By Staff Reporter
KARACHI: The State Bank of Pakistan (SBP) on Thursday raised borrowing costs by 125 basis points to quell Asia’s second-fastest inflation and meet conditions for a loan from the International Monetary Fund (IMF).
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Should Pakistan replace SBP with a currency board?
By Ahmer Kureishi
June, the final month of the last fiscal year saw wholesale inflation in Pakistan rise to a historic high of 38.9 percent per annum, giving rise to fears that the flood of consumer price inflation is about to turn into a tsunami. Already at this point, the consumer price index was at 21.32 percent per annum.
Islamabad the Green: The metro of bus lines
Islamabad now has an impressive array of four bus lines, connecting all corners of the city to central sectors. By Staff Reporter ISLAMABAD: Islamabad Thursday
Diplomacy: FM Bhutto, US state secretary endorse ‘sustained engagement’
By Staff Reporter
ISLAMABAD: Foreign Minister (FM) Bilawal Bhutto Zardari on Wednesday invited the US to deepen trade and non-trade ties during a telephonic talk with US Secretary of State Antony Blinken, who called him to discuss matters of bilateral significance.
More rains, more deaths as floods across Pakistan set to worsen
By Staff Reporter
ISLAMABAD: The death toll from urban floods hammering many cities in Pakistan rose on Thursday as record torrential rainfall flooded streets and damaged homes and other buildings, with more rain expected during the week.
Bani Gala Firing: Man shot, wounded by PTI leader’s gunman
By Staff Reporter
ISLAMABAD: PTI leader Ali Amin Gandhapur’s gunman on Wednesday allegedly opened fire and wounded a young motorist for not letting the lawmaker’s security detail overtake him on a narrow road leading to Banigala House, former premier Imran Khan’s palatial residence, it is learnt.
#Metoo: Another woman claims harassed by former NAB chief
By Staff Reporter
ISLAMABAD: The Public Accounts Committee (PAC) has sent for former chairman National Accountability Board (NAB) Justice (retd) Javed Iqbal after one Tayyaba Gul accused him of harassing her, it is learnt.
Development: Ecnec passes Rs395.8 billion projects
By Staff Reporter
ISLAMABAD: The Executive Committee of the National Economic Council (ECNEC) on Wednesday approved various infrastructure projects costing Rs395.8 billion, including the Hyderabad-Sukkur Motorway, a statement said on Wednesday.
Closing in on IMF loan: Provinces to ink surplus revenue MoUs shortly
By Staff Reporter
ISLAMABAD: The provinces have consented to sign a Memorandum of Understanding (MoU) to generate a revenue surplus of Rs750 billion this fiscal year to narrow the federal budget deficit to 4.9 percent of the GDP (gross domestic product) as demanded by the IMF, it is learnt.
Islamabad: Federal Minister for Finance and Revenue Mr. Miftah Ismail presided over meeting of the Economic Coordination Committee (ECC) of the Cabinet at Finance Division- 28-05-2022.
Subsidy on 5 essential commodities to continue
By Staff Reporter
ISLAMABAD: A powerful cabinet committee Wednesday decided to continue a federal subsidy program on five essential commodities, announced by Prime Minister Shehbaz Sharif in the final weeks of the last fiscal and commonly known as the prime minister’s relief package.