By Staff Reporter
RAWALPINDI: Denying a raise in the next fiscal’s defence budget, the military on Tuesday asserted, in view of the runaway inflation, their allocation shrank by Rs100 billion, a claim that on the face of it does not add up.
Trending
Urgent shipment of Indonesian palm oil gets underway
By Staff Reporter
ISLAMABAD: All is set for Indonesia to send ten shiploads of palm oil to Pakistan on urgent basis, with the first ship ready to set sail for Karachi on Tuesday, according to a statement issued by the Prime Minister’s Office.
File photo
LAHORE:: A view of high voltage electric wires fell down on a Rickshaw at Garhi Shahu area in Provincial Capital. ONLINE PHOTO
Staggered Increase: ECC passes Rs7.91/unit power tariff hike
By Staff Reporter
ISLAMABAD: The Economic Coordination Committee (ECC) of the Cabinet on Monday consented to a hike of Rs 7.91/unit in the baseline power tariff on average, but in a staggered manner, starting from July 1, 2022.
Operational Issues: British Airways offs direct Pakistan’s flights for fortnight
By Staff Reporter
ISLAMABAD: British Airways on Tuesday suspended its direct flights from London’s Heathrow Airport to Islamabad owing to operational issues for fifteen days (June1-30).
Rupee Devaluation: Govt needs Rs165.2bn to pay foreign loans in FY22
By Staff Reporter
ISLAMABAD: The government direly needs Rs165.2 billion for servicing foreign loans during the outgoing fiscal year as the rupee has slumped to record low against the dollar.
Top general warns against politicising country’s nukes
By Staff Reporter
ISLAMABAD: Top military brass on Monday issued a strong caveat against irresponsible comments on the country’s nuclear arsenal, a message most probably meant for ex prime minister Imran Khan for a political jibe about the safety of the country’s deterrence against the nuclear-armed India.
Power at large
By Staff Reporter
KARACHI: On the mornings of long power-less nights, hot and bothered sleep-deprived employees totter into their offices after burning the country’s history’s most expensive fuel and blackguard their employers in hushed tones for eternally stagnant salaries.
Political stability goes before economic stabilisation
By Staff Reporter
A day after Moody’s downgraded Pakistan’s outlook from stable to negative citing “political and social risk”, British weekly the Economist has provided an apt translation for the obscure jargon: “Imran Khan is jeopardising Pakistan’s attempts to fix its economy”.
$23bn in FY23: Big swell in foreign debt servicing
By Staff Reporter
ISLAMABAD: The cost of total foreign debt servicing is seen snowballing to $23 billion for the budget 2022-23 as repayment of commercial loans has now assumed a major chunk of an outstanding amount of $6 billion out of total obligations.
SBP foreign currency reserves fall below $10 billion levels
By Staff Reporter
KARACHI: The State Bank of Pakistan’s (SBP) foreign currency reserves have dropped to levels worth just six weeks of imports, latest figures showed on Thursday.