The country is counting on the $3 billion program to turn around its ailing economy, grunting under the hefty foreign debt service burden accumulated over the years. By Muhammad Ali.
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Dar sets the ball rolling on Aviation revamp, PIA restructuring
PM Sharif’s economy czar has ordered authorities to prepare legislation proposals to oil the wheels of the Aviation sector, in addition to seeking a presentation on PIA restructuring, to strengthen the flimsy with international aviation. By Muhammad Ali.
India snubbed as International court rules it can arbitrate Pakistan’s hydropower dispute
By Staff Reporter
ISLAMABAD: An international court ruled on Thursday that it could hear a dispute between India and Pakistan over two hydropower projects in the Himalayan region of Kashmir, rejecting India’s objections to its competence.
SBP reserves rise by $393 million, helped by China refinancing
By Staff Reporter
KARACHI: Pakistan’s foreign exchange reserves held by the central bank rose by $393 million to $4.462 billion in the week ending June 30, helped by the receipt of official inflows and the refinancing of $1.3 billion in Chinese commercial loans.
Pakistan approves Rs18.036 billion for telecom development funds
By Staff Reporter
ISLAMABAD: Pakistan’s IT and Telecom Minister Syed Amin ul Haque approved on Thursday the annual budgets of two state-owned funds that support the development of the telecom sector and innovation projects.
Pakistan, Italy extend debt swap deal for development projects
By Staff Reporter
ISLAMABAD: Pakistan and Italy have agreed to extend a debt swap deal that allows Pakistan to use part of its debt to Italy for development projects, the two countries said on Thursday.
UAE eyes renewable energy investment in Pakistan, offers oil and gas supplies
By Staff Reporter
ISLAMABAD: The United Arab Emirates (UAE) wants to invest in Pakistan’s renewable energy sector and is also interested in its conventional energy sources, a senior UAE official said on Thursday.
Pakistani army major martyred in gunfight with militants
By Staff Reporter
ISLAMABAD: A army major was killed, and two soldiers wounded in a clash with militants near the Afghan border, the military said on Thursday, the latest in a series of attacks on security forces in the restive region.
Five Pakistani car washers held for working in Israel, violating travel ban
By Staff Writer
ISLAMABAD: Pakistan has arrested five men who worked as car washers and helpers in Israel for four years, violating a ban on travel to the Jewish state, the Federal Investigation Agency (FIA) said on Wednesday.
Punjab battered by record-breaking rain, nine dead
By Staff Reporter
ISLAMABAD: At least nine people were killed and six injured in central Punjab province on Wednesday as heavy rain lashed the region, officials said.