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03/07/2009  
 Headlines: Senate told Seven airports shut in country,     ISB: The Senate was informed Friday that seven airports in different cities have been closed due to suspension of PIA flights.     The PIA suspended the flights due to a daily loss of Rs19 million during last year.     Suprem Court orders arrest of Gilani’s ex-PRO,     ISB: SC has asked the FIA to arrest former media coordinator of the prime minister, Khurram Rasool.     Present him in the court on 24th January otherwise action would be taken against the Agency.     Khurram Rasool is accused of corruption of Rs530 million.     Musharraf denies delay in return,     LONDON/KARACHI: Former military ruler & chief of (APML) Pervez Musharraf has rejected reports about suspension of programme to return home.     he would be back in Pakistan according to the scheduled programme.     SBP injects Rs 242.5bn in market,     Trade thru dry port fetches Rs1bn tax,     India SC rejects army chief’s plea,     100 more engines by year-end: Bilour,
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 3rd round of Pak-IMF talks starts tomorrow



ISLAMABAD: Third round of talks between Pakistan and International Monetary Fund (IMF) will begin from Saturday (tomorrow) in Dubai and issues of extension in period for withdrawal of subsidy on electricity and matters related to loans will be highlighted in the discussion.
Official sources told this news agency Thursday that it was agreed upon in the accord reached between Government of Pakistan and IMF that Pakistan would withdraw subsidy on electricity in the beginning of Financial Year 2009-10 but government had decided to seek extension in the timeframe under the pressure of masses and its coalition partners. Government would request IMF to grant relaxation in timeframe for withdrawing subsidy on electricity till December 31. Sources told that government would have to bear additional expenses of Rs50 to Rs60 billion if it decided against withdrawing subsidy. In this case, the government would have to inform IMF, in writing, how it would meet the budget deficit. Sources further informed that financial assistance amounting to $780 million was likely to be provided by IMF in the third round of talks. Finance secretary Suleman Siddique, Governor State Bank of Pakistan Salim Raza, Chairman FBR, additional secretary finance and senior officials would also participate in the meeting along with Advisor to Prime Minister on Finance Shaukat Tareen.-Online