Pakistanis who won’t be able to get their renewed visa of UAE .

by net desk 

In an effort

to ensure the rights of children, the United Arab Emirates (UAE) government has decided to strictly enforce its laws regarding obtaining visas for Pakistanis below 18 years of age.

In an exclusive interview with Geo News, UAE Consul General in Karachi Bakheet Ateeq Al-Remeithi said, "A large number of Pakistanis who are on work visas in the UAE are violating the Wadeema Act - Federal Child Rights Act No. 3 of 2016."

According to the Consul General, these laws define children's right to education and a large number of Pakistanis deprive their children of this right by forcing them to sit at home.

"The government has made difficult decisions in this regard in the past in an important meeting," he said, adding that rules regarding the rights of children with families living in the UAE must be strictly enforced.

The Emirati envoy promoted the importance of education for children. "The UAE government has decided to crack down on parents who break child protection laws."

He said, "The Wadeem Act is for Pakistanis who have a work or residence visa."

Al-Remeithi called on Pakistani parents in the UAE to ensure their children's education and protect their rights, including rights related to health and freedoms.

The Consul General also told Geo News that there are 16 to 17 million Pakistanis living in the UAE.

those who break the law can be deported from the UAE and informed the media about the restrictions on obtaining new visas.

"In future, visas will be granted to Pakistanis who ensure the full implementation of the Wadeema Act."

Commenting on whether the law applies to other Pakistanis, Al-Remeithi said there is no such restriction for Pakistani nationals applying for a visitor visa.

“The UAE government will welcome Pakistanis coming to the UAE on a tourist visa and there is no restriction for them to visit the country,” the envoy explained.

Some Ways to Use Chat GPT at Work to Boost Your Productivity, Job Easier, and Save Time

 by marana

• ChatGPT will not replace your work anytime soon. But it can make it a little easier.

• With its impressive features, a busy AI chatbot could “increase productivity” for some workers.

• Open ChatGPT AI and similar AI tools may not replace jobs anytime soon. But they can help workers in many industries—from technology to media—do their jobs better and faster.

1-DATA ANALYSIS

OpenAI's ChatGPT and similar AI tools may not replace tasks anytime soon. But they can help workers in many industries—from technology to media—do their jobs better and faster.

"It's almost like a modest productivity boost that some of these occupations might get," Anu Madgavkar, a partner at economic research firm McKinsey Global Institute, told Insider.

The live conversational chatbot - which attracted one million users shortly after its launch in November last year - is used to create real estate advice, give tips on how to start a business and even write music in the style of individual artists, all at varying levels. success.

Investors have poured hundreds of millions of dollars into industry-specific generative AI tools on the belief that these tools have the potential to solve problems that hospitals and marketing departments, for example, may encounter.

Sam Altman, CEO of the company behind ChatGPT, would agree, having previously said that "generative text is something we all have to adapt to."

“I think we adapted to calculators and changed what we tested in math class,” Altman said during an interview with StrictlyVC in January. “This is definitely a more extreme version, but its benefits are also more extreme.

Mark Muro, a senior fellow at the Brookings Institute who has researched the impact of artificial intelligence on the workforce, echoes this sentiment.

"It's absolutely true that AI applications like ChatGPT can greatly improve the lives of workers," Muro told Insider.

Workers should be careful when using AI tools, as the technology can be prone to misinformation and can remove the human touch from tasks like typing. Most companies also haven't established formal rules for employee use of the AI ​​tool, although firms like Microsoft — a major partner and investor in Open AI parent company ChatGPT — recently gave employees the green light to use the chatbot for work purposes as long as they don't share sensitive information with the site.

Here's how you can use ChatGPT and AI to make your work life easier.

2-ChatGPT Use it as a Google alternative for research

How many times a day do you google something at work? This may be less common with ChatGPT.

In fact, the search engine giant is reportedly worried that you'll end up typing your queries into ChatGPT. The company issued a "code red" regarding a potential bot threat to its search business.

"Google may be just a year or two away from total disruption," Gmail creator Paul Buchheit tweeted on Wednesday, adding that AI would be able to "instantly do what would take a human many minutes" with a search engine like Google. .

While ChatGPT isn't always accurate — its knowledge goes back to 2021 — it can analyze data from millions of websites and try to answer any question it gets. Plus, it gets smarter the more it's used.

Rather than providing users with a series of links to browse—many of which are high on the page simply because of ad spend—ChatGPT provides the user with a quick response. And if the answer is too complicated, ChatGPT can explain it in simpler terms if you ask. Having quick access to information could ultimately make your job more enjoyable, freeing up time to generate ideas.

3-Use it to write essays, speeches, cover letters and employee evaluations

As many students with essay assignments have already realized, ChatGPT can be quite useful as a writing tool.

While some teachers are trying to crack down on the use of AI, UPenn professor Ethan Mollick recently told NPR that he requires his students to use ChatGPT.

He said he thinks it can help students generate ideas and improve their writing, adding that the tool could also help save time when writing letters and emails.

"There are a lot of positives," Mollick said during an interview with NPR. "That doesn't diminish the fact that cheating and negativity are there, but they've been there for a long time.

Jeff Maggioncalda, CEO of online course provider Coursera, told CNN that he uses ChatGPT to write work emails and even speeches.

"I use him as a writing aid and as a thought partner," Maggioncalda said.

Creatives looking for inspiration for their books or songs have also asked ChatGPT to create some rough drafts for them.

TikTok user @frontlineleadership, who works as an executive coach, said he even used ChatGPT to write employee reviews and was happy with the result.

"I just had to make minor adjustments here and there," the TikToker said in a January post. “It literally saved me about 12 hours of work.

"ChatGPT is a game changer," he said.

4-USE ChatGPT for quick data analysis.

Many roles involve various forms of data analysis, and ChatGPT can process a lot of information quickly.

"Analyzing and interpreting vast amounts of linguistic data and information is a skill you'd expect generative AI technologies to pick up," Madgavkar told Insider.

"If you're an academic, it's quite nice not to have to do statistical analysis by hand," said Benedikt Frey. “You can make a lot more things.

It could also help those trying to use data to make investment decisions, Muro, a senior fellow at the Brooking Institute, previously told Insider.

"AI can identify trends in the market, highlight which investments in a portfolio are performing better and worse, communicate all of that, and then use various other forms of data from, say, a financial company to predict a better investment mix," he said. .

5-used for task planning, planning and time management

ChatGPT can help you manage your work schedule. Chinnapong/Getty Images

Organizing your busy work schedule can be time-consuming – but ChatGPT and other forms of artificial intelligence can help make the process go a little more smoothly.

Economists from the Organization for Economic Co-operation and Development (OECD) conducted a 2022 study on the skills that AI can replicate and found that AI tools can handle planning and prioritizing tasks – in many cases even “better than humans” .

"Scheduling work and activities seems to be a perfect problem for artificial intelligence," the study says.

Some users have tried it with promising results. Micah, a YouTuber who makes videos exploring AI, posted a video demonstrating how he used ChatGPT to automate his work scheduling.

After asking ChatGPT to create a daily work schedule that includes tasks like completing a performance report and scheduling a meeting with his boss, the chatbot was able to spit out an hour-by-hour breakdown of the potential schedule in seconds.

He then asked ChatGPT to re-prioritize certain tasks, but ChatGPT suggested that "it may not be feasible" given his time constraints.

6-When looking for a second opinion: Ask how to start a business and support customers

If you are a current or budding entrepreneur, ChatGPT can help you think through the process of starting a business.

Insider's Jennifer Ortakales Dawkins asked the chatbot a variety of questions and found it to be a useful tool for generating ideas, estimating startup costs, and outlining a business plan.

Coursera's Maggioncalda told CBS MoneyWatch that he uses ChatGPT to think through business challenges and strategies.

"I ask ChatGPT to be aware of where my biases and blind spots may be," he said. "And the answers it provides are a really, really good starting point for checking your thinking."

Even Amazon employees who tested ChatGPT said it does a "very good job" at answering customer support questions and is "very strong" at answering business strategy questions.

7-ChatGPT can help programmers identify bugs and write code

Oded Netzer, a professor at Columbia Business School, thinks AI will help coders rather than replace them.

"When it comes to jobs, I think it's more of an enhancement than a complete replacement of jobs," Netzer told CBS MoneyWatch. "Coding and programming is a good example of that. He can actually write code quite well."

Specifically, ChatGPT is able to quickly generate lines of code to solve certain coding problems. One TikTok user, @asap_blockie, asked ChatGPT to identify a bug in some code he was working on as part of his job, he said in a December video.

"It pointed out what was wrong with my code," he said. “And then I copied and pasted it, and then it worked.

But coders should proceed with caution when accepting help from AI, as some users have found ChatGPT to respond incorrectly to coding problems.

8-When work is not going well: Use it to apply for a new job or to negotiate a salary increase

Finally, if you are not happy in your job, ChatGPT can offer you some support. People use it to create resumes and cover letters when looking for a job. 6-When looking for a second opinion: Ask how to start a business and support customers

If you are a current or budding entrepreneur, ChatGPT can help you think through the process of starting a business. when asked the chatbot a variety of questions and found it to be a useful tool for generating ideas, estimating startup costs, and outlining a business plan.

Coursera's Maggioncalda told CBS MoneyWatch that he uses ChatGPT to think through business challenges and strategies. "I ask ChatGPT to be aware of where my biases and blind spots may be," he said. "And the answers it provides are a really, really good starting point for checking your thinking."

Even Amazon employees who tested ChatGPT said it does a "very good job" at answering customer support questions and is "very strong" at answering business strategy questions.

"It will make your cover letter so you don't have to waste any more time," Jonathan Javier, CEO of career consulting firm Consulting, said in a January TikTok video.

If you're pretty happy at work but feel like you're undervalued, ChatGPT can even help you get paid. Insider's Sarah Jackson asked ChatGPT for advice to help her prepare for a theoretical salary negotiation, and two career coaches told her she could probably get a raise if she followed the AI ​​scenario.

45 WAYS TO ONLINE EARNING in 2023

by our correspondent 

here are some best online earning methods in 2023. you should prior to start working on any of below idea you can review your interest, skills, audience and country/region. 

1. Start a blog and monetize it through advertising or affiliate marketing

2. Creation and sale of online teaching and online courses

3. Creating and Monetizing a YouTube Channel

4. Offer freelance services such as writing, graphic design or web development, profile creation, bookkeeping.

5. Guest broadcasting GBOB service

6. data mining and data scraping

7. Investing in cryptocurrency like bitcoin through bitget and binance

8. Creation and sale of NFTs on the high seas, etc

9. Launching a podcast and monetizing it through sponsorship or advertising

10. Creation and sale of software

1. Selling products on Amazon or Etsy and other platforms.

11. Participation in online surveys

12. Establishment of a marketing agency on social networks

13. Investing in real estate

14. Starting a web design or development business

15. Creation and sale of mobile applications, Purchase and turning of websites

16. Offer of consulting services

17. Investing in shares and commercial or other securities

18. Commencement of meal delivery

19. Starting a tutoring service

20. Creation and sale of printed materials

21. Starting a lawn care or landscaping service

22. Starting a handyman service

23. Starting the car details service

24. Start of catering service

25. Creation and sale of e-books

26. Starting a Virtual Assistant Business

27. Launch of personal shopping service

28. Starting the bookkeeping service

29. Audit and tax advice

30. Commencement of Transcription Service

31. Subtitling

32. Commencement of personal training service

33. Starting a voice service

34. Launching a translation service

35. Creation and sale of 3D models

36. Starting a video editing service

37. Starting a boat rental company

38. Starting a drone photography service

39. Starting a comedy or comedy writing service

40. Starting a party planning service

41. Starting a wedding planning service

42. Establishment of a car rental company

43. Launch of the holiday rental service

44. tour guide, tour guide and tricks services

45. Hotel management

It's worth noting that these ideas are not guaranteed to make money, and they all require time and effort to be successful. It's also important to do your own research and understand the risks before selectng investing in any of the above ideas.

GST risen by 1% new rate is 18% with immediate effect.

by marana 

FBR revised General Sales tax GST from 17% to 18% with immediate effect. this FBR act will rise further inflation in Pakistan. expected inflation rate is 35% this month and onward.

All sectors of Pakistan oppose this tax escalation in these days. simultaneously Petroleum price also increase upto Rs. 22.

IMF deal can not finalized yet and Pakistan Foreign reserve deteriorate below 3 Billion Dollars. Pakistan is approaching to Default. God bless us and our this country.

10- VALUABLE BENEFITS OF GREEN TEA. CONSUME 3-4 CUPS OF GREEN TEA DAILY TO GET A HEALTHY LIFE.

 my masohail

Green tea or qehwa in local language has become popular worldwide due to its many purported health benefits, such as lowering cholesterol, promoting weight loss, and protecting against cancer. Its flavor is typically described as slightly grassy and astringent.

Here are the main benefits of green tea –

1. Losing weight

Green tea is an ancient medicine that is widely known for its numerous health benefits. It has been used for centuries for its therapeutic properties and is now gaining attention for its potential role in weight loss. Studies suggest that drinking green tea can help speed up metabolism and increase fat burning.

Green tea is rich in catechins, a type of antioxidant known for its fat-burning properties. These catechins are thought to work by stimulating the body's metabolism and increasing calorie burning. In addition, green tea contains caffeine, which can increase the body's energy levels, allowing it to burn more calories.

While green tea won't work as a miracle weight loss solution, it can help speed up the process. To get the most out of the fat burning benefits of green tea, it is recommended to drink 3-5 cups a day and combine it with a healthy diet and regular exercise. You should also limit your caffeine intake to avoid side effects or health risks.

2. Protects brain function

Recently, studies have shown that green tea can help protect brain function. Research shows that compounds found in green tea, such as catechins and theanine, may help protect the brain from free radical damage, reducing the risk of age-related dementia, Parkinson's disease, and other neurological disorders.

The catechins found in green tea, specifically EGCG, have been found to help protect neurons in the brain, improving memory, attention and overall brain health. Theanine, another compound found in green tea, helps reduce stress and anxiety while aiding cognitive function. This compound also helps reduce levels of the stress hormone cortisol, which may be beneficial in reducing the risk of developing Alzheimer's disease.

In addition to protecting the brain from damage, green tea has also been found to help reduce inflammation and support healthy brain aging. .

3. Helps heart health and diabetes

Modern medical research has clearly demonstrated the positive health benefits of drinking green tea for heart health. Green tea is rich in antioxidants that help protect your cells from damage caused by free radicals. Studies link green tea consumption to a reduced risk of coronary artery disease, stroke and lower overall mortality in those who drink it regularly. In addition, drinking green tea has been shown to lower cholesterol, reduce inflammation, and improve blood vessel function. All of these factors help reduce the risk of developing heart disease and other cardiovascular problems.

Green tea also contains compounds that help reduce blood pressure and the risk of developing atherosclerosis. In addition, green tea may help reduce the risk of developing type 2 diabetes by helping to improve insulin sensitivity and glucose tolerance.

Overall, drinking green tea regularly can help promote heart health and reduce the risk of developing chronic diseases. The antioxidants in green tea can help protect your cells from damage and reduce inflammation, while its compounds can help improve cholesterol levels and lower blood pressure. Therefore, incorporating green tea into your daily routine can help you lead a healthier lifestyle and improve your overall well-being.

4. For skin health

Green tea has been used for centuries as a natural remedy for skin health. Its powerful antioxidants, polyphenols, and catechins provide amazing benefits, including protection against sun damage, reduced inflammation, improved hydration, and brighter skin. Studies have also shown that green tea can help reduce the appearance of wrinkles, dark spots, age spots and acne. To achieve these skin benefits, simply drink one cup of green tea a day or apply a green tea face mask. You can also use green tea topically by adding a few drops of green tea extract to your moisturizer or lotion to promote skin health. Green tea is a natural, affordable and easy way to keep your skin healthy and looking its best.

5. May helps prevent from Cancer.

Green tea can help prevent or reduce the risk of various types of cancer, including breast, prostate, colon and rectal, and lung. Green tea contains powerful antioxidants such as catechins, which can help protect cells from damage caused by unstable molecules called free radicals.

 

Several studies have suggested that higher consumption of green tea is associated with a lower risk of certain types of cancer. However, more research is needed to determine how green tea affects cancer risk. It's also important to note that drinking green tea alone is unlikely to reduce cancer risk, and that other lifestyle changes, such as a balanced diet and physical activity, are also important.

6. for oral health

Green tea is becoming increasingly popular as a natural way to promote better oral health. It is known to be full of antioxidants that help reduce inflammation and protect against harmful bacteria. Research has shown that green tea can help reduce plaque build-up, fight cavities and reduce the risk of gum disease. It can also help improve bad breath by reducing odor-causing bacteria.

When it comes to your oral health, green tea is a great choice. The polyphenols and other antioxidants found in green tea help reduce inflammation, fight plaque, and keep your gums healthy. To get the most benefit from green tea, drink it without adding any sweeteners or dairy products that can negate some of the benefits. Additionally, watch the caffeine content as too much caffeine can be bad for your teeth and gums.

Overall, green tea is a great way to improve oral health. It can reduce the risk of problems such as cavities, gum disease and bad breath while providing antioxidant protection. For best results, drink green tea that is organic and has no added sweeteners or dairy. By adding green tea to your daily drinking routine, you can enjoy the many oral health benefits.

7. It can improve digestion

Studies have shown that green tea can help the digestive system by promoting regularity and reducing bloating. Drinking green tea can help improve the balance of bacteria in your gut. This can help your body absorb more nutrients and reduce indigestion.

So if you're looking to improve your digestion, adding green tea to your diet is an easy and natural way to do it. Make sure to drink it regularly and stay hydrated to get all the benefits.

8- Calming the body:

In addition to catechins, green tea also contains other beneficial compounds such as theanine, which has a calming effect on the body and can help relieve stress. This can help reduce the symptoms of irritable bowel syndrome and other digestive problems.

9- Antioxidant and anti-aging:

The antioxidants in green tea can also help increase your metabolism, which can make it easier to digest food. In addition, the anti-inflammatory properties of green tea may be beneficial in reducing digestive problems caused by inflammatory diseases such as Crohn's disease. This is due to the antioxidant properties of green tea, which help reduce inflammation in the body. By reducing inflammation, green tea may help prevent age-related mental decline, improve memory, and reduce the risk of developing Alzheimer's disease and other neurological disorders.

Green tea is loaded with antioxidants and other compounds that can improve your gut health. One of the most beneficial compounds are catechins, which act as natural antibiotics. Catechins can help kill harmful bacteria and reduce inflammation in the digestive tract.

10- Boost Libido:

This very helpful to boost libido. It fasten circulation of blood in body which increase functionality of each organ of body.

Conclusion:

If one wants to get these amazing benefits, one should add 3-4 cups of green tea in the daily diet. If you have any critical medical condition, you should consult your doctor before starting this procedure.

in IMF deal, Pakistan agree, PKR 170 billion new taxes are to be imposed.

by m.a.sohail 

Federal Finance Minister Ishaq Dar (Ishaq Dar) says the government and the economic team are working hard on the deal. At the ninth review session, the IMF held a constructive discussion with Pakistan.

Briefing the media in Islamabad about the 9th Review Talks between Pakistan and the International Monetary Fund (IMF), Finance Minister Ishaq Dar said that the PTI government has signed an agreement with the IMF. , negotiations with the IMF mission were completed, the last round of negotiations with the IMF was yesterday, Thursday, February 9.

He announced that the last round of negotiations with the IMF was over, everything was mutually agreed and he asked the IMF to provide us with a Memorandum on Economic and Financial Policy (MEFP) document. Go ahead, once agreement is reached the IMF must be informed as per the procedure, the MEFP proposal was accepted this morning after talks with the IMF, now there will be a virtual meeting on Monday to move things forward. He will take it.

The government will have to raise taxes worth 170 billion rupees.

A mini-budget must be created to collect new taxes.

Loans based on the contract were increased by 70%.

Now we will see the questions of decree or law in this regard.

This 170 billion rupees is to be completed in this financial year.

The current government will continue the agreements made with the IMF.

Pakistan Prime Minister Mian Muhammad Shahbaz Sharif also assured the IMF of implementation. Pakistan to complete IMF program.

Finance Minister also said that it is our need to reduce electricity and gas losses, in last 5 years from 24th economy to 47th economy, now there is no ambiguity in things, we will try to make Pakistan in history. Complete the MMF program a second time.

In this regard, the Benazir Income Support Program budget will be increased from 360 billion to 400 billion rupees.

Revolving debt must also be zeroed out in the gas sector.

Efforts will be made to avoid directly burdening the poor.

They will follow what the cabinet decides.

We have achieved the petrol levy target which was up to 50 but the diesel levy will need to be increased.

On this occasion, he announced that Pakistan is expected to receive $1.2 billion after IMF review, the circular debt in the gas sector is also to be stopped, these targeted subsidies will be minimized, gas circulars. The data flow should also be reset.

IMF DEAL

Ishaq Dar said this is a program signed by Imran Khan government, it is an old agreement which has been postponed several times, we are trying our best to fulfill the agreement, prime minister for some reasons, Lahore. I was there, we had a zoom meeting, the government and the economic team are working hard on the deal.

The oil development fee on diesel will increase from 40 to 50, while the general sales tax numbers will also move back and forth. GST includes 170 billion in taxes.

To a question from LC, Ishaq Dar said that if five to seven billion dollars comes, all the business will start.

The levy on the prices of petroleum products will be increased by five rupees.

Sales tax is not collected on petroleum products.

1.2$ billion is expected 

7.8 Earth Quake in tarkiya and Syria, 500 people killed while thousands of injured.

 

Accordingly to details, A powerful 7.8-magnitude earthquake struck southeastern Turkey and Syria early Monday, toppling buildings and leaving at least 500 dead while thousands of injured, with the death toll expected to rise.

The earthquake, which was centered north of the city of Gaziantep, about 90 km from the Syrian border, left huge traces of destruction in both countries and was felt as far away as Cairo.

Turkish President Recep Tayyip Erdogan said on Twitter that search and rescue teams were immediately dispatched to the quake-hit areas.

"We hope to overcome this disaster together as soon as possible and with as little damage as possible," he wrote.

On the Syrian side of the border, the earthquake crushed opposition-held regions that are filled with several million displaced Syrians after years of war, with a dilapidated health care system. At least 11 were killed in one town, Atmed, and many more were buried in the rubble.

Statistics from various officials speak of at least 18 dead in Turkey and 13 in Syria. At least 150 buildings collapsed in Turkey's Malatya province, Governor Hulusi Sahin said.

The situation in Syria is "catastrophic", with many people trapped in the rubble, officials say

"I hope we can overcome this disaster together," Erdogan says

A 7.8-magnitude earthquake struck Turkey at 4:17 a.m. local time on Monday in the southeastern region near the Syrian border, the US Geological Survey said.

The picture shows that the epicenter of the earthquake was near the city of Gaziantep at a depth of 17.9 km and affected approximately seven provinces in Turkey and a large area in Syria.

What is INTERNATIONAL MONETARY FUND AND HOW IT WORKS?

by marana

What is INTERNATIONAL MONETARY FUND AND HOW IT WORKS?

The IMF stopped Pakistan's loan repayments and imposed strict tax collection demands on the government, which are now under negotiation. Talks between Pakistan and the International Monetary Fund (IMF) on reviving the seven-billion loan program have begun in Islamabad and will continue until February 9, 2023.

What is the international monetary fund IMF?

The IMF was established in 1944, while Pakistan became a member of the IMF on 11 July 1950.

The IMF is an international organization consisting of 190 member countries. All of these work together to stabilize the global economy. Any country can apply for membership by fulfilling the conditions. These requirements include information about the economy and the amount owed, called subscription quotas. The richer the country, the more money they have to pay for subscriptions. The IMF does three things to monitor and support the economy. : Monitoring economic and financial matters. It focuses on how the country is doing and what risks it faces, such as trade disputes following Brexit uncertainty in the UK and the economic impact of militant violence in Pakistan. Recommendations are given to member countries. How they can improve their economy. Short-term loans and financial aid to countries in need. These loans are made possible by the quota subscription of member countries.

The IMF has loans to member countries totaling $1 trillion for grant of Loans for to member’s countries for

What are the objectives of the IMF?

The IMF is often considered the "last resort" for securing loans. The IMF is the last hope of any country affected by an economic crisis. Harvard University economist Benjamin Friedman says it is difficult to determine the IMF's impact because it is impossible to know "whether its interventions will affect a country." Let things get better or worse and what could be the alternative.” “In 2002 Brazil received a loan from the IMF before defaulting on its debts. His government soon succeeded in reviving the economy and he paid off all his debts two years ago.

What is the criticism on the IMF?

The IMF sometimes imposes tighter loans on member countries that have been criticized as too harsh. These include reducing the national debt, reducing corporate taxes and strengthening the economy through foreign investment. When the European economic crisis hit in 2009, Greece was hit the hardest. In order to receive aid from the IMF, Greece had to make significant changes to its economy. Critics say the IMF's insistence on Greece's austerity policies has harmed both the country's economy and society.

Who is the head of the IMF?

Krista Lina Georgieva has been the Executive Director of the IMF since 2019. She was previously the Executive Director of the World Bank, replacing Christine Lagarde at the IMF, who is now the President of the European Central Bank. Krista Lina Georgieva is the poorest country in the European Union. The first head of the IMF from Bulgaria Since its inception, the IMF is usually headed by a European, while the World Bank is headed by an American. Krista Lina Georgieva warned before the annual conference that Brexit would be painful for both Europe and Britain.

Why was the IMF created?

The IMF was created as a result of the Bretton Wood Conference held in the United States in 1944. During World War II, 44 countries from around the world participated in this conference, including Great Britain, the United States, and the Soviet Union. At this conference, the world economy Along with the topics, the creation of a stable system of exchange rates and the recovery of the economy of war-affected European countries were also discussed. The World Bank and the IMF were created to fulfill these goals. IMF members agreed on a fixed exchange rate system to be maintained until 1970. The Executive Board approved a six billion dollar loan for Pakistan in July 2019. According to the history of the IMF program, Pakistan under military president Ayub Khan. had three programs from the IMF. Pakistan received four programs from the IMF during the first government formed under Prime Minister Zulfiqar Ali Bhutto.

When did Pakistan go to IMF under military president General Ziaul Haq?

According to the details available on the world organization's website regarding Pakistan's participation in IMF programs, Pakistan has had 23 programs with the IMF so far and the first program was decided in December 1958 under which Pakistan received two and a half million dollars. were given. . The deal was done. After that, the series of IMF programs continued to grow. The IMF Board last lent $1.1 billion to Pakistan under the Seventh and Eighth Expanded Fund Reviews in August 2022. It participated in both programs. During this period, Pakistan joined two IMF programs.

Pakistan joined the IMF program in the first government of former Prime Minister Nawaz Sharif.

During Benazir Bhutto's second term as Prime Minister, Pakistan joined three IMF programs, while during Nawaz Sharif's second term as Prime Minister, Pakistan joined two IMF programs. During the tenure of former military President Pervez Musharraf, there were two IMF programs, one program was under the People's Party government from 2008 to 2013, one program was from 2013 to 2018 under the Pakistan Muslim League and Nawaz government, and one program was under the Government of Pakistan. Tehreek-e-Insaaf Govt. . Pakistan joined the IMF program, which was continued by the Nawaz League coalition government after the fall of the Tehreek-e-Insaf government.

How does the IMF lend to a country?

First, a member country asks the IMF for financial assistance. The country's government and IMF staff discuss the economic and financial situation and the amount of the loan. Policies are agreed and then the IMF agrees to lend to the country. IMF conditionality refers to the policy measures a country must take in order to receive a loan. Presented to the board, but the system can be accelerated under emergency funding. The Executive Board approves the loan, and then the IMF monitors policy actions. When a country's economic and financial situation improves, the loan amount is returned to the IMF to be made available to other member countries.

Unlike development banks, the IMF does not lend for a specific project. Its purpose is to provide financial assistance to countries suffering from an economic crisis. Thus, economic stability and the implementation of production policies are ensured. An economic crisis in a country can be caused by a balance of payments crisis, where the country does not have enough money to repay its foreign debt. Can pay or buy imports. Otherwise, a financial crisis may occur due to a large deficit in its income and expenditure. According to the IMF, these crises can reduce productivity, increase unemployment, reduce incomes and create an atmosphere of insecurity. In the event of a serious crisis, the risk of default (bankruptcy) increases and debt restructuring becomes inevitable.