ISLAMABAD: Security forces killed eight militants on Tuesday in a sweeping operation launched after an ambush that left five police officers dead in a remote, gas-rich area of northwestern Pakistan, officials said, as the country grapples with a sharp rise in attacks along its volatile border with Afghanistan.
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IFC backs Engro Fertilisers with Rs33.6 billion local-currency guarantee
KARACHI: The International Finance Corp. has made its first local-currency investment in Pakistan, extending a credit guarantee to back financing for a major fertilizer producer in a move aimed at shoring up the country’s vital agriculture sector.
Pakistan enters top arms export league with $4bln Libya deal
ISLAMABAD: Pakistan has sealed a weapons deal worth more than $4 billion with the Libyan National Army, one of the largest arms sales in the country’s history, thrusting Islamabad into a select group of nations exporting conventional military hardware despite a longstanding United Nations embargo on Libya, Reuters reported.
ECC approves largest spectrum auction to pave way for 5G rollout
ISLAMABAD: The Economic Coordination Committee of the cabinet on Tuesday approved plans for its biggest-ever spectrum auction, setting the stage for the country’s first commercial 5G services and aiming to ease chronic internet congestion that has hampered the economy.
Trump again praises army chief, Calls Field Marshal Munir ‘highly respected’
ISLAMABAD: President Trump again praised Pakistan’s top military leader, Field Marshal Syed Asim Munir, as a “highly respected general,” the latest in a string of compliments that underscore a striking thaw in relations between Washington and Islamabad during his administration.
PM Sharif offers talks to jailed Imran Khan’s party but rules out pressure tactics
ISLAMABAD: Prime Minister Shehbaz Sharif on Tuesday renewed his invitation for talks with the opposition Pakistan Tehreek-e-Insaf party, insisting that dialogue could proceed only on legitimate issues and warning against any attempts at blackmail, as political tensions continued to roil the country amid deepening economic woes and polarization.
PIA sale heads to open auction as two bidders clear price bar, Arif Habib-led group tops at Rs115bn
ISLAMABAD: A consortium led by Arif Habib Corp. submitted the top bid of Rs115 billion for a controlling stake in Pakistan International Airlines, edging out a group spearheaded by Lucky Cement Ltd. with an offer of Rs101.5 billion, as the government pushed ahead with a long-delayed effort to privatize the debt-laden flag carrier.
Pakistan draws three bids for struggling national carrier in high-stakes privatisation push
ISLAMABAD: Three groups submitted bids to acquire a controlling stake in Pakistan International Airlines Corp. Ltd., the debt-laden flag carrier, in what the government touted as the nation’s largest-ever privatisation deal and a key plank of its economic overhaul under an International Monetary Fund bailout.
Lahore High Court suspends Punjab property ordinance, cites risk of arbitrary seizures
LAHORE: The Lahore High Court on Monday suspended a contentious new law aimed at resolving provincial property disputes, warning that it undermined judicial authority and could lead to arbitrary seizures of land, even from powerful figures.
Saudi Arabia awards top honor to Pakistan’s military chief, signaling closer strategic ties
ISLAMABAD: Saudi Arabia’s defence minister, Prince Khalid bin Salman bin Abdulaziz, has awarded Pakistan’s chief of defence forces, Field Marshal Asim Munir, the King Abdulaziz Medal of Excellent Class, recognising his role in bolstering ties between the two nations.