By Staff Reporter
ISLAMABAD: Pakistan’s central bank warned on Friday that the country’s banking sector faces a number of challenges as the economy slows down and borrowers struggle to repay their debts.
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Pakistanis protest against Holy Quran burning in Sweden, call for boycott and envoy’s expulsion
By Staff Reporter
ISLAMABAD: Pakistanis staged nationwide protests on Friday against the burning of the Quran in Sweden, demanding the expulsion of the Swedish envoy and a boycott of Swedish goods, as the government declared a day of reverence for the Muslim holy book.
Pakistan’s Supreme Court welcomes second female judge
By Staff Reporter
ISLAMABAD: Pakistan’s Supreme Court welcomed its second female judge on Friday as Justice Mussarat Hilali, a former chief justice of the Peshawar High Court and a human rights activist, took the oath of office.
World Bank gives $46 million to boost health and services in Pakistan
By Staff Reporter
ISLAMABAD: The World Bank approved a $46 million loan to Pakistan to improve health and administrative services in the Khyber Pakhtunkhwa province, where the government is trying to integrate the former tribal areas into the mainstream.
IMF seeks Pakistan political parties’ backing for $3 billion bailout
By Staff Reporter
ISLAMABAD: The International Monetary Fund (IMF) is reaching out to Pakistan’s main political parties, including the one led by ousted Prime Minister Imran Khan, to secure their support for a new $3 billion bailout program ahead of national elections.
Pakistan compliant on SBA prior actions
The country is counting on the $3 billion program to turn around its ailing economy, grunting under the hefty foreign debt service burden accumulated over the years. By Muhammad Ali.
Dar sets the ball rolling on Aviation revamp, PIA restructuring
PM Sharif’s economy czar has ordered authorities to prepare legislation proposals to oil the wheels of the Aviation sector, in addition to seeking a presentation on PIA restructuring, to strengthen the flimsy with international aviation. By Muhammad Ali.
India snubbed as International court rules it can arbitrate Pakistan’s hydropower dispute
By Staff Reporter
ISLAMABAD: An international court ruled on Thursday that it could hear a dispute between India and Pakistan over two hydropower projects in the Himalayan region of Kashmir, rejecting India’s objections to its competence.
SBP reserves rise by $393 million, helped by China refinancing
By Staff Reporter
KARACHI: Pakistan’s foreign exchange reserves held by the central bank rose by $393 million to $4.462 billion in the week ending June 30, helped by the receipt of official inflows and the refinancing of $1.3 billion in Chinese commercial loans.
Pakistan approves Rs18.036 billion for telecom development funds
By Staff Reporter
ISLAMABAD: Pakistan’s IT and Telecom Minister Syed Amin ul Haque approved on Thursday the annual budgets of two state-owned funds that support the development of the telecom sector and innovation projects.