Saturday, December 19th, 2015
Pakistan-Saudi Arabia desirous of global peace’
KARACHI, 19 DEC (DNA) – The passing out parade of 104th Midshipmen Commissioning and 13th SSC course of Pakistan Navy was held in Karachi on Saturday. Vice Admiral of Saudi Naval Forces Abdullah Al Sultan was the chief guest. Naval Chief Admiral Muhammad Zakaullah was also present on the occasion. Addressing the ceremony, the Saudi Vice Admiral said Pakistan and Saudi Arabia have unanimity of views on regional and international issues. He said the two countries are desirous of global peace and stability. They are committed to eliminate extremism andRead More
ECC approves $200m equity share for TAPI gas pipeline
ISLAMABAD, 19 DEC (DNA) – The Economic Coordination Committee has approved two hundred million dollars equity share of Pakistan for the Turkmenistan-Afghanistan-Pakistan-India gas pipeline project. The meeting was held in Islamabad and presided over by Finance Minister Mohammad Ishaq Dar. The ECC also approved release of 12 million dollars out of this share for the preliminary works in four equal tranches starting from next month as per the disbursement plan. Overall cost of TAPI project is 10 billion dollars and Turkmenistan has agreed to contribute 85 per cent of equity.Read More
IMF approves 10th tranche of $498.1m for Pakistan
ISLAMABAD, 19 DEC (DNA) – International Monetary Fund has approved the 10th tranche of US$498.1 million for Pakistan under the Extended Fund Facility. The approval was given by the IMF Executive Board in Washington after it completed the ninth review of Pakistan‘s economic performance under a 36-month program supported by an Extended Fund Facility (EFF) arrangement. “The Executive Board‘s decision enables the immediate disbursement of an amount equivalent to SDR 360 million (about US$498.1 million), bringing total disbursements to SDR 3.6 billion (about US$ 4.98 billion),” a press release stated.Read More