By Staff Reporter
KARACHI: Pakistan’s electricity generation costs fell to the lowest level in a year as cheaper coal and increased hydropower output offset lower demand amid high tariff and economic slowdown.
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Govt assures no death penalty for May 9 violence suspects
By Staff reporter
ISLAMABAD: The government assured the country’s top court on Friday that it would not execute any civilians if convicted by military tribunals for their role in the violence that erupted on May 9 after the arrest of former prime minister Imran Khan on corruption charges.
Dar says no new taxes on agriculture, construction sectors
By Staff Reporter
ISLAMABAD: Finance Minister Ishaq Dar said the government won’t impose any new taxes on the agriculture and construction industries, dismissing media reports that suggested otherwise.
Pakistan’s foreign borrowing falls 37 percent in fiscal 2023
By Staff Reporter
ISLAMABAD: Pakistan’s external borrowing fell 37 percent to $10.8 billion in the fiscal year 2022/23, the lowest level in four years, as a stalled IMF programme reduced access to foreign loans from commercial banks and friendly countries, official data showed on Friday.
Pakistan urges Russia to restore Black Sea grain deal
By Staff Reporter
ISLAMABAD: Pakistan said on Thursday it would work to restore a vital Black Sea grain deal that Russia scrapped last week, warning that the move threatened global food security and hurt developing countries.
Fuel retailers plan shut down over profit margins
By Staff Reporter
KARACHI: Fuel retailers plan to shut down their pumps across the country from Saturday, demanding a higher profit margin from the government.
PTI Khan stands by cipher claim, says ex-secretary may have been coerced
By Staff Reporter
ISLAMABAD: Former prime minister Imran Khan on Thursday dismissed a statement attributed to his ex-aide that he had fabricated a document to accuse his rivals of a foreign plot to oust him, saying he would not believe it unless he heard it from him.
Pakistan to sell Karachi Port Terminal to Abu Dhabi Ports
By Staff Reporter
ISLAMABAD: Pakistan plans to sell the bulk and general cargo terminal at Karachi Port’s East Wharf to Abu Dhabi Ports, the second such deal in less than a year, as the cash-strapped nation seeks to raise funds and improve its infrastructure.
Pakistan must keep raising policy rate to fight inflation, IMF says
By Staff Reporter
ISLAMABAD: The International Monetary Fund has urged Pakistan to continue its monetary tightening cycle to rein in inflation and support the exchange rate, after approving a new $3 billion loan for the country last week.
‘Suspected suicide’ attack injures six near security forces vehicle in Peshawar
By Staff Reporter
ISLAMABAD: A suspected suicide bomber struck near a security forces vehicle in Peshawar’s Hayatabad area on Tuesday, injuring at least six people, police and local media said.