Pakistan’s finance ministry is considering a stimulus package to support the economy, according to people familiar with the matter. Newly-appointed finance minister Shaukat Tarin is leading the initiative, which can be monetary, fiscal or both, said the people, asking not to be identified as the discussions are private. The talks are initial and nothing has been decided, the people said. No formal proposal exists, Tarin said in response to questions. The South Asian nation is expected to expand 3.9% in the year ending June from a rare contraction in the previous period. Still, the government is wary of a fresh wave of the coronavirus pandemic derailing its projection. At the same time, the government is looking to renegotiate some terms of a bailout package with the International Monetary Fund, including raising power tariffs and some taxes, finance minister Tarin said in an interview last month.
Two Diplomats Of Pakistan s Embassy In South Korea Caught Shoplifting, Saved By Diplomatic Immunity
An artistic representation of a person in handcuffs (Wikimedia Commons)
According to the police of Seoul, capital of South Korea, two diplomats of the Pakistan Embassy were caught shoplifting at a store on Saturday (April 24).
According to a
The Korea Times, Yongsan Police Station said the two were caught stealing items at the same store in Itaewon, Yongsan District, on different dates.
One allegedly stole chocolate treats worth Won 1,900 ($10) on 10 January, and the other a hat worth Won 11,000 ($1.70) on 23 February.
After the hat was stolen, an employee at the store filed a police report shortly afterwards. The law enforcement authorities identified the suspect through CCTV footage as a 35-year-old diplomat of the Pakistan Embassy.
China bails out Pakistan, sanctions $1.5 billion loan for Saudi Arabia debt: Report
This loan has come by augmenting the size of 2011 bilateral Currency-Swap Agreement
Representative Image
China has sanctioned a $1.5 billion finance line to Pakistan for the country to repay a $2 billion debt owed to Saudi Arabia – half of which is due this Monday (December 14).
Pakistan will use the funding to repay $1 billion immediately on Monday, while the remaining $1 billion is due in January 2021, The Express Tribute reported from sources in the country’s finance ministry and State Bank of Pakistan.
This is not the first time China has bailed out Pakistan, but the loan this time has come by augmenting the size of 2011 bilateral Currency-Swap Agreement (CSA), the sources pointed out.