By Staff Reporter
ISLAMABAD: Pakistan’s inflation hit another record high in May, making it Asia’s fastest for a second month, just days before the next fiscal budget is due to be unveiled in a country facing unprecedented economic challenges.
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Chaudhry Parvez Elahi arrested in corruption probe
By Staff Reporter
LAHORE: Chaudhry Parvez Elahi, an aide to former Pakistani Prime Minister Imran Khan and the president of Khan’s Pakistan Tehreek-e-Insaf (PTI) party, was arrested on Thursday by the anti-corruption establishment with the help of police.
Pakistan says no ‘Plan B’ if IMF deal fails
By Staff Reporter
ISLAMABAD: Pakistan has no backup plan if the International Monetary Fund (IMF) does not resume its $6.5 billion loan program, which has been on hold since September last year due to differences in next fiscal year’s external financing needs of the country, a minister said on Thursday.
IHC, Parliament on collision course over audio leaks inquiry?
Senator Raza Rabbani calls the IHC stay of the proceedings of a special parliamentary panel a violation of Article 69 of the Constitution and of trichotomy of powers. By Naveed Naqvi.
2 soldiers martyred in Iran border terrorist attack
The military says it is working to sanitize the area and are in touch with the Iranian authorities to cut off the terrorists’ escape routes. By Naveed Naqvi.
2 soldiers martyred in Iran border terrorist attack
The military says it is working to sanitize the area and are in touch with the Iranian authorities to cut off the terrorists’ escape routes. By Naveed Naqvi.
Black market boom: Tax hike on cigarettes backfires
By News Desk
The flood of smuggled cigarettes that hit Pakistan after the stellar tax hike brought by a minibudget a few months ago continues to surge, allowing black market forces to prey upon legitimate businesses and depriving the national kitty of previous revenue.
SBP eases dollar purchases for card payments
By Staff Reporter
KARACHI: The central bank said on Wednesday it would allow banks to buy dollars from the interbank market to settle card-based cross-border transactions with international payment schemes, a move that could ease pressure on the open currency market.
Petrol price drops by Rs8/liter as Pakistan battles record inflation
By Staff Reporter
ISLAMABAD: Pakistan cut petrol prices by Rs8 per liter on Wednesday, its second reduction in two weeks, to ease inflation that hit a 59-year high in April after an IMF-backed hike in fuel and energy tariffs.
Pakistan rejects IMF’s ‘interference’ in domestic politics
By Staff Reporter
ISLAMABAD: State Minister for Finance Dr. Aisha Ghaus Pasha on Wednesday rejected a statement by a senior International Monetary Fund (IMF) official as “interference” in domestic politics after he spoke about the necessity of maintaining the “rule of law” in the country.