KARACHI: Saudi Arabia agreed to roll over a $3 billion deposit held with Pakistan’s central bank for another year, providing a boost to the cash-strapped South Asian nation’s foreign exchange reserves amid ongoing economic pressures.
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Govt bars Imran Khan’s sister from jail visits over rule violations
ISLAMABAD: The government on Thursday barred Uzma Khanum, sister imprisoned former prime minister Imran Khan and others from the opposition Pakistan Tehreek-e-Insaf party, from further meetings with the party’s imprisoned founder, citing violations of prison rules during a recent visit that included prohibited political discussions.
Field Marshal Munir named Pakistan’s first chief of defence forces as military structure is overhauled
ISLAMABAD: President Asif Ali Zardari on Thursday signed off on the summary to appoint Chief of the Army Staff Field Marshal Asim Munir as the country’s first chief of defence forces, a newly created post that consolidates military authority and extends the army chief’s tenure amid a sweeping reorganisation of the country’s armed forces command structure.
Pakistan rejects reports linking US weapons suspect to Islamabad, calling him Afghan
ISLAMABAD: The government on Thursday pushed back against media reports identifying a man arrested in Delaware last week with a cache of weapons and plans for an attack as being of Pakistani origin, insisting instead that he was Afghan and had spent only a few years in Pakistan as a refugee before moving to the United States.
Pakistan eases border restrictions to allow humanitarian aid into Afghanistan
ISLAMABAD: After nearly two months of a near-total halt in cross-border cargo movement, Pakistan has begun clearing humanitarian consignments destined for Afghanistan, officials said, marking the first controlled reopening of transit trade since routine operations were suspended in October.
Pakistan plans live broadcast of PIA privatisation bidding on Dec. 23
ISLAMABAD: Pakistan will hold bidding for the privatisation of the national airline on Dec. 23, with the process to be broadcast live on media outlets, Prime Minister Shehbaz Sharif said, marking the government’s most aggressive push in decades to offload the debt-laden carrier.
Punjab lifts 18-year ban on kite flying, reviving Basant under tight new rules
LAHORE: After an 18-year prohibition that stemmed from deadly accidents involving razor-sharp kite strings, the Punjab government on Tuesday lifted its ban on kite flying, paving the way for the revival of the ancient Basant festival under a stringent new regulatory framework.
Lawmakers slam govt after IMF flags deep governance flaws
ISLAMABAD: Lawmakers sharply rebuked the government on Wednesday for what they described as systemic failures in combating corruption, citing a scathing new assessment from the International Monetary Fund that laid bare weaknesses across state institutions, from the judiciary to tax authorities.
Oil industry rebuffs regulator’s tight deadline for costly Rs60 billion digital mandate
ISLAMABAD: The oil companies are pushing back against a government mandate to digitally integrate more than 32,000 fuel storage tanks, depots and petrol pumps within six to 12 months, citing prohibitive costs of as much as Rs60 billion and a lack of any plan to recover the expense.
Pakistan business confidence jumps to multi-year high despite tax, inflation risks
KARACHI: Pakistan’s business sentiment has surged to its highest level in years, with confidence jumping 11 percentage points to 22%, even as executives flagged persistent hurdles like taxation, inflation and corruption that threaten to derail growth.