By Staff Reporter
RAWALPINDI: Denying a raise in the next fiscal’s defence budget, the military on Tuesday asserted, in view of the runaway inflation, their allocation shrank by Rs100 billion, a claim that on the face of it does not add up.
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Bilawal taps Iran for additional power import
By Staff Reporter
TEHRAN: Islamabad has tapped Tehran for import of additional electricity from Iran for Makran Division in Balochistan and broadening of bilateral economic relations, an official statement said on Tuesday.
Urgent shipment of Indonesian palm oil gets underway
By Staff Reporter
ISLAMABAD: All is set for Indonesia to send ten shiploads of palm oil to Pakistan on urgent basis, with the first ship ready to set sail for Karachi on Tuesday, according to a statement issued by the Prime Minister’s Office.
207 vs dollar: Rupee hits record low on IMF uncertainty
By Staff Reporter
KARACHI: The rupee hit a new record low against the US dollar in early Tuesday trade as the relentless surge in global crude oil prices raised concerns about a sustained rise in imported inflation, while a shortage of dollars threatens to spiral into a fullblown crisis.
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LAHORE:: A view of high voltage electric wires fell down on a Rickshaw at Garhi Shahu area in Provincial Capital. ONLINE PHOTO
Staggered Increase: ECC passes Rs7.91/unit power tariff hike
By Staff Reporter
ISLAMABAD: The Economic Coordination Committee (ECC) of the Cabinet on Monday consented to a hike of Rs 7.91/unit in the baseline power tariff on average, but in a staggered manner, starting from July 1, 2022.
Bailout Blues: IMF rejects budgetary measures as not enough
By Staff Reporter
ISLAMABAD: Pakistan will have to ‘do more’ to align the Budget 2022-23 with IMF’s requisites for the resumption of Extended Fund Facility (EFF) programme, a top fund official said on Monday.
Imran Khan alleges CEC in cahoots with PMLN
By staff reporter
ISLAMABAD: Former prime minister Imran Khan on Monday alleged that the Chief Election Commissioner (CEC) was rendezvousing with Hamza Shehbaz and Maryam Nawaz every week to take ‘special orders’ from them.
Pakistan targets a growth rate of 5pc next fiscal
By Staff Reporter
ISLAMABAD: Setting the economic targets for the next fiscal year, the National Economic Council (NEC) on Wednesday signed off on an economic growth rate of 5 percent, a consolidated public sector outlay of Rs2.184 trillion, flat compared to this fiscal’s Rs2.135 trillion, and an inflation rate of 11.5 percent.
Operational Issues: British Airways offs direct Pakistan’s flights for fortnight
By Staff Reporter
ISLAMABAD: British Airways on Tuesday suspended its direct flights from London’s Heathrow Airport to Islamabad owing to operational issues for fifteen days (June1-30).
Rupee Devaluation: Govt needs Rs165.2bn to pay foreign loans in FY22
By Staff Reporter
ISLAMABAD: The government direly needs Rs165.2 billion for servicing foreign loans during the outgoing fiscal year as the rupee has slumped to record low against the dollar.