By Staff Reporter
ISLAMABAD: The Islamabad High Court on Tuesday ruled that the jail trial of former Prime Minister Imran Khan, who is accused of possessing a classified diplomatic cable, was illegal and ordered his transfer to a regular court.
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ADB lends Pakistan $250 million for power transmission project
By Staff Reporter
ISLAMABAD: The Asian Development Bank (ADB) on Friday approved $250 million in loans that will help deliver reliable electricity in Pakistan by expanding and improving the power transmission network in the country’s Punjab and Khyber Pakhtunkhwa provinces.
FM Akhtar says Pakistan can’t manage without IMF support
By Staff Reporter ISLAMABAD: Pakistan will need a new short-term loan from the International Monetary Fund (IMF) to cope with its fragile economy and may
Jail trial for ex-PM Khan over land bribery case
By Staff Reporter
ISLAMABAD: The government on Tuesday approved the trial of former prime minister Imran Khan in jail over allegations that he received land worth millions of dollars as a bribe from a property developer through a charity trust run by his third wife, a spiritual healer.
SIFC, with military role, faces IMF’s scrutiny
By Staff Reporter
ISLAMABAD: Pakistan’s newly created Special Investment Facilitation Council (SIFC) to attract foreign investors has come under scrutiny from the International Monetary Fund (IMF), which has advised the country to avoid creating distortions or preferential treatment in its business deals, Dawn newspaper reported on Wednesday.
Pakistan and Afghanistan discuss trade and assets amid deportation row
By Staff Reporter
ISLAMABAD: Afghanistan’s acting commerce minister met with Pakistan’s foreign minister in Islamabad on Tuesday to discuss trade and how the thousands of Afghan citizens Pakistan is expelling could take cash and other assets back to their homeland.
PTI loses another senior leader as Asad Umar announces exit from politics
By Staff Reporter
ISLAMABAD: Asad Umar, a former planning minister and a senior leader of the opposition Pakistan Tahreek-e-Insaf (PTI) party, announced on Saturday that he was quitting politics and leaving the party, citing policy differences over its confrontational stance toward state institutions.
Pakistan taps Ernst & Young to lead PIA sale by January 2024
By Staff Reporter
ISLAMABAD: The Privatization Commission (PC) said on Friday that it had approved the appointment of a British consortium led by Ernst & Young as the financial adviser for the privatization of the loss-making Pakistan International Airlines (PIA) by the end of January 2024.
Stocks soar above 55,000 points, defy gravity
By Staff Reporter
KARACHI: Stocks soared to a new record high on Friday, crossing the 55,000 level for the first time, as investors anticipated a cut in the policy rate and welcomed the progress in the talks with the International Monetary Fund (IMF).
Remittances rise to seven-month high of $2.5bn in October
By Staff Reporter
KARACHI: Remittances increased to a seven-month high of $2.5 billion in October, up 12 percent from the previous month and 10 percent from a year ago, as migrant workers sent more money home through legal banking channels, central bank data showed on Friday.