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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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Justice (retd) Maqbool Baqar named Sindh caretaker CM

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KARACHI: Justice (retd) Maqbool Baqar has been named as Sindh caretaker chief minister (CM) as outgoing provincial chief executive Murad Ali Shah and Leader of Opposition in provincial assembly Rana Ansar agreed on his name, ARY News reported on Monday. The outgoing chief minister and the opposition leader finalised Maqbool Baqar’s name during a meeting at the CM House. They subsequently signed and sent the advice to the Governor Sindh for the final approval. Although the name of Justice (retd) Maqbool Baqar has been approved, sources told ARY News that he would be sworn in on tomorrow (Tuesday, August 15). Chief Secretary Sindh will issue the notification of appointment of Justice (retd) Maqbool Baqar as caretaker Sindh Chief Minister (CM). Read More:  Justice (R) Maqbool Baqar among candidates for Sindh caretaker CM It is pertinent to mention here that Governor Kamran Tessori dissolved the  Sindh Assembly  at the advice of Chief Minister Syed Murad Ali Shah on Fri...
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