ISLAMABAD: The government has drastically curtailed funding for new development projects, limiting allocations to just 2 percent of the Public Sector Development Programme (PSDP) for the current fiscal year, a move driven by stringent conditions tied to the International Monetary Fund’s Extended Fund Facility (EFF), officials disclosed during a Senate committee briefing on Friday.
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Pakistan signals historic shift toward Armenia, deepens ties with China amid regional tensions
ISLAMABAD: Pakistan is exploring the establishment of diplomatic relations with Armenia, Deputy Prime Minister and Foreign Minister Ishaq Dar said on Friday, signaling a potential realignment in Islamabad’s regional strategy.
FBR faces revenue shortfall amid floods, targets Rs1.44 trillion in September
The Federal Board of Revenue (FBR) is grappling with a revenue shortfall in August 2025, collecting Rs886 billion against a target of Rs950 billion, a deficit of Rs64 billion, as severe floods disrupt economic activity across the country.
PTI boycotts Punjab by-elections, sounds alarm on Imran Khan’s health
ISLAMABAD: Former prime minister Imran Khan’s Pakistan Tehreek-e-Insaf (PTI) has reaffirmed its boycott of Punjab’s upcoming by-elections, ordering all members and candidates to withdraw nomination papers immediately.
Pakistan blasts embankments to save millions as India’s dam releases worsen historic flood crisis
ISLAMABAD: Desperate to save millions from raging floodwaters, authorities have blasted embankments to divert rivers from Jhang and Multan, evacuating over 429,000 people as India’s dam releases worsen a disaster intensified by New Delhi’s earlier suspension of a critical water-sharing treaty.
Pakistan battles catastrophic floods as India’s treaty halt, barrage failure swell rivers to 40-year highs
LAHORE: As floodwaters crept toward Lahore’s fringes on Friday, Pakistani officials pointed fingers across the border, blaming India for amplifying a catastrophic deluge through its suspension of a critical river-sharing treaty and the failure of gates on a key barrage that unleashed uncontrolled torrents downstream.
ECC approves Rs40bln plan to wind down loss-making Utility Stores Corp
The Economic Coordination Committee (ECC) of the cabinet on Thursday greenlit a roughly Rs40 billion plan to wind down the state-run Utility Stores Corporation (USC), a once-profitable retailer that has haemorrhaged funds for over a decade.
Pakistan postpones revenue-sharing talks as Sindh faces flood threat
By Staff Reporter ISLAMABAD: Pakistan delayed the first meeting of the 11th National Finance Commission (NFC), the country’s revenue distribution body, on Thursday after Sindh
PM Sharif vows fresh push for Basha, Momin and small dams amid flood devastation
ISLAMABAD: Prime Minister Shehbaz Sharif on Thursday called for urgent construction of reservoirs and dams as swollen rivers devastated the breadbasket province of Punjab, where at least 17 people have been killed and hundreds of thousands evacuated this week.
Punjab battles worst floods in 40 years, with downstream peril looming in Sindh
ISLAMABAD: With the Chenab River poised to unleash up to 800,000 cubic feet per second of water in the next two days, Pakistani officials in Punjab have evacuated more than a quarter-million people from flood-stricken areas, where monsoon rains and releases from Indian dams have already devastated farmland, drowned 17 residents, and impacted 1.46 million in the province’s deadliest inundation in decades.