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Finance minister says, ‘Heading for big program with IMF’

The Federal Finance Minister stated that there will be talks with the IMF on April 14 and 15. They will continue micro-economic stability with the IMF.

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Karachi: Federal Finance Minister Muhammad Aurangzeb Friday said: “We are heading towards a big program with International Monetary Fund (IMF)”.

Addressing the ceremony at the Stock Exchange in Karachi, the Federal Finance Minister stated that there will be talks with the IMF on April 14 and 15. There will be a meeting with the IMF officials in Washington soon. They will continue microeconomic stability with the IMF.

He added that thanks to better economic policies, the economy will be stable soon. The caretaker government also took the best steps to improve the economy, the staff level agreement with the IMF is important for economic stability.

Muhammad Aurangzeb continued to say, ‘The stock market has an important role in the improvement of the economy, looking at the situation, it seems that the stock market is going in the right direction. There is growth, good production of rice and wheat’.

He further said that they are working fast for reforms in Federal Bureau of Revenue (FBR). The tax leakages have to be stopped in FBR, the revenue cases of Rs1.07 trillion are pending, efforts will be made to decide on them. Whether the results of the case do not go in favor of the FBR, but there should be a solution to the problem. There is a need for reforms in the energy sector as well.

The federal minister further stated that thanks to better economic policies, the economy will be stabilized soon, all these achievements are the Stand By Agreement (SBA) of Shehbaz Sharif's previous era, the inflation rate has decreased, the exchange rate is also stable.

Muhammad Aurangzeb further added that they are working to outsource the airports and privatization of Pakistan International Airlines (PIA). Aleem Khan cannot do the privatization program alone, other ministries also have to work together, the work on the privatization of PIA has started. It is not government's job to do business.

Earlier, Federal Finance Minister Muhammad Aurangzeb attended the gong ceremony of Pakistan Stock Exchange and opened the business by ringing the traditional bell gong, Chinese director PSX Yuheng delivered the welcome speech in the ceremony.

On this occasion, Chairman Pakistan Stock Exchange Dr. Shamshad Akhtar while speaking through video link said that good steps are being taken for the improvement of the stock market.

She added that the banking sector is performing better in the stock market, we are considering serious agreements with the banking sector that will provide new opportunities to investors. The World Bank has indicated to work in the energy sector.

Dr. Shamshad Akhtar further said that we have to strengthen the linkages in the banking sector and capital market, the revenue system needs to be digitized.

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Five killed as roof collapses due to heavy rain in Balochistan

The police said that among the dead are laborers named Inayatullah, Ibrahim, Wali Muhammad, Zafarullah and Sadr-ud-din.

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Duki: In an unfortunate incident, five people were killed when the roof of a house collapsed in Duki district due to torrential rains in Northeast Balochistan.

According to the police officials, the roof of the house built for the accommodation of the workers outside the local coal mine collapsed due to the torrential rain and five workers were buried under the debris and died.

The police said that among the dead are laborers named Inayatullah, Ibrahim, Wali Muhammad, Zafarullah and Sadr-ud-din.

According to the police authorities, the bodies of the deceased were shifted to the hospital, from where they were sent to their native areas after necessary action.

Three of the dead miners belonged to Musa Khel, one Zhob and one laborer was a resident of Muslim Bagh.

On the other hand, after the rains, the highway connecting Punjab has been washed away in flood lanes at many places in Harnai.

In Kozhak Top, the highway has also been affected by flood at many places, while the national highway has been closed due to landslides in Dhanasar.

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Business

Delegations meet in Kabul on Pak-Afghan trade, transit facilities

Under the agreement, Pakistan will facilitate the transfer of goods from containers to regional containers at Karachi port.

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Kabul: During the two-day talks in Kabul, the delegations of Pakistan and Afghanistan have agreed to keep trade away from politics and keep people's interests in mind.

Agreeing on uninterrupted trade and transit relations in the negotiations, the delegations decided to finalize the 'Afghanistan Pakistan Transit Agreement' within two months.

Under the agreement, Pakistan will facilitate the transfer of goods from containers to regional containers at Karachi port.

In the preferential trade agreement between Pak-Afghan delegations, a temporary free permit for the movement of trucks was also agreed for one year which will come into effect from May 2024.

Under the agreement, it was also agreed to transfer goods in the form of multi-modal air transit through Pak-Afghan airports while it was decided to start multi-modal air transit in the next two months.

The agreement stated that Pakistan will terminate the condition of bank guarantee in one week for goods in transit from Afghanistan, as the former insurance will be considered sufficient.

The two delegations also agreed to take measures to remove other obstacles in mutual consultation while the delegations also agreed to refrain from border trade, establish and develop banking relations.

According to Afghan spokesman Zabihullah Mujahid, Pakistan has expressed its willingness to buy coal at the international price.

The Pakistani delegation for the talks was headed by Deputy Minister of Commerce Muhammad Khurram Agha, while the Afghan delegation was led by Acting Minister of Commerce Nurud-din-Azizi.

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