The funds are being diverted to flood use from money already earmarked for Pakistan.
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World Bank, IMF step up aid to Pakistan
The World Bank raised flood aid to $1bn while the IMF approved $450mn in emergency financing to help Pakistan. -
IMF, Pakistan to issue statement on review Sept 2
The statement in Washington by Kahn and Shaikh follows a week of talks against the backdrop of flooding in Pakistan. -
Restructuring of bourses’ boards ruled out
"Certain elements are trying to create an impression that a non-member director could not become KSE board chairman." -
Flood loss estimates rise to $43bn: PM
Gilani said the government has released massive funds to the provinces under the 7th NFC Award. -
Afghan bank's bosses ousted to avert meltdown
The suspect dealings at Kabul Bank have sparked huge losses that could undermine the US-led war against the Taliban. -
Flood tax on imports and income likely
This will be in addition to a 5-10 per cent flood surcharge on all incomes exceeding Rs300,000 per annum.
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EDITOR'S CHOICE
POINT OF VIEW
Give Pakistan the democracy it deserves
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Economic and Business Review
MEDIA GALLERY
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Industrial life in Japan and China
HIGHLIGHTS
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Unjust taxation
Why must the already taxed be burdened more when so many enjoy comfortable lives outside the tax net? -
NPLs may cross Rs500bn in FY11
The SBP has indicated that the NPLs would increase by Rs48 bn this fiscal year. -
Cabinet decisions ignored
The PM will have to deal with this issue sooner than later if the economy is to be fixed. -
Dewan City facing flood threat
The Dewan City is 22kms away from Sujawal. -
IMF’s ‘short breather’
It indicated last week its willingness to ease the terms of the loan and provide additional funds. -
Uncertainty at SBP
Without a full-term governor much of what needs to be done cannot be done adequately.
WEATHER - PAKISTAN
Cities
THE CROP SOLUTION
“Unless people get seeds over the next few weeks they will not be able to plant wheat for a year.”
AUTO SECTOR
Where the auto industry has localized, it has produced thousands of jobs and an extensive vendor industry.
MARKET TACTICS
It will be ultimately brokers who will lose value of their huge investments and will come to rescue the situation.
PROSPERING NEIGHBOUR
India, the world’s largest market for gold, consumes around 700 tonnes of the metal a year.
SINKING INDUSTRY
"Already expensive leather products would soar higher beyond people’s purchasing power."
EYEING THE SHORTFALL
Indian producers will seek to take advantage of a government decision last week to lift a ban on exports.
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