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Ishaq Dar expects IMF deal in next 24 hours

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LAHORE: Finance Minister Ishaq Dar said a staff-level agreement for a crucial bailout deal with the International Monetary Fund (IMF) was “very close” and expected in the next 24 hours. Pakistan is racing against time to unlock at least $1.1 billion under the lender’s ninth review of a $6.5-billion Extended Fund Facility (EFF) agreed in 2019. The programme expires on Friday. “We are very close to signing a staff-level agreement with the IMF,” minister Ishaq Dar told Reuters late on Thursday. “I think it should come some time tonight or maximum within 24 hours. We have finalised everything.” A source familiar with talks told Reuters that Pakistan and the global lender were also in discussions for the release of the full $2.5 billion pending under the IMF programme. The source said the staff-level agreement was to set to initially unlock around $1.1 billion and then be followed by a “standby agreement” which could release the rest after the programme finishes on Saturday. A repres...
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Karachi: Stampede breaks out during distribution of BISP funds

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KARACHI: Stampede broke out during the distribution of funds of the Benazir Income Support Programme (BISP) among deserving women in Karachi, ARY News reported, citing rescue sources.  The stampede broke out outside the BISP office near KPT Ground in Karachi’s Kemari area. As a result, 20 women lost fell unconscious. Getting the information, the rescue teams reached the spot and moved the women to the hospital. Last Monday, Benazir Income Support Programme (BISP) announced releasing the fourth quarterly tranche of Benazir Kafaalat cash assistance. Read more: ‘BISP budget enhanced up to Rs455bn in Budget 2023-24’ According to a press release, the fourth quarterly tranche would be Rs 9,000 per beneficiary, after 25 increase, which was announced by the federal government early this year. In addition to Benazir Kafaalat cash assistance, Benazir Taleemi Wazaif stipend’s instalment of January to March is also being disbursed to 6.7 million school-going students, having at least 70...
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CBS ex-CEO won’t get severance after sexual misconduct claims

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Les Moonves had been expected to receive up to $120 million as part of a severance package that will now not materialise. Photo: AFP Les Moonves, the onetime head of CBS, was fired for cause and will not receive a severance package in the wake of sexual misconduct allegations, the television network announced Monday. Moonves, who transformed the corporation into the most watched television network in the country, was one of the most respected executives in Hollywood until he was first publicly accused. Two articles published by The New Yorker — in July and in September — detailed allegations against the 69-year-old television titan from 12 different women. He resigned in September. At the time, CBS said Moonves and the network would donate $20 million to supporting the #MeToo movement and equality for women in the workplace. CBS said a company investigation found Moonves guilty of "willful and material misfeasance," and said he refused to cooperate with the probe. He had been...
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