Pakistan plans to cut power subsidies, increase tariffs for commercial and private consumers and promote coal generation as it seeks within five years to end blackouts that are hurting economic growth.
The candidate of Pakistan’s ruling party was set to be elected the country’s president, tightening Prime Minister Nawaz Sharif’s grip on power as he struggles to push ahead with plans to end energy and security crises.
China and Pakistan signed a deal to build a $44 million fiber-optic cable connecting their border region with the Pakistani military garrison city of Rawalpindi, and agreed to explore a strategic transport corridor.
The International Monetary Fund was “very impressed” with the Romanian government’s commitment to its bailout agreement after it raised a sales tax to win approval, said Jeffrey Franks , the fund’s mission chief to the country.
The International Monetary Fund completed a review of Romania’s loan accord and agreed to let the country widen its budget deficit to accommodate a public- sector wage increase after a third government took office this year.
The International Monetary Fund probably will cut its 2012 growth forecast for Romania’s export- reliant economy as the euro-area debt crisis crimps growth in the Balkan country’s main trading partners.