By Staff Reporter
KARACHI: Pakistan’s central bank said on Thursday it had fined six banks a total of Rs350.8 million for failing to comply with rules on anti-money laundering, customer due diligence and other areas.
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China rolls over $2.4 billion loan to Pakistan for two years
By Staff Reporter
ISLAMABAD: China has agreed to defer principal payments on loans worth $2.4 billion to Pakistan for two years, Finance Minister Ishaq Dar said on Thursday, a boost for the cash-strapped country as it tries to rebuild its foreign currency reserves.
Pakistan warns India to ‘exercise caution’ after LoC crossing threat
By Staff Reporter
ISLAMABAD: Pakistan on Wednesday denounced the “provocative remarks” made by India’s defence minister, who said he was ready to cross the Line of Control (LoC) that divides the disputed Kashmir region, and urged India to “exercise utmost caution”.
Power consumers to pay more for June fuel cost adjustment
By Staff Reporter
ISLAMABAD: Pakistan’s power regulator on Wednesday approved additional charges of up to Rs2.31 per unit for electricity consumers to cover the fuel cost adjustment (FCA) for June, a day after announcing a steep hike in base tariffs, Dawn newspaper reported on Thursday.
Pakistan’s top court rejects Imran Khan’s plea to halt graft case
By Staff Reporter
ISLAMABAD: Pakistan’s Supreme Court on Wednesday rejected a plea by former prime minister Imran Khan to stop a lower court from proceeding with a corruption case against him involving gifts from foreign dignitaries.
IMF bailout helps Pakistan narrow fiscal deficit, boost growth
By Staff Reporter
ISLAMABAD: Pakistan’s fiscal deficit is expected to narrow to 5.5 percent of gross domestic product (GDP) in the fiscal year ending June 2024, from 7.9 percent a year earlier, as the government curbs non-interest spending and boosts revenue collection, the finance ministry said on Wednesday.
Pakistan gives more powers to interim government ahead of polls
By Staff Reporter
ISLAMABAD: Pakistan’s parliament passed a bill on Wednesday to amend the country’s election law, giving more powers to the caretaker government that will oversee the next general election due in November.
Opposition, allies thwart govt’s bid to empower caretaker setup
By Staff Reporter
ISLAMABAD: The coalition government postponed its plan to grant sweeping powers to the caretaker administration for the upcoming elections, after facing stiff resistance from opposition and allied parties in a joint session of parliament on Tuesday.
Opposition leader Riaz rejects Ishaq Dar as caretaker PM, dismisses urgency of elections
By Staff Reporter
ISLAMABAD: Pakistan’s toothless opposition leader Raja Riaz on Tuesday ruled out Finance Minister Ishaq Dar as a potential caretaker prime minister and said there was no urgency for elections in the country
PTI’s Khan faces arrest for contempt of election regulator
By Staff Reporter
ISLAMABAD: Pakistan’s election commission ordered the arrest of former Prime Minister Imran Khan on Monday, accusing him of contempt for failing to appear before the regulator despite repeated notices and warrants.