By Staff Reporter
KARACHI: A cyclone that intensified into an extremely severe storm on Sunday is likely to hit the coast between Karachi in Pakistan and Gujarat in India on June 15, weather officials said.
Politics
Rainstorm wreaks havoc in Pakistan’s northwest, 25 killed
By Naveed Naqvi
ISLAMABAD: A violent rainstorm killed 25 people, including seven children, and injured many more in Pakistan’s northwestern Khyber Pakhtunkhwa province on Saturday, officials said.
Pakistan’s budget aims for growth under IMF scrutiny
By Staff Reporter
ISLAMABAD: Pakistan unveiled a budget on Friday that aims to boost economic growth to 3.5 percent in the next fiscal year, while keeping the budget deficit below 7 percent to meet the conditions of an International Monetary Fund (IMF) bailout program.
Pakistan’s economy shrinks, misses all targets in dismal 2023
By Staff Reporter
ISLAMABAD: Pakistan’s economy suffered through a dismal year in 2022-23, with all its macroeconomic targets falling short of expectations due to a stalled International Monetary Fund (IMF) program, restricted imports, severe floods, and political turmoil.
Military vows to tighten noose around planners of May 9 violence
By Staff Reporter
ISLAMABAD: Pakistan’s top military brass vowed on Wednesday to tighten the “noose of law” around the “planners and masterminds” of the May 9 violence that erupted after the arrest of former prime minister Imran Khan.
World Bank forecasts for 2pc growth in Pakistan’s economy in FY24 fall short of govt’s target
By Staff Reporter
KARACHI: Pakistan’s economy is expected to grow by 2 percent in the next fiscal year, well below the government’s target of 3.5 percent, as the country struggles with the lasting effects of last year’s floods, high inflation and policy uncertainty, the World Bank said on Tuesday.
NEC approves 8 pm shop closure to save energy, traders oppose
By Staff Reporter
ISLAMABAD: The National Economic Council (NEC) on Tuesday approved an energy conservation plan that will require shops and commercial centers to close by 8pm starting from July 1.
ECC approves hike in prices of 49 medicines
By Naveed Naqvi
ISLAMABAD: The Economic Coordination Committee (ECC) of the cabinet on Friday approved a hike in prices of 49 medicines, while also approving a grant of more than Rs21.95 billion for dealing with natural calamities and other projects.
Prime Minister Sharif hopeful of finalising IMF deal in June
By News Desk
ISLAMABAD: Prime Minister Shehbaz Sharif said he was hopeful of finalising a deal with the International Monetary Fund (IMF) in June, as the country grapples with a crippling economic crisis.
Khan claims military’s open attempt to crush PTI, expects army court trial, imprisonment
By News Desk
ISLAMABAD: Former Prime Minister Imran Khan again accused the country’s powerful military and its spy agency of ‘openly trying to destroy his political party’ and said he expected to be tried in a military court and jailed.