By Staff Reporter
ISLAMABAD: The large-scale manufacturing sector contracted by 1.9 percent year-on-year during the first eight months of the 2024-25 fiscal year (July-February), driven by steep declines in food, chemicals, and construction-linked industries, provisional data from the Pakistan Bureau of Statistics (PBS) showed on Tuesday.
By Staff Reporter
Fitch Ratings lifted Pakistan’s Long-Term Foreign-Currency Issuer Default Rating to ‘B-’ from ‘CCC+’, with a Stable Outlook, signalling cautious hope for economic stabilisation via a $7 billion IMF Extended Fund Facility and $1.3 billion Resilience Facility.
By Staff Reporter
ISLAMABAD: The government has decided against lowering local petroleum prices despite a recent drop in global oil prices, opting instead to channel the savings into major infrastructure projects in Balochistan, the Prime Minister’s House said on Tuesday.
By Staff Reporter
ISLAMABAD: Global ratings agency Fitch on Tuesday upgraded Pakistan’s foreign currency credit rating to ‘B-’ from ‘CCC+’, a move signaling growing economic stability as the country slashes budget deficits and implementing structural reforms under a IMF bailout programme. The outlook is stable.
By Staff Reporter
ISLAMABAD : Four Pakistani nationals were among 11 migrants whose bodies were recovered after a vessel sank off Libya’s eastern Harawa coast, Foreign Office said on Tuesday, the latest in a series of deadly migrant shipwrecks involving citizens attempting perilous Mediterranean Sea crossings.
MASTUNG: A roadside bomb killed three policemen and wounded at least 16 others in southwestern Balochistan province on Tuesday, officials said, the latest attack in a surge of violence linked to separatist militants targeting security forces.
By Staff Reporter
ISLAMABAD: A US-manufactured M4A1 carbine rifle, shipped to Afghanistan in 2018, was recovered in Pakistan last month following a militant train hijacking that killed 26 people, Pakistani officials said, highlighting how American military gear abandoned after the 2021 withdrawal fuels regional instability, The Washington Post reported on Monday.
ISLAMABAD: The International Monetary Fund (IMF) is intensifying pressure on Pakistan to tackle a Rs7 trillion tax shortfall and judicial inefficiencies, critical steps to shore up its shaky economy.
By Staff Reporter
ISLAMABAD: The top court on Monday refused to block the appointment of Justice Sardar Muhammad Sarfraz Dogar as acting chief justice of the Islamabad High Court (IHC), deferring a decision on contentious judicial seniority disputes until days before a high-stakes meeting to confirm top judges nationwide.
By Staff Reporter
A critical anti-tax evasion initiative in the tobacco sector remains stalled in the mountainous region of Azad Jammu & Kashmir (AJK) despite years of planning, multiple deadlines, and urgent warnings about the growth of illicit cigarette production costing the national exchequer over Rs 300 billion annually.
