ISLAMABAD: Finance Minister Muhammad Aurangzeb on Wednesday called for a gradual rebalancing of the country’s financial system, urging capital markets to take on a bigger role alongside banks in funding economic growth while pressing lenders to prepare for potential fallout from escalating Middle East tensions.
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Islamabad High Court fines anti-corruption NAB for delays in Imran Khan graft appeal
ISLAMABAD: The Islamabad High Court on Wednesday imposed a 100,000-rupee fine on the National Accountability Bureau, sharply rebuking the country’s premier anti-corruption agency for what the bench described as “delaying tactics” in the long-running £190 million Al-Qadir Trust corruption case against former prime minister Imran Khan and his wife, Bushra Bibi.
Bahrain arrests six South Asian expatriates over social media posts on Iran conflict
ISLAMABAD: Bahrain’s authorities have arrested six Asian expatriate workers, including five Pakistanis, accusing them of filming, publishing and reposting videos that the government says show the effects of Iranian military action and amount to glorification of attacks on the kingdom.
‘Leave that to the state’: Pakistan urges caution in coverage of Gulf tensions, invoking constitutional curbs on expression
ISLAMABAD: The law minister called on the country’s media Tuesday to tread carefully in discussing the nation’s foreign policy, warning that loose talk and speculation amid the escalating conflict between Iran, the United States and Israel risk unsettling key diplomatic partners and crossing constitutional boundaries.
Pakistan remittances rise 5.2 percent to $3.29 billion in February
KARACHI: Remittance inflows to Pakistan rose 5.2% in February to $3.29 billion, State Bank of Pakistan data showed Tuesday, offering continued support to the nation’s external accounts and household spending.
Pakistan raises $507 million in spectrum auction, sets stage for 5G rollout
ISLAMABAD: Pakistan sold 480 megahertz of spectrum for $507 million in a live auction Tuesday, clearing the way for the country’s long-delayed shift to 5G networks and promising faster, cheaper mobile data in one of the world’s largest telecom markets by population.
Pakistan rejects reports of delegation to Kabul, insists no talks with Taliban until militants are curbed
ISLAMABAD: Pakistani officials on Tuesday categorically rejected reports that a three-member government delegation had traveled to Kabul for negotiations with the Afghan Taliban, dismissing the claims as fabricated propaganda spread by Afghan accounts on social media.
Pakistan bolsters fuel reserves with new imports cargoes amid war-driven supply crunch
KARACHI: Pakistan is replenishing its fuel supplies with the arrival of diesel and petrol cargoes as the country grapples with global shortages triggered by conflict disrupting shipments through the Strait of Hormuz.
Schools shutter, ministers skip salaries and courts go virtual: Pakistan’s nationwide push to weather the fuel crunch
ISLAMABAD: The provincial Sindh government and judiciary moved swiftly on Tuesday to slash fuel consumption and government spending, closing schools for spring break, ordering four-day workweeks and cutting official perks as the country braces for disruptions from the widening Middle East conflict.
Pakistan demands unconditional Israeli withdrawal from Lebanon as war displaces nearly 700,000 and kills hundreds
ISLAMABAD: The Foreign Office on Tuesday issued its sharpest condemnation yet of Israel’s military operations in Lebanon, accusing Tel Aviv of violating international law, indiscriminately targeting civilians and undermining Beirut’s efforts to restore stability in a conflict that has already displaced nearly 700,000 people and killed hundreds.