World Bank On Pak

The World Bank has asked the Pakistani government to make tax reforms and remove the exemptions on duties and sales tax, Pakistan-based ARY News reported.

The International Monetary Fund faces tough choices on how to deal with Pakistan after the February election and how to assess the country's debt situation, a former central bank governor of the South Asian nation said.

Pakistan is on brink of crisis where it should decide to remain a laggard with 40% population living below poverty line under elite capture or change course to take off for a brighter future.

India on Wednesday said it has noted the World Bank's announcement to concurrently appoint a neutral expert and a chair of the Court of Arbitration in the matter relating to the Kishenganga and Ratle hydroelectric power projects.

Foreign exchange reserves held by Pakistan's Central Bank fell 0.61 per cent on a weekly basis, according to State Bank of Pakistan's data on Thursday.

Congress leader Rahul Gandhi took a dig at the Centre on Friday over IMF''s projection that the Indian economy is set to contract by a massive 10.3 per cent this year, saying it was another "solid achievement" by the government.

South Asia is on course for its worst economic performance in 40 years, with decades of progress in the battle against poverty at risk, because of coronavirus, the World Bank said Sunday.

An international arbitration court has imposed a penalty of $5.976 billion on Pakistan -- one of the biggest in its history -- for the unlawful denial of a mining lease to a company in 2011.

In a huge embarrassment for the Pakistan government, the Asian Development Bank or ADB has distanced itself from the "premature announcement" of Prime Minister Imran Khan's adviser that the global lender would provide a loan of USD 3.4 billion to the cash-strapped nation, saying "discussions are ongoing".

Pakistan's Supreme Court has told Prime Minister Imran Khan to pay a penalty if he wanted to get his posh Bani Gala property in Islamabad regularised. A three-member bench of the Pakistan Supreme Court headed by Chief Justice Saqib Nisar on Monday heard a case over encroachment at Bani Gala, a residential area on the eastern bank of Rawal Lake.

The New York State Department of Financial Services on Thursday said Pakistan's Habib Bank had agreed to pay $225 million to settle an enforcement action brought against it for infringing laws designed to combat illicit money transfers.

India is allowed to construct hydroelectric power facilities on tributaries of the Jhelum and Chenab rivers with certain restrictions under the 1960 Indus Waters Treaty (IWT), the World Bank has said.

The World Bank has said it will continue to be neutral and impartial in helping India and Pakistan find an "amicable way forward" during talks today on two of India's hydroelectricity projects in Jammu and Kashmir under the 57-year-old Indus Waters Treaty

India has fast-tracked hydro-power projects worth $15 billion in Kashmir in recent months, according to news agency Reuters, which based its report on three unnamed central and state officials. The acceleration by India ignores warnings from Islamabad that power stations on rivers flowing into Pakistan will disrupt water supplies.

Pakistan Prime Minister Nawaz Sharif is under fire for spending a whopping Rs 63.8 crore on his foreign trips and living at least every fifth day of his tenure out of the cash-strapped country.

The World Bank has asked the Pakistani government to make tax reforms and remove the exemptions on duties and sales tax, Pakistan-based ARY News reported.

The International Monetary Fund faces tough choices on how to deal with Pakistan after the February election and how to assess the country's debt situation, a former central bank governor of the South Asian nation said.

Pakistan is on brink of crisis where it should decide to remain a laggard with 40% population living below poverty line under elite capture or change course to take off for a brighter future.

India on Wednesday said it has noted the World Bank's announcement to concurrently appoint a neutral expert and a chair of the Court of Arbitration in the matter relating to the Kishenganga and Ratle hydroelectric power projects.

Foreign exchange reserves held by Pakistan's Central Bank fell 0.61 per cent on a weekly basis, according to State Bank of Pakistan's data on Thursday.

Congress leader Rahul Gandhi took a dig at the Centre on Friday over IMF''s projection that the Indian economy is set to contract by a massive 10.3 per cent this year, saying it was another "solid achievement" by the government.

South Asia is on course for its worst economic performance in 40 years, with decades of progress in the battle against poverty at risk, because of coronavirus, the World Bank said Sunday.

An international arbitration court has imposed a penalty of $5.976 billion on Pakistan -- one of the biggest in its history -- for the unlawful denial of a mining lease to a company in 2011.

In a huge embarrassment for the Pakistan government, the Asian Development Bank or ADB has distanced itself from the "premature announcement" of Prime Minister Imran Khan's adviser that the global lender would provide a loan of USD 3.4 billion to the cash-strapped nation, saying "discussions are ongoing".

Pakistan's Supreme Court has told Prime Minister Imran Khan to pay a penalty if he wanted to get his posh Bani Gala property in Islamabad regularised. A three-member bench of the Pakistan Supreme Court headed by Chief Justice Saqib Nisar on Monday heard a case over encroachment at Bani Gala, a residential area on the eastern bank of Rawal Lake.

The New York State Department of Financial Services on Thursday said Pakistan's Habib Bank had agreed to pay $225 million to settle an enforcement action brought against it for infringing laws designed to combat illicit money transfers.

India is allowed to construct hydroelectric power facilities on tributaries of the Jhelum and Chenab rivers with certain restrictions under the 1960 Indus Waters Treaty (IWT), the World Bank has said.

The World Bank has said it will continue to be neutral and impartial in helping India and Pakistan find an "amicable way forward" during talks today on two of India's hydroelectricity projects in Jammu and Kashmir under the 57-year-old Indus Waters Treaty

India has fast-tracked hydro-power projects worth $15 billion in Kashmir in recent months, according to news agency Reuters, which based its report on three unnamed central and state officials. The acceleration by India ignores warnings from Islamabad that power stations on rivers flowing into Pakistan will disrupt water supplies.

Pakistan Prime Minister Nawaz Sharif is under fire for spending a whopping Rs 63.8 crore on his foreign trips and living at least every fifth day of his tenure out of the cash-strapped country.