No Result
View All Result
  • Business
  • National
  • World
  • Sports
  • Entertainment
    • ZABTHEATRE’23
  • Tech
  • Stories
  • Education
  • YourCut
  • Business
  • National
  • World
  • Sports
  • Entertainment
    • ZABTHEATRE’23
  • Tech
  • Stories
  • Education
  • YourCut
No Result
View All Result
No Result
View All Result

U-turn from IMF? Ishaq Dar ties all hopes on Saudi Arabia

Zain Aijaz by Zain Aijaz
January 5, 2023
in Business, Featured, Latest News, National, News, Politics, Top News
Reading Time: 1 min read
U-turn from IMF? Ishaq Dar ties all hopes on Saudi Arabia

ISLAMABAD: Finance Minister Ishaq Dar has now tied hopes with Saudi Arabia to raise the declining foreign exchange reserves. On Wednesday, Ishaq Dar held a joint press conference with State Minister for Finance Aisha Ghaus Pasha, Information Minister Marriyum Aurangzeb, Minister for Planning Ahsan Iqbal, Minister for Energy Khurram Dastgir Khan, and Minister for Economic Affairs Ayaz Sadiq.

During the conference, the finance minister said that the second bailout from Saudia Arabia of $3 billion would help boost the reserves. He added that by June 30, 2023, the position of foreign exchange reserves would be better than what it is right now.

Dar’s remarks indicate a deviation from the plan of going to the International Monetary Fund (IMF), which has laid down a series of new clauses for the ninth review. IMF urged Pakistan to hike the prices of energy commodities, impose new taxes, achieve the surplus target of the primary budget, and end the additional circular debt of Rs500 billion.

If all conditions of the IMF are met, the inflation rate will rise more. Currently, Pakistan has an inflation rate of 25 per cent.

Zain Aijaz

Zain Aijaz

Zain is a media student and a writer by passion. He is a certified creative writer from Wesleyan University and enthusiastically writes on non-fiction and political satire. He is vastly experienced in the field of theatre and has served as a theatre mentor across different institutions. Currently, he is a contributor at The Upcut and can be reached at zainaijazdehlvi@gmail.com

Related Posts

Payoneer Hosted “Game Leaders Connect 2025” to Power Global Growth for Pakistan’s Gaming Industry
Business

Payoneer Hosted “Game Leaders Connect 2025” to Power Global Growth for Pakistan’s Gaming Industry

July 1, 2025
CBD PUNJAB STRENGTHENS ACADEMIA-INDUSTRY LINKAGES WITH BAHRIA UNIVERSITY STUDENT VISIT
Business

CBD PUNJAB STRENGTHENS ACADEMIA-INDUSTRY LINKAGES WITH BAHRIA UNIVERSITY STUDENT VISIT

June 13, 2025
Zindigi and LDA Launch Plantation Drive to Promote a Greener Future in Lahore.
Business

Zindigi and LDA Launch Plantation Drive to Promote a Greener Future in Lahore.

June 10, 2025

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

TOP NEWS

Killed

Young trader killed during robbery bid in Karachi

by News Desk
December 2, 2024

A 22-year-old trader was tragically shot dead during a robbery attempt on New M.A. Jinnah Road on Sunday evening, according...

KSE-100 index lose over 500 points as PSX experiences negative trend

PSX soars over 1,200 points amid optimism on inflation and interest rate cuts

by News Desk
December 2, 2024

The Pakistan Stock Exchange (PSX) maintained its bullish momentum on Monday as the benchmark KSE-100 index surged 1,248.84 points, or...

PTI suspends Islamabad protest following deadly clashes, appeals for justice

PTI suspends Islamabad protest following deadly clashes, appeals for justice

by News Desk
November 27, 2024

The Pakistan Tehreek-e-Insaf (PTI) announced the suspension of its Islamabad sit-in early Wednesday after a day of intense clashes in...

PSX in boorish trend for second consecutive day; benchmark KSE-100 index lost over 700 points

KSE-100 Index surges over 600 points amid banking sector rally

by News Desk
November 25, 2024

Bullish sentiment dominated the Pakistan Stock Exchange (PSX) on Monday as the KSE-100 index climbed 621.85 points, or 0.64 per...

The Upcut is a news platform that brings you the latest news, developments from all walks of life, from all over the world. We cover Business, news from Pakistan and rest of the world, Sports, and Entertainment. You can also read Tech Reviews and How-To Guides for simple solutions and dailylife hacks.

BUSINESS   |   NATIONAL   |   WORLD   |   SPORTS   |   ENTERTAINMENT   |   TECH   |   HOW-TO GUIDES

  • Home
  • About Us
  • Privacy Policy
  • Editorial Guidelines
  • Contact Us
  • Stories

Copyright © 2022 The Upcut. All rights reserved.

No Result
View All Result
  • Business
  • National
  • World
  • Sports
  • Entertainment
    • ZABTHEATRE’23
  • Tech
  • Stories
  • Education
  • YourCut

Copyright © 2022 The Upcut. All rights reserved.

Go to mobile version