By Naveed Naqvi
ISLAMABAD: The Supreme Court of Pakistan on Wednesday ruled that elections for the provincial assemblies in Punjab and Khyber Pakhtunkhwa must be held within 90 days as mandated by the Constitution.
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Armed militants attack police compound in Karachi
By Staff Reporter
KARACHI: A group of armed militants attacked Karachi police headquarters on Friday, as paramilitary troops and police rushed to stave off the attack in the city’s high security zone amid an uptick in terror targets across the country.
Dar tables IMF-backed mini-budget to raise Rs170bln additional in taxes
By Staff Reporter
ISLAMABAD: The government on Wednesday tabled a money bill in parliament to raise Rs170 billion in taxes by June this year as part of conditions by the International Monetary Fund (IMF) to revive a stalled $6.5 billion loan program.
Fitch downgrades Pakistan’s Issuer Default Rating to CCC-
By Staff Reporter
KARACHI: Fitch on Tuesday cut Pakistan’s sovereign credit rating by a notch to CCC- from CCC+, citing policy risks, critically low reserves and large refinancing risks, and difficult conditions set by the International Monetary Fund (IMF).
Gas prices raised to unlock IMF funding
By Staff Reporter
ISLAMABAD: The government approved a plan to increase domestic gas prices to meet a key condition set by the International Monetary Fund for reviving its bailout program as the two sides resume talks virtually on Monday to reach a deal.
PM Sharif says IMF giving tough time on bailout loan
By Staff Reporter
ISLAMABAD: Minister Shehbaz Sharif said on Friday the International Monetary Fund is giving Pakistan a difficult time in negotiations amid negotiations with the International Monetary Fund as the country battles an unprecedented economic crisis.
Forex reserves sink to 18 days worth of import cover
By Staff Reporter
KARACHI: Foreign exchange reserves have fallen to $3.09 billion, its lowest levels since February 2014, after paying off some of the country’s external debt, the central bank said on Thursday.
Former interior minister Sheikh Rashid Ahmed arrested
By Naveed Naqvi
ISLAMABAD: Sheikh Rashid Ahmed, former interior minister and a close ally of Imran Khan was arrested in the early hours of Thursday, officials said.
Soaring food prices push January inflation to 48-year high
By Staff Reporter
ISLAMABAD: A biggest jump in food prices pushed Pakistan’s inflation a 48-year high in January in a new blow for households grappling with a cost-of-living crisis in the cash-strapped country.
Court grants bail to Fawad Chaudhry in sedition case
By Staff Reporter
ISLAMABAD: A court on Wednesday granted bail to senior Pakistan Tehreek-e-Insaf (PTI) leader Fawad Chaudhry in a sedition case and ordered his release.