ISLAMABAD, Mar 31 (EW): Pakistan has kicked off outsourcing of operations and land assets at three key airports to be run via a public private partnership, finance ministry said, a move to generate more foreign exchange reserves for its ailing economy. The country’s finance ministry said in a statement that Pakistan has engaged the World Bank’s International Finance Corporation …
ISLAMABAD, Mar 31 (NNI): Ishaq Dar on Thursday said that Pakistan didn’t delay a single day in repayments. “We didn’t defer a day in repayments,” the finance minister said while speaking on the floor of the Senate. “All technical discussions have been completed, an agreement nearing with the International Monetary Fund (IMF),” he said. “The IMF is demanding, what …
ISLAMABAD, Mar 30 (EW): The Senate on Thursday approved the Supreme Court (Practice and Procedure) Bill, 2023 that would limit chief justice of Pakistan’s discretionary power to take suo motu notice. The bill was moved in the Senate today after it was approved by the National Assembly a day earlier. At least 60 senators approved the bill while 19 lawmakers …
New York, Mar 30 (EW): American financial services company Goldman Sachs has warned that the latest artificial intelligence (AI) advancements, especially platforms like ChatGPT, could affect as many as 300 million full-time global jobs. In a report, Goldman Sachs said that most of the jobs could be automated in some way or the other by the newest wave of …
BEIJING, Mar. 30 (INP): “We look forward to promoting the construction of cloud-based early warning supporting system with Pakistan,” said Zhang Zuqiang, Deputy Administrator of China Meteorological Administration (CMA), while talking to China Economic Net (CEN). Meteorological officers and experts from China and Pakistan held talks on deepening cooperation in meteorological science and technology in Beijing on March 24. …
ISLAMABAD, Mar. 30 (INP): The Khunjerab Pass, a key land border crossing between Pakistan and China at Khunjerab, is being reopened for trade activities from April 1, Gwadar Pro reported on Thursday quoting an official notification. The Pass was once closed to contain coronavirus transmission between the two countries. Right now relevant parties are making efforts to green-light customs clearance, hoping …
KARACHI, Mar 30 (EW): The rollover of a $2 billion Chinese loan to Pakistan that matured on March 23 is in process, a top government source told Reuters. With the country locked in unsuccessful talks to secure bailout funding from the International Monetary Fund (IMF), the rollover is critical for foreign exchange reserves that have dipped to just four …
ISLAMABAD, Mar 30 (EW): The International Monetary Fund (IMF) has asked the Pakistani authorities to provide more details about the petrol relief package causing more delay in the signing of the staff-level agreement, The News reported Thursday. The half-baked cross-fuel subsidy proposal by the petroleum ministry has failed to convince the Fund, which has rejected the initial plan arguing that …
ISLAMABAD, Mar 30 (EW): The Election Commission of Pakistan (ECP) on Wednesday night announced that the elections in Khyber Pakhtunkhwa province would be held on October 30, the same date as Punjab’s elections. In a notification, the ECP said: “…the Election Commission of Pakistan (ECP) notifies October 8, 2023, as the election date for the General polls to the …
ISLAMABAD, MAR 30 (EW): The Economic Coordination Committee (ECC) of the Cabinet is all set to reconsider Aviation Division’s summary on engagement of International Finance Corporation (IFC), an arm of World Bank, as Transaction Advisor for outsourcing of airports (Islamabad, Karachi, Lahore) on Thursday (today). Aviation Division, in its summary to the ECC, noted that in view of international …
