By Staff Reporter
ISLAMABAD: Pakistan’s economy expanded 1.73 percent in the second quarter of the fiscal year 2024-25, driven by solid growth in agriculture and services, despite a slight contraction in the industrial sector, the National Accounts Committee (NAC) said on Wednesday.
By Staff Reporter
ISLAMABAD: A bipartisan group of US lawmakers proposed legislation aimed at imposing sanctions on Pakistan’s military leaders, including Army Chief General Asim Munir, over alleged human rights abuses and the detention of former Prime Minister Imran Khan.
Pakistan has reached a staff-level agreement with the IMF, unlocking $1 billion under the Extended Fund Facility (EFF) and providing $1.3 billion under the Resilience and Sustainability Facility (RSF). The agreement, subject to IMF Executive Board approval, supports Pakistan’s efforts in building resilience to natural disasters and promoting climate adaptation, while also praising the country’s progress in restoring macroeconomic stability.
The UK Department for Transport confirmed on Tuesday, that Pakistan International Airlines (PIA) will remain on its air safety list, thwarting hopes of an imminent return to British skies following a ban imposed in July 2020 over a fake pilot license scandal. Despite recent optimism after a British Air Safety Committee meeting and PIA’s resumption of flights to Europe in January, the department emphasized a “rigorous procedure” for lifting restrictions, with the UK Civil Aviation Authority still engaging Pakistani officials.
The headline inflation is expected to remain steady within a 1-1.5 percent range in March, according to the Finance Division’s Monthly Economic Update and Outlook. However, the ministry warned that inflation could edge up to 2-3 percent in April due to potential volatility in food and energy prices. The country’s inflation has been on a declining trend since peaking at 38 percent in May 2023, and the government’s efforts to tighten spending and boost revenue have led to a primary surplus and a narrowed fiscal deficit.
By Staff Reporter
ISLAMABAD: The Islamabad High Court (IHC) on Monday restored a twice-weekly meeting schedule for jailed former Prime Minister Imran Khan, but barred attendees from speaking to the media afterwards.
By Staff Reporter
ISLAMABAD: The Pakistan Meteorological Department (PMD) issued a drought alert on Monday for Sindh, Balochistan, and Punjab provinces, where rainfall from Sept. 1, 2024, to March 21, 2025, was 40 percent below normal.
By Staff Reporter
ISLAMABAD: Foreign Minister Ishaq Dar on Monday called for a sustained dialogue with Afghanistan’s Taliban-led government to address surging militancy, border disputes, and economic collaboration, following a high-stakes visit by Islamabad’s special envoy to Kabul aimed at mending strained bilateral relations.
By Staff Reporter
ISLAMABAD: The International Monetary Fund (IMF) has refused to entertain the Federal Board of Revenue’s (FBR) request to reduce transaction taxes for the property sector, dashing earlier claims of an agreement in principle, local media reported.
By Staff Reporter
ISLAMABAD: Pakistan’s anti-graft watchdog has launched extradition proceedings against property tycoon Malik Riaz Hussain and his son Ali Malik from the United Arab Emirates (UAE), invoking international anti-money laundering laws and the Vienna Convention, Dawn newspaper reported on Wednesday.
