India continues to remain the world’s fastest-growing major economy and the only country expected to clock over 6 per cent growth in the next two years, according to an IMF report released on Tuesday, which has trimmed the growth forecast for over 120 countries.
Union Minister for Finance and Corporate Affairs Nirmala Sitharaman will embark on an official visit to the United States and Peru tonight.
Sharif also announced a reduction in commodity prices of industrial units by Rs 7.59 during a special event attended by cabinet members and business community on Thursday.
Several ambassadors and top diplomats from Islamic nations attended a 'Sadhbhavana Iftar' hosted by the Indian Minorities Federation (IMF) in New Delhi on Thursday evening, lauding India's cultural heritage, harmony and Prime Minister Narendra Modi's commitment to 'Sabka Saath, Sabka Vikas, Sabka Vishwaas' initiative to reach all communities.
The World Bank has said that various economic shocks have resulted in nearly four million Pakistanis getting pushed into poverty this fiscal year.
The present government under Shehbaz Sharif has defrosted the IMF programme (frozen in March 2022) and is in the throes of negotiations for its speedy resuscitation
The fresh drop came after the government failed to make any headway in its talks with the International Monetary Fund (IMF) for the revival of its stalled USD 6.5 billion loan programme.
In what appears to be an alternative to the International Monetary Fund (IMF), Pakistan Finance Minister Ishaq Dar expressed hope to receive a $3 billion second bailout from Saudi Arabia within days, vowing to raise money through sale of assets to beef up the critically-low foreign exchange reserves.
It added that the recovery was accompanied by significant fiscal consolidation and social support for the most vulnerable.
