By Staff Reporter
ISLAMABAD: The government on Thursday cut petrol (motor gas) price to pass on a decline in global prices to inflation-hit consumers.
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Saudi Arabia extends $3bln deposit term to Pakistan
By Staff Reporter
KARACHI: Saudi Arabia extended the term of a $3 billion deposit it made to Pakistan’s foreign reserves, the central bank said on Friday.
Saudi crown prince visit to Pakistan postponed
By Staff Reporter
ISLAMABAD: Saudi Crown Prince Mohammed bin Salman’s visit to Pakistan has been postponed while the new dates for his trip to the country would be mutually finalized by both sides.
Police book lone shooter in gun attack on Imran Khan
By Staff Reporter
ISLAMABAD: Punjab police booked lone shooter Naveed Mohammad Basheer as the prime accused in a failed assassination attempt on former prime minister Imran Khan, ignoring names of the three top officials who Khan had accused of hatching a plot to assassinate him.
Power division gears up to deploy funds for Chinese IPPs to secure CPEC
By Staff Reporter
ISLAMABAD: The government has approved the setting up of the Pakistan Energy Revolving Fund (PERF) to repay outstanding dues worth Rs300 billion to Chinese Independent Power Producers (IPPs), a day ahead of Prime Minister Shehbaz Sharif’s scheduled visit to Beijing.
ECC approves import of 800,000 tons of wheat
By Staff Reporter
ISLAMABAD: The Economic Coordination Committee (ECC) on Friday approved the import of 800,000 tons of wheat through the Trading Corporation of Pakistan (TCP) as the country’s existing strategic food stockpiles are running out.
Pakistan is out of FATF grey monitoring list
By Staff Reporter
ISLAMABAD: The Financial Action Task Force (FATF) a global money laundering and terrorism financing watchdog, on Friday removed Pakistan from its gray monitoring list after four years.
Pakistan likely to exit FATF grey list after four years
By Staff Reporter
ISLAMABAD: Pakistan is set to see its name off the grey list of the Financial Action Task Force (FATF) after it was found to be compliant in the action plan set out by the global financial watchdog.
Current account deficit shrinks on weak imports in first quarter
By Staff Reporter
KARACHI: The current account deficit narrowed sharply in the first quarter of the current fiscal year amid a decline in imports, which is being driven by slowing domestic demand as the central bank aggressively tightens monetary policy in recent months to tame runaway inflation.
World Bank pledges $2 billion for flood-ravaged Pakistan
By Staff Reporter
ISLAMABAD: The World Bank said it will provide about $2 billion in aid to Pakistan, ravaged by floods that have killed more than 1,700 people this year.