By Staff Reporter
KARACHI: The Pakistani rupee continued its rally against the US dollar overnight on Thursday after staging an initial recovery Wednesday on the back of multiple positive reports concerning the government’s macroeconomic options.
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Iron brother to the rescue with a $2.3bn lifeline
By Staff Reporter
ISLAMABAD: With Pakistan well on its way to having the International Monetary Fund (IMF) revive a stalled bailout package it urgently needs, news came on Wednesday that a consortium of Chinese banks has thrown Islamabad a credit line of over USD 2 billion.
The logo of the International Monetary Fund (IMF) at the organization's headquarters in Washington, DC, May 16, 2011. The organization's director, Dominique Strauss-Kahn, faced arraignment in New York earlier Monday on allegations of sexual assault. AFP PHOTO / Saul LOEB
Pakistan, IMF achieve crucial agreement over budget targets
By Staff Reporter
ISLAMABAD: In a welcome development Tuesday night, Pakistan and the International Monetary Fund (IMF) evolved broad agreement over the next fiscal’s budget, paving the way for the revival of a stalled Fund bailout program, Independent Pakistan can report.
Long running trial of foreign funding case concludes
By Naveed Naqvi
ISLAMABAD: The Election Commission of Pakistan (ECP) on Tuesday concluded its long drawn out trial of a prohibited funding case against former Prime Minister Imran Khan’s Pakistan Tehreek-e-Insaf (PTI) party, reserving its judgement for the time being.
Pakistan ‘one step away’ from exiting FATF grey list
By our correspondent
ISLAMABAD: Pakistan is just ‘one step away’ from being removed from the grey list of the FATF — the international watchdog monitoring money laundering, terror financing, and other threats to global financial networks, after the had substantially completed its two action plans, covering 34 items, as part of a bid to get off the list on which it has been since 2018.
Heavy Investment: Pakistan looks to sun to end its energy crisis
By Staff Reporter
ISLAMABAD: Power crisis-hit Pakistan, where the sun shines in all its glory most of the year, has planned to make the most of solar energy to overcome its chronic energy crisis, the Independent Pakistan (IP) learned on Thursday.
Up 11.2pc YoY: Military cites inflation in ‘defence’ of budget raise
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.
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).