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COVID-19 TOTAL DAILY

Tahir Amin

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Country facing recession prospect

Pakistan may fall into a recession with the real GDP for fiscal year 2020 could contract by 2.2 percent and a painful decline in per-capita income, says the World Bank (WB).
Published 13 Apr, 2020 12:00am
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PM calls for global initiative on debt relief

Prime Minister Imran Khan on Sunday appealed for a "Global Initiative on Debt Relief" saying that Covid-19 pandemic has posed unprecedented health and economic challenges.
Published 13 Apr, 2020 12:00am
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Focus on early disbursement of RFI: Sanchez

The focus of both International Monetary Fund (IMF) and government of Pakistan is on early disbursement of Rapid Financing Instrument (RFI) to deal swiftly with the emerging challenges on account of coronavirus (COVID-19), however, commitments to the Exte
Published 12 Apr, 2020 12:00am
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World Bank working on repurposing $2bn to help combat Covid-19

The World Bank is working on repurpose of up to $2 billion, to make available to support Pakistan's recovery initiatives of the pandemic through building on safety net programme, supporting employment through public works programme and micro-enterprises,
Published 11 Apr, 2020 12:00am
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ADB repurposes $50 million from NDRMF to help combat COVID-19

The Asian Development Bank (ADB) has repurposed $50 million from Pakistan's National Disaster Risk Management Fund (NDRMF) to support the government of Pakistan's preventive and response efforts to fight the outbreak of the novel coronavirus (COVID-19) in
Published 10 Apr, 2020 12:00am
Technology

PTA for rationalising tax regime for ICT sector

The Pakistan Telecommunication Authority (PTA) has recommended to the government to rationalise tax regime for information and communication technology (ICT) sector, and cut taxes on consumers of mobile phones and telecom operators to encourage new invest
Published 07 Apr, 2020 12:00am
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Construction package: IMF links it to certain conditions

The International Monetary Fund (IMF) has linked the government package for construction industry with "stringent" conditions of timelines, nature and goals, aimed at providing support to the most vulnerable segments of the population, suffered due to COV
Published 05 Apr, 2020 12:00am
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GDP growth to decelerate: ADB

An increase in inflation rate for Pakistan to 11.5 percent and a further downward revision of GDP growth rate to 2.6 percent for 2020 has been projected by Asian Development Bank attributed to a rise in food prices, with planned utility price hikes taking
Published 04 Apr, 2020 12:00am
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WB revises real GDP growth projection downward to 1.1 percent

The World Bank (WB) has revised the real GDP growth projection massively for Pakistan to 1.1 percent from an earlier projection of 2.4 percent for 2020 and 0.9 percent for 2021 from the earlier three percent on account of steep decline in economic activit
Published 04 Apr, 2020 12:00am
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Moody's scales down growth to 2-2.5 percent

Moody's Investors Service has revised downward the Gross Domestic Product (GDP) forecast for Pakistan from 2.9 percent to 2-2.5 percent, ie, by up to 0.9 percent for 2020.
Published 03 Apr, 2020 12:00am
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Pakistan to see marked weakening in debt metrics: Moody's

Pakistan would see a marked weakening in debt metrics because of large gross borrowing needs that raise interest payments when borrowing costs rise, and/or narrow revenue bases that push fiscal deficits wider when interest payments rise, says Moody's Inve
Published 31 Mar, 2020 12:00am
Technology

IT, ITeS export remittances surge 26.24 percent

Pakistan's information technology (IT) and IT-enabled Services (ITeS) export remittances have surged to $887.470 million at a growth rate of 26.24 percent during the first eight months of the fiscal year 2019-2020, compared to $702.990 million during the
Published 31 Mar, 2020 12:00am