ISLAMABAD: Pakistan will implement its commitments to a newly formed multinational maritime coalition “in full earnest”, the Foreign Office said on Wednesday, hours after confirming that three Pakistani sailors had been killed in a Houthi missile strike on a commercial vessel in the Red Sea.
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Pakistan car sales nearly double from year ago in July
KARACHI: Pakistan’s automobile industry opened its new fiscal year with the strongest July on record, as sales nearly doubled from a year earlier on the back of new market entrants, fresh product launches and easier access to auto financing.
Qatari LNG cargo reaches Pakistan after Iran grants safe Hormuz passage
KARACHI: A liquefied natural gas tanker chartered by QatarEnergy docked in Pakistan on Monday, capping a three-week ordeal that saw the vessel idle in the Persian Gulf, get turned back once from the Strait of Hormuz, and ultimately require direct intervention from Islamabad to reach port.
Pakistan’s government debt climbs to record 83.6 trillion rupees
KARACHI: Pakistan’s central government debt rose to a record 83.642 trillion rupees at the end of June, as the government leaned more heavily on domestic borrowing to plug its budget gap, according to data released Tuesday by the State Bank of Pakistan.
Pakistan advances airport privatization, adds two power utilities to sale pipeline
ISLAMABAD: Pakistan moved forward Tuesday with plans to outsource its two busiest airports and expand its power-sector privatization program, as the country presses ahead with an overhaul of state assets amid efforts to shore up public finances.
New forensic tests add evidence but little clarity on gunshot wounds in Mir Raza Ali murder case
KARACHI: Investigators examining the murder of the young Karachi entrepreneur Mir Raza Ali have received a chemical examiner’s report and the results of a DNA test, but say the findings are not yet conclusive enough to point the investigation in a clear direction, sources close to the case said.
Pakistan cuts petrol prices, raises diesel as Hormuz standoff drags on
The government lowered the retail price of petrol while raising the cost of high-speed diesel on Tuesday, the latest adjustment since authorities scrapped weekly fuel-price reviews in favor of daily ones — a shift officials have linked to the volatility gripping oil markets since the war between the US and Iran broke out in February.
Two Pakistanis among three killed in missile strike on cargo ship in Bab al-Mandeb
ISLAMABAD: At least four crew members — three of them Pakistani — were killed and several others wounded on Tuesday when a cargo vessel carrying food supplies came under missile fire in the Bab al-Mandeb Strait, in what would be the first fatal Houthi strike on shipping since the war between Iran and Israel erupted in February.
Pakistan says US and Iran are nearing Hormuz deal — but Trump, Tehran dig in over compensation
ISLAMABAD: Pakistan believes the United States and Iran are edging towards an agreement capable of defusing the confrontation that has kept global energy markets on edge for months, even as Washington and Tehran continued on Tuesday to trade incompatible demands over compensation and control of the Strait of Hormuz.
Man shot dead by security forces after opening fire on Rawalpindi patrol; govt, PTI clash over affiliation claims
ISLAMABAD: A man was shot dead by security forces in Rawalpindi on Tuesday after he allegedly opened fire on a police patrol on the city’s Mall Road, wounding one officer, in an incident that has reignited a bitter row between the government and Pakistan’s largest opposition party.