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WEEKLY
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Friday, March 12, 2010
By Mehtab Haider
ISLAMABAD: Multilateral creditors, including the International Monetary Fund (IMF), the World Bank (WB) and the Asian Development Bank (ADB), have agreed in principle to let Islamabad jack up power tariff subsidy by around Rs 20-25 billion, pushing up to Rs 80 billion against the earlier envisaged limit of Rs 55 billion. The exact increased subsidy amount will be finalised within the next couple of days.
A top official of the Finance Division disclosed to The News on Thursday that the ADB delegation would hold another round of talks with the Finance Ministry high ups today (Friday) in order to work out the exact additional amount required for bridging the yawning gap of the power tariff subsidy.
The unwarranted delays to work out the power tariff subsidy could jeopardise the finalisation of the Memorandum of Financial and Economic Policies (MEFP) document on the basis of which the executive board is expected to take up the approval of $1.2 billion tranche by March 24 in Washington DC under the $11.3 billion bailout package.
“If the power tariff subsidy finalises today (Friday), it is likely that the MEFP will be signed by Prime Minister Gilani because of the indecision of the government for nominating anybody for the vacant slot of the finance minister,” said the official. As the Ukraine’s prime minister had recently signed the MEFP document of the IMF to get tranche, so Pakistan can also do the same in the next couple of days, added the official.
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KP floods toll reaches 408
By Nisar Mahmood
PESHAWAR: Casualties due to rain and flood-related incidents were on the rise as more deaths were reported from various areas of Khyber-Pakhtunkhwa on Friday.
Information Minister Mian Iftikhar Hussain p more |
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‘US has no plans to send troops to Pakistan’
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“We have no plans to s more |
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Flash floods kill 102 in a narrow Shangla strip
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Responding to points of orde more |
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Zardari to visit UK despite Cameron snub
By Tariq Butt
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This b more |
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14 die in G-B rains
By our correspondent
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Four more |
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Mullen asks ISI to shift its focus ‘strategically’
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Security concerns main reason
By Murtaza Ali Shah
LONDON: President Asif Ali Zardari’s official visit to the UK from August 3 to 7 will cost the taxpayers of Pakistan tons of British pounds as sources have revealed the details of what arrangements are being ma more |
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Fake degrees: SC rejects appeals of three MPs
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A three-member bench of more |
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ECP to check assets of all MPs from next polls
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Indo-Pak experts want to use water as tool for cooperation
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Defence sources more |
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CCP issues notice for tying ticket with food coupons
By our correspondent
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According to the CCP, the show cause notice was more |
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US needs to change war strategy: Haroon
NEW YORK: Pakistan’s ambassador to the UN, Abdullah Hussain Haroon, said that there might have been a relationship between the ISI and the Taliban, but in a war such contacts were considered necessary.
“ more |
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briefs...
Average inflation for FY11 projected at 11-12 pc
By Shahnawaz Akhter
KARACHI: In an unexpected move, the State Bank of Pakistan (SBP) on Friday tightened the monetary policy stance by enhancing th more |
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ISSN 1563-9479 
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