Pakistan has been asked to pay back the USD 3 billion loan it took out from Saudi Arabia in a year, with 4% interest added to the loan each quarter.
Economy
According to SBP press statement, the enhanced credit limit will also enable banks to align the loan amounts with the actual requirements of farmers and resultantly enhance flow of agriculture credit.
From April 2022, PIA can commence its commercial operations to Australian and direct flights would reduce travel time to 13 hours against current 34 hours air journey
He said that a huge amount Rs3 trillion tax dues of FBR and Rs 250 billion of the regulatory bodies were pending due to court cases and added that if the term of stay orders is fixed, it would be beneficial for the country and the nation.
During the ceremony, Rs53 million prizes were distributed among 1,007 winners through balloting on QR Code Receipt generated through Point of Sale (POS) here at the FBR headquarters
The ex-depot price of petrol has been set at Rs159.86 per litre instead of Rs147.83 per litre, an increase of Rs12.03 per litre or 8.14 percent. The petrol duty was raised from Rs13.92 to Rs17.92 per litre.
The premier said that it is a way to improve saving rates and tax to GDP ratio in order to lead the country towards progress.
Meanwhile, further hike in electricity prices will occur as a result of the IMF and World Bank’s desire to eliminate power sector subsidies in Phase II of the Subsidy Reform.