<p>An interim Budget for 2024-25 will be presented by India's Finance Minister Nirmala Sitharaman on February 1, months before the country holds its next general elections.</p>

<p>The complete budget for the fiscal year 2024-25 will be tabled in the Parliament after the new government's formation post the general elections.</p>

<p>Sitharaman, while speaking about the interim Budget in December, ruled out the possibility of any “spectacular announcement” in her sixth budget on February 1, adding that it will simply be a “vote on account” before the next general elections.</p>

<p>“No spectacular announcements come in that time (in a vote on account). So you will have to wait till after the new government comes in and presents the next full budget in July 2024,” the minister had stated while responding to a question regarding a “supercharged budget” in her address at the CII Global Economic Policy Forum.</p>

<h2><strong>What is an interim Budget and how it differs from a full-fledged budget?</strong></h2>

<p>The interim Budget presented by an outgoing government outlines its anticipated expenditures and receipts till the formation of the new government.</p>

<p><strong>Also read:</strong>&nbsp;<a href="https://www.wionews.com/business-economy/indias-women-gear-up-for-budget-day-hoping-for-policies-that-drive-growth-and-equality-682322">Budget 2024: India’s women hope for greater gender equity</a></p>

<p>Meanwhile, a comprehensive budget includes the different facets of government finances, which include earnings, spending, allocations, and policy declarations.</p>

<p>A complete budget is a strategic guide which charts the economic trajectory of the country for a complete fiscal year whereas only the financial information regarding the transitional period is provided in the interim Budget.</p>

<p>Also before the interim Budget, the government does not present the Economic Survey, which is a document prepared by the Chief Economic Advisor (CEA) and is generally presented a day before the Union Budget on February 1 each year.</p>

<p>This is because the regular budget process carries the chance of getting disrupted if there is a change in government.</p>

<p>In the wake of general elections to be held between April and May 2024, it is expected that a complete budget will be presented by the new government in July 2024.</p>

<p><strong>Watch:&nbsp;Explained: India's interim budget 2024</strong></p>

<div class="videoWrapper trancodeVideo"><iframe allowfullscreen="" autoplay="1" class="includeVideo" frameborder="0" height="350" src="https://www.wionews.com/videos/explained-indias-interim-budget-2024-684961/embed" style="width:100%;max-width:560px;" width="560"></iframe></div>

<p>On February 1, FM Sitharaman will table an interim Budget for the fiscal year 2024-25 in Parliament, which will come into effect from April 1, 2024.</p>

<p>In the past years, the incumbent government has always avoided major policy announcements during a vote on account, although no constitutional prohibition exists which stops the government from making substantial announcements.</p>

<h2><strong>Why it is called a ‘vote on account’?</strong></h2>

<p>An interim Budget conventionally is also called a ‘vote-on-account’ because it serves as an authorisation to incur specific expenditures which is necessary till a new government comes to power.</p>

<p>The Election Commission of India imposes certain limitations on the interim Budgets to ensure they have no undue influence on the voters. As per the limitations, the government is not allowed to propose major taxes or policy reforms in the interim Budget because that can influence people to vote in favour of the ruling dispensation.</p>

<p>"I am not going to play a spoilsport, but it is a matter of truth that the February 1, 2024, budget that will be announced will just be a vote-on-account because we will be in an election mode. So the budget that the government presents will just be to meet the government's expenditure till a new government comes to play," said FM Sitharaman&nbsp;in December.</p>

<p>Generally, a vote-on-account remains effective for a period of two months and can get an extension if required.</p>

<p>As per the Constitution's Article 116, a vote-on-account is an upfront allocation of budget from the ‘Consolidated Fund of India’ to the incumbent government and has been designated specifically to address immediate expenditure needs.</p>

<p><em>(With inputs from agencies)</em></p>


An interim Budget for 2024-25 will be presented by India's Finance Minister Nirmala Sitharaman on February 1, months before the country holds its next general elections.

An interim Budget for 2024-25 will be presented by India's Finance Minister Nirmala Sitharaman on February 1, months before the country holds its next general elections. The complete budget for the fiscal year 2024-25 will be tabled in the Parliament after the new government's formation post the general elections. Sitharaman, while speaking about the interim Budget in December, ruled out the possibility of any “spectacular announcement” in her sixth budget on February 1, adding that it will simply be a “vote on account” before the next general elections. “No spectacular announcements come in that time (in a vote on account). So you will have to wait till after the new government comes in and presents the next full budget in July 2024,” the minister had stated while responding to a question regarding a “supercharged budget” in her address at the CII Global Economic Policy Forum. What is an interim Budget and how it differs from a full-fledged budget? The interim Budget presented by an outgoing government outlines its anticipated expenditures and receipts till the formation of the new government. Also read: Budget 2024: India’s women hope for greater gender equity Meanwhile, a comprehensive budget includes the different facets of government finances, which include earnings, spending, allocations, and policy declarations. A complete budget is a strategic guide which charts the economic trajectory of the country for a complete fiscal year whereas only the financial information regarding the transitional period is provided in the interim Budget. Also before the interim Budget, the government does not present the Economic Survey, which is a document prepared by the Chief Economic Advisor (CEA) and is generally presented a day before the Union Budget on February 1 each year. This is because the regular budget process carries the chance of getting disrupted if there is a change in government. In the wake of general elections to be held between April and May 2024, it is expected that a complete budget will be presented by the new government in July 2024. Watch: Explained: India's interim budget 2024 On February 1, FM Sitharaman will table an interim Budget for the fiscal year 2024-25 in Parliament, which will come into effect from April 1, 2024. In the past years, the incumbent government has always avoided major policy announcements during a vote on account, although no constitutional prohibition exists which stops the government from making substantial announcements. Why it is called a ‘vote on account’? An interim Budget conventionally is also called a ‘vote-on-account’ because it serves as an authorisation to incur specific expenditures which is necessary till a new government comes to power. The Election Commission of India imposes certain limitations on the interim Budgets to ensure they have no undue influence on the voters. As per the limitations, the government is not allowed to propose major taxes or policy reforms in the interim Budget because that can influence people to vote in favour of the ruling dispensation. "I am not going to play a spoilsport, but it is a matter of truth that the February 1, 2024, budget that will be announced will just be a vote-on-account because we will be in an election mode. So the budget that the government presents will just be to meet the government's expenditure till a new government comes to play," said FM Sitharaman in December. Generally, a vote-on-account remains effective for a period of two months and can get an extension if required. As per the Constitution's Article 116, a vote-on-account is an upfront allocation of budget from the ‘Consolidated Fund of India’ to the incumbent government and has been designated specifically to address immediate expenditure needs. (With inputs from agencies)

India Budget 2024: What is an interim Budget? How is it different from a regular budget?

South Korean President Yoon Suk Yeol is likely to announce a major cabinet reshuffle as early as Monday, with as many as 10 ministers including the finance minister set to be replaced, Yonhap news agency reported. The transport and labour ministers may also be changed, Yonhap said, citing unidentified sources.

President Yoon Suk-Yeol replaces finance minister Choo Kyung-Ho

<p>Pakistan&nbsp;Finance Minister Shamshad Akhtar, while interacting with the media reporters on Thursday (Nov 16), said that the country is likely to need financial aid from the International Monetary Fund and hence, is likely to seek another bailout from the international multilateral lender.<br />
<br />
“We need to continue with the IMF as our economy is still fragile and we will possibly seek another loan,” stated Akhtar, who is the finance minister of the caretaker government.</p>

<p><strong>Also read:</strong>&nbsp;<a href="https://www.wionews.com/entertainment/angelina-jolies-calls-out-pakistan-as-it-deports-afghan-refugees-658503">Angelina Jolie calls out Pakistan as it deports Afghan refugees</a></p>

<p>The comment was made by the minister a day after a staff-level agreement for a $700 million payout was reached by the South Asian nation with the IMF under an existing programme, which highlighted the deepening financial crisis being faced by the country that is battling economic and political turmoil.<br />
<br />
Pakistan's dollar-denominated debt of around $1 billion is coming due next year after the elections are conducted in February. Although the country is on the path of economic recovery, the country is susceptible to significant external risks, stated the IMF in a statement on Wednesday (Nov 15) after successfully concluding talks with the caretaker government of Pakistan.</p>

<h2><strong>Pakistan to hold elections in February</strong></h2>

<p>The interim government's term ends in February as the country votes in national elections to elect a new administration.<br />
<br />
Akhtar stated that the caretaker government will try to speak to the IMF for the next programme as the country will need the help of the international lender to consolidate macroeconomic stability. She stated that the foreign reserves of the country will increase in December after the materialisation of the pledges made by global lenders.<br />
<br />
A plan of raising funds from the global bond market was postponed by Pakistan as it won't fetch them the best price, stated the minister, further adding that the country is looking for other funding sources.</p>

<p><strong>Watch:&nbsp;Gravitas: Who is killing terrorists in Pakistan?</strong></p>

<div class="videoWrapper trancodeVideo"><iframe allowfullscreen="" autoplay="1" class="includeVideo" frameborder="0" height="350" src="https://www.wionews.com/videos/gravitas-who-is-killing-terrorists-in-pakistan-659036/embed" style="width:100%;max-width:560px;" width="560"></iframe></div>

<p>A default on its debt was averted by Pakistan after it secured the current nine-month loan programme in July from the IMF and it is expected that the completion of its first review along and inflows from other lenders will boost its dwindling reserves which fell $115 million to $7.4 billion. This decline is equivalent to less than two months of the country's imports.<br />
<br />
The IMF agreement also gave a boost to the caretaker government of Pakistan under Prime Minister Anwaar-ul-Haq Kakar. The prime minister is making an attempt to secure $6.3 billion in loans from the Asian Development Bank, World Bank, and Islamic Development Bank, and around $10 billion in bilateral funding from creditor nations.<br />
<br />
As per reports, investors have been showing optimism about the fiscal recovery of Pakistan on the back of the IMF loan that has increased by more than 50 per cent return on its dollar bonds this year.</p>

<p><em>(With inputs from agencies)</em></p>


Pakistan Finance Minister Shamshad Akhtar, while interacting with the media reporters on Thursday (Nov 16), said that the country is likely to need financial aid from the International Monetary Fund and hence, is likely to seek another bailout from the international multilateral lender.

Pakistan Finance Minister Shamshad Akhtar, while interacting with the media reporters on Thursday (Nov 16), said that the country is likely to need financial aid from the International Monetary Fund and hence, is likely to seek another bailout from the international multilateral lender. “We need to continue with the IMF as our economy is still fragile and we will possibly seek another loan,” stated Akhtar, who is the finance minister of the caretaker government. Also read: Angelina Jolie calls out Pakistan as it deports Afghan refugees The comment was made by the minister a day after a staff-level agreement for a $700 million payout was reached by the South Asian nation with the IMF under an existing programme, which highlighted the deepening financial crisis being faced by the country that is battling economic and political turmoil. Pakistan's dollar-denominated debt of around $1 billion is coming due next year after the elections are conducted in February. Although the country is on the path of economic recovery, the country is susceptible to significant external risks, stated the IMF in a statement on Wednesday (Nov 15) after successfully concluding talks with the caretaker government of Pakistan. Pakistan to hold elections in February The interim government's term ends in February as the country votes in national elections to elect a new administration. Akhtar stated that the caretaker government will try to speak to the IMF for the next programme as the country will need the help of the international lender to consolidate macroeconomic stability. She stated that the foreign reserves of the country will increase in December after the materialisation of the pledges made by global lenders. A plan of raising funds from the global bond market was postponed by Pakistan as it won't fetch them the best price, stated the minister, further adding that the country is looking for other funding sources. Watch: Gravitas: Who is killing terrorists in Pakistan? A default on its debt was averted by Pakistan after it secured the current nine-month loan programme in July from the IMF and it is expected that the completion of its first review along and inflows from other lenders will boost its dwindling reserves which fell $115 million to $7.4 billion. This decline is equivalent to less than two months of the country's imports. The IMF agreement also gave a boost to the caretaker government of Pakistan under Prime Minister Anwaar-ul-Haq Kakar. The prime minister is making an attempt to secure $6.3 billion in loans from the Asian Development Bank, World Bank, and Islamic Development Bank, and around $10 billion in bilateral funding from creditor nations. As per reports, investors have been showing optimism about the fiscal recovery of Pakistan on the back of the IMF loan that has increased by more than 50 per cent return on its dollar bonds this year. (With inputs from agencies)

Pakistan to need another IMF bailout after $700 million payout, says finance minister

<p>Ukraine is finding it harder to secure financial support as the attention of officials in key donor countries shifts to upcoming elections and geopolitical tensions heighten, Finance Minister Serhiy Marchenko told Reuters on Saturday.</p>

<p>"I see a lot of tiredness, I see a lot of weakness among our partners, they would like to forget about the war but the war is still ongoing, full-scale," Marchenko said on the sidelines of the International Monetary Fund (IMF) and World Bank meetings in Marrakech.</p>

<p>He said Ukraine is making "twice the effort right now to convince our partners to provide us with support compared to the last annual meetings" in April.</p>

<p>Also Read |&nbsp;<a href="https://www.wionews.com/world/butcher-of-khan-yunis-yahya-sinwar-is-our-osama-bin-laden-israel-647098">'Butcher of Khan yunis' Yahya Sinwar is our Osama bin Laden: Israel</a></p>

<p>As the war with Russia rages on, Ukraine needs to secure Western financial support to cover a $43 billion budget gap in 2024. Talks this week have been overshadowed by the conflict between Israel and Hamas, which broke out just as delegates were making their way to Marrakech.</p>

<p>Marchenko said "a geopolitical shift and internal political context in different countries" was dampening governments' appetite to support Ukraine, mentioning elections scheduled in the U.S. and the European Union next year.</p>

<p>Ukraine has earmarked additional tax receipts and funds to be raised from internal debt, but it will be dependent on outside help for the bulk of next year's spending requirements.</p>

<p>Also Read |&nbsp;<a href="https://www.wionews.com/world/pizzeria-in-west-bank-demolished-over-controversial-holocaust-survivor-ad-647062">Pizzeria in West Bank demolished over controversial Holocaust survivor ad</a></p>

<p>"We already have some commitments, like $5.4 billion from the IMF programme, and we expect commitments from Japan and United Kingdom, and of course, we rely on our key partners and allies the United States and European Union," Marchenko said in the interview.</p>

<p>The EU is working on a 50 billion-euro ($52.6 billion)Ukraine package for 2024 through 2027. Marchenko said Ukraine is seeking 18 billion euros of that in 2024, matching the package received for this year.</p>

<p><strong>Watch |&nbsp;<a href="https://www.wionews.com/videos/israel-palestine-war-us-to-move-second-aircraft-carrier-to-mediterranean-647075">Israel-Hamas war: US to move second aircraft carrier to Mediterranean</a></strong></p>

<div class="ui-state-default" contenteditable="false">
<div class="twitter-block" draggable="false">
<div class="videoWrapper trancodeVideo"><iframe allowfullscreen="" autoplay="1" class="includeVideo" frameborder="0" height="350" src="https://www.wionews.com/videos/israel-palestine-war-us-to-move-second-aircraft-carrier-to-mediterranean-647075/embed" style="width:100%;max-width:560px;" width="560"></iframe></div>
</div>
<a class="close-mark close-div" href="#" id="jqclosemark">×</a></div>

<p>Marchenko welcomed the efforts to harness frozen Russian state assets, saying that what was previously portrayed by Western backers as an "achievable goal" now "sounds like a plan". Legal concerns, among others, have complicated recoveries.</p>

<h2>CREDITOR DISCUSSIONS</h2>

<p>Since Moscow's February 2022 invasion, most of Ukraine's bilateral lenders have suspended repayment obligations until 2027, and the country has agreed a two-year freeze on $20 billion of international bonds that runs through August.</p>

<p>Ukraine has been sounding out major investors over plans to restructure the international debt and the possibility of raising fresh financing, Reuters reported on Oct. 9, citing people with knowledge of the discussions.</p>

<p>"We have some time to prepare discussions with private creditors," Marchenko said, declining to provide a timeframe on when formal talks with creditors may start.</p>

<p>"Our natural desire is to preserve access to the market," he added.</p>

<p>Marchenko said credit enhancement notes could be "one of the ways" to raise funds, but that how such guarantees would work depends on the future of Ukraine's growth, among other economic factors. This has not been a topic of discussion at the meetings in Marrakech, he said.</p>

<p>Ukraine's economy is set to grow 5% in 2024, Marchenko told the meetings earlier this week, and sufficient gas storage for the winter should buttress the economy from a potential rise in prices, he told Reuters.</p>

<div class="ui-state-default" contenteditable="false">
<div class="twitter-block" draggable="false">
<p><strong>WATCH WION LIVE HERE</strong></p>

<p><iframe allow="accelerometer; autoplay; encrypted-media; gyroscope; picture-in-picture" allowfullscreen="" frameborder="0" height="350" loading="”lazy”" src="https://www.wionews.com/live-tv/embed?autoplay=1&amp;mute=1" width="100%"></iframe></p>

<p>You can <strong>now write for wionews.com</strong> and be a part of the community. Share your stories and opinions with us <strong><a href="https://www.wionews.com/content-contribution-registration-form">here</a>.</strong></p>
</div>
<a class="close-mark close-div" href="#" id="jqclosemark">×</a></div>

<p>&nbsp;</p>


Ukraine is finding it harder to secure financial support as the attention of officials in key donor countries shifts to upcoming elections and geopolitical tensions heighten, Finance Minister Serhiy Marchenko told Reuters on Saturday.

Ukraine is finding it harder to secure financial support as the attention of officials in key donor countries shifts to upcoming elections and geopolitical tensions heighten, Finance Minister Serhiy Marchenko told Reuters on Saturday. "I see a lot of tiredness, I see a lot of weakness among our partners, they would like to forget about the war but the war is still ongoing, full-scale," Marchenko said on the sidelines of the International Monetary Fund (IMF) and World Bank meetings in Marrakech. He said Ukraine is making "twice the effort right now to convince our partners to provide us with support compared to the last annual meetings" in April. Also Read | 'Butcher of Khan yunis' Yahya Sinwar is our Osama bin Laden: Israel As the war with Russia rages on, Ukraine needs to secure Western financial support to cover a $43 billion budget gap in 2024. Talks this week have been overshadowed by the conflict between Israel and Hamas, which broke out just as delegates were making their way to Marrakech. Marchenko said "a geopolitical shift and internal political context in different countries" was dampening governments' appetite to support Ukraine, mentioning elections scheduled in the U.S. and the European Union next year. Ukraine has earmarked additional tax receipts and funds to be raised from internal debt, but it will be dependent on outside help for the bulk of next year's spending requirements. Also Read | Pizzeria in West Bank demolished over controversial Holocaust survivor ad "We already have some commitments, like $5.4 billion from the IMF programme, and we expect commitments from Japan and United Kingdom, and of course, we rely on our key partners and allies the United States and European Union," Marchenko said in the interview. The EU is working on a 50 billion-euro ($52.6 billion)Ukraine package for 2024 through 2027. Marchenko said Ukraine is seeking 18 billion euros of that in 2024, matching the package received for this year. Watch | Israel-Hamas war: US to move second aircraft carrier to Mediterranean × Marchenko welcomed the efforts to harness frozen Russian state assets, saying that what was previously portrayed by Western backers as an "achievable goal" now "sounds like a plan". Legal concerns, among others, have complicated recoveries. CREDITOR DISCUSSIONS Since Moscow's February 2022 invasion, most of Ukraine's bilateral lenders have suspended repayment obligations until 2027, and the country has agreed a two-year freeze on $20 billion of international bonds that runs through August. Ukraine has been sounding out major investors over plans to restructure the international debt and the possibility of raising fresh financing, Reuters reported on Oct. 9, citing people with knowledge of the discussions. "We have some time to prepare discussions with private creditors," Marchenko said, declining to provide a timeframe on when formal talks with creditors may start. "Our natural desire is to preserve access to the market," he added. Marchenko said credit enhancement notes could be "one of the ways" to raise funds, but that how such guarantees would work depends on the future of Ukraine's growth, among other economic factors. This has not been a topic of discussion at the meetings in Marrakech, he said. Ukraine's economy is set to grow 5% in 2024, Marchenko told the meetings earlier this week, and sufficient gas storage for the winter should buttress the economy from a potential rise in prices, he told Reuters. WATCH WION LIVE HERE You can now write for wionews.com and be a part of the community. Share your stories and opinions with us here. ×

Ukraine left in cold? Finance min says donor nations' 'tiredness' growing amid elections, geopolitical shift

<p>Pakistan's former finance minister and a close associate of the arrested former Prime Minister Imran Khan has been taken into custody on Sunday under the Official Secrets Act, according to multiple reports. This development follows the recent arrest on Saturday of Shah Mehmood Qureshi, Pakistan's former foreign minister, also under the Official Secrets Act of 1923. The case against Qureshi is related to a diplomatic cipher saga.</p>

<h2><strong>Arrest of activist Imaan Mazari</strong></h2>

<p>In a separate incident, Imaan Mazari, the daughter of Pakistan's former Minister of Human Rights, Shireen Mazari, was also arrested from her residence on Sunday for alleged involvement in state affairs. The arrest was made by the police on charges of interference in state matters, staging a sit-in, and resistance, reports said.&nbsp;</p>

<h2><strong>Allegations of abduction&nbsp;</strong></h2>

<p>Shireen Mazari, Imaan's mother, who had left the PTI party after being detained following riots on May 9, described her daughter's arrest as an "abduction."</p>

<p>Also Read | <a href="https://www.wionews.com/world/death-toll-in-dominican-republic-explosion-rises-to-32-officials-blame-plastics-company-627107">Death toll in Dominican Republic explosion rises to 32; officials blame plastics company</a></p>

<p>The former minister asserted that plainclothes individuals forcibly took her daughter away, without presenting warrants or following legal procedures. Imaan Mazari has previously faced legal trouble for using offensive language against the former Army Chief, General (retd.) Qamar Javed Bajwa.</p>

<h2><strong>Pakistan's political turmoil</strong></h2>

<p>Shireen Mazari had announced her resignation and withdrawal from active politics after being released from jail.</p>

<p>Also Read | <a href="https://www.wionews.com/world/why-should-i-participate-trump-chooses-tucker-carlson-over-republican-presidential-debate-report-627094">'Why should I participate': Trump chooses Tucker Carlson over Republican primary debate, says report</a></p>

<p>“Taking away our security cameras and her laptop and cell. We asked who they had come for and they just dragged Imaan out. They marched all over the house. My daughter was in her night clothes and said let me change but they just dragged her away. Of course no warrants or any legal procedure. State fascism. Remember we are only 2 women living in the house. Thus is an abduction,” Shireen said on platform X (formerly Twitter).</p>

<p><strong>Watch | Canada’s British Columbia under state of emergency as Kelowna wildfire rages</strong></p>

<div class="ui-state-default" contenteditable="false">
<div class="twitter-block" draggable="false">
<div class="videoWrapper trancodeVideo"><iframe allowfullscreen="" autoplay="1" class="includeVideo" frameborder="0" height="350" src="https://www.wionews.com/videos/canadas-british-columbia-under-state-of-emergency-as-kelowna-wildfire-rages-627112/embed" style="width:100%;max-width:560px;" width="560"></iframe></div>
</div>
<a class="close-mark close-div" href="#" id="jqclosemark">×</a></div>

<p>The PTI's supporters had engaged in attacks on both civilian and military installations across Pakistan, following Imran Khan's initial arrest in a corruption case on May 9. The resulting violence, referred to as the "Black Day," led to internal turmoil within the PTI, prompting numerous party members to resign in order to avoid legal consequences for their roles in the attacks.</p>

<div class="ui-state-default" contenteditable="false">
<div class="twitter-block" draggable="false">
<p><strong>WATCH WION LIVE HERE</strong></p>

<p><iframe allow="accelerometer; autoplay; encrypted-media; gyroscope; picture-in-picture" allowfullscreen="" frameborder="0" height="350" loading="”lazy”" src="https://www.wionews.com/live-tv/embed?autoplay=1&amp;mute=1" width="100%"></iframe></p>

<p>You can <strong>now write for wionews.com</strong> and be a part of the community. Share your stories and opinions with us <strong><a href="https://www.wionews.com/content-contribution-registration-form">here</a>.</strong></p>
</div>
<a class="close-mark close-div" href="#" id="jqclosemark">×</a></div>

<p>&nbsp;</p>


Pakistan's former finance minister and a close associate of the arrested former Prime Minister Imran Khan has been taken into custody on Sunday under the Official Secrets Act, according to multiple reports.

Pakistan's former finance minister and a close associate of the arrested former Prime Minister Imran Khan has been taken into custody on Sunday under the Official Secrets Act, according to multiple reports. This development follows the recent arrest on Saturday of Shah Mehmood Qureshi, Pakistan's former foreign minister, also under the Official Secrets Act of 1923. The case against Qureshi is related to a diplomatic cipher saga. Arrest of activist Imaan Mazari In a separate incident, Imaan Mazari, the daughter of Pakistan's former Minister of Human Rights, Shireen Mazari, was also arrested from her residence on Sunday for alleged involvement in state affairs. The arrest was made by the police on charges of interference in state matters, staging a sit-in, and resistance, reports said. Allegations of abduction Shireen Mazari, Imaan's mother, who had left the PTI party after being detained following riots on May 9, described her daughter's arrest as an "abduction." Also Read | Death toll in Dominican Republic explosion rises to 32; officials blame plastics company The former minister asserted that plainclothes individuals forcibly took her daughter away, without presenting warrants or following legal procedures. Imaan Mazari has previously faced legal trouble for using offensive language against the former Army Chief, General (retd.) Qamar Javed Bajwa. Pakistan's political turmoil Shireen Mazari had announced her resignation and withdrawal from active politics after being released from jail. Also Read | 'Why should I participate': Trump chooses Tucker Carlson over Republican primary debate, says report “Taking away our security cameras and her laptop and cell. We asked who they had come for and they just dragged Imaan out. They marched all over the house. My daughter was in her night clothes and said let me change but they just dragged her away. Of course no warrants or any legal procedure. State fascism. Remember we are only 2 women living in the house. Thus is an abduction,” Shireen said on platform X (formerly Twitter). Watch | Canada’s British Columbia under state of emergency as Kelowna wildfire rages × The PTI's supporters had engaged in attacks on both civilian and military installations across Pakistan, following Imran Khan's initial arrest in a corruption case on May 9. The resulting violence, referred to as the "Black Day," led to internal turmoil within the PTI, prompting numerous party members to resign in order to avoid legal consequences for their roles in the attacks. WATCH WION LIVE HERE You can now write for wionews.com and be a part of the community. Share your stories and opinions with us here. ×

Imran's close aide and Pak's former finance minister, Asad Umar, arrested under Official Secrets Act

<p>Pakistan has decided to appoint Shamshad Akhtar as the finance minister for the present government, ensuring the country’s commitments to the International Monetary Fund (IMF) for its key bailout program, Bloomberg reported citing two sources familiar with the matter. &nbsp;</p>

<p>The offer, made by interim Prime Minister Anwaar-ul-Haq Kakar was accepted.</p>

<p>This week, at the end of the five-year term of the legislature and just weeks after securing a $3 billion loan package with the IMF to prevent a default, former prime minister Shehbaz Sharif turned over authority to Kakar. The new premier, whose main responsibility will be to supervise the national elections scheduled for November, promised to maintain economic policies while serving in an interim capacity.&nbsp;</p>

<p>Political parties want to base the elections on the most recent population census, which will take an additional three months to be completed. As a result, the polls are expected to be postponed.&nbsp;</p>

<p>In 2018, Akhtar, who oversaw the central bank from 2006 to 2009, briefly filled the position of the finance minister. She now serves as chairperson of Pakistan Stock Exchange Ltd. She has also held positions in the Asian Development Bank, the World Bank, and the United Nations.&nbsp;</p>

<p>(With inputs from agencies)&nbsp;</p>

<p><strong>WATCH WION LIVE HERE</strong></p>

<p><iframe allow="accelerometer; autoplay; encrypted-media; gyroscope; picture-in-picture" allowfullscreen="" frameborder="0" height="350" src="https://www.wionews.com/live-tv/embed?autoplay=1&amp;mute=1" width="100%"></iframe></p>


Pakistan has decided to appoint Shamshad Akhtar as the finance minister for the present government, ensuring the country’s commitments to the International Monetary Fund (IMF) for its key bailout program, Bloomberg reported citing two sources familiar with the matter.

Pakistan has decided to appoint Shamshad Akhtar as the finance minister for the present government, ensuring the country’s commitments to the International Monetary Fund (IMF) for its key bailout program, Bloomberg reported citing two sources familiar with the matter. The offer, made by interim Prime Minister Anwaar-ul-Haq Kakar was accepted. This week, at the end of the five-year term of the legislature and just weeks after securing a $3 billion loan package with the IMF to prevent a default, former prime minister Shehbaz Sharif turned over authority to Kakar. The new premier, whose main responsibility will be to supervise the national elections scheduled for November, promised to maintain economic policies while serving in an interim capacity. Political parties want to base the elections on the most recent population census, which will take an additional three months to be completed. As a result, the polls are expected to be postponed. In 2018, Akhtar, who oversaw the central bank from 2006 to 2009, briefly filled the position of the finance minister. She now serves as chairperson of Pakistan Stock Exchange Ltd. She has also held positions in the Asian Development Bank, the World Bank, and the United Nations. (With inputs from agencies) WATCH WION LIVE HERE

Pakistan to choose ex-central banker as finance minister 

The finance ministers of nations including India, Indonesia, Canada, and the US recently discussed pressing global economic issues facing our planet, such as the threat posed by climate change and rising debt. Women are managing some of the biggest economies in the world.

Finance Ministers of India, Indonesia and Canada stand hand in hand

Former US President Barack Obama has come under fire from India's Union Finance Minister Nirmala Sitharaman for his comments regarding the protection of Muslims in India. This occurs as Indian Prime Minister Narendra Modi makes his way back to New Delhi following his trip to Egypt and the United States of America.

India: Finance Minister hits back at Obama for his remarks on Indian Muslims

<p>Indian Union Finance Minister Nirmala Sitharaman on Sunday responded strongly over former US President Barack Obama's remarks about the rights of Indian Muslims. Sitharaman, during a press conference held at the party headquarters in New Delhi, expressed her disagreement with Obama's comments and pointed out military actions in Muslim-majority nations during his presidency.&nbsp;The minister criticised Obama's controversial interview with a media outlet, in which he stated his intention to discuss the situation of Indian Muslims with Prime Minister Narendra Modi. The finance minister said, "I was shocked. When PM Modi was campaigning in the US - and by campaigning I mean speaking about India - a former president of the US is speaking about Indian Muslims."</p>

<p>"And I am saying this with restraint because it involves another country. We want friendship with the US but there too we get remarks about religious freedom in India. A former president - under whose rule seven Muslim-majority countries were bombed with more than 26,000 bombs - how will people trust his allegations?" she added.&nbsp;</p>

<p>Also Read | <a href="https://www.wionews.com/science/bamboo-could-be-a-game-changer-in-renewable-energy-heres-how-608532">Bamboo could be a game changer in renewable energy. Here's how</a></p>

<p>"I find this deliberate attempt to vitiate the atmosphere in this country because they think they cannot win against the developmental policies of Prime Minister Narendra Modi," the minister claimed.&nbsp;</p>

<p>During the news conference, Sitharaman highlighted Prime Minister Modi's commitment to the "Sabka Saath, Sabka Vikas" (Together with All, Development for All) principle and stated that his government does not discriminate against any community.&nbsp;</p>

<p>Sitharaman also criticised the Congress and other opposition parties for raising unsubstantiated issues after facing electoral defeats.&nbsp;</p>

<h2><strong>The debate on human rights&nbsp;</strong></h2>

<p>The United States has a history of intervening in the affairs of other countries often and the country itself has faced scrutiny. It has often received a befitting reply from India that the United States should focus on addressing its own human rights challenges before attempting to instruct or impose its views on other nations.</p>

<p>Also Read | <a href="https://www.wionews.com/trending/porn-platform-owner-society-proud-of-sexual-expression-adult-content-to-become-boring-608500">Porn platform owner: Society proud of sexual expression, adult content to become 'boring'</a></p>

<p>On 22 June, former US president Barack Obama expressed his concerns about India, suggesting that the country risks "pulling apart" if the rights of its Muslim minority are not respected. He specifically mentioned the need to address this matter with Prime Minister Narendra Modi, who was on a visit to the United States at the time.</p>

<p>Obama spoke of his willingness to discuss with PM Modi the concerns surrounding the protection of the rights of ethnic minorities in India if given the opportunity.&nbsp;</p>

<p><strong>Watch | PM Modi conferred with Egypt's highest state honour in Cairo</strong></p>

<div class="ui-state-default" contenteditable="false">
<div class="twitter-block" draggable="false">
<div class="videoWrapper trancodeVideo"><iframe allowfullscreen="" autoplay="1" class="includeVideo" frameborder="0" height="350" src="https://www.wionews.com/videos/pm-modi-conferred-with-egypts-highest-state-honour-in-cairo-608484/embed" style="width:100%;max-width:560px;" width="560"></iframe></div>
</div>
<a class="close-mark close-div" href="#" id="jqclosemark">×</a></div>

<p>PM Modi was questioned in a presser about free speech and religious freedom in India. The US reporter also asked the prime minister about discrimination against minority communities and the measures his government was taking to improve the rights of minorities in the country.</p>

<p>"We are a democracy...India &amp; America both have democracy in our DNA. Democracy is in our spirit &amp; we live it and it's written in our Constitution...So no question of discrimination on the grounds of caste, creed or religion arises. That is why, India believes in sabka saath, sabka vikas, sabka vishwas, sabka prayaas and walks ahead with it..," PM Modi said.&nbsp;</p>

<div class="ui-state-default" contenteditable="false">
<div class="twitter-block" draggable="false">
<p><strong>WATCH WION LIVE HERE</strong></p>

<p><iframe allow="accelerometer; autoplay; encrypted-media; gyroscope; picture-in-picture" allowfullscreen="" frameborder="0" height="350" loading="”lazy”" src="https://www.wionews.com/live-tv/embed?autoplay=1&amp;mute=1  width=&quot;100%&quot;"></iframe></p>

<p>You can <strong>now write for wionews.com</strong> and be a part of the community. Share your stories and opinions with us <strong><a href="https://www.wionews.com/content-contribution-registration-form">here</a>.</strong></p>
</div>
<a class="close-mark close-div" href="#" id="jqclosemark">×</a></div>

<p>&nbsp;</p>


Indian Union Finance Minister Nirmala Sitharaman on Sunday responded strongly over former US President Barack Obama's remarks about the rights of Indian Muslims.

Indian Union Finance Minister Nirmala Sitharaman on Sunday responded strongly over former US President Barack Obama's remarks about the rights of Indian Muslims. Sitharaman, during a press conference held at the party headquarters in New Delhi, expressed her disagreement with Obama's comments and pointed out military actions in Muslim-majority nations during his presidency. The minister criticised Obama's controversial interview with a media outlet, in which he stated his intention to discuss the situation of Indian Muslims with Prime Minister Narendra Modi. The finance minister said, "I was shocked. When PM Modi was campaigning in the US - and by campaigning I mean speaking about India - a former president of the US is speaking about Indian Muslims." "And I am saying this with restraint because it involves another country. We want friendship with the US but there too we get remarks about religious freedom in India. A former president - under whose rule seven Muslim-majority countries were bombed with more than 26,000 bombs - how will people trust his allegations?" she added. Also Read | Bamboo could be a game changer in renewable energy. Here's how "I find this deliberate attempt to vitiate the atmosphere in this country because they think they cannot win against the developmental policies of Prime Minister Narendra Modi," the minister claimed. During the news conference, Sitharaman highlighted Prime Minister Modi's commitment to the "Sabka Saath, Sabka Vikas" (Together with All, Development for All) principle and stated that his government does not discriminate against any community. Sitharaman also criticised the Congress and other opposition parties for raising unsubstantiated issues after facing electoral defeats. The debate on human rights The United States has a history of intervening in the affairs of other countries often and the country itself has faced scrutiny. It has often received a befitting reply from India that the United States should focus on addressing its own human rights challenges before attempting to instruct or impose its views on other nations. Also Read | Porn platform owner: Society proud of sexual expression, adult content to become 'boring' On 22 June, former US president Barack Obama expressed his concerns about India, suggesting that the country risks "pulling apart" if the rights of its Muslim minority are not respected. He specifically mentioned the need to address this matter with Prime Minister Narendra Modi, who was on a visit to the United States at the time. Obama spoke of his willingness to discuss with PM Modi the concerns surrounding the protection of the rights of ethnic minorities in India if given the opportunity. Watch | PM Modi conferred with Egypt's highest state honour in Cairo × PM Modi was questioned in a presser about free speech and religious freedom in India. The US reporter also asked the prime minister about discrimination against minority communities and the measures his government was taking to improve the rights of minorities in the country. "We are a democracy...India & America both have democracy in our DNA. Democracy is in our spirit & we live it and it's written in our Constitution...So no question of discrimination on the grounds of caste, creed or religion arises. That is why, India believes in sabka saath, sabka vikas, sabka vishwas, sabka prayaas and walks ahead with it..," PM Modi said. WATCH WION LIVE HERE You can now write for wionews.com and be a part of the community. Share your stories and opinions with us here. ×

'Bombed 7 Muslim-majority countries': Finance minister Sitharaman hits back at Barack Obama

Here we bring you a quick round-up of all the latest news and top headlines from all across the globe: Indian Union Finance Minister Nirmala Sitharaman on Sunday responded strongly over former US President Barack Obama's remarks about the rights of Indian Muslims.

Indian Finance Minister takes on Barack Obama

<p>India's Finance Minister&nbsp;Nirmala Sitharaman is scheduled to attend the upcoming summit on a New Global Financing Pact which will be hosted by France in Paris later this month. This summit, organised at the invitation of President Macron, aims to bring together leaders from around the world to discuss and establish a fairer and more solidarity-based financial system.</p>

<p>The event will witness participation from&nbsp;heads of state and governments, leaders of major international organisations, representatives of global financial institutions, and delegates from the private sector and civil society. Together, they will focus on addressing shared global challenges such as poverty, climate change, and the protection of diversity.</p>

<p><strong>ALSO READ |</strong>&nbsp;<a href="https://www.wionews.com/india-news/muslims-in-india-finance-minister-slams-negative-western-perception-581184">Nirmala Sitharaman gives befitting reply on negative Western 'perception' of Muslims in India</a></p>

<p>The summit, to be held at the historic Palais Brongniart, holds significant importance in light of other major international meetings scheduled later in the year. These include the G20 summit under the Indian Presidency, the World Bank and IMF Annual Meetings in Marrakech, the UN Secretary-General's summit in New York on &nbsp;Sustainable Development Goals, and the UN Climate Change Conference (COP28) in Dubai.</p>

<p>The French statement regarding the summit emphasises its objective of fostering future reforms and establishing a more balanced financial partnership between the Global South and North. By promoting inclusivity and cooperation, the summit aims to create a financial system that better serves the needs of all nations, particularly those in the developing world.</p>

<p><strong>WATCH |&nbsp;Indian Finance Minister Nirmala Sitharaman STRONGLY CONDEMNS the Western perception of India</strong></p>

<div class="videoWrapper trancodeVideo"><iframe allowfullscreen="" autoplay="1" class="includeVideo" frameborder="0" height="350" src="https://www.wionews.com/videos/indian-finance-minister-nirmala-sitharaman-strongly-condems-the-western-perception-of-india-581266/embed" style="width:100%;max-width:560px;" width="560"></iframe></div>

<p>The presence of Finance Minister Sitharaman at the summit highlights India's commitment to addressing global economic issues and finding sustainable solutions. As one of the world's largest economies and a nation with a significant stake in global development, India's participation will undoubtedly be expected to contribute to the discussions and shape the outcomes of the summit.</p>

<p>You can&nbsp;<strong>now write for&nbsp;wionews.com</strong>&nbsp;and be a part of the community. Share your stories and opinions with us&nbsp;<strong><a href="https://www.wionews.com/content-contribution-registration-form">here</a>.</strong></p>

<p><strong>WATCH WION LIVE HERE</strong></p>

<p><iframe allow="accelerometer; autoplay; encrypted-media; gyroscope; picture-in-picture" allowfullscreen="" frameborder="0" height="350" src="https://www.wionews.com/live-tv/embed?autoplay=1&amp;mute=1" width="100%"></iframe></p>


India's Finance Minister Nirmala Sitharaman is scheduled to attend the upcoming summit on a New Global Financing Pact which will be hosted by France in Paris later this month.

India's Finance Minister Nirmala Sitharaman is scheduled to attend the upcoming summit on a New Global Financing Pact which will be hosted by France in Paris later this month. This summit, organised at the invitation of President Macron, aims to bring together leaders from around the world to discuss and establish a fairer and more solidarity-based financial system. The event will witness participation from heads of state and governments, leaders of major international organisations, representatives of global financial institutions, and delegates from the private sector and civil society. Together, they will focus on addressing shared global challenges such as poverty, climate change, and the protection of diversity. ALSO READ | Nirmala Sitharaman gives befitting reply on negative Western 'perception' of Muslims in India The summit, to be held at the historic Palais Brongniart, holds significant importance in light of other major international meetings scheduled later in the year. These include the G20 summit under the Indian Presidency, the World Bank and IMF Annual Meetings in Marrakech, the UN Secretary-General's summit in New York on Sustainable Development Goals, and the UN Climate Change Conference (COP28) in Dubai. The French statement regarding the summit emphasises its objective of fostering future reforms and establishing a more balanced financial partnership between the Global South and North. By promoting inclusivity and cooperation, the summit aims to create a financial system that better serves the needs of all nations, particularly those in the developing world. WATCH | Indian Finance Minister Nirmala Sitharaman STRONGLY CONDEMNS the Western perception of India The presence of Finance Minister Sitharaman at the summit highlights India's commitment to addressing global economic issues and finding sustainable solutions. As one of the world's largest economies and a nation with a significant stake in global development, India's participation will undoubtedly be expected to contribute to the discussions and shape the outcomes of the summit. You can now write for wionews.com and be a part of the community. Share your stories and opinions with us here. WATCH WION LIVE HERE

Indian Finance Minister Sitharaman to attend France's summit on Global Financing Pact

<p>India is eyeing to present itself as an alternative to China in the global supply chains, according to Union Finance Minister Nirmala Sitharaman. Speaking at the Peterson Institute for International Economics, USA, Sitharaman said India was planning to take on China through the Production Linked Incentive (PLI) scheme and the growth of its domestic consumer market.&nbsp;</p>

<p>The PLI scheme has been one of the brightest working ideas to have come out of the NDA administration in India. Sitharaman pointed out that the scheme covers 13 manufacturing sectors, including semiconductors, which are bringing global value chains into India.</p>

<p>"By doing that, we hope to have production of many of these large, bulk-manufactured goods which can go from India to meet both international and local demand," said Sitharaman.&nbsp;</p>

<p><strong><a href="https://www.wionews.com/videos/indian-finance-minister-nirmala-sitharaman-strongly-condems-the-western-perception-of-india-581266">WATCH |&nbsp;Indian Finance Minister Nirmala Sitharaman STRONGLY CONDEMNS the Western perception of India</a></strong></p>

<div class="ui-state-default" contenteditable="false">
<div class="twitter-block" draggable="false">
<div class="videoWrapper trancodeVideo"><iframe allowfullscreen="" autoplay="1" class="includeVideo" frameborder="0" height="350" src="https://www.wionews.com/videos/indian-finance-minister-nirmala-sitharaman-strongly-condems-the-western-perception-of-india-581266/embed" style="width:100%;max-width:560px;" width="560"></iframe></div>
</div>
<a class="close-mark close-div" href="#" id="jqclosemark">×</a></div>

<h2><strong>Smartphone exports from India</strong></h2>

<p>The finance minister cited the example of how mobile-phone manufacturing in India in 2014 (the year when the Narendra Modi government came to power) stood at abysmally lower levels. However, through the clever use of the PLI scheme, India has grown to become one of the world's biggest exporters of smartphones.&nbsp;</p>

<p>Notably, the data showed that India's mobile phone exports crossed $2 billion in the first two months of 2023 alone. The numbers were driven mainly by Apple and Samsung — the two smartphone giants. Cumulatively, the total smartphone export stood at over $9 billion since April last year.&nbsp;</p>

<p>India’s mobile phone exports crossed $2 billion (over Rs 16,500 crore) in the first two months of 2023, driven mainly by Apple and Samsung, taking the total export value to over $9 billion since April 2022.&nbsp;</p>

<p>Apart from smartphones, the PLI scheme has been launched for pharmaceutical, automobile,&nbsp;textile, food products, solar modules,&nbsp;telecom and networking products, advanced chemistry cell batteries, white goods, and speciality steel amongst others.&nbsp;</p>

<p>Sitharaman is currently&nbsp;on a weeklong trip to the US to attend International Monetary Fund and World Bank's spring meetings. She alongside India's central bank governor&nbsp; Shaktikanta&nbsp;Das will co-chair the second G20 Finance Ministers and Central Bank Governors (FMCBG) meeting on Wednesday and Thursday.&nbsp;</p>

<p><a href="https://www.wionews.com/india-news/indian-fm-nirmala-sitharaman-arrives-in-us-for-week-long-visit-will-attend-spring-meetings-of-world-bank-imf-581040"><strong>ALSO READ |&nbsp;Indian FM Nirmala Sitharaman arrives in US for week-long visit; will attend Spring Meetings of World Bank, IMF</strong></a></p>

<p>The earlier&nbsp;FMCBG meeting was held in the southern Indian city of Bengaluru in February and centred around the Russia-Ukraine conflict.</p>

<p>Reflecting on the meeting, Sitharaman said, “It&nbsp;is a great opportunity for India to prove and to work towards bringing all countries together on substantive issues.”</p>

<p><em>(With inputs from agencies)</em><br />
<br />
&nbsp;</p>

<p><strong>WATCH WION LIVE HERE:&nbsp;</strong></p>

<p><iframe allow="accelerometer; autoplay; encrypted-media; gyroscope; picture-in-picture" allowfullscreen="" frameborder="0" height="350" loading="”lazy”" src="https://www.wionews.com/live-tv/embed?autoplay=1&amp;mute=1" width="100%"></iframe></p>


India is eyeing to present itself as an alternative to China in the global supply chains, according to Union Finance Minister Nirmala Sitharaman. Speaking at the Peterson Institute for International Economics, USA, Sitharaman said India was planning to take on China through the Production Linked Incentive (PLI) scheme and the growth of its domestic consumer market.

India is eyeing to present itself as an alternative to China in the global supply chains, according to Union Finance Minister Nirmala Sitharaman. Speaking at the Peterson Institute for International Economics, USA, Sitharaman said India was planning to take on China through the Production Linked Incentive (PLI) scheme and the growth of its domestic consumer market. The PLI scheme has been one of the brightest working ideas to have come out of the NDA administration in India. Sitharaman pointed out that the scheme covers 13 manufacturing sectors, including semiconductors, which are bringing global value chains into India. "By doing that, we hope to have production of many of these large, bulk-manufactured goods which can go from India to meet both international and local demand," said Sitharaman. WATCH | Indian Finance Minister Nirmala Sitharaman STRONGLY CONDEMNS the Western perception of India × Smartphone exports from India The finance minister cited the example of how mobile-phone manufacturing in India in 2014 (the year when the Narendra Modi government came to power) stood at abysmally lower levels. However, through the clever use of the PLI scheme, India has grown to become one of the world's biggest exporters of smartphones. Notably, the data showed that India's mobile phone exports crossed $2 billion in the first two months of 2023 alone. The numbers were driven mainly by Apple and Samsung — the two smartphone giants. Cumulatively, the total smartphone export stood at over $9 billion since April last year. India’s mobile phone exports crossed $2 billion (over Rs 16,500 crore) in the first two months of 2023, driven mainly by Apple and Samsung, taking the total export value to over $9 billion since April 2022. Apart from smartphones, the PLI scheme has been launched for pharmaceutical, automobile, textile, food products, solar modules, telecom and networking products, advanced chemistry cell batteries, white goods, and speciality steel amongst others. Sitharaman is currently on a weeklong trip to the US to attend International Monetary Fund and World Bank's spring meetings. She alongside India's central bank governor Shaktikanta Das will co-chair the second G20 Finance Ministers and Central Bank Governors (FMCBG) meeting on Wednesday and Thursday. ALSO READ | Indian FM Nirmala Sitharaman arrives in US for week-long visit; will attend Spring Meetings of World Bank, IMF The earlier FMCBG meeting was held in the southern Indian city of Bengaluru in February and centred around the Russia-Ukraine conflict. Reflecting on the meeting, Sitharaman said, “It is a great opportunity for India to prove and to work towards bringing all countries together on substantive issues.” (With inputs from agencies) WATCH WION LIVE HERE:

India aims to take China’s place in global supply chain through PLI scheme: FM Nirmala Sitharaman

Nirmala Sitharaman, the Indian Finance Minister, is in the United States for a week. During her stay, she plans to attend a number of meetings at the World Bank, the IMF, and other institutions.

Indian Finance Minister Nirmala Sitharaman to meet G20 FM's today in US

<p>Kuwait's Prime Minister Sheikh Ahmad Nawaf al-Sabah has appointed a new finance minister as part of a cabinet reshuffle that left other major roles unchanged, state news agency KUNA reported on Sunday.</p>

<p>The crown prince in March reappointed Sheikh Ahmad as prime minister, more than a month after the government resigned in response to friction with an opposition-controlled parliament.</p>

<p>Of the main portfolios, Manaf Abdulaziz Al Hajri was made minister for finance and minister of state for economic and investment affairs, while Bader Al Mulla, the incumbent oil minister, stays on in the role.</p>

<p>"The biggest challenge for the government is to regain the trust of the people," said Ahmad al-Din, member of the political bureau of the Kuwaiti Progressive Movement (left).</p>

<p>"The removal of Abd al-Wahhab al-Rasheed (former finance minister), who was an element of tension with the 2022 parliament, indicates that the current government is betting on the return of the 2022 parliament," he added.</p>

<p><a href="https://www.wionews.com/videos/kuwaits-national-assembly-women-candidates-make-a-comeback-521620"><strong>WATCH |&nbsp;Kuwait's national assembly: Women candidates make a comeback</strong></a></p>

<div class="ui-state-default" contenteditable="false">
<div class="twitter-block" draggable="false">
<div class="videoWrapper trancodeVideo"><iframe allowfullscreen="" autoplay="1" class="includeVideo" frameborder="0" height="350" src="https://www.wionews.com/videos/kuwaits-national-assembly-women-candidates-make-a-comeback-521620/embed" style="width:100%;max-width:560px;" width="560"></iframe></div>
</div>
<a class="close-mark close-div" href="#" id="jqclosemark">×</a></div>

<p>Kuwait holds some of the world's largest oil reserves and has strong fiscal and external balance sheets, but political bickering and institutional gridlock have hampered investment and reforms aimed at reducing its heavy reliance on oil revenues.</p>

<p>Relations have been particularly tense between the prime minister and the speaker of the National Assembly, elected in 2020, since the Constitutional Court in March annulled last September's election results.</p>

<p>Finance Minister Al Hajri was CEO of asset management and banking institution Kuwait Financial Center for 16 years before resigning in 2020 and is well-known in business and finance circles in Kuwait.</p>

<p>Sheikh Talal Al-Khaled Al-Sabah was re-appointed as minister of interior and acting minister of defence, and Sheikh Salem Abdullah Al-Jaber Al-Sabah remains the foreign minister.</p>

<p><strong>WATCH WION LIVE HERE:&nbsp;</strong></p>

<p><iframe allow="accelerometer; autoplay; encrypted-media; gyroscope; picture-in-picture" allowfullscreen="" frameborder="0" height="350" loading="”lazy”" src="https://www.wionews.com/live-tv/embed?autoplay=1&amp;mute=1" width="100%"></iframe></p>


Kuwait's Prime Minister Sheikh Ahmad Nawaf al-Sabah has appointed a new finance minister as part of a cabinet reshuffle that left other major roles unchanged, state news agency KUNA reported on Sunday.

Kuwait's Prime Minister Sheikh Ahmad Nawaf al-Sabah has appointed a new finance minister as part of a cabinet reshuffle that left other major roles unchanged, state news agency KUNA reported on Sunday. The crown prince in March reappointed Sheikh Ahmad as prime minister, more than a month after the government resigned in response to friction with an opposition-controlled parliament. Of the main portfolios, Manaf Abdulaziz Al Hajri was made minister for finance and minister of state for economic and investment affairs, while Bader Al Mulla, the incumbent oil minister, stays on in the role. "The biggest challenge for the government is to regain the trust of the people," said Ahmad al-Din, member of the political bureau of the Kuwaiti Progressive Movement (left). "The removal of Abd al-Wahhab al-Rasheed (former finance minister), who was an element of tension with the 2022 parliament, indicates that the current government is betting on the return of the 2022 parliament," he added. WATCH | Kuwait's national assembly: Women candidates make a comeback × Kuwait holds some of the world's largest oil reserves and has strong fiscal and external balance sheets, but political bickering and institutional gridlock have hampered investment and reforms aimed at reducing its heavy reliance on oil revenues. Relations have been particularly tense between the prime minister and the speaker of the National Assembly, elected in 2020, since the Constitutional Court in March annulled last September's election results. Finance Minister Al Hajri was CEO of asset management and banking institution Kuwait Financial Center for 16 years before resigning in 2020 and is well-known in business and finance circles in Kuwait. Sheikh Talal Al-Khaled Al-Sabah was re-appointed as minister of interior and acting minister of defence, and Sheikh Salem Abdullah Al-Jaber Al-Sabah remains the foreign minister. WATCH WION LIVE HERE:

Kuwait cabinet reshuffle: PM Sheikh Ahmad appoints new finance minister

<p>Qatar’s former finance minister Ali Sherif al-Emadi will face a criminal trial, said the state-run Qatar News Agency (QNA) in a short statement issued on Sunday (March 19), following his arrest two years ago over alleged embezzlement. Al-Emadi who served as the minister of finance in the wealthy Gulf Arab state from 2013 till his arrest in 2021 will face trial along with a number of others who have been charged with similar crimes.&nbsp;</p>

<p>The state-run news agency without mentioning the number of other people said Al-Emadi and others will face trial over charges of bribery, abuse of position and power, damage to public funds and money laundering, reported Reuters. However, it is also unclear whether all those accused will face the same charges or not.&nbsp;</p>

<p>“Since evidence extracted from the case documents proved that the accused committed the crimes ascribed to them, the Attorney General issued an order to refer the accused to the Criminal Court to punish them for the crimes ascribed to them, which included bribery, appropriation of public money, abuse of office, abuse of power, damage to public money and money laundering,” said the QNA report, as per Al Jazeera.&nbsp;</p>

<p>Notably, there are not a lot of details released about Al-Emadi’s arrest including how much money the former minister is accused of stealing. The 54-year-old who was arrested in May 2021 was stripped of his ministerial duties and&nbsp;removed from the Qatar Investment Agency which owns 50 per cent of the Qatar National Bank where he served as a board member.</p>

<p>Al-Emadi was also one of the most powerful officials in the country prior to his arrest, and was CEO of the bank, on the board of Qatar’s $300 billion sovereign wealth fund and president of the executive board of Qatar Airways. While Al-Emadi has been arrested, he has not been placed in detention, reported AFP.</p>

<p>Qatar’s Prime Minister and Foreign Minister Sheikh Mohammed bin Abdulrahman Al-Thani have previously clarified that the investigation into the former finance minister was related to his ministerial duties and not his posts at the sovereign fund or the bank, reported Reuters. Notably, ahead of Al-Emadi’s arrest the Qatari PM had also revised the law ending immunity from prosecution for ministers.</p>

<p><em>(With inputs from agencies)&nbsp;</em><br />
<br />
&nbsp;</p>

<p><strong>WATCH WION LIVE HERE</strong></p>

<p><iframe allow="accelerometer; autoplay; encrypted-media; gyroscope; picture-in-picture" allowfullscreen="" frameborder="0" height="350" loading="”lazy”" src="https://www.wionews.com/live-tv/embed?autoplay=1&amp;mute=1" width="100%"></iframe></p>

<p>You can <strong>now write for wionews.com</strong> and be a part of the community. Share your stories and opinions with us <strong><a href="https://www.wionews.com/content-contribution-registration-form">here</a>.</strong></p>


Qatar’s former finance minister Ali Sherif al-Emadi will face a criminal trial, said the state-run Qatar News Agency (QNA) in a short statement issued on Sunday (March 19), following his arrest two years ago over alleged embezzlement.

Qatar’s former finance minister Ali Sherif al-Emadi will face a criminal trial, said the state-run Qatar News Agency (QNA) in a short statement issued on Sunday (March 19), following his arrest two years ago over alleged embezzlement. Al-Emadi who served as the minister of finance in the wealthy Gulf Arab state from 2013 till his arrest in 2021 will face trial along with a number of others who have been charged with similar crimes. The state-run news agency without mentioning the number of other people said Al-Emadi and others will face trial over charges of bribery, abuse of position and power, damage to public funds and money laundering, reported Reuters. However, it is also unclear whether all those accused will face the same charges or not. “Since evidence extracted from the case documents proved that the accused committed the crimes ascribed to them, the Attorney General issued an order to refer the accused to the Criminal Court to punish them for the crimes ascribed to them, which included bribery, appropriation of public money, abuse of office, abuse of power, damage to public money and money laundering,” said the QNA report, as per Al Jazeera. Notably, there are not a lot of details released about Al-Emadi’s arrest including how much money the former minister is accused of stealing. The 54-year-old who was arrested in May 2021 was stripped of his ministerial duties and removed from the Qatar Investment Agency which owns 50 per cent of the Qatar National Bank where he served as a board member. Al-Emadi was also one of the most powerful officials in the country prior to his arrest, and was CEO of the bank, on the board of Qatar’s $300 billion sovereign wealth fund and president of the executive board of Qatar Airways. While Al-Emadi has been arrested, he has not been placed in detention, reported AFP. Qatar’s Prime Minister and Foreign Minister Sheikh Mohammed bin Abdulrahman Al-Thani have previously clarified that the investigation into the former finance minister was related to his ministerial duties and not his posts at the sovereign fund or the bank, reported Reuters. Notably, ahead of Al-Emadi’s arrest the Qatari PM had also revised the law ending immunity from prosecution for ministers. (With inputs from agencies) WATCH WION LIVE HERE You can now write for wionews.com and be a part of the community. Share your stories and opinions with us here.

Qatar: Former finance minister Ali Sherif al-Emadi charged with bribery, embezzlement; to face trial

<p>The meeting of the finance ministers for the group of 20 (G20) countries which&nbsp;had convened in the Indian city of Bengaluru ended on Saturday (February 25) without a joint statement. This comes as most G20 member nations condemned the ongoing conflict in Ukraine but China and Russia declined to sign the joint statement. This led India, which was hosting the two-day event to release a “chair’s summary and outcome document” which is said to simply summarise the talks and noted disagreements.&nbsp;</p>

<p><strong>Disagreements at the G20 meeting</strong></p>

<p>The document in question wrote, “most members strongly condemned the war in Ukraine and stressed that it is causing immense human suffering and exacerbating existing fragilities in the global economy.” This was said in the context of supply chain disruptions, risks to financial stability, as well as continuing energy and food insecurity. It also added that there were “different assessments of the situation and sanctions” referring to the ongoing conflict.&nbsp;</p>

<p>This comes as western countries have imposed thousands of sanctions against Russia&nbsp;and&nbsp;some of its citizens&nbsp;since it began what it has described as its “special military operation” in Ukraine, in a bid to starve the country of its revenues. A footnote said that the two paragraphs in the summary about the ongoing conflict “were agreed to by all member countries except Russia and China”.&nbsp;</p>

<p><strong>ALSO READ |&nbsp;<a href="https://www.wionews.com/india-news/german-chancellor-meets-pm-modi-deepening-of-india-germany-ties-in-focus-565780">India ready to contribute to any peace process for resolving Ukraine crisis, says PM Modi</a></strong></p>

<p>Notably, the paragraphs are said to be adopted from the G20 Bali Leaders’ declaration in November but even at the time China wanted to change the language of the statement and remove the word “war”, reported AFP citing officials who requested anonymity.&nbsp;</p>

<p><strong>Indian finance minister addresses a press conference after the meetings</strong></p>

<p>“Although there was not what we would call a communique, but only an outcome statement, we still think we've made some progress in having all the ministers on board”, said the Indian Finance Minister Nirmala Sitharaman in her concluding remarks, earlier today.&nbsp;</p>

<p>She also addressed that, “Two countries, Russia and China had reservations. So with a footnote certainly a communique can't go out and therefore it had to be a chair summary and an outcome document.”&nbsp;</p>

<p><strong>ALSO WATCH |&nbsp;<a href="https://www.wionews.com/videos/g-20-finance-meet-hosted-by-india-ends-without-a-joint-communique-565934">G20 finance meet, hosted by India, ends without a joint communique</a></strong></p>

<p>Since the beginning of the conflict, New Delhi has not condemned Moscow and was seen as reluctant to raise the issue at the meeting but the western countries asserted that they could not support any outcome that did not include a condemnation.&nbsp;</p>

<p>Furthermore, Indian Economic Affairs Secretary Ajay Seth refuted the aforementioned claims about Moscow and Beijing wanting to change the language part of the summary and said, “Both Russia and China took the position that Finance Ministers and Central Bank Governors’ mandate is to deal with economic and financial issues and their mandate is not on geo-political issues. So they did not comment on the language part,” as per PTI. He added, “There was no request or demand to remove the word 'war', they just said to remove the paragraph itself because it was not the right place for having those paragraphs.”&nbsp;</p>

<p>Whereas the other 18 countries felt that the ongoing war has got implications for the global economy, which is why this is the right place to have those paragraphs, said the economic affairs minister. The two-day meeting discussed a range of issues which also included debt relief to poorer countries, digital currencies and payments, reforms of lending institutions like the World Bank and International Monetary Fund (IMF) as well as climate change and financial inclusion.</p>

<p><strong>ALSO READ |&nbsp;<a href="https://www.wionews.com/world/russia-sanction-regime-after-us-australia-imposes-sanctions-on-russia-565678">Russia-Ukraine war: After US, Australia imposes new sanctions on Moscow</a></strong></p>

<p>According to the Indian finance minister’s summary, the global outlook has somewhat improved since they last met in October 2022 but global growth remains slow and downside risks to the outlook persist. This was in reference to elevated inflation, a resurgence of the pandemic and tighter financing conditions, which could worsen debt vulnerabilities in emerging economies.&nbsp;</p>

<p>“We, therefore, reiterate the need for well-calibrated monetary, fiscal, financial, and structural policies to promote growth and maintain macroeconomic as well as financial stability. We will continue to enhance macro policy cooperation and support the progress towards the 2030 Agenda for Sustainable Development,” said Sitharaman.&nbsp;</p>

<p><strong>India's call for regulating crypto receives support</strong></p>

<p>There was also a discussion surrounding the adequacy of IMF quotas which the document released after the meeting said that the leaders would continue to work on IMF governance reform under the 16th General Review of Quotas which would also include a new quota formula as a guide which would be completed by December 15, 2023.&nbsp;</p>

<p><strong>ALSO READ |&nbsp;<a href="https://www.wionews.com/india-news/indias-push-to-regulate-crypto-get-support-from-imf-us-at-g20-565847">India’s push to regulate cryptocurrencies gets support from IMF, US at G20</a></strong></p>

<p>Notably, India’s push for regulation of private crypto assets also received support at the meeting. IMF Managing Director Kristalina Georgieva backing New Delhi’s stance on private cryptocurrencies and other digital assets said, “We have to differentiate between central bank digital currencies that are backed by the state and stable coins, and crypto assets that are privately issued.”&nbsp;</p>

<p>She added, “Second, there has to be a very strong push for regulation. And third, if regulation fails, if you’re slow to do it, then we should not take off the table or banning those assets, because they may create financial stability risk”. This comes after Indian officials including the finance ministry and Reserve Bank of India (RBI) has called for strong global regulations for private crypto assets and in some cases, they should be banned.&nbsp;</p>

<p><em>(With inputs from agencies)</em><br />
<br />
&nbsp;</p>

<p><strong>WATCH WION LIVE HERE</strong></p>

<p><iframe allow="accelerometer; autoplay; encrypted-media; gyroscope; picture-in-picture" allowfullscreen="" frameborder="0" height="350" loading="”lazy”" src="https://www.wionews.com/live-tv/embed?autoplay=1&amp;mute=1" width="100%"></iframe></p>

<p>You can <strong>now write for wionews.com</strong> and be a part of the community. Share your stories and opinions with us <strong><a href="https://www.wionews.com/content-contribution-registration-form">here</a>.</strong></p>


The meeting of the finance ministers for the group of 20 (G20) countries which had convened in the Indian city of Bengaluru ended on Saturday (February 25) without a joint statement.

The meeting of the finance ministers for the group of 20 (G20) countries which had convened in the Indian city of Bengaluru ended on Saturday (February 25) without a joint statement. This comes as most G20 member nations condemned the ongoing conflict in Ukraine but China and Russia declined to sign the joint statement. This led India, which was hosting the two-day event to release a “chair’s summary and outcome document” which is said to simply summarise the talks and noted disagreements. Disagreements at the G20 meeting The document in question wrote, “most members strongly condemned the war in Ukraine and stressed that it is causing immense human suffering and exacerbating existing fragilities in the global economy.” This was said in the context of supply chain disruptions, risks to financial stability, as well as continuing energy and food insecurity. It also added that there were “different assessments of the situation and sanctions” referring to the ongoing conflict. This comes as western countries have imposed thousands of sanctions against Russia and some of its citizens since it began what it has described as its “special military operation” in Ukraine, in a bid to starve the country of its revenues. A footnote said that the two paragraphs in the summary about the ongoing conflict “were agreed to by all member countries except Russia and China”. ALSO READ | India ready to contribute to any peace process for resolving Ukraine crisis, says PM Modi Notably, the paragraphs are said to be adopted from the G20 Bali Leaders’ declaration in November but even at the time China wanted to change the language of the statement and remove the word “war”, reported AFP citing officials who requested anonymity. Indian finance minister addresses a press conference after the meetings “Although there was not what we would call a communique, but only an outcome statement, we still think we've made some progress in having all the ministers on board”, said the Indian Finance Minister Nirmala Sitharaman in her concluding remarks, earlier today. She also addressed that, “Two countries, Russia and China had reservations. So with a footnote certainly a communique can't go out and therefore it had to be a chair summary and an outcome document.” ALSO WATCH | G20 finance meet, hosted by India, ends without a joint communique Since the beginning of the conflict, New Delhi has not condemned Moscow and was seen as reluctant to raise the issue at the meeting but the western countries asserted that they could not support any outcome that did not include a condemnation. Furthermore, Indian Economic Affairs Secretary Ajay Seth refuted the aforementioned claims about Moscow and Beijing wanting to change the language part of the summary and said, “Both Russia and China took the position that Finance Ministers and Central Bank Governors’ mandate is to deal with economic and financial issues and their mandate is not on geo-political issues. So they did not comment on the language part,” as per PTI. He added, “There was no request or demand to remove the word 'war', they just said to remove the paragraph itself because it was not the right place for having those paragraphs.” Whereas the other 18 countries felt that the ongoing war has got implications for the global economy, which is why this is the right place to have those paragraphs, said the economic affairs minister. The two-day meeting discussed a range of issues which also included debt relief to poorer countries, digital currencies and payments, reforms of lending institutions like the World Bank and International Monetary Fund (IMF) as well as climate change and financial inclusion. ALSO READ | Russia-Ukraine war: After US, Australia imposes new sanctions on Moscow According to the Indian finance minister’s summary, the global outlook has somewhat improved since they last met in October 2022 but global growth remains slow and downside risks to the outlook persist. This was in reference to elevated inflation, a resurgence of the pandemic and tighter financing conditions, which could worsen debt vulnerabilities in emerging economies. “We, therefore, reiterate the need for well-calibrated monetary, fiscal, financial, and structural policies to promote growth and maintain macroeconomic as well as financial stability. We will continue to enhance macro policy cooperation and support the progress towards the 2030 Agenda for Sustainable Development,” said Sitharaman. India's call for regulating crypto receives support There was also a discussion surrounding the adequacy of IMF quotas which the document released after the meeting said that the leaders would continue to work on IMF governance reform under the 16th General Review of Quotas which would also include a new quota formula as a guide which would be completed by December 15, 2023. ALSO READ | India’s push to regulate cryptocurrencies gets support from IMF, US at G20 Notably, India’s push for regulation of private crypto assets also received support at the meeting. IMF Managing Director Kristalina Georgieva backing New Delhi’s stance on private cryptocurrencies and other digital assets said, “We have to differentiate between central bank digital currencies that are backed by the state and stable coins, and crypto assets that are privately issued.” She added, “Second, there has to be a very strong push for regulation. And third, if regulation fails, if you’re slow to do it, then we should not take off the table or banning those assets, because they may create financial stability risk”. This comes after Indian officials including the finance ministry and Reserve Bank of India (RBI) has called for strong global regulations for private crypto assets and in some cases, they should be banned. (With inputs from agencies) WATCH WION LIVE HERE You can now write for wionews.com and be a part of the community. Share your stories and opinions with us here.

G20 finance meet ends without joint statement after differences over Russia-Ukraine conflict

Facing an economic crisis, Pakistan has agreed to hike tariffs on electricity to meet conditions set out by the IMF. The Pakistan government plans to raise more than 631 billion dollars in revenue to meet conditions for the global lender.

Pakistan to raise $631 MN in revenue, Finance Minister chairs meeting

Former NITI Aayog Vice-Chairman and Professor of Economics at Columbia University Arvind Panagariya unpacks the expectations from Budget 2023, and takes stock of the state of the Indian economy.

The India Story | Will the 2023 budget control the fiscal deficit, or continue spending for growth?

Rahul Bhasin, Managing Partner of Baring Private Equity Partners India, tells Vikram Chandra that reforms for capital gain tax are due in Budget 2023. He also says that the budget needs to incentivise making the economy more sustainable.

The India Story | Are reforms for Capital Gain tax due? Investor Rahul Bhasin on Budget 2023

Finance Minister Nirmala Sitharaman will present the Union Budget for 2023 next week, in what is a crucial year for India. Will the budget focus on controlling fiscal deficit, or continue with spending for growth? Could we see further tax reforms?

The India Story | Vikram Chandra’s take on what we can expect from Budget 2023

German Finance Minister Christian Lindner is under a corruption cloud. Lindner could lose his parliamentary immunity due to corruption charges.

German Finance Minister under pressure after corruption allegations

The Finance Minister then a leading Contender and now the Prime Minister, Rishi Sunak is going to take over office when the United Kingdom stands at a crucial point. The nation desperately seeks stability but does Sunak have what it takes, let's decode.

Finance minister, a contender and now the leader- Rishi Sunak to be the youngest UK PM

In a bit to further strengthen the diplomatic bond between Nepal and China, the Himalayan nation's Foreign Affairs minister has now held a meeting with his Chinese counterpart.

Nepal Foreign Minister and Wang Yi hold talks, key focus on trade and investment

<p>Pakistan Finance Minister Miftah Ismail has reportedly said that the country would need USD 41 billion in the next 12 months.</p>

<p>"We have to pay back USD 21 billion in the next year. I am guessing that the outside limit of the current account deficit will be USD 12 billion. I think that we should have reserves of at least three months. So we need USD 41 billion over the next 12 months and I think it will happen," he said as quoted by Pakistani news outlet Dawn.</p>

<p>The finance minister's statement came as he addressed the Pre-Budget Business Conference organised by the government in Islamabad. During the conference, Ismail said that Shehbaz Sharif government had re-engaged with the International Monetary Fund (IMF).</p>

<p>"We talked to them and we are very, very confident that we will soon have an agreement with the IMF. We are very, very confident of that," he said.</p>

<p>The minister further said that an average debt during the PTI government`s tenure was Pakistani rupees (PKR) 5,177 billion, while for the PML-N it was PKR 2,132 billion which was used for infrastructure development.</p>

<p>He said that over the span of 71 years, the country`s rulers -- including military dictators -- took out loans of PKR 25,000bn while former premier Imran took out loans worth PKR 20,000bn over a span of four years.</p>

<p>"This is 80 per cent of all loans taken by the entire government of Pakistan in the previous 71 years," he said, adding that this had resulted in an increase in debt servicing.&nbsp;</p>

<p>"The more you borrow, the more you have to pay."</p>

<p><em>(With inputs from agencies)</em></p>

<p><em>You can now <strong>write for wionews.com</strong> and be a part of the community. Share your stories and opinions with us <a href="https://www.wionews.com/content-contribution-registration-form"><strong>here</strong></a>.</em></p>

<p><strong><em>WATCH WION LIVE HERE</em></strong></p>

<div class="ui-state-default" contenteditable="false">
<div class="twitter-block" draggable="false"><iframe allow="accelerometer; autoplay; encrypted-media; gyroscope; picture-in-picture" allowfullscreen="" frameborder="0" height="350" src="https://www.wionews.com/live-tv/embed?autoplay=1&amp;mute=1" width="100%"></iframe></div>
<a class="close-mark close-div" href="#" id="jqclosemark">×</a></div>

<p>&nbsp;</p>


Pakistan Finance Minister Miftah Ismail has reportedly said that the country would need USD 41 billion in the next 12 months. "We have to pay back USD 21 billion in the next year.

Pakistan Finance Minister Miftah Ismail has reportedly said that the country would need USD 41 billion in the next 12 months. "We have to pay back USD 21 billion in the next year. I am guessing that the outside limit of the current account deficit will be USD 12 billion. I think that we should have reserves of at least three months. So we need USD 41 billion over the next 12 months and I think it will happen," he said as quoted by Pakistani news outlet Dawn. The finance minister's statement came as he addressed the Pre-Budget Business Conference organised by the government in Islamabad. During the conference, Ismail said that Shehbaz Sharif government had re-engaged with the International Monetary Fund (IMF). "We talked to them and we are very, very confident that we will soon have an agreement with the IMF. We are very, very confident of that," he said. The minister further said that an average debt during the PTI government`s tenure was Pakistani rupees (PKR) 5,177 billion, while for the PML-N it was PKR 2,132 billion which was used for infrastructure development. He said that over the span of 71 years, the country`s rulers -- including military dictators -- took out loans of PKR 25,000bn while former premier Imran took out loans worth PKR 20,000bn over a span of four years. "This is 80 per cent of all loans taken by the entire government of Pakistan in the previous 71 years," he said, adding that this had resulted in an increase in debt servicing. "The more you borrow, the more you have to pay." (With inputs from agencies) You can now write for wionews.com and be a part of the community. Share your stories and opinions with us here. WATCH WION LIVE HERE ×

Pakistan needs USD 41 billion in next 12 months, says finance minister

finance-minister

Finance Minister, News on Finance Minister, stories on Finance Minister, articles on Finance Minister, Finance Minister stories at Wion, Finance Minister news, Finance Minister latest news