By Staff Reporter
ISLAMABAD: Prime Minister Shehbaz Sharif unveiled incentives for overseas Pakistanis on Tuesday, including special courts, tax breaks, job quotas, and skill training, acknowledging their economic contributions.
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LSM shrinks 1.9pc in July-February
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.
Fragile recovery
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.
Govt spurns fuel price cuts, channels saving to Balochistan projects
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.
Fitch upgrades Pakistan’s credit rating to B- on economic reforms, IMF support
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.
Four Pakistanis drowned in latest migrant boat tragedy off Libya coast
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.
IED blast targets police vehicle in Balochistan, killing three
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.
US arms abandoned in Afghanistan used in Pakistan attacks- report
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.
IMF pushes Pakistan on tax, judicial overhauls
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.
SC rejects challenge to IHC acting CJ’s appointment; next hearing April 17
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.