ISLAMABAD: Hundreds of air travellers, including many Umrah pilgrims bound for Saudi Arabia, were stranded at three major airports on Monday night after aircraft engineers at Pakistan International Airlines staged a walkout, delaying at least six flights and bringing international operations to a near halt.
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Muslim nations condemn Israeli ceasefire breaches in Gaza, urge troop withdrawal
ISLAMABAD: Foreign ministers from Muslim nations, including Pakistan on Monday condemned what they described as Israeli violations of a fragile cease-fire in Gaza, calling for the immediate withdrawal of Israeli forces from occupied Palestinian territories and the urgent delivery of humanitarian aid to ease the deepening crisis there.
Three militants, including two Afghans, killed in KP operations – army
ISLAMABAD: Security forces have killed at least three militants in two separate engagements in the northwestern province of Khyber Pakhtunkhwa, the military said Monday, highlighting what it described as continued involvement by Afghan nationals in attacks inside Pakistan.
Competition watchdog calls for dedicated steel ministry to fix distortions in Pakistan’s steel sector
ISLAMABAD: The Competition Commission of Pakistan is pushing for a dedicated steel ministry and a national policy to tackle longstanding distortions in the country’s steel industry, including weak regulation, unfair tax exemptions and heavy reliance on imports.
Pakistan nears cashless economy with 88 percent of retail payments now digital
KARACHI: Digital payments made up 88% of retail transactions in Pakistan during the fiscal year that ended in June, the central bank said on Monday, as the government accelerates efforts to digitize its $400 billion economy.
October inflation quickens to 6.2 percent, highest in a year, as floods, border closures bite
ISLAMABAD: Pakistan’s consumer price inflation accelerated to 6.2% in October from a year earlier, the highest reading in 12 months, as flood-related supply disruptions and temporary border closures with Afghanistan pushed up prices of essential commodities.
FM Aurangzeb says economy stabilised as reforms take hold
ISLAMABAD: Pakistan’s economy has entered a stabilisation phase, with the government advancing structural reforms in taxation, energy, privatisation and digitalisation to drive sustainable and inclusive growth, Finance Minister Muhammad Aurangzeb said on Monday.
Pakistan military says only total elimination of terrorism from Afghanistan acceptable
ISLAMABAD: Pakistan’s military on Monday dismissed conditions set by Afghanistan in recent border talks as irrelevant, emphasising that only the complete elimination of terrorism from Afghan soil would satisfy Islamabad, amid escalating tensions marked by cross-border skirmishes and accusations of harboring militants.
Pakistan opens major maritime expo to tap ‘blue economy’ potential
KARACHI: Planning minister on Monday inaugurated a major international maritime exposition in the southern port city of Karachi, calling the country a “natural maritime bridge” between East and West and urging greater investment in an underdeveloped sector that he said could unlock billions in economic potential.
Pakistan needs deeper trade deals, flexible currency to revive exports, World Bank says
ISLAMABAD: Pakistan must revamp its lopsided trade pacts with 10 bilateral partners, adopt a market-driven exchange rate and slash energy and other input costs to reverse more than three decades of slumping exports and underpin lasting economic growth, according to the World Bank.