The Chief of Army Staff, General Qamar Javed Bajwa, has requested assistance from Washington in achieving an early transfer of funds from the International Monetary Fund in order to help stabilize Pakistan's shrinking economy. Deputy Secretary of State Wendy Sherman, according to security sources, spoke with the army chief earlier this week. It is stated that the army chief made a plea to the White House and Treasury Department to get the IMF to immediately supply the almost $1.2 billion that the country is slated to receive under a reopened loan program. "Staff-level approval" for the loan was granted by the International Monetary Fund (IMF) on July 13. IMF Executive Board clearance is required before the transaction can be completed as part of Pakistan's $6 billion Extended Fund Facility. The International Monetary Fund (IMF) will be on vacation for the next three weeks, and its board will not meet until late August at the earliest. According to an IMF official wh...
The Ministry of Railways has resolved to reduce train tariffs by 5 to 10%.
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Following the decrease in the price of petroleum products, the Ministry of Railways has agreed to drop train tariffs by 5 to 10%, according to ARY News on Friday.
Railways Minister Saaf Rafique has asked the administration to decrease train rates after the government reduced fuel and diesel prices by Rs18.50 and Rs40.54 per liter, respectively.
A conference to adjust and notify railway tariffs will be held soon, presided over by Secretary Railways Zafar Ranjha. According to sources, freight and parcel train prices are also expected to be slashed.
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