KARACHI: The private sector borrowing from banks accelerated to a 15.4% year-on-year gain in August, the strongest pace in months, as declining government debt needs freed up liquidity and lower interest rates spurred demand across industries from textiles to autos.
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Factory output surges 8.99 percent in July on textile export boom
ISLAMABAD: The large-scale manufacturing (LSM) sector expanded at its fastest pace in over a year, climbing 8.99% in July from a year earlier, fueled by a robust textile sector that saw exports soar 32% to $1.68 billion.
Pakistan, 15 nations urge protection of Gaza aid flotilla
ISLAMABAD: Foreign ministers from Pakistan and 15 other nations on Tuesday called for the protection of a Gaza-bound humanitarian flotilla, expressing concerns over potential Israeli attacks on the vessels as they approach the blockaded Palestinian enclave.
IHC voids telecom regulator chief’s appointment, orders immediate removal
ISLAMABAD: The Islamabad High Court ordered the immediate removal of the chairman of the state telecoms regulator on Tuesday, ruling his appointment illegal and tainted by procedural flaws.
Pakistan pulls out of pre-match media briefing as handshake row with India escalates
LAHORE: The Pakistan Cricket Board (PCB) on Tuesday scrapped a pre-match press conference ahead of its Asia Cup clash with the United Arab Emirates, as a dispute over a handshake snub during Sunday’s Pakistan-India match intensified.
Rights lawyer presses Supreme Judicial Council with fresh complaint against IHC chief
ISLAMABAD: A prominent human rights lawyer filed an addendum on Tuesday with the Supreme Judicial Council, intensifying her misconduct complaint against the chief justice of the Islamabad High Court, accusing him of abusing his authority to derail an investigation into her claims of workplace harassment after he threatened her with contempt proceedings and made remarks about “getting a hold of her.”
IHC sidelines Justice Jahangiri over alleged fake law degree
ISLAMABAD: The Islamabad High Court on Monday barred Justice Tariq Mahmood Jahangiri from judicial duties pending a Supreme Judicial Council ruling on allegations that his law degree is fraudulent, a decision that intensifies scrutiny of Pakistan’s judiciary at a time of heightened tensions over its independence.
PIA posts first half-year profit in two decades ahead of privatization push
KARACHI: Pakistan International Airlines (PIA), the country’s state-owned carrier, reported its first pre-tax profit for the first half of a year since 2004, a milestone that bolsters Islamabad’s efforts to privatise the airline as part of a $7 billion International Monetary Fund bailout agreement.
Finance ministry rebuts debt concerns, says sustainability improved
ISLAMABAD: The finance ministry on Tuesday dismissed concerns over a nearly Rs9 trillion surge in public debt, asserting that the country’s debt trajectory is “more sustainable today than suggested by headline rupee figures.”
PM Sharif to meet Trump at UN in New York: reports
ISLAMABAD: Prime Minister Shehbaz Sharif is expected to meet US President Donald Trump on the sidelines of the UN General Assembly in New York on September 25, a move seen as a significant step in strengthening ties between Islamabad and Washington, local media reported on Tuesday.