By Staff Reporter
ISLAMABAD: The government on Thursday cut fuel prices to give relief to inflation-hit consumers as global oil prices fall, the prime minister said.
Top Stories
IMF and Pakistan reach staff-level agreement on $1.77 billion loan
By Staff Reporter
ISLAMABAD: The International Monetary Fund (IMF) and Pakistan have reached a staff-level agreement on the seventh and eight reviews of the Fund’s $ billion bailout programme that will allow for a disbursement of $1.177 billion, the IMF said on Wednesday.
Govt plans fuel price cut to win political reprieve
By Staff Reporter
KARACHI Pakistan’s fragile coalition government is all set to cut fuel prices, a move likely to ensure, for now, much needed political popularity at the cost of vital economic reforms.
5 dead in Karachi caught between heavy rains and high tide
By Staff Reporter
ISLAMABAD: At least five people died of rain related causes on Monday as Pakistan’s most populous city Karachi continued to struggle with some of the worst wet weather conditions – and as the Met warned the conditions might continue for at least 24 more hours.
Monsoon rains kill dozens more, leave thousands homeless in southern Pakistan
By Staff Reporter
KARACHI South and southwestern Pakistan that have been drenched in rain for days, braced for more heavy downpours on Saturday as the death toll from flooding across the country rose to over 120 while thousands were left marooned or homeless in low-lying areas, officials said.
Pakistan central bank is ahead of the curve, acting Governor says
Monitoring Desk
KARACHI: State Bank of Pakistan Acting Governor Murtaza Syed discussed monetary policy and the outlook for the economy. The central bank on Thursday raised borrowing costs more than expected to quell Asia’s second-fastest inflation and meet conditions for a loan from the International Monetary Fund. Syed speaks on “Bloomberg Markets: Asia.” (Courtesy: Bloomberg)
Pakistan’s LNG tender receives no offers
By Staff Reporter
KARACHI: Pakistan LNG Limited (PLL) did not receive a single offer in a $1 billion LNG import tender for 10 spot cargos for July to September deliveries, sources said.
Weekly inflation slows, but annual rate jump keeps pressure on govt
By Staff Reporter
ISLAMABAD: Weekly SPI inflation eased to 1.32 percent from 3.63 percent, but a rise in prices from a year earlier on higher food and energy costs adds to the miseries facing common Pakistanis.
Diplomacy: FM Bhutto, US state secretary endorse ‘sustained engagement’
By Staff Reporter
ISLAMABAD: Foreign Minister (FM) Bilawal Bhutto Zardari on Wednesday invited the US to deepen trade and non-trade ties during a telephonic talk with US Secretary of State Antony Blinken, who called him to discuss matters of bilateral significance.
More rains, more deaths as floods across Pakistan set to worsen
By Staff Reporter
ISLAMABAD: The death toll from urban floods hammering many cities in Pakistan rose on Thursday as record torrential rainfall flooded streets and damaged homes and other buildings, with more rain expected during the week.