Pakistan central bank scraps remittance incentives after IMF scrutiny

KARACHI: Pakistan’s central bank has withdrawn two long-running incentive schemes that paid commercial banks to attract overseas remittances, after the cost of the programmes swelled to a level that drew the attention of the International Monetary Fund, according to central bank circulars and sources in the financial sector.

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Senate panel to seek FIA, NAB probes into power sector graft, brief prime minister

ISLAMABAD: A Senate committee decided on Thursday to brief Pakistan’s prime minister on alleged irregularities and corruption in foreign-funded power sector projects, and to ask two federal investigative agencies directly to open inquiries, after the government’s Economic Affairs Division said it lacked the authority to order a probe into projects run by another ministry.

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Pakistan’s trade deficit widens 21.6 percent to $39.47bln in FY26, missing export target by $5.2bln

ISLAMABAD: Pakistan’s trade deficit widened by 21.57% to $39.471 billion in the fiscal year that ended in June, as exports fell and imports climbed, official data showed on Thursday, missing the government’s export target by more than $5 billion and adding fresh strain to the country’s external finances.

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PEMRA seeks Islamic council’s opinion on Geo News suspension

ISLAMABAD:  Pakistan’s media regulator has asked the country’s top Islamic advisory body to determine whether the punishment already imposed on Geo News, one of the country’s largest private television broadcasters, is sufficient over a Muharram broadcast that authorities said risked offending religious sentiment, according to a letter reviewed by Reuters and officials.

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Relative of senior politician among five charged in kidnapping and sexual assault of two foreign women in Lahore

LAHORE: Police in the Pakistani city of Lahore registered a criminal case on Thursday against five suspects accused of kidnapping two foreign women for ransom and subjecting them to sexual assault, an incident that has drawn direct intervention from the top elected official in Punjab province.

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