By Staff Reporter
The State Bank of Pakistan raised its benchmark interest rate by 100 basis points to 17 percent on Monday as inflation remains elevated, and the central bank says that there will be no letup in flight to tame inflation.
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Pakistan suffers major power outage
By Staff Reporter
ISLAMABAD: A major power outage hit cities and towns on Monday, including the capital Islamabad and the commercial hub Karachi, due to a fault in transmission lines, officials said.
Media mogul Naqvi sworn in as Punjab caretaker CM
By Naveed Naqvi
ISLAMABAD: The Election Commission of Pakistan (ECP) on Sunday appointed Syed Mohsin Raza Naqvi as the caretaker chief minister of Punjab province after a bi-partisan parliamentary committee failed to reach a consensus on the candidate within the stipulated time.
Punjab lawmakers fail to agree on interim chief minister before new polls
Meanwhile, the Khyber Pakhtunkhwa government and the opposition have agreed to appoint former bureaucrat Mohammad Azam Khan as KP’s caretaker chief minister.
Speaker accepts resignations of 35 more PTI lawmakers
By Naveed Naqvi
Islamabad: Another 35 lawmakers of former prime minister Imran Khan’s Pakistan Tehreek-e-Insaf (PTI) party lost their membership in Parliament on Friday after their resignations were accepted by the speaker of the National Assembly.
Pakistan could see first Russian oil supplies in March
By Naveed Naqvi
ISLAMABAD: Russia on Friday agreed to supply crude oil and oil products to Pakistan, with technical details of the deal to be finalized by March and Islamabad will pay for the imports in currencies of ‘friendly countries’, officials of both the countries said.
UAE rolls over $2bn deposit with Pakistan’s central bank
Central bank governor Jameel Ahmad said the country will see dollar inflows in the coming days after funding commitments from the Middle East.
Current account shrinks in first-half on weak imports
By Staff Reporter
KARACHI: Pakistan’s current account (C/A) deficit narrowed sharply in the first half of the current fiscal year amid dollar shortages in the country to fund imports of goods, central bank data showed on Wednesday.
Pakistan FDI plunges 59pc to $461m in July-Dec
By Staff Reporter
KARACHI: Foreign direct investment in Pakistan plunged 59 percent in the first six months of fiscal 2022/23 as the country’s economic crisis bit into capital inflows, according to data released by the central bank on Wednesday.
Resignations of 35 lawmakers of PTI accepted
By Naveed Naqvi
ISLAMABAD: The Election Commission of Pakistan (ECP) on Tuesday de-notified 35 lawmakers belonging to former prime minister Imran Khan’s Pakistan Tehreek-e-Insaf (PTI) party after National Assembly’s speaker Raja Pervez Ashraf accepted their long-pending resignations.