2021 Global Growth Forecast to Remain Unchanged at 6%: IMF Chief

The global economic recovery will most definitely be held back unless the pace of COVID-19 vaccinations picks up in pandemic stricken countries, as remarked by the IMF Managing Director, Kristalina Georgieva.

While addressing an online event, she added a prediction that the global growth for 2021 will be about 6 percent, which was the same as forecasted in April, reported Reuters.

In April, the IMF had projected that the 2021 global growth would slide by six percent — a rate that had previously been observed during the shaky 1970s. With similar trends predicted for the remainder of the year, the IMF’s focus has now shifted towards global vaccination trends as countries are expected to adjust their fiscal activities on account of vaccine availability and the rate of inoculation as a safeguard against inflation and other pariahs of economic uncertainty.

In this regard, the IMF has hinted at a large-scale partnership with the World Bank to help the countries that are struggling with curbing the coronavirus.

In the meantime, the IMF is scheduled to release its next World Economic Outlook forecast update on 27 July in a report that could hint at a few possible venues for all the countries to consider while addressing the issue at hand.

Source: Pro Pakistani

Four killed in boat sinking incident

At least four people were killed when a boat carrying tourists sank in a small dam in Bajaur district of Khyber Pakhtunkhwa.

Chief Minister Khyber Pakhtunkhwa Mahmood Khan has expressed deep grief and sorrow over the loss of precious lives in the incident.

Source: Radio Pakistan

Sindh Govt allocates Rs24.72b in current FY to counter adverse impacts of COVID-19

Sindh government has allocated 24.72 billion rupees in current financial year to counter the adverse impacts of corona pandemic.

Our Karachi correspondent Altaf Pirzado reports that an amount of 18.32 billion rupees will be spent to purchase medicines and two billion rupees for procuring Personal Protection Equipment and PCR testing kits.

Official concerned informed Radio Pakistan that 964 new posts will also be created in current financial year to meet the shortage of healthcare sector in the province.

Source: Radio Pakistan

Traffic on Karakorum Highway remained suspended for 2nd consecutive day today

Traffic on Karakorum Highway remained suspended for the second consecutive day today.

The road was blocked due to landsliding at various points from Goharabad to Lal Pari in Diamer. Work in Tatta Pani is in progress.

The KKH was also blocked near Khunjarab pass where a landsliding hit the road early this morning.

The Gilgit -Skardu road was also blocked in Astak Nallah.

Workers of Frontier Works Organization are engaged in restoring traffic by removing debris from road sides.

Source: Radio Pakistan

GB CM directs to restore traffic on roads

Gilgit-Baltistan Chief Minister Muhammad Khalid Khorsheed has directed concerned departments to restore traffic on roads which were blocked due to rain and landsliding.

In a statement on Thursday, he asked the Government department to initiate rehabilitation work in affected areas.

Khalid Khorsheed also asked relevant departments to release travel advisory keeping in view weather conditions, so that travelers would be facilitated.

He said the Government will extend maximum support to the rains and floods affectees and ensure their support at all cost.

Source: Radio Pakistan

Eid-ul-Azha festivities continue across country

On the second day of Eid-ul-Azha today, faithful will continue to offer sacrifice of animals.

The festivities of Eid with strict adherence to standard operating procedures against COVID-19 also continue as people are visiting relatives to greet each other.

The municipal authorities in all major cities and towns have made elaborate arrangement to dispose of offals and to ensure cleanliness.

Source: Radio Pakistan