By Staff Reporter
ISLAMABAD: Caretaker government said on Friday it will increase gas prices for all consumers, a move that could add to the economic hardship of millions of people and stoke inflation that’s already near 30 percent.
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Pakistan looks to delay repayment of foreign deposits to ease reserve pressure
By Staff Reporter
ISLAMABAD: Pakistan’s interim government is seeking to extend the maturity of deposits from other countries that are due to expire soon, as it tries to manage its dwindling foreign exchange reserves and revive the economy.
Inflation rate drops for third month, defying price hikes
By Staff Reporter ISLAMABAD: Pakistan’s inflation rate fell for the third straight month in August, reaching its lowest level since January, official data showed on
Rupee collapse spurs record fuel price hike
By Staff Reporter
ISLAMABAD: The caretaker government raised the prices of petrol and diesel by up to 6.3 percent on Thursday, citing a surge in global oil prices and a weak rupee that pushed the cost of fuel beyond 300 rupees per litre for the first time in history.
PM Kakar seeks IMF nod for power bill relief amid protests
By Staff Reporter
ISLAMABAD: Interim Prime Minister Anwaarul Haq Kakar said Thursday his government was working on options to tackle the issue of inflated power bills without deviating from its agreements with multilateral institutions, amid widespread protests and public anger over the soaring electricity tariffs.
Suicide bomber kills nine soldiers in Bannu district
By Staff Reporter
ISLAMABAD: A suicide bomber on a motorcycle blew himself up near a military convoy in the northwestern Bannu district on Thursday, killing nine soldiers and wounding five others, the army said.
Minister Ahktar says IMF deal leaves Pakistan with no room to ease electricity bills
By Staff Reporter
ISLAMABAD: Interim Finance Minister Shamshad Akhtar warned on Wednesday that the country’s economic situation was worse than expected and the caretaker government had no room to provide subsidies as it faced rising inflation and public anger over soaring electricity bills.
Caretaker government seeks IMF approval for power bill relief
By Staff Reporter
ISLAMABAD: Interim government is in talks with the International Monetary Fund (IMF) to secure its consent for a package of relief measures for electricity consumers, who have been hit hard by a sharp hike in power tariffs.
Court suspends Khan’s gifts conviction, but remains in jail over cipher case
By Staff Reporter
ISLAMABAD: Former prime minister and opposition leader Imran Khan won a reprieve from a three-year prison sentence on Tuesday, when the Islamabad High Court suspended his conviction in a corruption case involving state gifts.
Nawaz Sharif to return to Pakistan in October, says brother
By Staff Reporter
ISLAMABAD: Former prime minister Nawaz Sharif, who has been living in self-exile in London since 2019, plans to return to Pakistan in October to lead his party’s election campaign, his younger brother and fellow ex-premier Shehbaz Sharif said on Friday.