$ 2.3 bn Chinese loan credited to State Bank of Pakistan: Finance minister

Pakistani Finance Minister Miftah Ismail said on Friday that a loan of USD 2.3 billion from a Chinese consortium of banks had been credited to the central bank’s account. Taking to Twitter, Ismail wrote, “I am pleased to announce that Chinese consortium loan of RMB 15bn (roughly USD 2.3 bn) has been credited into State … Read more

MPs censure Finance Minister Kamal for offering amnesty to money launderers

In the budget unveiled last Thursday for FY23, the minister proposed a 15 percent tax on immovable property located abroad, and a 10 percent tax on movable asset if it is brought back to the country. Kamal also proposed a 7 percent tax on remittances coming into Bangladesh as part of his desperate efforts to … Read more

Contours of public sector assets management changed: Finance Minister

The contours of public sector assets management in the country have changed with the government recently articulating a directional change on public assets, Minister for Finance and Corporate Affairs Nirmala Sitharaman said in Bengaluru on Friday. She was inaugurating a conference, “Creating wealth through markets”, as part of Azadi Ka Amrit Mahotsav being organized in … Read more

State of the economy cause of ‘extreme concern’, says P Chidambaram

Asserting that the state of the economy is a cause of “extreme concern”, senior Congress leader P Chidambaram on Saturday said taking into account global and domestic developments, it may be necessary to contemplate a reset of economic policies. Addressing a press conference, Chidambaram said a slower rate of growth has been the “hallmark” of … Read more