By Staff Reporter
ISLAMABAD: Pakistan International Airlines (PIA) has leased its Roosevelt Hotel in New York City to the New York City Administration for three years for $220 million, a minister said Sunday.
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Khan claims military’s open attempt to crush PTI, expects army court trial, imprisonment
By News Desk
ISLAMABAD: Former Prime Minister Imran Khan again accused the country’s powerful military and its spy agency of ‘openly trying to destroy his political party’ and said he expected to be tried in a military court and jailed.
Pakistan targets 3.5 percent economic growth in FY24
By Staff Reporter
ISLAMABAD: Pakistan’s economic outlook for the next year appears promising, with a growth target of 3.5 percent set amidst expectations of political stability, improvements in the external account, and a steadfast macroeconomic environment.
Pakistan will not default, says finance minister amid IMF stalemate
By Staff Reporter
ISLAMABAD: Pakistan’s Finance Minister Ishaq Dar said on Saturday there was no technical reason for the delay in resuming a $6.5 billion International Monetary Fund (IMF) programme that has been stalled since November, and assured the country would not default on its debt obligations.
Illicit cigarettes make up half of Pakistan’s market, survey reveals
By Staff Reporter
ISLAMABAD: Nearly half of Pakistan’s cigarette market is dominated by illicit brands that evade taxes and sell below the minimum legal price, a survey by market research firm IPSOS showed on Friday.
Ogra approves gas price hike of up to 45pc for SNGPL, SSGCL
By Staff Reporter
ISLAMABAD: Oil and Gas Regulatory Authority (Ogra) on Friday approved gas price hikes of 40 percent and 45 percent for consumers of Sui Northern Gas Pipeline Limited (SNGPL) and Sui Southern Gas Company Limited (SSGCL), respectively, for the fiscal year 2023-24.
Pakistan approves barter trade mechanism with Afghanistan, Iran, Russia
By Staff Reporter
ISLAMABAD: Pakistan has approved a barter trade mechanism with Afghanistan, Iran and Russia to boost trade and help the country’s struggling economy, the commerce ministry said on Friday.
Pakistan’s inflation fastest in Asia for second month
By Staff Reporter
ISLAMABAD: Pakistan’s inflation hit another record high in May, making it Asia’s fastest for a second month, just days before the next fiscal budget is due to be unveiled in a country facing unprecedented economic challenges.
Chaudhry Parvez Elahi arrested in corruption probe
By Staff Reporter
LAHORE: Chaudhry Parvez Elahi, an aide to former Pakistani Prime Minister Imran Khan and the president of Khan’s Pakistan Tehreek-e-Insaf (PTI) party, was arrested on Thursday by the anti-corruption establishment with the help of police.
Pakistan says no ‘Plan B’ if IMF deal fails
By Staff Reporter
ISLAMABAD: Pakistan has no backup plan if the International Monetary Fund (IMF) does not resume its $6.5 billion loan program, which has been on hold since September last year due to differences in next fiscal year’s external financing needs of the country, a minister said on Thursday.