ECC recommends PIACL restructuring plan for onward submission before cabinet
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The ECC approved Rs280 million for the Ministry of Information Technology and Telecommunications.
ISLAMABAD (Dunya News) - The Economic Coordination Committee (ECC) of the Cabinet on Wednesday recommended the restructuring plan of Pakistan International Airlines Corporation Limited (PIACL) for onward submission before the cabinet, after reconciliation of tax liability figures.
The committee, the meeting of which was chaired by Federal Minister for Finance, Revenue, Industries and Production, Muhammad Hammad Azhar, however directed to place a cap on future debt which PIACL could take against its improved balance sheet, once restructuring plan was implemented.
Spat between PM’s aide, Saudi investor clouds KE deal prospects
Sun Online Desk
8th April, 2021 01:50:28
In a dramatic turn that may forestall an early settlement of tens of billions of dues between K-Electric and state-owned entities, Saudi investor Abdulaziz H. Aljomaiah and Special Assistant to the Prime Minister on Power Tabish Gauhar publicly accused each other of conflict of interest and attempts to fleece the state and Karachi-based power consumers.
In a letter to Prime Minister Imran Khan, Mr Aljomaiah said that during his last month’s visit to Pakistan he had been given a clear understanding by the former and his cabinet members about settlement of issues but complained that “last minute negative comments on the agreed document by your SAPM [Mr Gauhar]” had potentially put at risk the takeover of KE by Shanghai Electric.
April 8, 2021
The International Monetary Fund (IMF) has predicted Pakistan’s Gross Domestic Product (GDP) to grow by 4.0 percent by next fiscal year (2021-22).
In its annual report “World Economic Outlook 2021”, the IMF has forecast 1.5 GDP growth for Pakistan during the current fiscal year 2020-21.
This however, is in contrast to the revised growth forecast of 3.0 percent for current fiscal year by State Bank of Pakistan (SBP). The actual growth rate target set by the federal government for the corresponding year is 2.1 percent. Minister for Finance Hammad Azhar also reaffirmed the government’s resolve to have higher GDP growth than the target set for the current fiscal year.
ECC approves PIA restructuring plan dailytimes.com.pk - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from dailytimes.com.pk Daily Mail and Mail on Sunday newspapers.
Govt committed to structural reforms
Officials tell World Bank VP about steps being taken to streamline power sector
Federal Finance Minister Hammad Azhar addressing a presser at the Press Information Department (PID) in Islamabad on March 31, 2021. SCREENGRAB
ISLAMABAD:
The government is fully committed to implementing structural reforms, protecting social spending and boosting social safety nets in order to protect the vulnerable segments of society, said Finance Minister Hammad Azhar.
The minister’s comments came during a virtual meeting with World Bank Group South Asia Region Vice President Hartwig Schafer on Tuesday.
The finance minister appreciated the pivotal role being played by the World Bank in strengthening governance and service delivery through institutional reforms in Pakistan over the years.