ISLAMABAD: Prime Minister Shehbaz Sharif on Monday ordered an extension of Pakistan’s stringent nationwide austerity program until June 13, prolonging a series of fuel-conservation and spending cuts imposed in March to shield the import-dependent economy from the fallout of soaring global oil prices.
Latest
Pakistan warns Afghanistan of ‘decisive’ response after suicide bombing kills 15 police officers in northwest
ISLAMABAD: Pakistan’s Foreign Office summoned Afghanistan’s chargé d’affaires on Monday and delivered a strong diplomatic protest over a suicide bombing that killed 15 police officers in the northwestern district of Bannu, accusing Afghan-based terrorists of masterminding the assault and reserving the right to retaliate.
Trump says Iran ceasefire is ‘on life support’ after rejecting Tehran’s terms as ‘garbage’
ISLAMABAD: President Donald Trump said on Monday that the tenuous ceasefire with Iran is “on life support” and “unbelievably weak,” a stark assessment delivered as the two sides traded fire over the weekend and Tehran formally rejected a US proposal to end the two-month-old conflict.
Pakistan IT exports seen hitting record $4.6 billion this year as digital push accelerates
ISLAMABAD: Prime Minister Shehbaz Sharif was briefed on Monday that Pakistan’s information-technology exports are projected to hit $4.5 billion to $4.6 billion in the current fiscal year, the Prime Minister’s Office said, underscoring the government’s focus on expanding one of the country’s most dynamic sources of foreign exchange.
Pakistan April remittances dip 7.6 percent month-on-month but rise 11.4 percent year-on-year
KARACHI: Pakistan received $3.54 billion in workers’ remittances in April, a 7.6% decline from the previous month but an 11.4% increase from a year earlier, according to data released on Monday by the State Bank of Pakistan.
Pakistan cuts Gwadar Port fees to lure transit traffic as Hormuz tensions divert ships
ISLAMABAD: Minister for maritime affairs announced reductions in tariffs at Gwadar Port on Monday, trimming fees for container vessels and offering a month of free storage in a bid to capture more global transit and transshipment business amid disruptions in the Strait of Hormuz.
Karachi police hunt suspects after thieves steal 25 goats worth Rs1.9 million ahead of Eid al-Adha
KARACHI: Police in this sprawling port city are searching for three or four men who stole 25 goats valued at more than Rs1.9 million from an empty plot in the Gulistan-e-Jauhar neighborhood, the latest in a string of thefts targeting animals bought for sacrifice during Eid al-Adha.
Pakistan issues glacial flood alerts across northern mountains as rains loom; heat wave grips south
ISLAMABAD: Authorities issued urgent alerts for glacial lake outburst floods in the rugged northern regions of Khyber Pakhtunkhwa and Gilgit-Baltistan, where an incoming weather system is forecast to bring heavy rain to vulnerable mountain valleys and heighten the risk of sudden, catastrophic flooding.
Pakistan weighs tax relief for salaried class as it holds off on pay and pension increases – report
ISLAMABAD: The government is preparing to reduce the income-tax burden on salaried individuals in the upcoming federal budget while leaving salaries and pensions unchanged, a step aimed at extending comparable fiscal relief to workers in both the public and private sectors, Dawn newspaper reported on Monday.
Trump rejects Iranian counteroffer on ending Persian Gulf war, as fragile ceasefire faces fresh tests
ISLAMABAD: President Donald Trump on Sunday dismissed Iran’s formal response to the latest US proposal for ending the war in the Persian Gulf as “TOTALLY UNACCEPTABLE,” delivering a sharp setback to diplomatic efforts aimed at reopening the Strait of Hormuz and halting a conflict that has disrupted global energy markets and tested a month-old ceasefire.