By Staff Reporter
ISLAMABAD: The lower house of parliament will choose a new prime minister on Sunday, the assembly’s secretariat said on Thursday, after a tumultuous first session that was marred by protests from supporters of the former prime minister Imran Khan, who is in jail on corruption charges.
By Staff Reporter
ISLAMABAD: The finance ministry said on Thursday that high interest rates and limited fiscal space were hampering the country’s economic recovery, as it projected inflation to ease slightly in the coming months.
The government has imposed a 200 percent increase in the Federal Excise Duty (FED) on tobacco products, ostensibly to raise revenue. But this policy has backfired, as it has severely damaged the legitimate tobacco industry while fueling the growth of the illicit trade.
By Staff Reporter
ISLAMABAD: China has agreed to roll over a $2 billion loan to Pakistan on existing terms, after initially seeking a higher interest rate, as the South Asian nation struggles to maintain its foreign exchange reserves amid mounting debt payments, local media reported on Thursday.
By Staff Reporter
ISLAMABAD: Pakistan’s President Dr. Arif Alvi on Thursday summoned a session of the newly elected parliament, ending weeks of uncertainty and criticism over his delay in convening the lawmakers.
By Staff Reporter
ISLAMABAD: Pakistan’s former prime minister Nawaz Sharif on Wednesday endorsed his brother Shehbaz Sharif as the best choice to lead the country amid multiple challenges, a day before the new parliament is due to be sworn in following a disputed election.
By Staff Reporter
ISLAMABAD: The party of former prime minister Imran Khan urged the International Monetary Fund (IMF) to withhold any financial assistance to the country until an independent audit into alleged election fraud is completed.
By Staff Reporter
KARACHI: The Bank of America Corp (BofA) upgraded its outlook for Pakistan’s dollar bonds, citing reduced political uncertainty and potential credit rating upgrades.
By Staff Reporter
ISLAMABAD: Pakistan’s newly elected lawmakers will take their oaths on Feb. 29, ending weeks of uncertainty and deadlock after a fractured general election that left no party with a clear majority in the lower house of parliament.
By Staff Reporter
KARACHI: Moody’s Investors Service said on Tuesday that it had kept Pakistan’s ratings unchanged at Caa3 with a stable outlook, but warned of material default risks if the country failed to secure timely funding from the International Monetary Fund (IMF) and other partners.
