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Saturday
May 2019
9:04 AM IST
News Headlines
Day after BJP''s massive victory, all eyes now on govt formation        Cong-JDS cabinet reposes faith in Kumaramaswamy after dismal show in LS polls        Surat: 19 students die as fire engulfs commercial complex        Britain''s Brexit-beaten Theresa May announces resignation, to step down on June 7        Two more Indian mountaineers die on Mount Everest, toll of Indians rises to 8        Nadal, Federer set up potential semifinal at Roland Garros        India, New Zealand seek tune-up in warm-up clash        Federer, Nadal threaten Djokovic bid for historic Slam        Uncertainty over Serena fitness, Osaka form at Roland Garros        Sensex, Nifty hit record highs as early trends hint at NDA win        Rupee rises 26 paise to 69.40/USD in early trade ahead of Lok Sabha elections outcome        Chinese man guilty of defrauding Apple out of 1,500 iPhones        US aviation regulator says Boeing hasn't submitted 737 MAX fix        Indian among 18 people arrested in Nigeria for illegal bunkering        US-Japan vision for Indo-Pacific serves as foundation for global partnership: White House        Rahul elected from Wayanad LS seat        Will approach party high command against Sidhu: Amarinder Singh        Amit Shah wins Gandhinagar seat by margin of 5.57 lakh votes        People of India decided Narendra Modi as PM, I fully respect it: Rahul Gandhi        BJP set to return to power as Modi wave sweeps most of India        
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Business News
Pak to continue talks with IMF on bailout over weekend
 
Islamabad: The talks between cash-strapped Pakistan and the IMF will continue over the weekend after the parleys between the two sides reached a deadlock due to Prime Minister Imran Khan''s reservations over heavy taxation the people would have to bear, according to a media report on Saturday. Head of IMF Mission to Pakistan Ernesto Rigo is currently in Islamabad as the country hopes to strike a deal with the global lender for a three-year bailout package totalling around USD 6.5 billion. “We have made good progress in our discussions with the visiting IMF Mission.

Consultations will continue over the weekend,” Khaqan Hasan Najeeb, the spokesman of the Finance Ministry, was quoted as saying by the Express Tribune. Sources in the ministry of finance said that there were at least three main sticking points that led to inconclusive talks till the last day of the IMF visit.

As of Thursday, the top management of the Ministry of Finance was hopeful to conclude the deal and the IMF team had planned to return on May 11, the report said. But things went off the track after the IMF insisted on inclusion of some new conditions in the programme, which appeared unreasonable. Prime Minister Imran Khan also expressed reservations over massive additional taxes burden that the nation will bear from July this year, provided both sides reach an agreement, it said. Pakistan has accepted the IMF''s demands of flexible exchange rate regime, withdrawal of subsidies, containing borrowing from the central bank and reinitiating the privatisation programme.

The talks remained inconclusive despite Pakistan conceded to almost everything that the IMF asked for, the report said. Pakistan and the IMF are engaged to finalise the bailout package for the past eight months. It was the second visit by the IMF staff level team during the past five months that again could not conclude the deal within the due time. The sources said the IMF has sent a draft of the proposed agreement to Washington for vetting that includes some new conditions which were not part of negotiations in the first round of talks.


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KERALA NEWS
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INTERNATIONAL NEWS
Britain''s Brexit-beaten Theresa May announces resignation, to step down on June 7
 London: An embattled Theresa May announced Friday that she would resign as the UK''s Conservative le
Two more Indian mountaineers die on Mount Everest, toll of Indians rises to 8
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NATIONAL NEWS
Day after BJP''s massive victory, all eyes now on govt formation
 New Delhi: As the BJP swept to power with a spectacular performance for a second term, all eyes are
Cong-JDS cabinet reposes faith in Kumaramaswamy after dismal show in LS polls
Will approach party high command against Sidhu: Amarinder Singh
Amit Shah wins Gandhinagar seat by margin of 5.57 lakh votes
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