By Staff Reporter
KARACHI: Pakistan received $1 billion from China on Friday as a refinancing of a loan that it paid off earlier this week, easing the country’s debt burden as it faces a looming expiry of an IMF bailout programme.
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Cyclone Biparjoy hits India, Pakistan coasts
By Staff Reporter
KARACHI: Cyclone Biparjoy pounded the coasts of India and Pakistan with howling winds and heavy rain on Thursday evening, forcing more than 175,000 people to flee their homes and cutting power in some areas.
Sindh braces for cyclone Biparjoy
By Staff Reporter
KARACHI: Cyclone Biparjoy is expected to hit the southeast coast of Pakistan’s Sindh province and the Indian state of Gujarat on Thursday evening, bringing heavy rain and strong winds to the region, the Pakistan Meteorological Department (PMD) said on Wednesday.
Cyclone Biparjoy weakens but still threatens Sindh coast
By Staff Reporter
KARACHI: Thousands of people were evacuated from coastal areas of Sindh province on Tuesday as Cyclone Biparjoy moved closer to land, weakening into a very severe cyclonic storm from extreme but still packing winds of up to 170 km per hour (105 mph).
Pakistan pays for Russian crude in Chinese currency
By News Desk
ISLAMABAD: Pakistan paid for its first government-to-government import of discounted Russian crude oil in Chinese yuan, petroleum minister said on Monday, a significant shift from its dollar-dominated export payments policy, Reuters reported on Monday.
Extremely severe cyclone Biparjoy to hit Pakistan-India coast on June 15
By Staff Reporter
KARACHI: A cyclone that intensified into an extremely severe storm on Sunday is likely to hit the coast between Karachi in Pakistan and Gujarat in India on June 15, weather officials said.
Pakistan receives first shipment of Russian crude oil
By Staff Reporter
KARACHI: Pakistan received its first shipment of Russian crude oil on Sunday under a new deal that aims to diversify its oil import sources and secure discounted rates from Moscow.
APP02-100623
ISLAMABAD: June 10 - Finance Minister Senator Mohammad Ishaq Dar addresses the Post Budget press conference at Ministry of Planning. APP/SAK/ABB
Dar says Pakistan to seek debt relief from bilateral lenders
By Staff Reporter
ISLAMABAD: Pakistan will ask some of its bilateral creditors to ease its debt repayment terms, Finance Minister Ishaq Dar said on Saturday, as the country faces uncertainty over completing an International Monetary Fund (IMF) bailout program that expires this month.
Pakistan’s economy shrinks, misses all targets in dismal 2023
By Staff Reporter
ISLAMABAD: Pakistan’s economy suffered through a dismal year in 2022-23, with all its macroeconomic targets falling short of expectations due to a stalled International Monetary Fund (IMF) program, restricted imports, severe floods, and political turmoil.
Military vows to tighten noose around planners of May 9 violence
By Staff Reporter
ISLAMABAD: Pakistan’s top military brass vowed on Wednesday to tighten the “noose of law” around the “planners and masterminds” of the May 9 violence that erupted after the arrest of former prime minister Imran Khan.