By Staff Reporter
KARACHI: Former finance minister Shaukat Tarin said on Friday he was quitting politics for good, citing health and financial reasons, in a latest blow to Pakistan Tahreek-e-Insaf (PTI) party that has faced a wave of defections and arrests.
By Staff Reporter
KARACHI: The World Health Organization on Thursday issued an alert about several contaminated syrups and suspension medicines manufactured by a Pakistani company that have been found in countries in the WHO regions.
By Staff Reporter
KARACHI: Pakistan secured a date for the final approval from the International Monetary Fund to receive the next $700 million tranche from its current loan program, a spokeswoman said on Thursday, as the country faces Asia’s highest inflation and a looming debt crisis ahead of a crucial election.
By Staff Reporter
KARACHI: Pakistan’s economy is poised to rebound from a contraction in the current fiscal year and expand 2.1 percent in 2024, aided by easing supply bottlenecks, lower interest rates, and continued support from the International Monetary Fund, according to a Bloomberg economist.
By Staff Reporter
ISLAMABAD: The power regulator on Tuesday increased electricity tariffs by 39 percent for October 2023 to recover Rs32 billion from consumers under a monthly fuel adjustment mechanism.
By Staff Reporter
KARACHI: The Asian Development Bank (ADB) has approved three projects worth $658.8 million to help Pakistan achieve its goal of more inclusive and sustainable growth and development, the bank said on Wednesday.
By Staff Reporter
ISLAMABAD: The finance ministry said it released Rs17.4 billion to the country’s election commission, removing a hurdle for the national vote scheduled for Feb. 8 amid security challenges.
By Staff Reporter
ISLAMABAD: Pakistan’s electricity regulator has accused the country’s power distribution companies of overcharging customers by as much as 100 percent, in a report that exposed widespread malpractices and over-billing in the power sector.
By Staff Reporter
ISLAMABAD: Pakistan is waiting for the International Monetary Fund (IMF) to approve the first review of its $3 billion Standby Arrangement (SBA) and release the second tranche of $700 million, but the IMF’s executive board is unlikely to take up the case until mid-December.
By Staff Reporter
ISLAMABAD: The government awarded six onshore oil and gas exploration blocks to local and foreign companies on Friday, but four other blocks received no bids despite an extension of the deadline, the Petroleum Division said.
