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The International Monetary Fund (IMF) has set a goal for Pakistan to advance its reserves to $13.9 billion by the end of June, with the country’s State Bank currently holding a reserve of approximately $14 billion, which is enough to cover three months of imports.

Pakistan Fails To Meet Economic Target

The Pakistani federal government has reportedly fallen short of its economic growth target for the fiscal year 2024-25, achieving a growth rate of just 2.68 per cent against a projected 3.6 per cent, ARY News reported on Tuesday, citing sources from Pakistan’s National Accounts Committee.

This was reportedly revealed during a National Accounts Committee meeting in Islamabad, chaired by the Secretary Planning.

The report said that Pakistan’s economic output reached USD 411 billion, with per capita income increasing to USD 1,824.The Pakistan government is reportedly planning to borrow USD 4.9 billion from international banks to meet its external financing needs and strengthen its foreign exchange reserves. This comes after the International Monetary Fund, earlier this month, authorised the “immediate disbursement” of a billion-dollar bailout to the South Asian nation’s troubled economy.

Islamabad’s strategy is to secure USD 2.64 billion in short-term loans from international commercial banks at expected annual interest rates between 7 per cent and 8 per cent without strict conditions or performance benchmarks, according to a report by ARY News.

Additionally, the government is seeking USD 2.27 billion through long-term borrowing arrangements from commercial banks, the report said.

As part of the plan, Islamabad is reportedly in touch with four major international banks. This includes a proposal to obtain USD 1.1 billion from the Industrial and Commercial Bank of China (ICBC), along with USD 500 million each from Standard Chartered Bank and Dubai Islamic Bank. Moreover, a commercial guarantee is also being sought for a USD 500 million loan from the Asian Development Bank (ADB), according to a report by news agency ANI. 

The additional funding is reportedly part of Islamabad’s broader strategy to meet Pakistan’s external financing needs, which are driven by large debt repayment obligations and limited access to global capital markets, as well as to strengthen its foreign exchange reserves. 

He added, “Our tailor-made product offerings extend beyond auto retail financing and we are well poised to empower every Indian to achieve financial freedom, through easy and accessible loans. Keeping this as one of the cornerstones for progress, we are focused on partnering with top OEMs across key sectors. We are thrilled to ink this partnership with Maruti Suzuki and look forward to jointly serving their customers across the country.”Speaking on the partnership, Partho Banerjee, Senior Executive Officer, Marketing & Sales, Maruti Suzuki India Limited, said, “At Maruti Suzuki, customer delight remains to be our top priority. Our partnership with SMFG India Credit adds to our continuous efforts in aiding customers with easy, flexible, and personalised financing options for Super Carry and Eeco Cargo.”

“The Super Carry has a special place in the hearts of fleet owners and drivers with its exceptional load carrying capacity & power, while the Eeco Cargo’s versatile combination of comfort and utility makes it a preferred choice. By leveraging SMFG India’s robust and wide network, customers can expect seamless, tech-driven, end-to-end financing experiences,” he added.

Sharing his thoughts on the alliance, Ajay Pareek, Chief Business Officer, SMFG India Credit, said, “We are excited to offer top-class credit solutions to Maruti Suzuki customers as one of their retail vehicle financing partners. This collaboration aligns with our aim of becoming the preferred lending partner of choice for millions of Indians.”Maruti Suzuki India Limited (MSIL) has announced an alliance with SMFG India Credit (SMICC) to offer consumers custom auto retail financing solutions for commercial vehicles of the brand. Both brands have signed a Memorandum of Understanding (MoU) specifically targeting consumers of the Maruti Suzuki Eeco Cargo and Super Carry models.

The arrangement was officially established during a ceremony that was graced by high-ranking officials from both firms, such as Partho Banerjee and Nobutaka Suzuki representing Maruti Suzuki, together with Swaminathan Subramanian and Ajay Pareek from SMFG India Credit.

Also Read: Aston Martin F1 Team, Realme Partner For 3 Years; Unveil GT7 Dream Edition

Speaking on the partnership, Partho Banerjee, Senior Executive Officer, Marketing & Sales, Maruti Suzuki India Limited, said, “At Maruti Suzuki, customer delight remains to be our top priority. Our partnership with SMFG India Credit adds to our continuous efforts in aiding customers with easy, flexible, and personalised financing options for Super Carry and Eeco Cargo.”

“The Super Carry has a special place in the hearts of fleet owners and drivers with its exceptional load carrying capacity & power, while the Eeco Cargo’s versatile combination of comfort and utility makes it a preferred choice. By leveraging SMFG India’s robust and wide network, customers can expect seamless, tech-driven, end-to-end financing experiences,” he added.

Sharing his thoughts on the alliance, Ajay Pareek, Chief Business Officer, SMFG India Credit, said, “We are excited to offer top-class credit solutions to Maruti Suzuki customers as one of their retail vehicle financing partners. This collaboration aligns with our aim of becoming the preferred lending partner of choice for millions of Indians.”

Among those killed, three were riding the bike, while the fourth victim was a passenger in the car.

Of the three injured, all are in critical condition, they were later referred to Gwalior for further treatment.

Narendra Singh Kushwaha, when he came upon the scene, said the injured were strewn across the road. He halted his journey and took immediate action, arranging for their transport to the district hospital.

The legislator not only ensured their admission to the hospital but also personally oversaw their treatment.

As reports emerged about the gravity of the accident, Mr Kushwaha took to social media to express his commitment: “After admitting all the injured victims in the road accident near Pidoura village to Bhind hospital, I personally reached the hospital and took stock of the condition of the victims and on that basis, arranged for their proper treatment and sent the more seriously injured victims to Gwalior for treatment,” wrote the legislator on his X handle.

The deadly head-on collision between the car and the bike resulted in instantaneous deaths, with the sheer impact claiming four lives on the spot.

This incident serves as yet another grim reminder of the pressing need for enhanced road safety measures.

According to police, the victims, who were riding the bike, have been identified as Biharilal Baghel (40), a resident of Kathma village, along with his uncle Sujan Singh Baghel (50) and cousin Rishikesh Baghel (22) and the car occupant Mehmood (23).

The bikers had attended a pre-wedding ritual in Bhind and were returning home late at night.

Rishikesh was at the helm of the bike when the incident occurred. The high-speed collision left the car uncontrollable, causing it to overturn by the roadside. Among its passengers, Mahmood (23), son of Hamid Khan from Porsa village, succumbed to his injuries instantly. Other occupants of the car who received injuries include Suraj (19), Kallu (22), Anshu (22), Shakeel (24), and Chalu (22) — were gravely injured and transported to the District Hospital, Bhind via ambulance and critical patients were later shifted to Gwalior, the police said.Four lives were lost in a tragic accident when a car collided with a bike near Pidoura village on the Etawah-Uttar Pradesh highway that passes through Gwalior in Madhya Pradesh, leaving six others with severe injuries.

The incident occurred at around 1 a.m. on Monday in the Barohi police station area of Bhind district.

The police reached the spot and sent the victims for post-mortem examinations.

A local legislator from Bhind, Narendra Singh Kushwaha, who was passing through the highway, first saw the injured lying on the road. He took the injured to the district hospital of Bhind in his vehicle.

Sarthak Ahuja, a Chartered Accountant (CA) and financial expert, often discusses the Indian diaspora’s financial achievements in the US, including their high earning potential. Despite being only 1.5% of the population (around 5.1 million people), Indians contribute over 5% of US tax revenue, showcasing their economic influence through high earnings, innovation, and intellectual capital. In an Instagram video, Mr Ahuja emphasised Indian-Americans’ valuable contributions to innovation, intellectual capital, and tax revenue, demonstrating the community’s substantial influence.

Mr Ahuja also shed light on the Indian diaspora’s multifaceted success in the US, highlighting their achievements not only in education, business, and tech but also in philanthropy. He shared key facts and figures to underscore the community’s significant contributions.In the video, he noted that Indian Americans account for 10% of US patents, 10% of doctors (serving 30% of patients), and 11% of unicorn founders. They own 60% of US hotels, and 70% of colleges have Indian leaders. With 78% holding college degrees (compared to the national 36%) and 76% in high-skill roles, they excel professionally. Indian children dominate, winning over 80% of recent Spelling Bee competitions. Indian restaurants, though just 1% of US eateries, make up 3% of Michelin-starred venues. In 2023, they donated $1.5 billion in the US and $800 million to India, showcasing their immense soft power and respect earned through generations of hard work.The comments section was flooded with praise and admiration for the Indian-American community’s remarkable accomplishments, with users applauding their contributions to the US economy, innovation, philanthropy, and more.

Reacting to the video, one user wrote, “This stat clearly shows when given the right opportunities and direction, Indian origin people can bring so much positive change in the world. We have so much untapped potential within our country’s bounds. Give us the right environment to grow and we can take better care of ourselves. ‘

Another person commented, “The US economy runs well because of the Indians.”The comments section was flooded with praise and admiration for the Indian-American community’s remarkable accomplishments, with users applauding their contributions to the US economy, innovation, philanthropy, and more.

Reacting to the video, one user wrote, “This stat clearly shows when given the right opportunities and direction, Indian origin people can bring so much positive change in the world. We have so much untapped potential within our country’s bounds. Give us the right environment to grow and we can take better care of ourselves. ‘

Another person commented, “The US economy runs well because of the Indians.”As per Pew Research Centre, the median income among Indian American households was $145,000 in 2022, meaning that half of households headed by an Indian American person earned more than that and half earned less. This is greater than the median household income among Asian Americans overall ($100,000).

Mr Ahuja shed light on the Indian diaspora’s multifaceted success in the US, highlighting their achievements not only in education, business, and tech but also in philanthropy.Sarthak Ahuja, a Chartered Accountant (CA) and financial expert, often discusses the Indian diaspora’s financial achievements in the US, including their high earning potential. Despite being only 1.5% of the population (around 5.1 million people), Indians contribute over 5% of US tax revenue, showcasing their economic influence through high earnings, innovation, and intellectual capital. In an Instagram video, Mr Ahuja emphasised Indian-Americans’ valuable contributions to innovation, intellectual capital, and tax revenue, demonstrating the community’s substantial influence.

Mr Ahuja also shed light on the Indian diaspora’s multifaceted success in the US, highlighting their achievements not only in education, business, and tech but also in philanthropy. He shared key facts and figures to underscore the community’s significant contributions.In the video, he noted that Indian Americans account for 10% of US patents, 10% of doctors (serving 30% of patients), and 11% of unicorn founders. They own 60% of US hotels, and 70% of colleges have Indian leaders. With 78% holding college degrees (compared to the national 36%) and 76% in high-skill roles, they excel professionally. Indian children dominate, winning over 80% of recent Spelling Bee competitions. Indian restaurants, though just 1% of US eateries, make up 3% of Michelin-starred venues. In 2023, they donated $1.5 billion in the US and $800 million to India, showcasing their immense soft power and respect earned through generations of hard work.The comments section was flooded with praise and admiration for the Indian-American community’s remarkable accomplishments, with users applauding their contributions to the US economy, innovation, philanthropy, and more.

Reacting to the video, one user wrote, “This stat clearly shows when given the right opportunities and direction, Indian origin people can bring so much positive change in the world. We have so much untapped potential within our country’s bounds. Give us the right environment to grow and we can take better care of ourselves. ‘

Another person commented, “The US economy runs well because of the Indians.”

As per Pew Research Centre, the median income among Indian American households was $145,000 in 2022, meaning that half of households headed by an Indian American person earned more than that and half earned less. This is greater than the median household income among Asian Americans overall

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