By Staff Reporter
ISLAMABAD: Prime Minister Shehbaz Sharif said on Sunday his government would hand over power to an interim setup before term expires next month, as he prepares for a general election that could see his party return to power.
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Pakistan criticises Afghanistan for violating Doha agreement, hosting TTP militants
By Staff Reporter
ISLAMABAD: Pakistan’s defense minister on Saturday sharply criticized Afghanistan for “neglecting its duties as a neighboring and fraternal country” and for violating key provisions of the peace deal signed with the Taliban in Doha last year, especially its pledge to prevent the use of Afghan territory for terrorist activities.
Petrol price down by Rs9, diesel by Rs7
By Staff Reporter
ISLAMABAD: The government reduced the prices of gasoline and diesel for the next two weeks, citing the appreciation of the local currency and lower international oil prices.
Pakistan army expresses ‘serious concerns’ over TTP sanctuaries in Afghanistan
By Staff Reporter
ISLAMABAD: Pakistan’s army said on Friday it had serious concerns about the presence and activities of the banned Tehreek-i-Taliban Pakistan (TTP) militant group in Afghanistan and it urged the interim Afghan government to prevent its soil from being used for terrorism against any country.
IMF bailout comes with a price: 20 percent increase in power tariff
By Staff Reporter
ISLAMABAD: Pakistan’s electricity regulator approved a 20 percent hike in the base power tariff for the fiscal year starting July 1, as the South Asian nation implements reforms agreed with the International Monetary Fund in the recently approved $3 billion loan program.
Pakistan gets $5.6 billion in new financing after IMF loan: Bloomberg
By Staff Reporter
ISLAMABAD: Pakistan secured $5.6 billion in additional financing from bilateral and multilateral partners after getting a $3 billion loan from the International Monetary Fund (IMF), the fund’s mission chief said on Friday.
Pakistan’s new IMF loan to anchor economic stabilisation – official
By Staff Reporter
ISLAMABAD: Pakistan’s new $3 billion loan program from the International Monetary Fund (IMF) will anchor its immediate efforts to stabilize the economy and meet its balance of payments needs, a senior IMF official said.
PM Sharif to step down in August, sets stage for polls
By Staff Reporter
ISLAMABAD: Prime Minister Shehbaz Sharif said he will hand over power to a caretaker government in August, paving the way for national elections that could end the political turmoil that has gripped the country since the ouster of his predecessor Imran Khan last year.
World Bank approves $100 million to increase family planning in Punjab
By Staff Reporter
ISLAMABAD: The World Bank approved a $100 million program to increase the use of family planning services in Punjab, Pakistan’s most populous province, as part of its efforts to reduce poverty and improve human capital.
Manufacturing sector shrinks for 11th straight month
By Staff Reporter
ISLAMABAD: Pakistan’s large-scale manufacturing (LSM) sector contracted 14.37 percent in May, its 11th consecutive monthly decline, as high costs, currency devaluation and political turmoil weighed on the industry, official data showed on Thursday.