National
May 4, 2021
ISLAMABAD: Federal Minister for Finance Shaukat Tarin has directed the Pakistan Bureau of Statistics (PBS) to ensure data collection for prevailing prices of different commodities from Ramazan Saasta/Saulahat Bazaar for wide coverage.
This directive has created an awkward situation for the PBS because it was mandated to collect the prices under defined methodology finalised through rebasing exercise and any change in methodology would distort the whole data of collection process for calculating inflation figures.
Although, the PBS officials are tight-lipped and no one was ready to say anything on the record, insiders say that the PBS was left with no other option but to refer this issue towards its high-powered technical committee and then go back to the National Price Monitoring Committee (NPMC) with its response in line with the recommendations finalised by this technical committee on how the directives of the finance minister could be incorporated for dat
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Business
May 1, 2021
ISLAMABAD: Pakistan has asked World Bank for $1.2 billion loans during the ongoing fiscal year, including $600 million for Pakistan Programme for Affordable and Clean Energy to reduce circular debt via cost cut in power generation, decarbonising energy mix, improving distribution, and retargeting electricity subsidies.
The proposed programme loan of $600 million would be given in the shape of $300 million IDA loan and remaining $300 million as IBRD financing. “Pakistan and the WB high-ups discussed $1.2 billion programme loans approval till June 30, 2021, for undertaking reforms on energy and fiscal side,” top official sources confirmed to The News on Friday.
Project financing has been slowed down in Pakistan due to various reasons, including lacklustre approach of executing agencies of donor funded projects. Therefore, authorities were now aiming to generate dollar inflows through programme loans, because its funding was disbursed after undertaking stru