 billion PDL collection needed to meet revenue shortfall
The government will be unable to pass through a decline in the international oil price to consumers by downward adjustment of the PDL levy as it needs the entire Rs 41 billion PDL collection to meet revenue shortfall target as agreed with the IMF prior to the first quarter meeting scheduled in Dubai 14-26 February, informed sources told Business Recorder more...
IFC provided $121 million trade guarantees to Pakistani banks in seven months
International Finance Corporation (IFC), a member of the World Bank Group, announced on Thursday that over the past seven months it provided Pakistani banks $121 million (Rs 9.5 billion) in trade finance guarantees, helping the country increase cross-border trade during the recent economic downturn, and benefiting many of its important business sectors more... (BR)