ISLAMABAD: China has extended a critical financial lifeline to Pakistan by rolling over $3.4 billion in loans, a move that, alongside other recent inflows, is poised to lift the South Asian nation’s foreign exchange reserves above the $14 billion threshold mandated by the International Monetary Fund, a finance ministry source said on Sunday.
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President Zardari names Justice Dogar senior-most judge of IHC amid judicial dispute
ISLAMABAD: President Asif Ali Zardari on Sunday named Justice Sardar Dogar the “senior-most judge” of the Islamabad High Court (IHC), settling a contentious dispute over judicial seniority despite a fresh challenge from five IHC judges.
Pakistan raises fixed gas charges for households by 50 percent to meet IMF targets
ISLAMABAD: Pakistan has increased fixed gas charges for households by as much as 50% to bolster revenue and comply with International Monetary Fund conditions, a move aimed at stabilising its beleaguered energy sector while sparing domestic tariff hikes.
Pakistan launches power billing app
ISLAMABAD: Prime Minister Shehbaz Sharif on Sunday introduced a smartphone app to streamline electricity billing, part of sweeping reforms targeting the nation’s beleaguered power sector.
Islamabad High Court judges challenge Supreme Court ruling on judicial transfers
ISLAMABAD: Five judges from the Islamabad High Court (IHC) have launched a legal challenge against a Supreme Court decision upholding the transfer of three judges from provincial high courts to the federal capital, arguing that it misinterprets the Constitution and threatens judicial independence.
Pakistan to finalise Roosevelt Hotel privatisation structure at next CCoP meeting
ISLAMABAD: Pakistan is set to finalise the transaction structure for the privatisation of the iconic Roosevelt Hotel in New York at the next meeting of the Cabinet Committee on Privatization (CCoP), the government said on Saturday.
Heavy rains in Pakistan leave at least 31 dead, dozens injured as flood warnings persist
ISLAMABAD: At least 31 people have been killed and dozens more injured across Pakistan’s northwestern Khyber Pakhtunkhwa (KP) and Punjab provinces in the past 48 hours as heavy rains triggered flash floods, landslides, and structural collapses, provincial disaster authorities reported.
Pakistan leads global drop in sovereign default risk, Bloomberg data shows
ISLAMABAD: Pakistan has posted the steepest decline in sovereign default risk worldwide over the past year, topping Bloomberg Intelligence’s Global Emerging Market Rankings for credit risk improvement, as growing investor confidence underscores the country’s economic turnaround.
Thirteen Pakistani soldiers killed in suicide attack on convoy in North Waziristan
ISLAMABAD: Thirteen Pakistani soldiers were killed on Saturday when an explosive-laden vehicle rammed into their convoy in the northwestern district of North Waziristan, marking one of the deadliest attacks on security forces this year.
Govt authorises military deployment nationwide for Muharram security
ISLAMABAD: The government has authorised the nationwide deployment of the military and civil armed forces to bolster security during Muharram-ul-Haram, a sacred Islamic month marked by mourning and large-scale religious observances, particularly among Shia Muslims.