By Staff Reporter
KARACHI: The foreign exchange reserves climbed to the highest level in four months, bolstered by official inflows from lenders and allies, easing pressure on the country’s balance of payments.
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‘Debt burden and inflation weigh on Pakistan’s economy’
By Staff Reporter
ISLAMABAD: The finance ministry said on Wednesday that the country faced a persistent challenge of high debt payments, as the government’s current spending soared by 44 percent in the first four months of the fiscal year, driven by a surge in interest costs.
Pakistan tests new missile system with 400-km range
By Staff Reporter
ISLAMABAD: Pakistan on Wednesday announced that it had successfully tested a new missile system, Fatah-II, that can hit targets up to 400 kilometers away with high precision.
PTI Qureshi roughed up by police, detained in new case after bail in cipher case
By Staff Reporter
ISLAMABAD: A former foreign minister and key ally of former prime minister Imran Khan was arrested again on Wednesday, shortly after he was freed on bail in a case involving alleged leaks of state secrets.
Interim govt resists ECP’s orders to remove top cops in capital
By Staff Reporter
ISLAMABAD: The interim government on Tuesday defied the Election Commission of Pakistan’s (ECP) orders to remove two top officials in the capital over charges of political meddling, citing security concerns ahead of the general elections in February.
Government borrows more than double from banks despite IMF, bilateral loans
By Staff Reporter
KARACHI: The government has borrowed more than twice as much from banks in the first half of the current fiscal year as it did in the same period last year, as it struggles to cope with soaring inflation and debt servicing costs, central bank data showed.
Exports surge 33pc in December, boosting trade balance
By Staff Reporter
ISLAMABAD: The trade sector posted a significant improvement in the first 20 days of December, with exports rising by 33.1 percent and imports falling by 12.8 percent year-on-year, the Ministry of Commerce said.
Stocks suffer worst fall in history as investors flee amid political chaos and IMF fears
By Staff Reporter
KARACHI: Stocks plunged more than 4 percent on Tuesday, posting their biggest single-day drop in history, as investors dumped shares amid political uncertainty and reports of a possible IMF intervention in the country’s circular debt crisis.
Court bats for Khan’s party, blocks ECP’s verdict on symbol
By Staff Reporter
ISLAMABAD: A high court in Pakistan on Tuesday blocked a decision by the country’s election commission that had declared the internal elections of the party, led by Prime Minister Imran Khan, as unconstitutional and stripped it of its ‘bat’ symbol.
Record number of candidates vie for parliament seats
By Staff Reporter
ISLAMABAD: Pakistan is gearing up for a historic general election on February 8, with a record number of 28,626 candidates vying for 1,085 seats in the national and provincial assemblies.