IMF staff approves $1 billion loan, $1.3 billion RSF for Pakistan

Pakistan has reached a staff-level agreement with the IMF, unlocking $1 billion under the Extended Fund Facility (EFF) and providing $1.3 billion under the Resilience and Sustainability Facility (RSF). The agreement, subject to IMF Executive Board approval, supports Pakistan’s efforts in building resilience to natural disasters and promoting climate adaptation, while also praising the country’s progress in restoring macroeconomic stability.

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UK retains ban on PIA over safety issues

The UK Department for Transport confirmed on Tuesday, that Pakistan International Airlines (PIA) will remain on its air safety list, thwarting hopes of an imminent return to British skies following a ban imposed in July 2020 over a fake pilot license scandal. Despite recent optimism after a British Air Safety Committee meeting and PIA’s resumption of flights to Europe in January, the department emphasized a “rigorous procedure” for lifting restrictions, with the UK Civil Aviation Authority still engaging Pakistani officials.

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NAB seeks UAE help to extradite property magnate Malik Riaz in land scam case

By Staff Reporter

ISLAMABAD: Pakistan’s anti-graft watchdog has launched extradition proceedings against property tycoon Malik Riaz Hussain and his son Ali Malik from the United Arab Emirates (UAE), invoking international anti-money laundering laws and the Vienna Convention, Dawn newspaper reported on Wednesday.

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