Not so sweet thenews.com.pk - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from thenews.com.pk Daily Mail and Mail on Sunday newspapers.
Pipedreams
March 16, 2021
LAHORE: Most of the long-term sector specific announcements by the state are pipedreams that rarely materialise the way they are supposed to.
Take for instance textiles that are the mainstay of our exports. The government regularly announces a five year long-term textile policy which mostly remains a piece of paper only. The 2014-19 textile policy expired two years back.
The long-term policies are meant to give confidence to the investors about the consistency of policies and assurance of support/facilitations during the five year period.
The 2014-19 textile policy was a non-starter that resulted in stagnation of textile exports. During that period, the textile exports in fact declined from its peak in 2013. The present government took a long time in announcing a long-term textile policy. It has come up with a policy draft for year 2020-25 but the same has not been approved by the Economic Coordination Committee of the Cabinet. This shows the non-ser
Hafeez Shaikh down but not yet out tribune.com.pk - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from tribune.com.pk Daily Mail and Mail on Sunday newspapers.
IMF grants over Rs200b spending waiver to fight Covid
Executive board to give final approval this month provided Pakistan fulfils all agreed actions
PHOTO: AFP
ISLAMABAD:
The International Monetary Fund (IMF) has granted over Rs200 billion spending waiver to create fiscal space for mitigation of the coronavirus contagion – an amount which is less than half of the remaining unspent funds committed under the Prime Minister’s Covid-19 Relief Fund 2020.
The over Rs200 billion fiscal adjuster is part of the staff-level arrangement agreed between Pakistan and the IMF this month, sources in the Ministry of Finance said. The agreement is subject to the approval of the IMF Executive Board that may meet this month, provided Pakistan fulfils all the agreed actions.
Citing sources in the Ministry of Commerce, The Express Tribune reported that Adviser to the Prime Minister on Commerce Abdul Razak Dawood may take a decision on whether to import cotton and yarn from India next week.